The Star Malaysia - StarBiz

ITMAX to offer systems for residentia­l townships


KUALA LUMPUR: ITMAX System Bhd plans to expand its business into new target segments by providing networked systems for residentia­l township and commercial developmen­t projects.

The group, en route to a Main Market listing on Dec 13, 2022, is mainly involved in the business of supply, installati­on and provision of public space networked systems.

“We plan to continue to widen our fibre optic communicat­ions network as well as set up a data lake facility in the Klang Valley,” said CEO Tan Wei Lun during ITMAX’S initial public offering (IPO) prospectus launch yesterday.

“In addition to our smart-trafficlig­hts management system, we have added smart-street-lighting and smart-video-surveillan­ce systems to our portfolio to form the backbone for our clients’ smart-city infrastruc­ture deployment­s,” he added.

Maybank Investment Bank Bhd CEO Datuk Fad’l Mohamed said ITMAX’S IPO is the only public offering in Asean by an integrated systems and solutions provider for smart cities.

ITMAX focuses on the supply and installati­on of networked lighting systems and networked traffic management systems, as well as provision of network facilities comprising video surveillan­ce and communicat­ions network services, and investment holding.

Based on the enlarged issued share capital of 1.03 billion shares and offer price of RM1.07 per share, ITMAX will have a market capitalisa­tion of Rm1.1bil upon listing. The group aims to pay an annual dividend of at least 20% of its net profit.

Its listing exercise aims to raise Rm203.89mil through a public issue of 190.55 million new shares. The exercise will include an offer for sale of 129.45 million shares.

ITMAX has earmarked 41.7% of the proceeds raised from the public issue for the expansion of its smartcity applicatio­n.

Another 6.1% and 9.8% will be for the expansion of its research and developmen­t capabiliti­es and expansion into enterprise market, respective­ly.

Some 19% will be for the network and telecommun­ication infrastruc­ture expansion, 14.3% for working capital and 3.9% for the repayment of borrowings.

Applicatio­ns for the public issue portion of the IPO will close on Dec 1, 2022 at 5pm.

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