Company: VCIG
Filing Date: 2025-09-25
Form Type: F-3
Source: 0001213900-25-091277
Chunk: 37

Company: VCI Global Ltd
Filing Date: 2025-09-25
Form: F-3
Chunk 37
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 of a transaction on terms that the company is to receive        
 no consideration, or where the value of the consideration for the transaction, in money or money’s worth, is significantly less             
 than the value, in money or money’s worth, of the consideration provided by the company will (if it is an insolvency transaction            
 entered into within the hardening period) be deemed an undervalue transaction. A company does not enter into a transaction at an undervalue 
 if it is entered into in good faith and for the purposes of its business and, at the time the transaction was entered into, there were      
 reasonable grounds for believing the transaction would benefit the company.                                                                 |

| (c) | Voidable Floating Charges:                                                                                                                 
 Under section 247 of the Insolvency Act a floating charge created by a company is voidable if it is an insolvency transaction created      
 within the hardening period. A floating charge is not voidable to the extent that it secures: (i) money advanced or paid to the company,   
 or at its direction, at the same time as, or after, the creation of the charge; (ii) the amount of any liability of the company discharged 
 or reduced at the same time as, or after, the creation of the charge; (iii) the value of assets sold or supplied, or services supplied,    
 to the company at the same time as, or after, the creation of the charge; and (iv) the interest, if any, payable on the amount referred    
 to in (i) to (iii) pursuant to any agreement under which the money was advanced or paid, the liability was discharged or reduced, the      
 assets were sold or supplied or the services were supplied.                                                                                |

| (d) | Extortionate Credit Transactions:                                                                                                       
 Under section 248 of the Insolvency Act an insolvency transaction entered into by a company for, or involving the provision of, credit  
 to the company, may be regarded as an extortionate credit transaction if, having regard to the risk accepted by the person providing    
 the credit, the terms of the transaction are or were such to require grossly exorbitant payments to be made in respect of the provision 
 of the credit, or the transaction otherwise grossly contravenes ordinary principles of fair trading and such transaction takes place    
 within the hardening period.                                                                                                            |

The “hardening period” (known in the
Insolvency Act as the “vulnerability period”) in respect of each void