ICT Zone Asia Bhd, Malaysia’s pioneer technology financing (TechFin) outfit, has accepted a purchase order (PO) valued at RM17.75 mil from Kuala Lumpur-based IT services and consulting firm FK Technology Sdn Bhd.
Received by the group’s wholly owned subsidiary ICT Zone Sdn Bhd on March 5, the PO involves the supply and delivery of electronic display systems and related information and communication technology (ICT) hardware.
“The scope of the contract includes ancillary works required for the installation and operation of the equipment, including electrical works, ICT infrastructure, consultant services and the procurement of relevant local authority licences,” the group stated in its Bursa Malaysia filing.
Furthermore, ICT Zone Asia will oversee the ancillary works required for the installation and operation of the equipment which encompasses electrical works, ICT infrastructure, consultant services and the procurement of relevant local authority licences.
The PO shall be fulfilled upon delivery on a date to be determined and agreed upon by both parties in due course, according to the group.
As it is, ICT Zore Asia has proposed to utilise bank borrowings and/or internally generated funds to finance the purchase of ICT hardware.
Nevertheless, the group contended that the PO will not have any effect on its issued share capital and substantial shareholders’ shareholdings.
Instead, the PO is expected to contribute positively to the earnings per share and net assets per share of the group and its subsidiaries upon fulfilment of the PO.
“As ICT Zone Asia and its subsidiaries are already involved in the business of trading of ICT hardware and software, there will be no new business risk inherent to the PO save for the specific risks inherent to the PO such as prompt and full delivery of the PO,” noted the group.
Ultimately, the fulfilment of the PO is expected to contribute positively to the earnings per share and net assets per share of group.
At 3.33pm, ICT Zone Asia was down 0.5 sen or 2.78% to 17.5 sen with 116,400 shares traded, thus valuing the company at RM139 mil. – March 6, 2026
