VCI Global Secures Its First IPO Consultancy Deal in 2024 With a Singapore-Based Fin-MedTech Medical Group

KUALA LUMPUR, Malaysia, Jan. 23, 2024 (GLOBE NEWSWIRE) -- VCI Global Limited (NASDAQ: VCIG) (“VCI Global”, or the “Company”) has been engaged by a Singapore-based Fin-MedTech Medical Group (the “Medical Group”) as its initial public offering (“IPO”) consultant for its intended IPO on Nasdaq which is expected to be completed in 2024/2025.

The Medical Group offers personalised, predictive and preventive medicine through a digital wallet and digital twin, all within its proprietary Fin-MedTech single platform. This is done by integrating its expertise of financial, medical and digital transformation technologies. Its mission is to empower behavioural revolution through data-driven innovations.

Under this engagement, VCI Global will provide consultancy services in equity structure and capital market strategy, facilitate engagements of external professionals namely underwriter, auditor and lawyer; assists in regulatory approval and provide recommendations in compliance and internal control matters.

VCI Global will receive payment in shares throughout the engagement exercise. Subsequently, the estimated income, to be derived from this consultancy service, is in the range of USD4 million to USD8 million, pending the IPO valuation.

“We are honoured that our reputation as an IPO consultant is fast gaining recognition within global business communities where we have been engaged by companies from different countries. With the Medical Group being the latest to engage our services, we are more than happy to share our experience with them, enabling them to have a successful IPO exercise,” said Dato’ Victor Hoo, Group Executive Chairman and Chief Executive Officer of VCI Global.

About VCI Global Limited

VCI Global Limited has established itself as a world-class multi-disciplinary consultancy group in the areas of business, technology, and marketing consultancy. Our dedicated team of consultants possesses extensive expertise in capital markets, investor/public relations, marketing, real estate, and technology consultancy, ensuring the fulfilment and surpassing of clients' requirements and objectives. Our commitment to excellence ensures that our valued clients receive not only expert advice, but a comprehensive partnership aimed at achieving their business goals and staying ahead in today's competitive business environment.

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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, the completion of the offering, the satisfaction of customary closing conditions related to the offering, the intended use of proceeds from the offering, 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, market and other conditions, 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 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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