Company: VCIG
Filing Date: 2025-05-13
Form Type: 20-F
Source: 0001213900-25-042476
Chunk: 160

Company: VCI Global Ltd
Filing Date: 2025-05-13
Form: 20-F
Item: Item 19
Chunk 160
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 at 3.50% (2023: 3.50%) per annum and repayable over 60 months in equal monthly instalments (principal and  
                interest) of RM 6,136. The maturity date is October 2026.                                                                                
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The bank borrowings
of the Company are secured against:

  Guarantee in favour of the lender by Credit Guarantee Corporation (“ CGC”)  

  Corporate guarantee in favour of the lender by a company which Khoo  

  Assignment of single premium reducing term plan issued by Sun Life                                                                                           

  Jointly and severally guaranteed in favour of the lender by Khoo Ter  

  (B)      Other borrowings  

This relates to redeemable preference
shares issued by a subsidiary. The redeemable preference shares are liability in nature as the subsidiary has to redeem the shares at
a particular date by paying agreed amount to the holder of the shares. Non-discretionary dividends paid on redeemable preference shares
is recorded as expenses in income statement as any return paid towards liabilities is treated as an interest expense in the income statement.

The redeemable preference shares have
a face value of RM 600,000 representing600,000shares at RM1.00each. It is redeemable at a fair value of RM600,000.

  16      WARRANT LIABILITIES  
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As of December 31, 2024, the Company had issued
three types of warrants that are classified as financial liabilities in accordance with IFRS 9 - Financial Instruments and IAS 32
 - Financial Instruments: Presentation.

F-39

Pursuant to an advisory agreement entered with
Exchange Listing, LLC, a Nevada limited liability company, the Company issued a total of250,000warrants on March 26, 2023, exercisable
at US$4.00per share.

On January 17, 2024, the Company issued an aggregate of2,200,000ordinary
shares, together with Series A Warrants and Series B Warrants, each to purchase up to2,200,000ordinary shares. The Series A Warrants
have a term of five years and are exercisable at US$1.25per share, while the Series B Warrants have a term of 18 months, also exercisable
at US$1.25per share.

Management assessed the classification of these