Company: VCIG
Filing Date: 2025-05-13
Form Type: 20-F
Source: 0001213900-25-042476
Chunk: 133

Company: VCI Global Ltd
Filing Date: 2025-05-13
Form: 20-F
Item: Item 19
Chunk 133
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ognized. Amounts previously recognized in other comprehensive income in respect of that entity
are also reclassified to profit or loss or transferred directly to retained earnings if required by a specific standard.

Any retained equity interest in the entity is remeasured at fair value.
The difference between the carrying amount of the retained interest at the date when control is lost, and its fair value is recognized
in profit or loss or other comprehensive income.

  (d)      Transactions with non-controlling interests  

Changes in the Company’s ownership
interest in a subsidiary corporation that do not result in a loss of control over the subsidiary corporation are accounted for as transactions
with equity owners of the Company. Any difference between the change in the carrying amounts of the non-controlling interest and the fair
value of the consideration paid or received is recognized within equity attributable to the equity holders of the Company.

CONVENIENCE TRANSLATION

Translations of amounts in the consolidated statement of financial
position, consolidated statements of profit or loss and other comprehensive income, and consolidated statement of cash flows from Ringgit
Malaysia (“ RM”) into United States Dollar (“ US$”) as of and for the year ended December 31, 2024 are solely for
the convenience of the reader and were calculated at the noon buying rate of US$1= RM4.4704, as published in H.10 statistical release
of the United States Federal Reserve Board. No representation is made that the RM amounts could have been, or could be, converted, realized
or settled into US$ at such rate or at any other rate.

F-13

FINANCIAL ASSETS

  (a)      Classification and measurement  
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The Company classifies its financial assets
at fair value through other comprehensive income, fair value through profit and loss and amortized cost.

The classification depends on the Company’s
business model for managing the financial assets as well as the contractual terms of the cash flows of the financial assets.

Financial assets at fair value through
other comprehensive income (“ FVOCI”) are equity securities which are not held for trading but more for strategic investments
or debt securities where contractual cash flows are solely principal and interest and the objective of the Company’s business model
is achieved both by collecting contractual cash flow and selling financial assets.

On initial recognition, the Company may
make an irrevocable election (on an instrument-by-instrument basis) to designate investments in equity instruments as at FVOCI. Designation
at