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ZICO Holdings Divests Corporate Services to Ascentium as it Sharpens Focus on Core Regulated Businesses

Singapore, 21 August 2025 – ZICO Holdings Inc. (“ZICO” or the “Group”) has completed the divestment of its Corporate Services businesses in Singapore, Malaysia, the Philippines, and Labuan (including Trust & Trustee Services) to Ascentium, a leading global business services platform headquartered in Singapore.

This decision marks a strategic move in ZICO’s roadmap, underscoring its commitment to adapt to changing market dynamics and strengthen its long-term competitiveness. By focusing on its regulated core businesses in wealth management, trust, capital markets, and corporate finance across key ASEAN markets, and divesting its Corporate Services businesses to Ascentium, the Group seeks to streamline operations, enhance organisational agility, and build capacity to further develop its specialised expertise in regulated sectors.

With Ascentium actively expanding its footprint across Asia Pacific to offer a wider range of corporate services, ZICO’s Corporate Services team will now serve a broader client base with greater capabilities.

Datuk Kelvin Ng, Group Chief Executive Officer, ZICO Holdings Inc. said, “This demonstrates a pivotal moment for ZICO Holdings as we transition our well-established corporate services teams in Malaysia, Singapore, and the Philippines to Ascentium. Over the years, our teams have built a strong reputation for professionalism, trust, and regional knowledge. We are confident that Ascentium’s leadership, platform, and global reach will enable our colleagues and valued clients to access new opportunities and enhanced solutions. We thank our outstanding team members for their dedication and commitment and look forward to seeing them thrive as part of Ascentium’s growing family under Lennard’s leadership.”

Lennard Yong, Founding Management and Group CEO of Ascentium, commented: “The acquisition marks an important advance in our Southeast Asia growth strategy and represents a crucial milestone toward building a leadership team with unmatched regional expertise. I appreciate Kelvin’s trust and ZICO’s network in Southeast Asia, and warmly welcome ZICO’s corporate services team to Ascentium. We value their entrepreneurial culture and market knowledge. ZICO’s strong governance framework, premium client base, and local know-how align with our mission to deliver transformative business services.”

About ZICO Holdings
ZICO Holdings Inc. (“ZICO” and together with its subsidiaries and associated companies, the “Group”) is an integrated provider of multidisciplinary professional services. ZICO was listed on the Catalist Board of the Singapore Exchange Securities Trading Limited on 11 November 2014. ZICO is widely regarded as the Trusted Advisors and Go-To Professional Services Provider of business solutions in the ASEAN region. Through its multidisciplinary services, regional capabilities and local insights, ZICO creates a unique brand offering that enables its clients to capitalise on opportunities across Southeast Asia.

For more information, please visit www.zicoholdings.com

About Ascentium
Ascentium is a leading global business services platform dedicated to helping businesses scale greater heights. Headquartered in Singapore, we empower extraordinary growth through specialised expertise and comprehensive one-stop solutions in corporate services, finance and accounting, HR services, and fiduciary and trust services. Our team of 2,300+ professionals spans 44 cities across 22 markets in Asia-Pacific, the Middle East, the Americas, and Europe, serving 50,000+ client entities across diverse industries. Through innovative, technology-enabled solutions and a collaborative approach, Ascentium drives transformative growth, helping clients navigate complex global environments.

For more information, please visit www.ascentium.com

Media Contacts
• Haziq Norizan – Senior Manager, Marketing & Communications, ZICO Holdings Inc. (haziq.norizan@zicoholdings.com)
• Nancy So – Associate Director, Group Marketing, Ascentium (nancy.so@ascentium.com)