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KUALA LUMPUR, Malaysia, Sept. 03, 2024 (GLOBE NEWSWIRE) -- VCI Global Limited (NASDAQ: VCIG) (Frankfurt: H0T) (“VCI Global,” “VCIG,” or the “Company”) is pleased to announce that it has secured a major contract with Legacy Corporate Advisory Sdn Bhd (“Legacy”), a premier consulting firm based in Malaysia. Valued at approximately US$18 million, this significant deal is set to bring four high-potential Malaysian-based companies across diverse industries, including telecommunications, waste management, healthcare and beauty, and leisure to the Nasdaq stock exchange. The companies set to debut on the Nasdaq stock exchange through this groundbreaking deal include: Neutral Transmission Malaysia Sdn Bhd – Specializes in developing and leasing of telecommunications infrastructure, with a focus on fiber optic networks for retail service operators. I Bella Sdn Bhd – Provides a comprehensive range of services, including aesthetic treatments, general medical services, skincare products, and beauty and wellness solutions. AE Carbon Capital Ltd – Specializes in waste management and resource recovery, green building practices, energy efficiency, project management and advisory services, and green technology solutions. Autoplay Group Sdn Bhd – Operates and manages go-kart racing facilities, event management services, cafeteria operations, and provides film production and advertising services. This major contract not only enhances VCIG’s impressive IPO solutions pipeline, now comprising 10 active deals, but also reinforces the Company’s strong market position. The anticipated revenue from these four new Nasdaq listings is projected to be approximately US$18 million over the next 14 months. “Securing this deal with Legacy is a testament to VCI Global’s strength and industry leadership. This contract not only broadens our portfolio but also underscores our capability to deliver high-impact results for our clients. We look forward to supporting these innovative Malaysian-based companies as they make their mark on the Nasdaq,” said Dato’ Victor Hoo, Group Executive Chairman and Chief Executive Officer of VCI Global. About VCI Global Limited VCI Global is a diversified holding company headquartered in Kuala Lumpur, Malaysia. The Company operates through six core businesses: Capital Market Consultancy, Fintech, Real Estate, Data Center, AI & Robotics, and Cybersecurity. In Capital Market Consultancy, we provide IPO solutions, investor relations (IR) and public relations (PR) consultancy, and M&A consultancy. Our Fintech arm offers a proprietary financing platform. In Real Estate, we offer specialized real estate consultancy services. The Data Center delivers GPU cloud computing services, while the AI & Robotics segment focuses on AI-driven large language models (LLMs) and post-harvest robotics systems. Our Cybersecurity segment provides comprehensive cybersecurity consultancy services and solutions. Committed to fostering innovation and delivering exceptional value, VCI Global has established a strong presence across the Asia-Pacific region, the United States, Europe, and the Middle East, driving growth and transformation on a global scale. For more information on the Company, please log on to https://v-capital.co/. Cautionary Note Regarding Forward-Looking Statements This press release contains forward-looking statements that are subject to various risks and uncertainties. Such statements include statements regarding the Company’s ability to grow its business and other statements that are not historical facts, including statements which may be accompanied by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. These forward-looking statements are based only on our current beliefs, expectations, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict and many of which are outside of our control. Therefore, you should not rely on any of these forward-looking statements. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company’s ability to achieve profitable operations, customer acceptance of new products, the effects of the spread of coronavirus (COVID-19) and future measures taken by authorities in the countries wherein the Company has supply chain partners, the demand for the Company’s products and the Company’s customers’ economic condition, the impact of competitive products and pricing, successfully managing and, general economic conditions and other risk factors detailed in the Company’s filings with the United States Securities and Exchange Commission (“SEC”). The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any responsibility to update the forward-looking statements in this release, except in accordance with applicable law. CONTACT INFORMATION: For media queries, please contact: VCI Global Limitedenquiries@v-capital.co
