Latest news with #Selmax
Malay Mail
5 days ago
- Business
- Malay Mail
ITMAX secures 10-year smart parking contract from Shah Alam City Council
KUALA LUMPUR, Aug 7 — ITMAX System Bhd, via its 70 per cent-owned subsidiary Selmax Sdn Bhd, has secured a 10-year contract from the Shah Alam City Council (MBSA) to manage the Selangor Intelligent Parking (SIP) system. In a filing with Bursa Malaysia today, ITMAX said the contract includes an option for a five-year extension, subject to assessments by MBSA and SIP system provider Rantaian Mesra Sdn Bhd (RMSB), a wholly owned unit of Menteri Besar Selangor Inc (MBI). Selmax, which accepted the revised letter of appointment (LOA) from MBSA on Aug 1, 2025, referencing the original appointment dated July 9, 2025, will also manage parking compounds in areas under the jurisdiction of MBSA. All three parties, Selmax, MBSA and RMSB, will enter into a tripartite agreement to formalise the arrangement. 'The LOAs are 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,' ITMAX said. The smart parking operator added that all parking collections would be distributed based on the revenue-sharing arrangement comprising 10 per cent for RMSB, MBSA (40 per cent) and Selmax (50 per cent). — Bernama
New Straits Times
5 days ago
- Automotive
- New Straits Times
ITMAX bags 10-year contract to operate, manage smart parking in Shah Alam
KUALA LUMPUR: ITMAX System Bhd has secured its second smart parking concession in Selangor, this time from Shah Alam City Council. The company today said its subsidiary Selmax Sdn Bhd had been appointed by Shah Alam City Council (MBSA) as the operator for the Selangor Intelligent Parking (SIP) system. Under the SIP, Selmax will deploy, manage and operate all gazetted parking bays within MBSA's jurisdiction. The contract has a tenure of 10 years, with an option for a five-year extension. The contract will be executed under a revenue-sharing model, with Selmax entitled to 50 per cent of revenue generated from parking fees and compound collections. "We are honoured to be appointed once again as the SIP operator in Selangor, marking our second smart parking contract in the state," ITMAX managing director and chief executive officer William Tan Wei Lun said. "This appointment reaffirms our role as a trusted technology partner in supporting local councils to modernise urban mobility." Through the integration of advanced artificial intelliegnce CCTV monitoring and mobile patrol licence plate recognition technologies, the company aims to significantly improve parking compliance, operational efficiency and public safety, he added. "With a proven track record in delivering smart city infrastructure, we are confident in our ability to contribute meaningfully to Selangor's broader Smart City agenda and accelerate the digital transformation of public services." Tan said the company is looking forward to extending its solutions to more municipalities across the state. ITAX last Friday announced that it had secured a 10-year contract from the Subang Jaya City Council (MBSJ) to operate and manage the SIP system within the city. The contract is for 10 years, with an option for a further five years. Selmax will be responsible for deploying, managing and operating all gazetted car park spaces under MBSJ's jurisdiction. The company will work alongside Rantaian Mesra Sdn Bhd, a wholly-owned unit of Menteri Besar Selangor (Incorporation), which has been appointed as the SIP system provider under the same arrangement.
Free Malaysia Today
01-08-2025
- Automotive
- Free Malaysia Today
Subang Jaya appoints ITMax unit as parking operator for 10 years
Selmax Sdn Bhd, a subsidiary of ITMax System Berhad, has been appointed to manage parking operations in Subang Jaya on a 10-year revenue-sharing concession. PETALING JAYA : The Subang Jaya city council has appointed Selmax Sdn Bhd to manage parking in the city under the Selangor intelligent parking system, Selmax's parent company ITMax System Berhad announced today. The appointment is for 10 years, with an option for a 5-year extension, on a revenue-sharing arrangement in which Selmax will receive 50% of the revenue generated from parking-related collection. ITMax chief executive William Tan said Selmax will be responsible for deploying, managing, and operating all gazetted car park spaces under MBSJ's jurisdiction. He said the company's smart parking solutions had achieved success in other cities. 'This initiative is also aligned with Selangor's broader Smart City agenda, and we are proud to play a role in driving its digital transformation in cities with an integrated smart city infrastructure,' he said in a statement.
BusinessToday
01-08-2025
- Automotive
- BusinessToday
ITMAX Strikes Profit Sharing Parking Deal With MPSJ
ITMAX System Bhd has secured another smart parking contract through its subsidiary Selmax Sdn Bhd to operate the Selangor Intelligent Parking (SIP) system for the Subang Jaya City Council (MBSJ). Under the 10-year agreement, Selmax will manage all gazetted parking spaces within MBSJ's jurisdiction. The deal includes a revenue-sharing model, with Selmax entitled to 50% of parking-related collections and an optional five-year extension. 'We are honoured to be appointed as the SIP operator for MBSJ, marking ITMAX's strategic entry into Selangor,' said William Tan Wei Lun, Managing Director and CEO of ITMAX. 'This aligns with Selangor's Smart City agenda and reflects our commitment to building connected, efficient and sustainable urban ecosystems.' Tan said the partnership aims to enhance urban mobility and public safety while improving the overall quality of life through advanced smart city technologies. Related
New Straits Times
01-08-2025
- Automotive
- New Straits Times
ITMAX System bags 10-year contract to operate, manage smart parking in Subang Jaya
KUALA LUMPUR: ITMAX System Bhd's 70 per cent-owned uni Selmax Sdn Bhd, has secured a 10-year contract from the Subang Jaya City Council (MBSJ) to operate and manage the Selangor Intelligent Parking (SIP) system within the city. According to its Bursa Malaysia filing, the appointment is for a duration of 10 years, with an option for a further fove-year extension. Under the SIP, Selmax will be responsible for deploying, managing, and operating all gazetted car park spaces under MBSJ's jurisdiction. The company will work alongside Rantaian Mesra Sdn Bhd (RMSB), a wholly-owned unit of Menteri Besar Selangor (Incorporation), which has been appointed as the SIP system provider under the same arrangement. Under the revenue-sharing terms, Selmax will receive 50 per cent of all collections from parking and compounds, MBSJ will receive 40 per cent, while RMSB will be allocated 10 per cent. ITMAX said the contract is expected to contribute positively to its earnings and net assets per share over the contract period. Its managing director and chief executive officer William Tan Wei Lun said the collaboration underscores the company's dedication to helping local councils improve parking operations by leveraging advanced technology. "We are honoured to be appointed as the SIP operator for MBSJ, marking ITMAX's strategic entry into Selangor, one of Malaysia's most dynamic and rapidly growing urban regions. "Our smart parking solutions have already delivered measurable success in other cities, and we are confident they will support MBSJ's vision for a more connected, efficient, and sustainable urban ecosystem," he said. William said the initiative supports Selangor's wider Smart City agenda, and the company is proud to contribute to the state's digital transformation by developing integrated smart city infrastructure that promotes smoother mobility, greater public safety, and a better quality of life for residents.
