VCI Global Secures Approximately US$18 Million Contract for IPO Deals

Rhea-AI Summary

VCI Global (NASDAQ: VCIG) has secured a major contract with Legacy Corporate Advisory Sdn Bhd, valued at approximately US$18 million. The deal aims to bring four Malaysian-based companies to the Nasdaq stock exchange, spanning diverse industries including telecommunications, waste management, healthcare and beauty, and leisure. These companies are:

1. Neutral Transmission Malaysia Sdn Bhd (telecommunications infrastructure)
2. I Bella Sdn Bhd (aesthetic treatments and wellness)
3. AE Carbon Capital (waste management and green technology)
4. Autoplay Group Sdn Bhd (go-kart racing and event management)

This contract enhances VCIG's IPO solutions pipeline to 10 active deals. The anticipated revenue from these four new Nasdaq listings is projected to be approximately US$18 million over the next 14 months, reinforcing VCI Global's strong market position in capital market consultancy.

Positive

• Secured a major contract worth approximately US$18 million
• Expanded IPO solutions pipeline to 10 active deals
• Projected revenue of US$18 million over the next 14 months from the new contract
• Diversification of client base across multiple industries

Negative

• None.

KUALA LUMPUR, Malaysia, Sept. 03, 2024 (GLOBE NEWSWIRE) -- VCI Global Limited (NASDAQ: VCIG) (Frankfurt: H0T) (“VCI Global,” “VCIG,” or the “Company”) is pleased to announce that it has secured a major contract with Legacy Corporate Advisory Sdn Bhd (“Legacy”), a premier consulting firm based in Malaysia. Valued at approximately US$18 million, this significant deal is set to bring four high-potential Malaysian-based companies across diverse industries, including telecommunications, waste management, healthcare and beauty, and leisure to the Nasdaq stock exchange.

The companies set to debut on the Nasdaq stock exchange through this groundbreaking deal include:

• Neutral Transmission Malaysia Sdn Bhd – Specializes in developing and leasing of telecommunications infrastructure, with a focus on fiber optic networks for retail service operators.
• I Bella Sdn Bhd – Provides a comprehensive range of services, including aesthetic treatments, general medical services, skincare products, and beauty and wellness solutions.
  
• AE Carbon Capital Ltd – Specializes in waste management and resource recovery, green building practices, energy efficiency, project management and advisory services, and green technology solutions.
• Autoplay Group Sdn Bhd – Operates and manages go-kart racing facilities, event management services, cafeteria operations, and provides film production and advertising services.
  

This major contract not only enhances VCIG’s impressive IPO solutions pipeline, now comprising 10 active deals, but also reinforces the Company’s strong market position. The anticipated revenue from these four new Nasdaq listings is projected to be approximately US$18 million over the next 14 months.

“Securing this deal with Legacy is a testament to VCI Global’s strength and industry leadership. This contract not only broadens our portfolio but also underscores our capability to deliver high-impact results for our clients. We look forward to supporting these innovative Malaysian-based companies as they make their mark on the Nasdaq,” said Dato’ Victor Hoo, Group Executive Chairman and Chief Executive Officer of VCI Global.

About VCI Global Limited

VCI Global is a diversified holding company headquartered in Kuala Lumpur, Malaysia. The Company operates through six core businesses: Capital Market Consultancy, Fintech, Real Estate, Data Center, AI & Robotics, and Cybersecurity. In Capital Market Consultancy, we provide IPO solutions, investor relations (IR) and public relations (PR) consultancy, and M&A consultancy. Our Fintech arm offers a proprietary financing platform. In Real Estate, we offer specialized real estate consultancy services. The Data Center delivers GPU cloud computing services, while the AI & Robotics segment focuses on AI-driven large language models (LLMs) and post-harvest robotics systems. Our Cybersecurity segment provides comprehensive cybersecurity consultancy services and solutions. Committed to fostering innovation and delivering exceptional value, VCI Global has established a strong presence across the Asia-Pacific region, the United States, Europe, and the Middle East, driving growth and transformation on a global scale.

For more information on the Company, please log on to https://v-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. These forward-looking statements are based only on our current beliefs, expectations, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict and many of which are outside of our control. Therefore, you should not rely on any of these forward-looking statements. 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.

CONTACT INFORMATION:

For media queries, please contact:

VCI Global Limited
enquiries@v-capital.co

FAQ

What is the value of the contract VCI Global (VCIG) secured with Legacy Corporate Advisory?

VCI Global (VCIG) secured a contract with Legacy Corporate Advisory valued at approximately US$18 million.

How many companies will VCI Global (VCIG) bring to the Nasdaq stock exchange through this contract?

VCI Global (VCIG) will bring four Malaysian-based companies to the Nasdaq stock exchange through this contract.

What industries do the companies in VCI Global's (VCIG) new contract represent?

The companies represent diverse industries including telecommunications, waste management, healthcare and beauty, and leisure.

What is the projected revenue for VCI Global (VCIG) from the new Nasdaq listings?

The projected revenue for VCI Global (VCIG) from the four new Nasdaq listings is approximately US$18 million over the next 14 months.

How many active IPO deals does VCI Global (VCIG) now have in its pipeline?

VCI Global (VCIG) now has 10 active deals in its IPO solutions pipeline.