KUALA LUMPUR, Malaysia, Aug. 27, 2024 (GLOBE NEWSWIRE) -- VCI Global Limited (NASDAQ: VCIG) (Frankfurt: H0T) (“VCI Global,” “VCIG,” or the “Company”) is pleased to announce that its Chief Executive Officer, Dato’ Victor Hoo, has significantly increased his shareholding in the Company. This move, along with the recent share buyback program announced on August 19, 2024, and the Company’s strong financial performance for the first half of 2024, highlights VCIG’s impressive growth trajectory and positive outlook. Prior to the transaction, Dato’ Victor Hoo beneficially owned and controlled 12.05% of the Company’s total outstanding shares, comprising 10.72% held directly and 1.33% of indirect shareholding through V Invesco Fund (L) Limited, a company he owns. Following the transaction, he now beneficially owns and controls a total of approximately 27.32% of the Company’s total outstanding shares. This represents an increase of 15.27% in his overall shareholding, underscoring his strong confidence in the Company’s strategic direction and future growth potential. The CEO’s investment, combined with the impressive financial results for the first half of 2024, reflects VCIG’s strong growth prospects and commitment to long-term success. The Company reported notable financial metrics, including a 44% year-over-year increase in revenue, a 57% rise in gross profit, and a 25% growth in net income. These results are aligned with our full-year guidance of a 65% increase in revenue and 68% rise in gross profit for the financial year 2024, and may exceed these targets if current trends continue. “I am deeply committed to VCI Global and its vision for long-term growth. My increased investment is a clear endorsement of the Company’s direction and performance. Alongside our strong financial results and share buyback program, it reinforces my confidence in our continued success and our ability to deliver lasting value to shareholders,” said Dato’ Victor Hoo, Group Executive Chairman and Chief Executive Officer of VCI Global. About VCI Global Limited VCI Global is a diversified holding company. Through its subsidiaries, it focuses on consulting, fintech, AI, robotics, and cybersecurity. Based in Kuala Lumpur, Malaysia, our main operations are centered in Asia, with significant visibility across Asia Pacific, the United States, Europe, and the Middle East. VCIG primarily offers consulting services in capital markets, real estate, AI, and technology. In technology businesses, the Company operates a proprietary financing platform that serves companies and individuals, as well as a secured messaging platform serving governments and organizations. We also invest, incubate, accelerate, and commercialize businesses and technologies in AI and robotics. For more information on the Company, please log on to https://v-capital.co/. Cautionary Note Regarding Forward-Looking Statements This press release contains forward-looking statements that are subject to various risks and uncertainties. Such statements include statements regarding the Company’s ability to grow its business and other statements that are not historical facts, including statements which may be accompanied by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. These forward-looking statements are based only on our current beliefs, expectations, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict and many of which are outside of our control. Therefore, you should not rely on any of these forward-looking statements. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company’s ability to achieve profitable operations, customer acceptance of new products, the effects of the spread of coronavirus (COVID-19) and future measures taken by authorities in the countries wherein the Company has supply chain partners, the demand for the Company’s products and the Company’s customers’ economic condition, the impact of competitive products and pricing, successfully managing and, general economic conditions and other risk factors detailed in the Company’s filings with the United States Securities and Exchange Commission (“SEC”). The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any responsibility to update the forward-looking statements in this release, except in accordance with applicable law. CONTACT INFORMATION: For media queries, please contact: VCI Global Limitedenquiries@v-capital.co
KUALA LUMPUR, Malaysia, Aug. 19, 2024 (GLOBE NEWSWIRE) -- VCI Global Limited (NASDAQ: VCIG) (Frankfurt: H0T) (“VCI Global,” “VCIG,” or the “Company”), a diversified holding company specializing in consulting, fintech, artificial intelligence (AI), robotics and cybersecurity, is proud to announce its unaudited financial results for the six months ended June 30, 2024 (the “Interim Results”) (the “Financial Results”). Financial Highlights VCI Global achieved an impressive total revenue of $13.7 million for the six months ended June 30, 2024, marking a 44% YoY growth. Gross profit experienced a substantial YoY growth of 57%, reaching $12.9 million for the six months ended June 30, 2024. Net income surged to $5.4 million for the six months ended June 30, 2024, reflecting a remarkable growth of 25%. VCIG’s business strategy consultancy revenue experienced a remarkable 151% YoY surge, reaching $11.2 million for the six months ended June 30, 2024. VCIG’s fintech segment revenue experienced an impressive 183% YoY growth, reaching $0.7 million for the six months ended June 30, 2024. Authorization of a Share Repurchase Program VCIG’s Board of