Reported Earnings • May 26
First quarter 2026 earnings released: EPS: RM0.024 (vs RM0.02 in 1Q 2025) First quarter 2026 results: EPS: RM0.024 (up from RM0.02 in 1Q 2025). Revenue: RM65.9m (up 30% from 1Q 2025). Net income: RM25.0m (up 24% from 1Q 2025). Profit margin: 38% (down from 40% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Electronic industry in Malaysia. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 50% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Apr 27
ITMAX System Berhad, Annual General Meeting, Jun 08, 2026 ITMAX System Berhad, Annual General Meeting, Jun 08, 2026, at 14:00 Singapore Standard Time. Location: wira ballroom, level 2, hyatt place kuala lumpur bukit jalil, m-1, pusat perdagangan bandar bukit jalil, persiaran jalil 1, 57000 kuala lumpur, Malaysia Declared Dividend • Mar 01
Dividend of RM0.023 announced Shareholders will receive a dividend of RM0.023. Ex-date: 12th March 2026 Payment date: 27th March 2026 Dividend yield will be 0.5%, which is lower than the industry average of 2.3%. Announcement • Dec 24
ITMAX System Berhad (KLSE:ITMAX) acquired 70% stake in Tapway Sdn. Bhd. for MYR 5.6 million. ITMAX System Berhad (KLSE:ITMAX) acquired 70% stake in Tapway Sdn. Bhd. for MYR 5.6 million on December 22, 2025. A cash consideration of MYR 5.6 million will be paid by ITMAX System Berhad. Tapway is principally involved in the development and deployment of its proprietary Vision AI platform, which is widely deployed across commercial sectors including shopping malls, plantations, and factories. The platform focuses on delivering Vision AI solutions for commercial environments and strategically complements ITMAX’s existing portfolio of AI-powered digital infrastructure solutions. This transition enhances our value proposition to commercial customers and supports the expansion of recurring revenue streams.
ITMAX System Berhad (KLSE:ITMAX) acquired 70% stake in Tapway Sdn. Bhd. on December 22, 2025. Price Target Changed • Nov 28
Price target increased by 8.1% to RM5.62 Up from RM5.20, the current price target is an average from 3 analysts. New target price is 21% above last closing price of RM4.63. Stock is up 25% over the past year. The company is forecast to post earnings per share of RM0.089 for next year compared to RM0.078 last year. Reported Earnings • Nov 27
Third quarter 2025 earnings released: EPS: RM0.025 (vs RM0.021 in 3Q 2024) Third quarter 2025 results: EPS: RM0.025 (up from RM0.021 in 3Q 2024). Revenue: RM65.2m (up 12% from 3Q 2024). Net income: RM25.6m (up 16% from 3Q 2024). Profit margin: 39% (up from 38% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 9.2% growth forecast for the Electronic industry in Malaysia. Reported Earnings • Aug 22
Second quarter 2025 earnings released: EPS: RM0.022 (vs RM0.019 in 2Q 2024) Second quarter 2025 results: EPS: RM0.022 (up from RM0.019 in 2Q 2024). Revenue: RM58.5m (up 9.8% from 2Q 2024). Net income: RM23.1m (up 21% from 2Q 2024). Profit margin: 40% (up from 36% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Electronic industry in Malaysia. Reported Earnings • May 28
First quarter 2025 earnings released: EPS: RM0.02 (vs RM0.018 in 1Q 2024) First quarter 2025 results: EPS: RM0.02 (up from RM0.018 in 1Q 2024). Revenue: RM50.7m (up 11% from 1Q 2024). Net income: RM20.1m (up 12% from 1Q 2024). Profit margin: 40% (in line with 1Q 2024). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Malaysia. Reported Earnings • Apr 29
Full year 2024 earnings: EPS in line with analyst expectations despite revenue beat Full year 2024 results: EPS: RM0.078 (up from RM0.062 in FY 2023). Revenue: RM220.2m (up 47% from FY 2023). Net income: RM80.4m (up 27% from FY 2023). Profit margin: 37% (down from 42% in FY 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 17%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Electronic industry in Malaysia. Announcement • Apr 24
