๐ ITMAX bags fourth parking management contract in Johor
โข ITMAX System Bhd (ITMAX) announced on Monday that it has been appointed by the Segamat Municipal Council (MPS) to operate 7,637 street parking in Johor's Segamat district, marking its fourth such contract in the state. (TheEdge, 23 Sept)
โข The 15-year contract will allow ITMAX's 65%-owned subsidiary secure 70% of the revenue from parking collections and parking compounds under a revenue sharing model, while MPS will receive the remaining 30%. (TheEdge, 23 Sept)
โข With the news announcement, shares of ITMAX closed 3.5% higher on Monday, while its shares are trading flat as at 9:41AM this morning.
โข Bullish investors may consider Macquarie's ITMAX-CO, which currently has the highest exercise price (RM4.28) among other ITMAX warrants listed on Bursa Malaysia, covering any further upside potential in this name.
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