Directors has authorized the implementation of a share repurchase program for up to US$10 million of the Company’s outstanding ordinary shares over the next two years (the “Repurchase Program”). Under the Repurchase Program, VCIG may repurchase for cash, from time to time, its ordinary shares through open market purchases pursuant to a Rule 10b-18 plan, in compliance with applicable securities laws and other legal requirements. The Company’s proposed repurchases may be made from time to time on the open market at prevailing market prices, through negotiated transactions off the market, in block trades, or through other legally permissible means. The timing and extent of any repurchases will be influenced by market conditions, the trading price of its ordinary share, and other factors. These repurchases will also adhere to restrictions relating to volume, price, and timing under applicable law. VCI Global expects to implement this Repurchase Program in a manner consistent with market conditions and the interests of the Company’s shareholders. VCIG’s Board of Directors will review the Repurchase Program periodically and may authorize adjustments to its terms and size accordingly. “Our outstanding performance for the six months ended 2024 is a testament to the exceptional efforts and dedication of our team. We have successfully advanced our strategic initiatives and strengthened our position in the market. Looking ahead, we remain committed to leveraging our expertise to drive continued growth and deliver unparalleled value to our clients. Our focus remains on innovation and excellence, and we are excited about the opportunities that lie ahead as we build on this momentum for future success,” said Dato’ Victor Hoo, Group Executive Chairman and Chief Executive Officer of VCI Global. Financial Results Revenue was $13.7 million for the six months ended June 30, 2024, representing a 44% YoY increase from $9.5 million for the six months ended June 30, 2023. This increase in revenue was primarily attributable to our ability to offer market-leading services that add value to clients through our business strategy consultancy service offerings and solutions. VCIG’s revenue generated from business strategy consultancy segment increased by 151% to $11.2 million for the six months ended June 30, 2024, compared to $4.5 million for the six months ended June 30, 2023. The gross profit margin of the business strategy consultancy revenue was 93% for the six months ended June 30, 2024, compared to 73% for the six months ended June 30, 2023. The Company’s revenue generated from fintech segment increased by 183% to $0.7 million for the six months ended June 30, 2024, compared to $0.2 million for the six months ended June 30, 2023. For the Six Months Ended June 30 2024 2023 Change USD USD % Business strategy consultancy fee 11,160,748 4,453,647 150.6 % Technology development, solutions and consultancy 1,748,959 4,227,387 (58.6 )% Interest income 677,086 239,645 182.5 % Others 139,908 604,631 (76.9 )% Total revenue 13,726,701 9,525,310 44.1 % Other Income for the six months ended June 30, 2024, was $104 thousand, reflecting a decrease of 54% compared to $226 thousand for the six months ended June 30, 2023. EBITDA reached $5.7 million for the six months ended June 30, 2024, reflecting a 41% margin on revenue and a notable increase of 26%, compared to $4.5 million for the six months ended June 30, 2023. This surge was primarily driven by a rise in operating income. Net Income amounted to $5.4 million for the six months ended June 30, 2024, reflecting a 39% margin on revenue and a significant 25% increase from $4.3 million for the six months ended June 30, 2023. Cost of Services was $844 thousand for the six months ended June 30, 2024, representing a significant decrease of 35% from $1.3 million for the six months ended June 30, 2023. Consultant fee costs significantly decreased by $481 thousand, or 40%, to $735 thousand for the six months ended June 30, 2024. These costs represent the expenses incurred by the Company for assisting its clients in engaging all the relevant professionals required during the listing process, including but not limited to legal counsel, auditors, financial consultants, and U.S. capital markets consultants. Such consultant fee payments are included and treated as part of our consultation services for clients during the IPO process. IT expenses amounted to $9 thousand for the six months ended June 30, 2024, reflecting a significant decrease of 77% compared to $39 thousand for the six months ended June 30, 2023. The gross profit margin of the technology development, solutions and consultancy revenue was 99.5% for the six months ended June 30, 2024. Training costs amounted to $10 thousand for the six months ended June 30, 2024, reflecting a 76% decrease compared to $41 thousand for the six months ended June 30, 2023. Other cost of services amounted to $90 thousand for the six months ended June 30, 2024. For the Six Months Ended June 30 2024 2023 Change USD USD % Consultant fee 734,589 1,216,000 (39.6 )% IT expenses 8,904 38,705 (77.0 )% Training costs 10,098 41,217 (75.5 )% Other 90,461 - 100.0 % Total 844,052 