VCI Global Appointed as AdScale’s Exclusive Licensee for AI-Powered Marketing Tools

KUALA LUMPUR, Malaysia, Aug. 21, 2023 (GLOBE NEWSWIRE) -- VCI Global Limited (NASDAQ: VCIG) (“VCI Global”, or the “Company”) today announced it has been appointed as an independent, exclusive licensee of AdScale Ltd’s (“AdScale”) selected products with the objective of promoting these products in an exclusive assigned territory, pursuant to a partnership and licensing agreement between the Company and AdScale. The said territory involves 9 regions, namely, Hong Kong, Indonesia, Malaysia, The Philippines, Singapore, South Korea, Taiwan, Thailand and Vietnam.

This latest venture seamlessly forms part of VCI Global’s continuous dynamic approach to build up its Artificial Intelligence (“AI”) portfolio of products and services to serve these regions. With a combined population of 800 million in these 9 regions, this partnership with AdScale will generate significant earnings for VCI Global from as early as 2024.

With AI being recognised as only one of the few handful of disruptive technologies, through its methodologies and tools like data models and algorithms, marketers can gain valuable customer insights to cut costs, create more content, and provide a more individualised experience for their target audiences. AI thus enables marketers to automatically send timely, personalised communications to customers based on their customised needs and the end results of extensive data collection and analysis of their campaigns and the audiences they aim to reach.

AdScale is a cloud-based, AI-powered performance platform which enables users to fully automate their respective marketing campaigns across not only multiple channels but renowned ones such as Facebook, Instagram, and Google as well as e-mail and SMS marketing. This platform in short assumes the roles played by traditional marketing agencies but in a more efficient manner since no human intervention is required to conduct real time marketing campaigns and perform analytics. To date, over 5,000 brands have revolutionized their respective advertising with AdScale’s AI-powered platform which include internationally renowned swimwear brand, Speedo.

“Firstly, thank you to AdScale for its trust in VCI Global as we are more than happy to share our expertise in the field of AI-enhanced technology. Rest assured this is not the last of our foray in AI-related services as we continue on our aggressive strategy to further fortify our AI-related portfolio. This latest venture will undoubtedly complement our acquisition of LOCUS-T which is already serving over 1,000 clients in this region,” said Dato’ Victor Hoo, Group Executive Chairman and Chief Executive Officer of VCI Global.  

About VCI Global Limited

VCI Global is a multi-disciplinary consulting group with key advisory practices in the areas of business and technology. The Company provides business and boardroom strategy services, investor relation services, and technology consultancy services. Its clients range from small-medium enterprises and government-linked agencies to publicly traded companies across a broad array of industries. VCI Global operates solely in Malaysia, with clients predominantly from Malaysia, but also serves some clients from China, Singapore, and the US.

For more information on the Company, please log on to -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. 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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