ICT Zone Asia aims to raise RM26.6 million from IPO in transfer to ACE Market
The transfer is scheduled for June 3, and will involve a public issue of 133 million new shares, priced at 20 sen each.
Group managing director and chief executive officer Tommy Lim Kok Kwang said the ACE Market listing will provide the company with the opportunity to grow its business organically by gaining access to funding from Malaysia's capital market.
It will also enhance its capacity to meet the growing demands of stakeholders, supported by greater visibility in the broader market.
'Of the total RM26.6 million proceeds, RM21 million (or nearly 80%) will be allocated towards expanding our technology financing business. Another RM1.5 million will be used for sales and marketing efforts, while the remaining funds will cover listing-related expenses for the ACE Market transfer,' he said during the prospectus launch today.
The company also aims to strengthen its position and focus on achieving a target of RM500 million in unbilled orders within three years.
ICT Zone Asia has reported strong financial performance, with a record revenue of RM127.8 million and a profit after tax of RM9.1 million.
'The company's contractual business model, coupled with its revenue visibility and operational efficiency, provides investors with stable recurring cash flows and long-term earnings predictability.
'These attributes are especially valuable in today's market, where risk-adjusted fundamentals and consistent execution are essential,' the company stated.
The IPO is now open for applications and will close on May 20.
Malacca Securities Sdn Bhd is the principal adviser, sponsor, joint underwriter, and joint placement agent for the IPO. SCS Global Advisory (M) Sdn Bhd is the financial adviser, while Kenangan Investment Bank Bhd is a joint underwriter and joint placement agent. – Bernama
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Barnama
20 hours ago
- Barnama
Xiaomi Launches Largest Southeast Asia's Flagship Outlet At TRX's Exchange
GENERAL KUALA LUMPUR, July 27 (Bernama) -- Xiaomi has officially launched its largest retail store in Southeast Asia at The Exchange TRX here, strengthening its new retail business model presence in Malaysia. Xiaomi Malaysia country manager Eddie Huang said the new store is the brand's second flagship outlet in the country and follows the success of its first retail outlet at IPC Shopping Centre, Mutiara Damansara, Selangor. 'After the success of the IPC Shopping Centre retail outlet, we are excited to provide an even more holistic retail experience to our customers with the opening of this second outlet. 'This store reflects our mission to make the latest innovative technology accessible to everyone. It also reaffirms our commitment to enhancing customer experience through thoughtful retail design and exceptional customer service. We are proud to launch it here in Malaysia, a key market that continues to inspire our growth,' he said in a statement. Huang said the outlet at The Exchange offers the widest range of Xiaomi products in Malaysia, with more than 250 stock keeping units (SKUs) on display and over 500 SKU devices available for purchase, including smartphones, Artificial Intelligence of Things (AIoT) devices and smart home solutions. It is also the first Xiaomi store in Malaysia to offer on-site after-sales support, allowing customers to receive direct assistance from trained Xiaomi specialists, the statement said. 'Located in one of Kuala Lumpur's premier lifestyle destinations, the store showcases the brand's innovative range of products to elevate your smart living lifestyle. 'Conceptualising Xiaomi's upgraded strategy 'Human x Car x Home', the new store promises a refined retail experience where fans and shoppers alike can explore Xiaomi's smart ecosystem that seamlessly integrates personal devices and smart home products,' it said. In conjunction with the July 26 grand opening, Xiaomi offered exclusive promotions, including limited-time product deals and giveaways like Redmi Pad Pro WiFi, Xiaomi Smart Air Purifier 4 Compact and RM500 rebates. The Xiaomi TV Max 100 2025 was also offered at a special promotional price on launch day.
