VCI Global Receives a Huge Endorsement From a Large Institutional Investor
KUALA LUMPUR, Malaysia, April 22, 2024 (GLOBE NEWSWIRE) -- VCI Global Limited (NASDAQ: VCIG) (“VCI Global”, “VCIG”, or the “Company”), a diversified holding company specializing in consulting, fintech, AI, robotics, cybersecurity and gamification, is pleased to announce a significant milestone with Legacy Credit Sdn Bhd (“Legacy Credit”), a leading Malaysian financial institutional shareholder, making a substantial investment exceeding 5% stake through a private placement.
Under this shares placement agreement, Legacy Credit will invest $2.5 million in VCIG, effective April 10, 2024.
Legacy Credit, a licensed money lender, specializes in providing flexible financial solutions for both SMEs and individuals. With a focus on reliability and tailored services, Legacy Credit serves as a trusted partner for businesses and individuals seeking financial assistance.
“We are delighted to welcome Legacy Credit as a valued investor. Their confidence in VCIG underscores our reliability and investment potential. Legacy Credit’s investment will boost our business, accelerate our growth trajectory, and drive long-term value for our stakeholders, demonstrating our commitment for further company growth,” said Dato’ Victor Hoo, Group Executive Chairman and Chief Executive Officer of VCI Global.
“We are excited about our investment in VCI Global Limited and see great potential in the company’s diversified portfolio. VCI Global’s commitment to innovation and growth aligns with our vision, and we look forward to contributing to their continued success as a strategic shareholder,” said Mr. Nelson Goh, Director and Chief Executive Officer of Legacy Credit.
About VCI Global Limited
VCI Global is a diversified holding company. Through its subsidiaries, it focuses on consulting, fintech, AI, robotics, cybersecurity, and gamification. 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, robotics, and gamification.
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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.
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