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ITMAX System Bhd managing director and CEO William Tan Wei Lun
KUALA LUMPUR: ITMAX Systems Bhd is cautiously optimistic that its future prospects remain favourable.
“As borders reopened and restrictions lifted, the group is looking to continue its growth by expanding its service offerings and expanding into other geographical territories and segments.
“While the group continues to deliver on its ongoing project and plots its mid and long term growth, the resurgence of the Covid-19 infection, inflationary pressure amid rising food and energy prices and disrupted supply chains following the Russia-Ukraine war remain as threats to the local and global economy,” ITMAX said in a filing with Bursa Malaysia.
ITMAX is primarily involved in the business of supply and installation and provision of public space networked systems.
In the fourth quarter ended Dec 31, its net profit jumped 76.4% to RM12.8mil from RM7.3mil a year ago.
ITMAX has recommended an interim single tier tax-exempt dividend of 0.8 sen per share in respect of the financial year ended Dec 31, 2022.
The entitlement date is fixed on March 14 and payment will be made on March 24.
For the cumulative 12 months, ITMAX recorded revenue and net profit of RM107.3mil and RM40.6mil respectively, an increase of 34.5% and 38.8% as compared to FY21.
Managing director/chief executive officer William Tan Wei Lun said: “We are pleased to announce that the group’s revenue surpassed the RM100mil mark for the first time in FY22. With that said, we are poised to achieve more in the coming years. With the proceeds from our IPO, we will be executing our expansion plans. This will strengthen our position in the smart city solution industry.”
“Malaysia’s smart city landscape is rapidly evolving, with the combined efforts from both the government and private sector. We, as the leading smart city solution provider, will play our role in making the smart city vision into a reality,” he added.