Malay Mail
a day ago
- Malay Mail
Bursa Malaysia tops SE Asia's in H1 2025, says CEO
KAMPAR, July 26 — Bursa Malaysia has maintained its lead position in initial public offering (IPO) activities in South-east Asia, as well as recording an overall market capitalisation exceeding RM1.9 trillion in the first half of 2025. Bursa Malaysia chief executive officer Datuk Fad'l Mohamed said this achievement reflects the strength of the country's capital market and also the business community's confidence in Bursa Malaysia as a partner for long-term growth. 'Retail investors' participation remains strong and continues to be a major contributor to the country's equity market. The average daily trading value (ADV) of retail investors remains stable at about RM450 million, in line with pre-Covid-19 levels, as of the middle of this year,' he said in his speech at the 2025 Perak Stock Carnival at Tunku Abdul Rahman University (UTAR) here today. Fad'l added that there are more than 113,000, or eight per cent of active retail investors in Perak, out of a total of 1.4 million in Malaysia, with nearly 6,000 new Central Depository System (CDS) accounts opened as of the middle of this year. He said Perak's potential for further growth in the capital market is very high with its 2.5 million population. 'However, despite these impressive figures, our priority is to build retail investors who are knowledgeable, responsible and confident about their investments,' he said. Bursa Malaysia also emphasised the need to raise awareness about the growing issue of investment fraud, with the police reporting more than 2,000 cases in the first quarter of this year, he said. The exchange is intensifying financial literacy programmes such as Sens-Ability, and providing various educational materials for new and experienced investors as a preventive measure, he said. 'Bursa Malaysia also introduced investment products like BR Capital, Bursa Gold Dinar, and MyBursa to cater to various investor segments. 'We encourage everyone present to leverage the knowledge-sharing sessions and opportunities provided throughout this carnival to make informed and wise investment decisions,' he added. The carnival, held for the first time in Perak, is part of a series of programmes that started in 2022, after previous events in Pahang, Terengganu and Perlis to strengthen investment literacy among the public. Perak's Tourism, Industry, Investment, and Corridor Development committee chairman Loh Sze Yee and UTAR research and commercialisation division vice-president Prof Dr Zuraidah Abd Manaf were also present at the event. — Bernama * Editor's note: A previous edition of the story contained an error which has since been corrected.
Malay Mail
2 days ago
- Malay Mail
RM1.9t in IPOs: Bursa Malaysia tops SE Asia's capital market surge in H1 2025, says CEO
KAMPAR, July 26 — Bursa Malaysia has maintained its lead position in initial public offering (IPO) activities in South-east Asia, recording a market value exceeding RM1.9 trillion in the first half of 2025. Bursa Malaysia chief executive officer Datuk Fad'l Mohamed said this achievement reflects the strength of the country's capital market and also the business community's confidence in Bursa Malaysia as a partner for long-term growth. 'Retail investors' participation remains strong and continues to be a major contributor to the country's equity market. The average daily trading value (ADV) of retail investors remains stable at about RM450 million, in line with pre-Covid-19 levels, as of the middle of this year,' he said in his speech at the 2025 Perak Stock Carnival at Tunku Abdul Rahman University (UTAR) here today. Fad'l added that there are more than 113,000, or eight per cent of active retail investors in Perak, out of a total of 1.4 million in Malaysia, with nearly 6,000 new Central Depository System (CDS) accounts opened as of the middle of this year. He said Perak's potential for further growth in the capital market is very high with its 2.5 million population. 'However, despite these impressive figures, our priority is to build retail investors who are knowledgeable, responsible and confident about their investments,' he said. Bursa Malaysia also emphasised the need to raise awareness about the growing issue of investment fraud, with the police reporting more than 2,000 cases in the first quarter of this year, he said. The exchange is intensifying financial literacy programmes such as Sens-Ability, and providing various educational materials for new and experienced investors as a preventive measure, he said. 'Bursa Malaysia also introduced investment products like BR Capital, Bursa Gold Dinar, and MyBursa to cater to various investor segments. 'We encourage everyone present to leverage the knowledge-sharing sessions and opportunities provided throughout this carnival to make informed and wise investment decisions,' he added. The carnival, held for the first time in Perak, is part of a series of programmes that started in 2022, after previous events in Pahang, Terengganu and Perlis to strengthen investment literacy among the public. Perak's Tourism, Industry, Investment, and Corridor Development committee chairman Loh Sze Yee and UTAR research and commercialisation division vice-president Prof Dr Zuraidah Abd Manaf were also present at the event. — Bernama