ITMAX System Berhad, Annual General Meeting, Jun 10, 2025 ITMAX System Berhad, Annual General Meeting, Jun 10, 2025, at 14:00 Singapore Standard Time. Location: seminar 1 & 2, level 3, courtyard by marriott kuala lumpur south, 137, jalan puchong, 58200 kuala lumpur, Malaysia Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to RM3.32, the stock trades at a forward P/E ratio of 37x. Average forward P/E is 13x in the Electronic industry in Malaysia. Total returns to shareholders of 50% over the past year. Simply Wall St's valuation model estimates the intrinsic value at RM1.87 per share. Reported Earnings • Feb 27
Full year 2024 earnings released: EPS: RM0.078 (vs RM0.062 in FY 2023) Full year 2024 results: EPS: RM0.078 (up from RM0.062 in FY 2023). Revenue: RM220.2m (up 47% from FY 2023). Net income: RM80.4m (up 27% from FY 2023). Profit margin: 37% (down from 42% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Electronic industry in Malaysia. Upcoming Dividend • Nov 29
Upcoming dividend of RM0.014 per share Eligible shareholders must have bought the stock before 06 December 2024. Payment date: 24 December 2024. Payout ratio is a comfortable 35% but the company is not cash flow positive. Trailing yield: 0.4%. Lower than top quartile of Malaysian dividend payers (4.9%). Lower than average of industry peers (1.8%). Announcement • Nov 27
ITMAX System Berhad Announces Single Tier Interim Dividend for the Financial Year Ended 31 December 2024, Payable on December 24, 2024 ITMAX System Berhad announced Single Tier Interim Dividend of 1.4 sen per share in respect of financial year ended 31 December 2024. The entitlement date is December 9, 2024, Ex-Date December 6, 2024 and payment will be made on December 24, 2024. Reported Earnings • Nov 26
Third quarter 2024 earnings released: EPS: RM0.022 (vs RM0.016 in 3Q 2023) Third quarter 2024 results: EPS: RM0.022 (up from RM0.016 in 3Q 2023). Revenue: RM58.0m (up 49% from 3Q 2023). Net income: RM22.1m (up 36% from 3Q 2023). Profit margin: 38% (down from 42% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Electronic industry in Malaysia. Reported Earnings • Aug 29
Second quarter 2024 earnings released: EPS: RM0.019 (vs RM0.015 in 2Q 2023) Second quarter 2024 results: EPS: RM0.019 (up from RM0.015 in 2Q 2023). Revenue: RM53.2m (up 60% from 2Q 2023). Net income: RM19.2m (up 27% from 2Q 2023). Profit margin: 36% (down from 45% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Electronic industry in Malaysia. Price Target Changed • Jul 31
Price target increased by 19% to RM3.19 Up from RM2.69, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of RM3.15. Stock is up 122% over the past year. The company is forecast to post earnings per share of RM0.08 for next year compared to RM0.062 last year. Valuation Update With 7 Day Price Move • Jul 15
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to RM3.06, the stock trades at a forward P/E ratio of 36x. Average forward P/E is 22x in the Electronic industry in Malaysia. Total returns to shareholders of 112% over the past year. Simply Wall St's valuation model estimates the intrinsic value at RM1.37 per share. Reported Earnings • May 28
First quarter 2024 earnings released: EPS: RM0.018 (vs RM0.015 in 1Q 2023) First quarter 2024 results: EPS: RM0.018 (up from RM0.015 in 1Q 2023). Revenue: RM45.8m (up 32% from 1Q 2023). Net income: RM18.0m (up 19% from 1Q 2023). Profit margin: 39% (down from 44% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Electronic industry in Malaysia. Announcement • Apr 28
ITMAX System Berhad, Annual General Meeting, Jun 06, 2024 ITMAX System Berhad, Annual General Meeting, Jun 06, 2024, at 10:00 Singapore Standard Time. Agenda: To receive the Audited Financial Statements for the financial year ended 31 December 2023 together with the Directors and the Auditors Reports thereon; to re-elect Tan Wei Lun, who retires by rotation pursuant to Clause 76(3) of the Company's Constitution and who being eligible, has offered himself for re-election; to re-elect Mok Juan Chek, who retires by rotation pursuant to Clause 76(3) of the Company's Constitution and who being eligible, has offered himself for re-election; to approve the payment of Directors' fees and benefits of up to RM754,000 for the period from 7 June 2024 until the conclusion of the next Annual General Meeting of the Company to be held in the year 2025; to re-appoint KPMG PLT as Auditors of the Company until the conclusion of the next Annual General Meeting and to authorise the Board of Directors to fix their remuneration; and to consider other matters. Upcoming Dividend • Mar 06
