Скачать или смотреть ITMAX Update Since IPO? Q3 2025 Earnings & Moat Explained

Since its IPO in 2022, ITMAX has transformed from a DBKL-centric service provider into a pan-Malaysian smart city infrastructure giant. In this video, we deep dive into ITMAX's business evolution through 2025, analyzing how their expansion into Johor and Penang is driving their latest financial surge.

We break down their unique "Zero-Capex" business model that creates incredible client stickiness and discuss whether their premium valuation is still justified based on the latest Q3 2025 results.

In this video, we cover: ✅ The Evolution: How ITMAX diversified beyond Kuala Lumpur (DBKL) to capture Johor & Penang. ✅ Financial Health: Q3 2025 Earnings Review—Revenue up 12% & Profit Margins hitting 39%. ✅ The Moat: Why their "Build-Own-Operate" model makes them nearly impossible to fire. ✅ Future Growth: The impact of the new RM42M traffic contract & "Digital Twin" tech. ✅ Key Risks: Regulatory shifts, cybersecurity threats, and valuation concerns.

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