1,295,922 (34.9 )% Depreciation expenses amounted to $108 thousand for the six months ended June 30, 2024, reflecting an 84% increase from $59 thousand for the six months ended June 30, 2023. The increase was primarily due to acquisition of additional assets, such as new computers and accessories purchased for our newly joined employees during the first half of 2024. Directors’ fees amounted to $2.3 million for the six months ended June 30, 2024, representing a 94% growth, compared to $1.2 million for the six months ended June 30, 2023. This increase was due to the rise in directors’ fees effective from January 2024. Additionally, in the prior period, the Company only began paying directors’ fees to the Board of Directors starting from April 2023, upon the Company’s listing on Nasdaq. Operating Income increased to $5.6 million for the six months ended June 30, 2024, reflecting a remarkable increase of 26% compared to $4.4 million for the six months ended June 30, 2023. As a result, profit for the period was $5.4 million for the six months ended June 30, 2024, marking a strong 25% increase compared to $4.3 million for the six months ended June 30, 2023. Cash Position and Capital Allocation Net cash used in operating activities was $4.1 million for the six months ended June 30, 2024, a slight increase of $0.5 million, from $3.7 million for the six months ended June 30, 2023. This figure consists of our profit before tax of $5.6 million and was adjusted for non-cash items, including $1.3 million for share-based payment for director fee, and the changes in operating assets and liabilities were $11.4 million of increase in trade and other receivables and $348 thousand of increase in trade and other payables. Net cash used in investing activities was $4.6 million for the first six months ended June 30, 2024, significantly increase as compared to $2.8 million generated from the six months ended June 30, 2023. Cash used in or generated from investing activities was mainly due to a $5.7 million investment in Fintech Scion Limited as part of our professional fees and $1.9 million from the disposal of our shares in YY Group Holding Limited. Net cash generated from financing activities amounted to $8.6 million for the six months ended June 30, 2024, representing an increase of $5.2 million from $3.3 million for the six months ended June 30, 2023. This increase was mainly due to $8.8 million in proceeds from the At-The-Market Offering (ATM), private placements, warrant exercises, and follow-on public offerings. Cash and cash equivalents amounted to $1.2 million for the six months ended June 30, 2024, representing a decrease of 62%, compared to $3.3 million for the six months ended June 30, 2023. The Company believes this amount, along with planned actions, will be sufficient to fund operations for at least the next 12 months. To improve liquidity, the Company plans to enhance the collection of outstanding receivables totaling $30.1 million as of June 30, 2024, and reduce general and administrative expenses. About VCI Global Limited VCI Global is a diversified holding company. Through its subsidiaries, it focuses on consulting, fintech, AI, robotics, and cybersecurity. Based in Kuala Lumpur, Malaysia, our main operations are centered in Asia, with significant visibility across Asia Pacific, the United States, Europe, and the Middle East. VCIG primarily offers consulting services in capital markets, real estate, AI, and technology. In technology businesses, the Company operates a proprietary financing platform that serves companies and individuals, as well as a secured messaging platform serving governments and organizations. We also invest, incubate, accelerate, and commercialize businesses and technologies in AI and robotics. For more information on the Company, please log on to https://v-capital.co/. Cautionary Note Regarding Forward-Looking Statements This press release contains forward-looking statements that are subject to various risks and uncertainties. Such statements include statements regarding the Company’s ability to grow its business and other statements that are not historical facts, including statements which may be accompanied by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. These forward-looking statements are based only on our current beliefs, expectations, and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy, activities of regulators, future regulations, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict and many of which are outside of our control. Therefore, you should not rely on any of these forward-looking statements. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company’s ability to achieve profitable operations, customer acceptance of new products, the effects of the spread of coronavirus (COVID-19) and future measures taken by authorities in the countries wherein the Company has supply chain partners, the demand for the Company’s products and the Company’s customers’ economic condition, the impact of competitive products and pricing, successfully managing and, general economic conditions and other risk factors detailed in the “Risk Factors” section of the Annual Report on 20-F of the Company for the year ended December 31, 2023, filed with the United States Securities and Exchange Commission (“SEC”) on April 30, 2024, and its subsequent SEC filings. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any responsibility to update the forward-looking statements in this release, except in accordance with applicable law. CONTACT INFORMATION: For media queries, please contact: VCI Global Limitedenquiries@v-capital.co Financial Tables can be viewed here: https://www.globenewswire.com/en/news-release/2024/08/19/2932096/0/en/VCI-Global-Announces-44-Revenue-Growth-in-Its-Financial-Results-for-the-Six-Months-Ended-June-30-2024-Announces-US-10-Million-Share-Repurchase-Program-Over-2-Years.html