Upcoming dividend of RM0.012 per share Eligible shareholders must have bought the stock before 13 March 2024. Payment date: 25 March 2024. Payout ratio is a comfortable 19% and this is well supported by cash flows. Trailing yield: 0.5%. Lower than top quartile of Malaysian dividend payers (4.8%). Lower than average of industry peers (2.6%). Declared Dividend • Mar 01
Dividend increased to RM0.012 Dividend of RM0.012 is 50% higher than last year. Ex-date: 13th March 2024 Payment date: 25th March 2024 Dividend yield will be 0.5%, which is lower than the industry average of 2.3%. Payout Ratios Payout ratio: 13%. Cash payout ratio: 23%. Reported Earnings • Feb 27
Full year 2023 earnings released: EPS: RM0.062 (vs RM0.23 in FY 2022) Full year 2023 results: EPS: RM0.062. Revenue: RM149.7m (up 40% from FY 2022). Net income: RM63.3m (up 56% from FY 2022). Profit margin: 42% (up from 38% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Electronic industry in Malaysia. Reported Earnings • Nov 22
Third quarter 2023 earnings released: EPS: RM0.016 (vs RM3.08 in 3Q 2022) Third quarter 2023 results: EPS: RM0.016. Revenue: RM39.1m (up 27% from 3Q 2022). Net income: RM16.3m (up 33% from 3Q 2022). Profit margin: 42% (up from 40% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Electronic industry in Malaysia. Valuation Update With 7 Day Price Move • Sep 19
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to RM1.67, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 17x in the Electronic industry in Malaysia. Simply Wall St's valuation model estimates the intrinsic value at RM0.87 per share. Announcement • Aug 24
ITMAX System Berhad (KLSE:ITMAX) entered into a binding term sheet to acquire 70% stake in Aim-Force Software Sdn Bhd from Lew chiew yoon, Yip Huan shean, pek han tiong and chiew kheng huat for MYR 7.2 million. ITMAX System Berhad (KLSE:ITMAX) entered into a binding term sheet to acquire 70% stake in Aim-Force Software Sdn Bhd from Lew chiew yoon, Yip Huan shean, pek han tiong and chiew kheng huat for MYR 7.2 million on August 23, 2023.Consideration is in the form of cash and earnout payment. Transaction is funded from internal generated funds. The transaction is subject to satisfactory results of a due diligence investigation. Reported Earnings • Aug 24
Second quarter 2023 earnings released: EPS: RM0.015 (vs RM2.20 in 2Q 2022) Second quarter 2023 results: EPS: RM0.015. Revenue: RM33.4m (up 55% from 2Q 2022). Net income: RM15.1m (up 72% from 2Q 2022). Profit margin: 45% (up from 41% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Electronic industry in Malaysia. Reported Earnings • May 19
First quarter 2023 earnings released: EPS: RM0.015 (vs RM1.93 in 1Q 2022) First quarter 2023 results: EPS: RM0.015. Revenue: RM34.7m (up 70% from 1Q 2022). Net income: RM15.2m (up 97% from 1Q 2022). Profit margin: 44% (up from 38% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Electronic industry in Malaysia. Reported Earnings • Feb 28
Full year 2022 earnings released: EPS: RM0.23 (vs RM7.31 in FY 2021) Full year 2022 results: EPS: RM0.23. Revenue: RM107.3m (up 35% from FY 2021). Net income: RM40.6m (up 39% from FY 2021). Profit margin: 38% (up from 37% in FY 2021). The increase in margin was driven by higher revenue. Board Change • Dec 13
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. No experienced directors. 1 highly experienced director. Non-Independent Executive Director Datin Afinaliza is the most experienced director on the board, commencing their role in 2002. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.