TIMES24 MALAYSIA SDN. BHD.

What TIMES24 MALAYSIA SDN. BHD. does

TIMES24 MALAYSIA SDN. BHD. is the largest car park operator in Malaysia, managing 180+ car park sites and 68,000+ parking spaces across 9 Malaysian states (Sabah, Perak, Johor, Melaka, Negeri Sembilan, Putrajaya, Kuala Lumpur, Selangor, and Pulau Pinang). The company is a wholly-owned subsidiary of PARK24 Group, a publicly listed Japanese parking management provider (Tokyo Stock Exchange, ticker 4666) that operates 28,000+ car parks and 1.3 million+ parking spaces globally across 7 countries. Originally incorporated as Secure Parking Corporation Sdn Bhd on 8 November 1994, the company rebranded to TIMES24 MALAYSIA SDN. BHD. on 1 October 2022 to align under the PARK24 brand umbrella. Headquartered in Petaling Jaya, Selangor, the company employs 58 staff in Malaysia and maintains a 24/7 National Control Centre for centralized remote monitoring.

The company's core technology stack is an in-house License Plate Recognition (LPR) system powered by advanced Japanese technology inherited from PARK24 Group, achieving 99% recognition accuracy and 3-second automated entry/exit. The LPR system uses AI-powered image processing to handle varied plate formats and environmental conditions, and integrates with an IoT-based cloud parking management platform. Cashless payment infrastructure supports Touch 'n Go, credit/debit cards, Samsung Pay, Apple Pay, and e-wallet QR payments. The company is ISO 9001 certified and rolled out a government-compliant E-invoicing system in January 2025 in line with Malaysian LHDN requirements.

TIMES24 Malaysia operates a B2B2C distribution model with three landlord-facing commercial structures: Fixed Rental (lease land for fixed monthly rent), Profit Sharing (revenue split), and Management Deal (equipment lease plus operations). For end consumers (motorists), the company operates physical car park locations, seasonal/monthly parking passes through the Times Monthly Portal, and ticketless cashless entry/exit. Customer segments span commercial office buildings, shopping malls, hotels and hospitality, residential buildings, and landlords with underutilized land assets. Named enterprise clients include Sunway Pyramid, Four Seasons Hotel KL, KL Eco City, Design Village Outlet Mall, and Promenade Hotel.

Name

TIMES24 MALAYSIA SDN. BHD.

Legal name

TIMES24 MALAYSIA SDN. BHD.

Website

https://times-parking.com.my

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

51–100 employees

Short description

TIMES24 Malaysia is the largest car park operator in Malaysia, managing 180+ sites and 68,000+ parking spaces across 9 states. A wholly-owned subsidiary of Japan's PARK24 Group, it serves property owners and motorists through LPR-based ticketless parking, cashless payments, and three landlord partnership models.

Ownership category

akta.pro rank

Product category

Parking Management Services

NAICS

Support Activities for Road Transportation (4884)

SIC

Services-Automotive Repair, Services & Parking (7500)

akta.pro primary industry

Curbside, Loading Zone & TNC/Rideshare Management (BPABAKAG)

Keywords

• Car park management
• Parking management services
• License plate recognition
• Cashless parking systems
• Smart parking solutions

Headquarters

HQ city

Petaling Jaya

HQ country

Malaysia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Infrastructure, Technology or R&D, Operations, Supply Chain, Marketing or Sales

Revenue model

1. Fixed Rental Model: TIMES24 leases the landlord's land and pays a fixed monthly rent with no initial or maintenance fees charged to the landlord, regardless of parking lot usage. Revenue is generated from parking fees collected from end consumers.
2. Profit Sharing Model: TIMES24 transforms and manages the landlord's land into a parking facility. Profits generated are shared based on revenue from services, with fair distribution between the landlord and TIMES24 Malaysia.
3. Management Deal Model: TIMES24 provides parking equipment (leased or existing) plus expert daily operations support. Revenue comes from parking fees collected, with a management/operations fee component.
4. Seasonal Parking Passes: Monthly seasonal parking passes sold to regular motorists for long-term parking at dedicated or unreserved bays. Revenue is recurring and subscription-like, collected monthly through the Times Monthly Portal.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels7 records

Core offering

TIMES24 Malaysia manages and operates car parks on behalf of landlords and property owners across Malaysia under three partnership models: Fixed Rental (lease land for fixed rent), Profit Sharing (shared revenue), and Management Deal (equipment plus operations). The company deploys its proprietary License Plate Recognition (LPR) system, cashless payment infrastructure supporting Touch 'n Go, cards, and e-wallets, a 24/7 National Control Centre, and seasonal/monthly parking passes to deliver parking services to end motorists at 180+ sites and 68,000+ spaces across 9 Malaysian states.

