VCI Global Limited Ordinary Share - VCIG STOCK NEWS

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.

VCI Global, a diversified holding company, reported outstanding financial results for fiscal year 2023 with a revenue growth of 145% YoY, reaching $19.8 million. The significant achievements in business strategy consultancy and technology segments led to an increase in revenue. Gross profit and net income also rose by 159% and 57%, respectively. The company showcased sustainable growth in various sectors, emphasizing its commitment to excellence and value creation for shareholders.

VCI Global (NASDAQ: VCIG) has announced an investor conference call scheduled for April 30th, 2024, to share company growth with investors. Dato’ Victor Hoo, Group Executive Chairman and CEO, expressed excitement about the progress made over the last year.

VCI Global facilitated YY Group Holding ’s successful IPO on the Nasdaq Capital Market, marking a key milestone in its growth plan. YYGH is a data and technology-driven company specializing in enterprise intelligent labor matching services and smart cleaning solutions. With fast-growing revenues exceeding $20m in FY2022 and regional expansion, YYGH is set for rapid growth across Asia with VCI Global's guidance.

VCI Global (NASDAQ: VCIG) has secured a significant investment from Legacy Credit Sdn Bhd, a major Malaysian financial institution, exceeding a 5% stake worth $2.5 million. Legacy Credit's investment aims to enhance VCIG's business growth and value for stakeholders.