ICT Zone Asia BhdXKLS:0358 +5.26%63 Altman Z2-Score is 0.21 as of Jul. 04, 2026, which is 79% below its 10-year median of 0.98. GuruFocus rates XKLS:0358 with a GF Score™ of 63/100 and a GF Value™ of RM0.37 (Possible Value Trap). The stock has 6 warning signs investors should review. Among 2,824 Software companies, ICT Zone Asia Bhd ranks worse than 71.46% on this metric.
Altman Z2-Score, also known as Z"-Score, is used to predict the likelihood that a non-manufacturing company (excluding property/financial company) will face bankruptcy within a two-year period.
Warning Sign:
ICT Zone Asia Bhd has a Altman Z2-Score of 0.21, indicating it is in Distress Zones. This implies bankrupcy possibility in the next two years.
The zones of discrimination were as such:
When Altman Z2-Score <= 1.1, it is in Distress Zones.
When Altman Z2-Score >= 2.6, it is in Safe Zones.
When Altman Z2-Score is between 1.1 and 2.6, it is in Grey Zones.
The historical rank and industry rank for ICT Zone Asia Bhd's Altman Z2-Score or its related term are showing as below:
XKLS:0358'
s Altman Z2-Score Range Over the Past 10 Years
Min: 0.02 Med: 0.98 Max: 2.81
Current: 0.21
During the past 7 years, ICT Zone Asia Bhd's highest Altman Z2-Score was 2.81. The lowest was 0.02. And the median was 0.98.
ICT Zone Asia Bhd (XKLS:0358) Altman Z2-Score Explanation
The original Z-Score model was based on publicly traded manufacturing companies while the Z2-Score, also known as Z"-score can be used for any type of company excluding property/financial companies. Both Z-Score and Z2-Score describes the financial health of a company, and its likelihood of financial distress.
X1: The Working Capital/Total Assets (WC/TA) ratio is a measure of the net liquid assets of the firm relative to the total capitalization. Working capital is defined as the difference between current assets and current liabilities. Ordinarily, a firm experiencing consistent operating losses will have shrinking current assets in relation to total assets. Altman found this one proved to be the most valuable liquidity ratio comparing with the current ratio and the quick ratio. This is however the least significant of the five factors.
X2: Retained Earnings/Total Assets: the RE/TA ratio measures the leverage of a firm. Retained earnings is the account which reports the total amount of reinvested earnings and/or losses of a firm over its entire life. Those firms with high RE, relative to TA, have financed their assets through retention of profits and have not utilized as much debt.
X3, Earnings Before Interest and Taxes/Total Assets (EBIT/TA): This ratio is a measure of the true productivity of the firm's assets, independent of any tax or leverage factors. Since a firm's ultimate existence is based on the earning power of its assets, this ratio appears to be particularly appropriate for studies dealing with corporate failure. This ratio continually outperforms other profitability measures, including cash flow.
Altman Z2-Score does not apply to financial companies.
ICT Zone Asia Bhd Altman Z2-Score Related Terms
ICT Zone Asia Bhd Altman Z2-Score Historical Data
* Premium members only.
The historical data trend for ICT Zone Asia Bhd's Altman Z2-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
XKLS:0358 vs IBM, ACN, FISV: Altman Z2-Score Comparison
For the Information Technology Services subindustry, ICT Zone Asia Bhd's Altman Z2-Score, along with its competitors' market caps and Altman Z2-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
ICT Zone Asia Bhd Altman Z2-Score vs Software Industry
For the Software industry and Technology sector, ICT Zone Asia Bhd's Altman Z2-Score distribution charts can be found below:
* The bar in red indicates where ICT Zone Asia Bhd's Altman Z2-Score falls into.
Altman Z-Score model is an accurate forecaster of failure up to two years prior to distress. It can be considered the assessment of the distress of industrial corporations.
Z2-Score, also known as Z"-Score is the Z-Score for non-manufacturing companies excluding property/financial companies.
ICT Zone Asia Bhd's Altman Z2-Score for today is calculated with this formula:
Z
=
6.56
*
X1
+
3.26
*
X2
+
6.72
*
X3
+
1.05
*
X4_2
=
6.56
*
-0.1893
+
3.26
*
0.1413
+
6.72
*
0.0813
+
1.05
*
0.4193
=
0.21
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency. GuruFocus does not calculate Altman Z2-Score when X4_2 value is 0.
