VCI Global Limited Ordinary Share - VCIG STOCK NEWS

VCI Global (NASDAQ: VCIG) announced a joint venture with Cogia AG to establish AiSecure , a new entity focusing on secure messaging technology.

VCIG will own 70%, and Cogia 30% of AiSecure, which will inherit Cogia's military-grade secure messenger platform.

Cogia will integrate AI technology into the platform, enhancing user experience and security.

The joint venture aims to meet NASDAQ listing requirements within 12-18 months by leveraging VCIG's global presence.

Both firms aim to expand the user base across key markets including Malaysia, China, Singapore, the US, and the UK.

VCI Global (NASDAQ: VCIG) announced its secondary listing on the Frankfurt Stock Exchange under the ticker symbol 'H0T.' This move aims to boost VCIG's global presence and attract European investors. The Frankfurt Stock Exchange is Germany's largest and ranks third in Europe, with a market capitalization of US$2.17 trillion. This listing aligns with VCIG's strategy to diversify revenue streams and maximize shareholder value. The company specializes in consulting, fintech, AI, robotics, and cybersecurity, with significant operations across Asia, the US, Europe, and the Middle East.

VCI Global (NASDAQ: VCIG) has announced a significant investment of up to US$30 million in TalkingData Group Holding , a major provider of big data analytics and AI solutions. This investment makes VCIG a substantial shareholder in TalkingData and grants them exclusive rights to TalkingData's AI products and services in Southeast Asia. With this move, VCIG aims to strengthen its position in the fast-growing data analytics sector. TalkingData, valued at US$1.1 billion, is backed by notable investors like CR Capital and Softbank’s SB China Venture Capital. The partnership is expected to help TalkingData expand its presence in Southeast Asia and prepare for a public listing in the US market.

VCI Global (NASDAQ: VCIG) has announced a strategic partnership with Treasure Global Inc to enhance the ZCITY App into an AI-driven Super App. This collaboration aims to integrate secured messaging, digital wallet, and microfinancing features, leveraging VCIG's fintech capabilities and TGL's user base of 3 million. The partnership targets the Southeast Asian market, starting in Malaysia with its 33 million population, enhancing financial inclusion and streamlining digital transactions. VCIG anticipates long-term shareholder value through expanded geographical reach and innovative financial solutions deployment.

VCI Global (NASDAQ: VCIG) announced a strategic partnership with Emerging Hub to advance large-scale Bitcoin mining. In phase one, the collaboration will develop a 35-megawatt Bitcoin mining farm, accommodating 10,000 mining rigs, projected to generate over 2 exahashes per second (EH/s) and yield over 500 Bitcoins in the first year. The project aims to mine over 2,000 Bitcoins over five years, valued at approximately $130 million based on current Bitcoin prices. VCIG will secure a 30% share of mined Bitcoin. Negotiations are underway with government bodies and an energy provider to supply environmentally friendly LNG for sustainable operations.

VCI Global (NASDAQ: VCIG) has announced plans to develop advanced AI computing data centers to meet the growing demands of AI workloads. The first center will be built in Malaysia by Q1 2025, with expansions planned in Europe and the US by the end of 2025. These centers will feature advanced water-cooled H200 GPUs, providing GPU as a service (GPUaaS) for various sectors including government and finance. The global GPUaaS market is projected to grow at a CAGR of 35.8%, reaching US$49.84 billion by 2032. The initiative aims to enhance computational efficiency and support sustainable energy use.

VCI Global has launched 'Socializer', a military-grade secured messaging platform for consumers, previously used by a European government and businesses. Socializer features end-to-end encryption, advanced facial recognition, and a decentralized digital asset wallet, enabling secure communication and digital asset management. The platform offers secure local file storage, document signing, and a backup system. Beta release is set for July 2024 with a full launch in October 2024. Projections indicate significant growth in both messaging security and crypto wallet markets, driven by increasing cyber threats and the adoption of blockchain technology.

VCI Global (NASDAQ: VCIG) reported a stellar financial performance for 2023, with revenues soaring by 145% to $19.8 million. Gross profit surged by 159% to $16.4 million, and net income rose by 57% to $7.2 million. The company's business strategy consultancy revenue increased by 265% to $14.7 million. In its technology development segment, revenue grew by 13% to $4.5 million with a gross profit margin of 94%. Based on these results, VCIG has raised its fiscal 2024 outlook, expecting net sales to increase by approximately 65%, with operating income projected to grow between 20% and 23%.

VCI Global (NASDAQ: VCIG) announced a plan to support Magnum Mining & Exploration (ASX: MGU) by raising at least $210 million for its Green Pig Iron Project in Saudi Arabia. VCI's subsidiary, V Capital Consulting, will manage the funding in collaboration with 2x1.Digital. Magnum will receive $10 million for working capital and $200 million for the HIsmelt plant, matched by the Saudi Investment Development Fund. Investors will get shares in Midmetal and potentially Magnum. If successful, VCI and 2x1.Digital will each gain 10% of Midmetal's shares, with 2x1.Digital also securing a board position at Magnum. The agreement is initially binding for four months, renewable by mutual consent.