KUALA LUMPUR: ITMax System Bhd's 65-per cent owned unit, Southmax Sdn Bhd, accepted the letter of award from Iskandar Puteri City Council (MBIP) to provide video surveillance and smart traffic light system services for RM111.24 million.
The services include a closed-circuit camera system with artificial intelligence features and a smart traffic light system, which will be given on a service subscription basis at MBIP for 15 years from September 26, 2023, to September 25, 2038.
Under the terms agreed, Southmax must provide a non-cancellable performance bond of RM370,800 with a validity period from September 26, 2023, until 12 months after the contract's end date or the date of the last obligation, whichever is later.
It is also required to provide non-cancellable policies throughout the contract period in respect of a public liability insurance policy worth RM2 million, a social security organization, an employees' provident fund or insurance policy amounting to RM111.24 million, and a workers compensation insurance policy that costs RM11.12 million.
It also needs to provide a Professional Training And Education For Growing Entrepreneurs (PROTÉGÉ) programme set by the government based on the contract sum with a minimum number of participants of 47 persons.