PETALING JAYA: ITMax System Bhd
’s 65%-owned subsidiary Southmax Sdn Bhd has secured a contract from the Pontian Municipal Council (MPPn) to be the smart parking operator for the outdoor parking under the council’s purview.
The contract is for a period of 15 years commencing on Feb 1, 2025, to Jan 31, 2040, said Itmax in a filing with Bursa Malaysia. The revenue collected for all parking and parking compound collections will be shared between the parties with 70% going to Southmax and the remaining 30% to MPPn.
“Southmax is responsible for the costs of the development, management and maintenance of the smart parking system as well as the parking space equipment and signage.”
ITMAX said the contract is expected to contribute positively towards the earnings and net assets per share of the company over the period until the expiry of the contract period.
MPPn is the local authority under the Johor state government, which administers the Pontian district.