KUALA LUMPUR, Malaysia, July 26, 2024 (GLOBE NEWSWIRE) -- VCI Global Limited (NASDAQ: VCIG) (Frankfurt: H0T) (“VCI Global”, “VCIG”, or the “Company”), an AI and technology aggregator, is thrilled to announce its entry into a groundbreaking AI Computing Alliance (“AICA”). This is a collaborative initiative led by Enlight Corporation (TWSE: 2438) (“Enlight”), and Super Micro Computer, Inc. (NASDAQ: SMCI) (“Supermicro”) and other alliance partners including Fortinet, Inc., UNIC Technology Corp., Bingo Group Holdings Limited, J&V Energy Technology Co., Ltd., Red Building Capital, ZoobeTek, iSpan International Inc., and Bulky Animation Studio. This alliance will jointly establish AI Computing Centers (AICCs) and advance the AI ecosystem. The first AICC, a high-performance computing facility, will be established in Taiwan. It is spearheaded by Enlight in partnership with Supermicro, Chief Telecom Inc., VMFive, Infinitix Inc., and Inventec Besta Co., Ltd. The AICC will be powered by NVIDIA H200 Tensor Core GPUs, which offer 1.43 times the performance speed compared to the NVIDIA H100 Tensor Core GPUs. With 256 units of NVIDIA H200 Tensor Core GPUs generating a total of 93 PFLOPS of AI computing power, this AICC is estimated to rank 15th globally in AI computing power, making it one of the fastest AI data centers in Asia. This AICC will deliver premier services by offering GPU as a Service (GPUaaS) for various entities such as governments, financial institutions, and businesses. The Taiwan AICC is expected to commence operations by the end of 2024. VCI Global will serve as the strategic partner in the AICA initiatives with plans to establish the first AICC in Malaysia by the second quarter of 2025. This Malaysian AICC, which will replicate the Taiwan AICC’s model, will act as a central hub for advancing AI research, development, and application, driving industry growth and enhancing Malaysia’s prominence in the global AI landscape. After establishing AICCs in Taiwan and Malaysia, the AICA intends to develop additional AICCs globally, including in Singapore, Hong Kong, Japan, and Indonesia. This expansion aims to meet the anticipated high demand for computing power driven by Large Language Models (LLMs) and the increasing use of AI applications. Research from MarketsandMarkets indicates that the global LLM market is expected to grow rapidly, with a compound annual growth rate (CAGR) of over 30%, projected to increase from approximately US$7 billion in 2024 to over US$35 billion in 2030. This initiative is part of a broader strategy to create AI computing centers worldwide, addressing the growing need for computing power. VCI Global’s involvement supports AICA’s mission to become a leading platform for AI computation, drive technological innovation, and promote the widespread adoption of AI technologies globally. “We are excited to have VCIG to participate in the alliance to serve our interest in Southeast Asia, where we believe their involvement will further accelerate the success of the alliance. We look forward to developing our next AICC in Malaysia in the near future,” said Mr. Sam Ding, Chief Executive Officer of the AICA Taiwan. “We are extremely excited about entering this alliance and participating in such a formidable alliance to advance the AI ecosystem to better serve the region,” said Dato’ Victor Hoo, Group Executive Chairman and Chief Executive Officer of VCI Global. About VCI Global Limited VCI Global is a diversified holding company. Through its subsidiaries, it focuses on consulting, fintech, AI, robotics, and cybersecurity. Based in Kuala Lumpur, Malaysia, our main operations are centered in Asia, with significant visibility across Asia Pacific, the United States, Europe, and the Middle East. VCIG primarily offers consulting services in capital markets, real estate, AI, and technology. In technology businesses, the company operates a proprietary financing platform that serves companies and individuals, as well as a secured messaging platform serving governments and organizations. We also invest, incubate, accelerate, and commercialize businesses and technologies in AI and robotics. For more information on the Company, please log on to https://v-capital.co/. About Enlight Corporation Enlight strives to serve the customers by focusing on product design requirements, process and quality enhancement. In May 2019, Enlight launched a brand that provides household appliances in Taiwan through