Company: VCIG
Filing Date: 2025-05-13
Form Type: 20-F
Source: 0001213900-25-042476
Chunk: 68

Company: VCI Global Ltd
Filing Date: 2025-05-13
Form: 20-F
Item: Item 4A
Chunk 68
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 increased by MYR24,351,736 (USD5,239,785),                                                                   

  (v)      Technology development, solutions and consultancy  

Net profit from technology development,
solutions and consultancy service increased by MYR1,467,964 (USD241,735) or 8% from MYR8,450,724 (USD1,919,529) in 2022 to MYR9,918,688
(USD2,161,264) in 2023 due to the following reasons:

  The revenue increased by MYR3,020,715 (USD496,364), or approximately 17.26%                                                           
  in year 2023 compared to year 2022 due to the completion of two major projects which are fintech solutions and e-commerce platforms.  
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  The cost of services decreased by MYR370,679 (USD96,185), or approximately  

  Gross profit margin increased by 4%, from 90% in 2022 to 94% in 2023.  
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  The operating expenses from technology development, solutions and consultancy                                                           

  (vi)      Interest income  

Net profit from interest income was
MYR1,036,516 (USD225,855) in 2023 due to the following reasons:

  Revenue amounted to MYR1,897,005 (USD413,354) in 2023. This was our new source  

  The operating expenses were MYR1,036,516 (USD225,855) mainly due to (i)                    

  (iv)      Others  

Net profit from others decreased by
MYR409,280 (USD96,065) or 8% from MYR744,483 (USD169,104) in 2022 to MYR336,202 (USD73,040) in 2023 due to the following reasons:

  The revenue increased by MYR739,846 (USD157,668), or approximately 193.06%                                    
  in year 2023 compared to year 2022 due to additional marketing consultancy projects and training activities.  
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  The cost of services increased significantly by MYR245,842 (USD53,267),             

  Gross profit margin significantly