Company: VCIG
Filing Date: 2025-05-13
Form Type: 20-F
Source: 0001213900-25-042476
Chunk: 48

Company: VCI Global Ltd
Filing Date: 2025-05-13
Form: 20-F
Item: Item 4
Chunk 48
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 or revised financial accounting standards
under §107 of the JOBS Act. Our election to use the phase-in periods may make it difficult to compare our financial statements to
those of non-emerging growth companies and other emerging growth companies that have opted out of the phase-in periods under §107
of the JOBS Act.

Certain of these reduced reporting requirements
and exemptions were already available to us due to the fact that we also qualify as a “smaller reporting company” under SEC
rules. For instance, smaller reporting companies are not required to obtain an auditor attestation and report regarding internal control
over financial reporting, are not required to provide a compensation discussion and analysis, are not required to provide a pay-for-performance
graph or CEO pay ratio disclosure and may present only two years of audited financial statements and related MD& A disclosure.

Under the JOBS Act, we may take advantage of the
above-described reduced reporting requirements and exemptions for up to five years after our initial sale of common equity pursuant to
a registration statement declared effective under the Securities Act, or such earlier time that we no longer meet the definition of an
emerging growth company. The JOBS Act provides that we would cease to be an “emerging growth company” if we have more than$1.235 billionin annual revenue, have more than $700 million in market value of our ordinary
shares held by non-affiliates, or issue more than$1 billionin principal amount of non-convertible
debt over a three-year period. Further, under current SEC rules, we will continue to qualify as a “smaller reporting company”
for so long as we have a public float (i. e., the market value of common equity held by non-affiliates) of less than$250
millionas of the last business day of our most recently completed second fiscal quarter.

Foreign Private Issuer Status

We are a “foreign private issuer,”
as defined in Rule 405 under the Securities Act and Rule 3b-4I under the Exchange Act. As a result, we are not subject to the same requirements
as U. S. domestic issuers. Under the Exchange Act, we will be subject to reporting obligations that, to some extent, are more lenient and
less frequent than those of U. S. domestic reporting companies. For example:

  we are not required to and, in reliance on home country practice, we do not intend to, comply with certain Nasdaq rules regarding shareholder approval for certain