both online and offline. The company expanded into beauty and skincare markets, distributing Swiss salon skincare brand “BelleWave” and its own brand “Jubilux”. For additional detail, please visit https://www.enlightcorp.com.tw/. About Super Micro Computer, Inc. Supermicro is a global technology leader committed to delivering first-to-market innovation for Enterprise, Cloud, AI, Metaverse, and 5G Telco/Edge IT Infrastructure. We are a Rack-Scale Total IT Solutions provider that designs and builds an environmentally friendly and energy-saving portfolio of servers, storage systems, switches, software, along with global support services. For more information, please visit https://www.supermicro.com/en/. Cautionary Note Regarding Forward-Looking Statements This press release contains forward-looking statements that are subject to various risks and uncertainties. Such statements include statements regarding the Company’s ability to grow its business and other statements that are not historical facts, including statements which may be accompanied by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company’s ability to achieve profitable operations, customer acceptance of new products, the effects of the spread of Coronavirus (COVID-19) and future measures taken by authorities in the countries wherein the Company has supply chain partners, the demand for the Company’s products and the Company’s customers’ economic condition, the impact of competitive products and pricing, successfully managing and, general economic conditions and other risk factors detailed in the Company’s filings with the United States Securities and Exchange Commission (SEC). The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any responsibility to update the forward-looking statements in this release, except in accordance with applicable law. CONTACT INFORMATION: For media queries, please contact: VCI Global Limited enquiries@v-capital.co
KUALA LUMPUR, Malaysia, July 09, 2024 (GLOBE NEWSWIRE) -- VCI Global Limited (NASDAQ: VCIG) (Frankfurt: H0T) (“VCI Global”, “VCIG”, or the “Company”), a leading provider of business and technology consulting services, today announced a strategic joint venture with Cogia AG (“Cogia”), a German technology company specializing in AI and secure communication solutions. Key Highlights of the Joint Venture: VCIG and Cogia will form a new entity with a 70/30 ownership split, respectively. The new entity which will be named as AiSecure Limited (“AiSecure”) will own 100% ownership of Cogia’s military-grade secure messenger platform. Cogia will lead future development efforts, including integrating secure AI technology into the messenger. The joint venture aims to grow AiSecure over the next 12-18 months to meet NASDAQ listing eligibility requirements. This partnership combines VCIG’s expertise in business strategy and technology consulting with Cogia’s innovative secure communication solutions. The Cogia secure messenger, known for its military-grade end-to-end encryption, provides users with complete control over their personal messages, photos, videos, and documents. The integration of secure AI technology into the messenger platform is expected to enhance its capabilities and user experience. Cogia has already demonstrated its expertise in AI implementation, being the first secure messenger provider to incorporate generative AI into its products. As part of the growth strategy, the joint venture plans to leverage VCIG’s international presence in Malaysia, China, Singapore, the United States, and the United Kingdom to expand the messenger’s global user base. The companies aim to position AiSecure for a potential NASDAQ listing within the next 12-18 months, subject to meeting all necessary requirements. “This joint venture represents a significant step in our growth strategy. By partnering with Cogia AG, we are expanding our technology portfolio and entering the rapidly growing secure communication market. We believe this collaboration will drive substantial value for our shareholders and customers alike,” said Dato’ Victor Hoo, Group Executive Chairman and Chief Executive Officer of VCI Global. About VCI Global Limited VCI Global is a diversified holding company. Through its subsidiaries, it focuses on consulting, fintech, AI, robotics, and cybersecurity. Based in Kuala Lumpur, Malaysia, our main operations are centered in Asia, with significant visibility across Asia Pacific, the United States, Europe, and the Middle East. VCIG primarily offers consulting services in capital markets, real estate, AI, and technology. In technology businesses, the company operates a proprietary financing platform that serves companies and individuals, as well as a secured messaging platform serving governments and organizations. We also invest, incubate, accelerate, and commercialize businesses and technologies in AI and robotics. For more information on the Company, please log on to https://v-capital.co/. About Cogia AG Cogia AG is a Frankfurt-based technology company offering innovative tools for secure communication, AI-based products, and solutions in customer experience, web and social media monitoring, market research, and