ICT Zone Asia Bhd (XKLS:0358) has a Altman Z2-Score of 0.21 as of Jul. 04, 2026. Z2-Score is the Z-Score for non-manufacturing companies excluding property/financial companies, which measures a company's bankruptcy risk. View historical data on ICT Zone Asia Bhd and its competitors. This is 79% below median its historical median of 0.98. Over the past decade, ICT Zone Asia Bhd's Altman Z2-Score has ranged from 0.02 to 2.81. According to the industry distribution chart, ICT Zone Asia Bhd ranks #2018 out of 2824 companies in the Software industry, placing it in the top 71.5%.
Is ICT Zone Asia Bhd's Altman Z2-Score too high?
ICT Zone Asia Bhd's current Altman Z2-Score of 0.21 is 79% below median its 10-year median of 0.98. Over the past 10 years, this metric has ranged from a low of 0.02 to a high of 2.81. The Software industry median Altman Z2-Score is 3.07. ICT Zone Asia Bhd's value of 0.21 is 93.1% below this industry median. Based on the distribution chart, ICT Zone Asia Bhd ranks #2018 out of 2824 companies in the Software industry, which is below the industry midpoint. Overall, ICT Zone Asia Bhd has a GF Score™ of 63/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does ICT Zone Asia Bhd's Altman Z2-Score compare to IBM and ACN?
According to the Software industry distribution chart, ICT Zone Asia Bhd ranks #2018 out of 2824 companies for Altman Z2-Score. This places ICT Zone Asia Bhd in the lower half of its industry. The industry median Altman Z2-Score is 3.07. ICT Zone Asia Bhd's value of 0.21 is 93.1% below this benchmark. Historically, ICT Zone Asia Bhd's own Altman Z2-Score has ranged from 0.02 to 2.81 over the past decade. While the company's 10-year median is 0.98 vs. the industry median of 3.07, ICT Zone Asia Bhd has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Altman Z2-Score for a Software company?
The median Altman Z2-Score among Software companies is 3.07, based on 2,824 companies in the industry. Companies in the top quartile (top 25%) have a Altman Z2-Score significantly above this median, while those in the bottom quartile fall well below. However, Altman Z2-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. ICT Zone Asia Bhd's current Altman Z2-Score of 0.21 is 93.1% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Altman Z2-Score mean?
A high Altman Z2-Score can signal that a stock is expensive relative to its fundamentals. Z2-Score is the Z-Score for non-manufacturing companies excluding property/financial companies, which measures a company's bankruptcy risk. View historical data on ICT Zone Asia Bhd and its competitors. For the Software industry, the median Altman Z2-Score is 3.07 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. ICT Zone Asia Bhd's current Altman Z2-Score is 0.21, which is 79% below median its own 10-year median of 0.98. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ICT Zone Asia Bhd stock overvalued right now?
Based on GuruFocus' analysis, ICT Zone Asia Bhd (XKLS:0358) is currently considered Possible Value Trap. The stock's GF Value™ is RM0.37, compared to a current price of RM0.20 — trading 45.9% below its estimated fair value. The current Altman Z2-Score is 0.21, which is 79% below median its 10-year median of 0.98 and 93.1% below the Software industry median of 3.07. ICT Zone Asia Bhd's overall GF Score™ is 63/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Altman Z2-Score calculated?
Altman Z2-Score is calculated from a company's financial statements. For ICT Zone Asia Bhd (XKLS:0358), the current Altman Z2-Score is 0.21 as of Jul. 04, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is ICT Zone Asia Bhd (XKLS:0358) Overvalued in 2026?
Based on GuruFocus' analysis, ICT Zone Asia Bhd stock appears to be undervalued.
The current stock price of RM0.20 is trading 45.9% below its estimated GF Value™ of RM0.37.
GuruFocus considers ICT Zone Asia Bhd to be Possible Value Trap.
Key valuation signals for XKLS:0358:
Altman Z2-Score: 0.21 (79% below median its 10-year median of 0.98)
GF Value™: RM0.37 vs. price of RM0.20 (45.9% below fair value)
Industry Position: 93.1% below the Software median (#2018 of 2824)
No single metric tells the full story. See the XKLS:0358 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
ICT Zone Asia Bhd is an investment holding company. Along with its subsidiaries, it operates in the following business segments: the Technology financing segment, which involves operating leases of ICT hardware and software; the Trading of ICT hardware and software segment includes outright sales of ICT hardware and software and disposal of ICT assets; Provision of ICT services segment is involved in providing corrective and preventative ICT maintenance services; Provision of cloud solution and services segment offers customised cloud services with architecture solution and outright sales of ICT hardware and software for cloud solution; and Others. Maximum revenue for the group is generated from the Technology financing segment. Geographically, it generates maximum revenue from Malaysia.
63GF Score
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