Under this contract, ITMAX said it will install 5,000 closed-circuit cameras to complement the existing video surveillance infrastructure in Kuala Lumpur, which will be equipped with advanced AI capabilities for real-time analytics, enhanced security monitoring and city management.

“The contract spans 10 years, comprising a one-year installation phase followed by a nine-year subscription phase, it noted.

In a statement, managing director and CEO William Tan said that the company’s advanced AI capabilities will provide real-time insights and analytics to support the city council in optimising urban management.

“With this expansion, our video surveillance system will now encompass 10,000 intelligent surveillance units, seamlessly connected through our fibre optic network infrastructure across Kuala Lumpur.

“We anticipate a sustained and increasing demand for comprehensive AI-driven surveillance solutions, which we believe will significantly enhance public safety and elevate the overall quality of life in the city,” he added.

ITMAX is principally involved in the business of supply, installation, and provision of public space networked systems, focusing on the networked lighting systems and traffic management systems, as well as providing network facilities, including video surveillance and communications network services.

As at 2.41pm, ITMAX’s share price was up by 16 sen or 4.78% at RM3.51, giving the group a market capitalisation of RM3.613 billion.