open-source intelligence. Cautionary Note Regarding Forward-Looking Statements This press release contains forward-looking statements that are subject to various risks and uncertainties. Such statements include statements regarding the Company’s ability to grow its business and other statements that are not historical facts, including statements which may be accompanied by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company’s ability to achieve profitable operations, customer acceptance of new products, the effects of the spread of Coronavirus (COVID-19) and future measures taken by authorities in the countries wherein the Company has supply chain partners, the demand for the Company’s products and the Company’s customers’ economic condition, the impact of competitive products and pricing, successfully managing and, general economic conditions and other risk factors detailed in the Company’s filings with the United States Securities and Exchange Commission (SEC). The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any responsibility to update the forward-looking statements in this release, except in accordance with applicable law. CONTACT INFORMATION: For media queries, please contact: VCI Global Limitedenquiries@v-capital.co
KUALA LUMPUR, Malaysia, June 28, 2024 (GLOBE NEWSWIRE) -- VCI Global Limited (NASDAQ: VCIG) (“VCI Global”, “VCIG”, or the “Company”), a diversified holding company specializing in consulting, fintech, AI, robotics and cybersecurity, is pleased to announce its secondary listing on the Frankfurt Stock Exchange under the ticker symbol “H0T” (Frankfurt: H0T) in the Open Market. This strategic move marks a significant step in enhancing VCIG’s global presence and expanding its shareholder base to European investors. This new listing underscores VCIG’s commitment to innovation and growth in key sectors, aiming to capture new opportunities in Europe’s dynamic business landscape. The Frankfurt Stock Exchange, the largest stock exchange in Germany and one of the largest globally, ranked third in Europe just after Euronext and the London Stock Exchange, with a market capitalization of US$2.17 trillion (€1.97 trillion) at the end of 2023, according to Statista, highlighting its significant role in European financial markets. SAP, the largest listed company with a market cap exceeding US$233 billion (€219 billion), leads the exchange, followed by Siemens and Deutsche Telekom. Other notable companies listed include carmakers such as Mercedes-Benz Group, BMW, and Volkswagen, as well as the sportswear brand Adidas and the industrial giant BASF. “Our expansion into the European market aligns with our strategic objectives to diversify revenue streams and maximize shareholder value. Listing on the Frankfurt Stock Exchange provides enhanced visibility and access to a broader investor base, strengthening our presence in consulting, fintech, AI, robotics, and cybersecurity,” said Dato’ Victor Hoo, Group Executive Chairman and Chief Executive Officer of VCI Global. About VCI Global Limited VCI Global is a diversified holding company. Through its subsidiaries, it focuses on consulting, fintech, AI, robotics, and cybersecurity. Based in Kuala Lumpur, Malaysia, our main operations are centered in Asia, with significant visibility across Asia Pacific, the United States, Europe, and the Middle East. VCIG primarily offers consulting services in capital markets, real estate, AI, and technology. In technology businesses, the company operates a proprietary financing platform that serves companies and individuals, as well as a secured messaging platform serving governments and organizations. We also invest, incubate, accelerate, and commercialize businesses and technologies in AI and robotics. For more information on the Company, please log on to https://v-capital.co/. Cautionary Note Regarding Forward-Looking Statements This press release contains forward-looking statements that are subject to various risks and uncertainties. Such statements include statements regarding the Company’s ability to grow its business and other statements that are not historical facts, including statements which may be accompanied by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company’s ability to achieve profitable operations, customer acceptance of new products, the effects of the spread of Coronavirus (COVID-19) and future measures taken by authorities in the countries wherein the Company has supply chain partners, the demand for the Company’s products and the Company’s customers’ economic condition, the impact of competitive products and pricing, successfully managing and, general economic conditions and other risk factors detailed in the Company’s filings with the United States Securities and Exchange Commission (SEC). The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any responsibility to update the forward-looking statements in this release, except in accordance with applicable law. CONTACT INFORMATION: For media queries, please contact: VCI Global Limitedenquiries@v-capital.co
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VCI Global Limited
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