KUALA LUMPUR (June 3): ICT Zone Asia Bhd (KL:ICTZONE), which debuted flat on the ACE Market on Tuesday, plans to double its market share in government-linked ICT leasing from 10% to 20% over the next three years, said managing director and chief executive officer Tommy Lim Kok Kwang.

The company provides ICT hardware and software leasing under the "i-leasing" brand, receiving monthly payments from clients without offering direct user support. It plans to use its RM26.6 million IPO proceeds to grow its core business.

Lim said the group also aims to boost its unbilled order book from RM242 million to RM500 million and has participated in all available government and corporate tenders. He spoke to reporters after the company’s listing ceremony, following its transfer from the LEAP Market.

About 70% of the company’s leasing revenue comes from government projects. However, ICT Zone is also looking to expand into the corporate sector to ensure long-term growth.

ICT Zone is considering taking full control of HaaS Technologies Sdn Bhd, in which it holds a 58% stake. HaaS Technologies offers cloud solutions via a subscription model.

Lim also said the company is exploring opportunities in areas like AI-enabled devices and edge computing.

In the financial year ended Jan 31, 2025 (FY2025), ICT Zone reported RM127.8 million in revenue and an RM8.8 million net profit. For the first quarter of FY2026, it posted RM3.33 million in net profit on RM41.62 million revenue.

At noon break on Tuesday, shares of ICT Zone were unchanged at 20 sen, with more than 30 million shares changing hands, valuing the company at RM185.5 million.

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