ITMax System Secures RM26.6 Million CCTV Installation Contract With MBSP
ITMAX System Berhad announced that it has accepted a Letter of Acceptance from Majlis Bandaraya Seberang Perai for the provision of installation and maintenance services for a closed-circuit camera system, including related works, in the Seberang Perai area. The project, valued at a total contract sum of RM26.6 million, will commence on April 15, 2025, and will run for a period of nine and a half years, concluding on October 14, 2034.
According to the key terms of the LOA, the Contract Value encompasses both the installation and comprehensive maintenance of the CCTV system. The installation services are valued at RM2,600,000.00. Following the installation, ITMAX will provide comprehensive maintenance services for a period of eight (8) years at a rate of RM250,000 per month.
The LOA also includes provisions for Liquidated and Ascertained Damages (LAD) should there be any delays in the work deliverables of the Services.
ITMAX stated that the risks associated with the LOA are normal operational risks and that the Board is not aware of any other significant risks that could materially or adversely affect the financial position of the ITMAX Group.
