ICT Zone Asia Bhd made its debut on the ACE Market of Bursa Malaysia today, opening at 20 sen and trading at 19.5 sen as of 9.08am, marking a slight dip of 2.5% from its reference price.
The technology company saw active interest with over 53.6 million shares changing hands within the first hour of trading. The stock hit a high of 20 sen and a low of 19 sen, with strong buy and sell volumes observed.
Despite the modest start, ICT Zone enters the market with robust financials. The group recently posted a 53.4% growth in EBITDA to RM73.9 million, with margins improving to 57.8% from 42.1% the year before. Revenue for the half-year ended Jan 31, 2025, rose 25% to RM70.1 million, driven by gains in its technology financing and trading segments.
Managing Director and CEO Tommy Lim Kok Kwang said the company is targeting RM500 million in unbilled orders within three years, adding to its current RM261.2 million unbilled order book.
