Ascentium Expands Southeast Asia Reach with ZICO Acquisition

Deal News | Aug 21, 2025 | PR Newswire Cision Ascentium

Ascentium, a major global business services platform based in Singapore, has officially expanded in Southeast Asia by acquiring ZICO Holdings' corporate services business. ZICO operates in key ASEAN markets, including Singapore, Malaysia, and the Philippines, and offers corporate services in Labuan. Through this strategic acquisition, Ascentium reinforces its position in the region and enters the Labuan market, integrating ZICO's offerings into its operations. This transaction builds on Ascentium's previous acquisition of InCorp Global in 2024 and aligns with its mission to offer comprehensive business services across Asia-Pacific. ZICO is recognized for its in-depth regional knowledge and a robust governance framework, allowing Ascentium to deliver enhanced corporate secretarial services, trust administration, and regulatory compliance. Notable executives such as Lennard Yong, Ascentium's Group CEO, and Datuk Kelvin Ng, Group CEO of ZICO Holdings, have highlighted the importance of this acquisition in Ascentium's growth strategy in Southeast Asia.

Sectors

  • Business Services
  • Corporate Governance
  • Financial Services

Geography

  • Southeast Asia – The acquisition focuses on expanding Ascentium's footprint in key ASEAN markets like Singapore, Malaysia, and the Philippines.
  • Labuan, Malaysia – The acquisition marks Ascentium's entry into the Labuan market through its corporate services and trust offerings.

Industry

  • Business Services – The acquisition enhances Ascentium's business services offerings, integrating ZICO's corporate services into its platform.
  • Corporate Governance – ZICO's reputation for strong governance plays a significant role in Ascentium's decision to acquire its corporate services.
  • Financial Services – The acquisition includes trust and fiduciary services, which are key components of financial services.

Financials

    Participants

    NameRoleTypeDescription
    AscentiumAcquiring CompanyCompanyA leading global business services platform headquartered in Singapore.
    ZICO HoldingsTarget CompanyCompanyAn integrated provider of multidisciplinary professional services in the ASEAN region.
    Lennard YongFounding Management and Group CEO of AscentiumPersonLed the acquisition and played a key role in Ascentium's strategic expansion in Southeast Asia.
    Datuk Kelvin NgGroup Chief Executive Officer of ZICO HoldingsPersonCEO of ZICO Holdings, ensuring a smooth transition of the corporate services to Ascentium.