Differentiator

Problem solved

Functional benefit

Products and services

• Car Park Management System Comprehensive parking lot management solution that optimises facilities through advanced technology and skilled personnel. Includes hardware management, software integration, traffic flow optimisation, and revenue maximisation for landlords and property operators across basement, open-site, and multi-storey car parks.
• Cashless Parking System Digital payment solution supporting Touch 'n Go, credit/debit cards, and e-wallets via QR code scanning, plus contactless options including Samsung Pay and Apple Pay. Eliminates cash handling with secure, contactless transactions for both casual and regular parkers.
• License Plate Recognition (LPR) System In-house automatic license plate recognition system built on advanced Japanese technology. Enables ticketless parking with automated access control and billing. Features 99% accuracy, 3-second entry/exit, JPJ e-plate recognition for EVs, AI-powered image processing in low-light/bad weather, and seamless cashless payment integration.
• Seasonal Parking (Monthly Pass) Long-term parking solution offering flexible monthly passes for reserved or unreserved bays at selected locations. Includes the Times Monthly Portal for online management, payment, and e-invoice retrieval, eliminating daily payment hassle for regular commuters and building recurring revenue.
• Smart Parking System IoT-powered intelligent parking management system integrating LPR technology, IoT sensors, AI-driven analytics, and cloud-based infrastructure. Provides real-time space detection, automated access, cashless payments, and data-driven insights for operators.
• E-Invoicing System Government-compliant digital invoicing system for parking transactions. Generates electronic invoices for casual parking users via QR-code-linked portal and for seasonal parking users via the Times Monthly Portal, replacing paper invoices under Malaysian LHDN requirements.
• National Control Centre (NCC) Centralised car park management service enabling remote monitoring of parking operations. Staffed 24/7 by trained operators providing interactive monitoring and operational support to enhance safety, security, and efficiency across all managed car park sites.

Quantifiable outcome

• 99% car plate recognition accuracy — reducing misrecognition disputes and improving security
• +5 more outcomes

Named customers8 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

AI capability3 records

Feature6 records

Partnerships

One partnership is on record.

• PARK24 Group (PARK24 Co., Ltd.)coreOthers · 8 November 1994PARK24 Group is a leading global parking management provider headquartered in Japan (Tokyo, Shinagawa-ku), established in August 1971. Listed on the Prime Market of Tokyo Stock Exchange (TSE: 4666). TIMES24 Malaysia is a wholly-owned subsidiary of PARK24 Group. PARK24 Group manages 1,300,000+ parking spaces across 28,000+ car park sites in 7 countries (New Zealand, Australia, Singapore, Malaysia, Japan, Taiwan, United Kingdom). PARK24 provides TIMES24 Malaysia with advanced Japanese LPR technology, global operational expertise, and brand backing.

Scale indicators13 records

Recent moves7 records

Expansion highlights6 records

Emerging players

• Get My Parking: India-based parking technology platform offering white-label smart parking solutions including LPR, mobile apps, and cloud management to operators and landlords. Comparable as a tech-focused player enabling parking operators' digital transformation.
• Metropolis Technologies: US-based technology-enabled parking and mobility platform using computer vision and AI for ticketless entry, payments, and access control. Comparable for its LPR/computer-vision technology stack targeting commercial real estate operators.

Broad incumbents

• PARK24 Co., Ltd. Tokyo-listed (TSE: 4666) parent company of TIMES24 Malaysia and the largest parking operator in Japan. Operates 1.3M+ spaces across 7 countries with overlapping technology, business models, and customer segments at the group level.
• NCP (National Car Parks): UK-based commercial car park operator managing hundreds of sites across Britain with both public and managed-operator offerings. Comparable for the long-tenure landlord relationships and a portfolio approach spanning commercial property, retail, and airport-adjacent sites.
• SP+ Corporation: US-based parking management company (formerly Standard Parking) serving commercial, hospitality, healthcare, and retail clients with managed-operator contracts. Comparable for landlord-partnership model and managed-services revenue structure.
• Indigo Group: French-listed global parking and urban mobility operator with operations across Europe, North America, and Latin America. Comparable for its combination of on-street, off-street, and digital parking services at significant scale.
• LAZ Parking: One of the largest privately held parking operators in the United States, managing thousands of commercial, residential, and mixed-use properties. Comparable for asset-light managed-operator model targeting commercial real estate landlords.
• APCOA Parking Group: Europe's largest car park operator, managing thousands of sites across multiple European countries with both public and contracted/managed parking models. Comparable as a large incumbent rolling out digital parking and EV charging infrastructure.

Direct peers

• Smart Parking Limited: ASX-listed parking technology and management company with operations across Australia, the UK, Europe, and parts of Asia. Comparable for its combination of proprietary parking sensor/LPR technology and managed-operator services for property owners.
• Wilson Parking: Operates commercial car parks across Australia, New Zealand, Malaysia, and Singapore under similar Fixed Rental/managed-operator models. Direct competitive overlap in Malaysia and across the broader ANZ/SEA region with the same landlord-partner business model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@TIMES24MALAYSIASDNBHD
• LinkedInlinkedin.com/company/times24-malaysia-sdn-bhd

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about TIMES24 MALAYSIA SDN. BHD.