KUALA LUMPUR (Oct 21): ICT Zone Asia Bhd (KL:ICTZONE) has accepted a purchase order worth RM14.15 million from Starza Corporation Sdn Bhd for the leasing of information and communication technology (ICT) hardware and software for a 36-month period.
In a filing with Bursa Malaysia on Tuesday, the company said the contract was awarded to its wholly owned subsidiary ICT Zone Ventures Bhd for the leasing of desktops, laptops, printers, Microsoft Office software and related peripheral devices to Starza for delivery to a government agency.
The contract, however, does not include ICT services.
ICT Zone said it plans to finance the purchase of hardware and software using a mix of initial public offering (IPO) proceeds, bank borrowings and internally generated funds.
The group expects the order to contribute positively to earnings and net assets over the contract period, although its gearing will rise as borrowings will be used to partially fund the purchase.
Transferring from the LEAP Market, ICT Zone raised RM26.6 million from its ACE Market IPO on June 3, earmarking RM21 million for ICT asset acquisitions to support future leases.
ICT Zone, which provides ICT solutions and technology financing, reported a net profit of RM3.33 million for its first financial quarter ended April 30, 2025 (1QFY2026), on revenue of RM41.62 million, mainly from its technology financing and ICT trading segments.
The group previously said it aims to grow its unbilled order book to RM500 million within the next three years following its ACE Market listing, supported by recurring income from long-term leasing contracts.
Its shares closed up 0.5 sen or 2.94% at 17.5 sen on Tuesday, valuing the group at RM139.2 million.
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