Itmax's subsidiary to operate smart parking in Kulai

KUALA LUMPUR: ITMax System Bhd's 65%-owned subsidiary Southmax Sdn Bhd has been appointed the operator of smart parking by the Kulai Municipal Council.

In a filing with Bursa Malaysia, the network systems operator said the contract will commence on Aug 1, 2024, for a period of 15 years to July 31, 2029.

Under the terms of the agreement, there will be 70:30 revenue split between Southmax and the Kulai Municipal Council.

It said there are 3,974 parking spaces at 28 locations awarded under phase one of the initiative.