Icetana enters Malaysian market

Icetana (ASX:ICE), a provider of AI-driven video analytics software, has signed its first contract in Malaysia. The deal is worth $465,000 AUD and spans three years. It involves AE Security System and 1 Utama, Malaysia's largest shopping mall, boosting Icetana's annual recurring revenue by $155,000 AUD.

Icetana's strategic market expansion

Icetana's entry into the Malaysian market through a $465,000 contract with AE Security System and 1 Utama shopping mall highlights its focus on expanding in regions with large-scale retail venues. The software-as-a-service deal is expected to enhance Icetana's annual recurring revenue and solidify its presence in the AI-driven video analytics sector. The company's strategy involves targeting large shopping malls and working closely with security integrators, which aligns with their broader corporate goals. Despite inherent risks, this move marks a significant growth opportunity for Icetana.

CEO's perspective on Malaysian expansion

We are excited to partner with AE Security System to deliver our autonomous security solutions to 1 Utama. This partnership marks an important step for Icetana in the Malaysian market, aligning with our strategy to work with security integrators in the retail sector.