ITMAX System Berhad (KLSE:ITMAX) has received approval from the Malaysian Communications and Multimedia Commission (MCMC) for a project worth 134.3 million ringgit to develop communications infrastructure and digital connectivity for the Kota Kinabalu Smart City project, according to a Monday filing to Bursa Malaysia.

The company's shares were down nearly 1% in Monday's trade.

The company has also been designated as the universal service provider for the project and will oversee the design, supply, installation, integration, testing, commissioning and maintenance of the Network Operation Command Centre and Smart Systems, which will be deployed across Kota Kinabalu city.

The project will be implemented over a period of up to 24 months, followed by a five-year operational period upon completion.