Welcome to our dedicated page for VCI Global news (Ticker: VCIG), a resource for investors and traders seeking the latest updates and insights on VCI Global stock.
VCI Global Ltd (VCIG) provides strategic consultancy and technology solutions for businesses navigating complex market challenges. This page serves as the definitive source for all official company announcements and news developments.
Access timely updates including earnings reports, partnership agreements, and technology initiatives. Investors and analysts will find essential information on corporate strategies, regulatory developments, and operational milestones that shape VCIG's market presence.
Key updates cover three core areas: business strategy shifts affecting client listings, technology consultancy advancements, and cross-border market expansions. All content is sourced directly from the company to ensure reliability.
Bookmark this page for streamlined tracking of VCIG's progress in advisory services and global market engagements. Verify time-sensitive decisions using our maintained archive of authenticated disclosures.
VCI Global's subsidiary V-Gallant has secured a US$16 million contract to develop an AI digital human-enabled live streaming platform for a Malaysian e-commerce player. The platform will utilize NVIDIA H200 Tensor Core GPUs and integrate with major platforms like Tencent, Meta, TikTok, and Instagram. The client platform currently has nearly 3 million registered users and over 2,000 merchants. The project aims to automate content moderation, personalization, and audience engagement functions. The Southeast Asian e-commerce market is projected to reach US$120 billion in revenue by 2029, with a 10.42% CAGR from 2024-2029.
VCI Global (NASDAQ: VCIG) has successfully facilitated the IPO of Founder Group (FGL) on Nasdaq, generating US$5.2 million in revenue for VCI Global. FGL, a Malaysian solar EPCC company, raised US$4.875 million with a market capitalization exceeding US$65 million. FGL specializes in solar photovoltaic facilities, having delivered over 400 MWp of solar power plants in Malaysia. The company reported annual revenues exceeding US$30 million in FY2023 and plans expansion into Singapore, the Philippines, and Indonesia. VCI Global anticipates completing two more Nasdaq IPOs by next quarter.
VCI Global (NASDAQ: VCIG) has announced the appointment of Victor Lee as its new Executive Director, effective November 1, 2024. Mr. Lee, a seasoned private equity professional with 28 years of experience, will succeed Marco Baccanello. His extensive background includes roles at Franklin Templeton, where he was Managing Director and Partner at Templeton Private Equity Partners. Mr. Lee's expertise spans various asset classes, including private equity, growth capital, and venture capital.
Dato' Victor Hoo, Group Executive Chairman and CEO of VCI Global, expressed confidence that Mr. Lee's strategic insights will be invaluable for the company's future growth initiatives. VCI Global, a diversified holding company, operates in Capital Market Consultancy, Fintech, Real Estate, AI & Robotics, and Cybersecurity sectors, with a presence across Asia-Pacific, the US, Europe, and the Middle East.
VCI Global (NASDAQ: VCIG) has announced that its subsidiary, V-Gallant, is offering end-to-end AI computing solutions to enterprises. These solutions integrate next-generation AI servers equipped with NVIDIA H200 Tensor Core GPUs and AI software such as Large Language Models (LLMs) and automated machine learning platforms. V-Gallant collaborates with leading server manufacturers and solution providers to help organizations leverage advancements in generative AI.
The company aims to capitalize on the rapidly growing AI server and system integrator markets. Market research indicates that the global AI server market is expected to reach US$234.3 billion by 2032, with a CAGR of over 25% from 2024 to 2032. The global system integrator market is projected to grow to US$995.4 billion by 2030, with a CAGR of 12.18% from 2023 to 2030.
VCI Global (NASDAQ: VCIG) has secured an additional US$30 million investment commitment from Alumni Capital LP, following an earlier US$5 million investment. This new commitment, in exchange for VCI Global common shares, will support the company's strategic expansion into AI cloud computing, particularly for planned developments in Q2 2025.
The company retains the right, but is not obligated, to draw on this amount, providing flexibility in accessing funds. With this capital, VCI Global's subsidiary VC AI will launch the AI Computing Center (AICC) in Malaysia, equipped with 512 NVIDIA H200 Tensor Core GPUs. This center is expected to rank among the top 30 globally, enabling efficient processing of vast amounts of data for generative AI and high-performance computing applications.
VCI Global (NASDAQ: VCIG) has announced the termination of its At-The-Market (ATM) equity offering program with H.C. Wainwright & Co., as sales agent. The program, which aimed to offer shares totaling approximately US$4.96 million, was formally terminated on September 25, 2024. As of the termination date, the ATM program had generated total gross proceeds of approximately US$1.77 million.
The company views this termination as an opportunity to explore more favorable financing options that better align with its long-term growth objectives. VCI Global is a diversified holding company headquartered in Kuala Lumpur, Malaysia, operating through five core businesses: Capital Market Consultancy, Fintech, Real Estate, AI & Robotics, and Cybersecurity.
VCI Global (NASDAQ: VCIG) has announced updates on its AI business, capital raising, and share repurchase program. The company has reorganized its AI operations under a new subsidiary, VC AI , with four key segments: GPU servers, GPU cloud computing, AI and large language model (LLM) solutions, and cybersecurity. VCIG plans to launch its proprietary GPU servers in October 2024 and commence AI data center operations in Malaysia by Q2 2025.
The company has successfully secured initial funding for its AI business and is ready to implement its growth strategy. Additionally, VCIG intends to initiate a previously announced share repurchase program in Q1 2025 to enhance shareholder value.
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.
VCI Global (NASDAQ: VCIG) announced that CEO Dato' Victor Hoo has significantly increased his shareholding by 15.27%, now controlling approximately 27.32% of the company's total outstanding shares. This move, along with the recent share buyback program and strong H1 2024 financial performance, underscores VCIG's growth trajectory and positive outlook.
The company reported impressive H1 2024 results, including a 44% year-over-year increase in revenue, 57% rise in gross profit, and 25% growth in net income. These results align with VCIG's full-year guidance of a 65% increase in revenue and 68% rise in gross profit for FY2024, with potential to exceed these targets if current trends continue.
VCI Global (NASDAQ: VCIG) reported strong financial results for H1 2024:
- Revenue grew 44% YoY to $13.7 million
- Gross profit increased 57% YoY to $12.9 million
- Net income rose 25% to $5.4 million
- Business strategy consultancy revenue surged 151% to $11.2 million
- Fintech segment revenue grew 183% to $0.7 million
The company also announced a $10 million share repurchase program over 2 years. VCIG's CEO attributed the performance to strategic initiatives and market positioning. The company aims to leverage its expertise for continued growth and client value delivery.
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