[Q] ninetology i7520 rooting with newest Android version?

Hi All.

I have 4.0.3 version on my ninetology stealth i7520 version which I bought in Malaysia. I would like to know if I can install the newest version of Android or any other higher version? Basically this device has only 512 mb ram,1.0 GHz processor and 500mb + 2 Gb internal memory. So I dont know whether anyone had experience on rooting this device on higher versions, if yes, how does it work? any trouble as ram isnt so large?
thanks for your advises.

Regards.