Updated
Updated · The Edge Malaysia · Aug 18
ITMAX Wins RM186.84 Million Socso Portal Contract, Expanding Beyond Smart-City Projects
Updated
Updated · The Edge Malaysia · Aug 18

ITMAX Wins RM186.84 Million Socso Portal Contract, Expanding Beyond Smart-City Projects

3 articles · Updated · The Edge Malaysia · Aug 18

Summary

  • A RM186.84 million, five-year Socso contract will have ITMAX develop and run an AI-powered employment portal for Malaysia's social security agency.
  • The job covers more than a standard portal build, adding system and data integration, AI-based job matching, cloud services, cybersecurity, and ongoing operations and maintenance.
  • Socso already runs MYFutureJobs, Malaysia's national employment portal, and uses the platform for employment services alongside its employee social security role.
  • The award broadens ITMAX's contract base beyond its usual smart-city work after recent DBKL wins worth RM120 million for street lighting and RM42 million for traffic-light systems.
  • ITMAX's latest quarterly net profit rose 24.2% to RM25.01 million on 29.8% higher revenue, though its shares closed 1.3% lower at RM4.45 and remain down 6.9% this year.

Insights

Despite landing a massive RM186.84 million government tech contract, why did ITMAX's stock actually fall?
Why is a company known for smart-city surveillance now entrusted with the sensitive data of Malaysia's jobseekers?
Can an AI-powered national employment portal truly eliminate hiring bias, or will it secretly filter out qualified candidates?