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Strengthening Presence in Singapore, Malaysia, the Philippines, and Launching Corporate and Trust Services in Labuan
SINGAPORE, Aug. 21, 2025 /PRNewswire/ — Ascentium, a leading global business services platform headquartered in Singapore, today announced the successful acquisition of ZICO Holdings‘ (“ZICO”), a corporate services business operating across key ASEAN markets, specifically Singapore, Malaysia, and the Philippines. The acquisition also includes corporate services and trust & trustee services in Labuan. This strategic investment strengthens Ascentium’s presence across Southeast Asia and marks its entry into the Labuan market. With over three decades of success, ZICO contributes its legacy of operational excellence, deep regional experience, and a distinguished portfolio of premium clients. ZICO’s corporate services will be seamlessly integrated into Ascentium’s operations in Singapore, Malaysia, and the Philippines, reinforcing the firm’s proficiency in corporate secretarial services, trust administration, and regulatory compliance.
With ZICO’s corporate services division now part of the Ascentium platform, clients will benefit from an expanded suite of services across multiple markets, while continuing to receive high-quality corporate and fiduciary solutions. This expansion builds on Ascentium’s 2024 acquisition of InCorp Global, a leading provider of corporate services and business advisory solutions, which is expected to complete its brand transition to Ascentium by 2026.
Ascentium is committed to delivering comprehensive, technology-enabled business services across Asia-Pacific and beyond. This investment underscores Ascentium’s strategic expansion across Asia Pacific to offer diversified corporate services, as highlighted by recent key milestone acquisitions such as Links International, the region’s leading HR outsourcing technology partner, and Harneys Fiduciary, a specialist in cross-border corporate, fund, and trust services with established global offices in Singapore, Hong Kong SAR, and Shanghai.
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.”
Datuk Kelvin Ng, Group Chief Executive Officer of ZICO Holdings, 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.”
(From left to right) Lennard Yong, Founding Management and Group CEO of Ascentium & Datuk Kelvin Ng, Group Chief Executive Officer of ZICO Holdings
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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 ascentium.com.
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.
