Company: VCIG
Filing Date: 2025-05-13
Form Type: 20-F
Source: 0001213900-25-042476
Chunk: 131

Company: VCI Global Ltd
Filing Date: 2025-05-13
Form: 20-F
Item: Item 19
Chunk 131
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 measurements
are observable and the significance of the inputs to the fair value measurement in its entirety, which are described as follows:

  Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can access at the measurement date;  

  Level 2 inputs are inputs, other than quoted prices included within Level 1, that are observable for the asset or liability, either directly or indirectly; and  

  Level 3 inputs are unobservable inputs for the asset or liability.  

F-11

BASIS OF CONSOLIDATION

  (a)      Consolidation  

As the Company were under same control
of the controlling shareholders and their entire equity interests were also ultimately held by the controlling shareholders immediately
prior to the group reorganization, the consolidated statements of profit or loss and other comprehensive income, consolidated statements
of changes in equity and consolidated statements of cash flows statements are prepared as if the current group structure had been in existence
throughout the three-year period ended December 31, 2024, or since the respective dates of incorporation/establishment of the relevant
entity, where this is a shorter period. The consolidated statements of financial position as at December 31, 2023 and 2024 present the
assets and liabilities of the aforementioned companies now comprising the Company which had been incorporated/established as at the relevant
balance sheet date as if the current group structure had been in existence at those dates based on the same control aforementioned. The
Company eliminates all significant intercompany balances and transactions in its consolidated financial statements.

Subsidiary corporations are all entities
(including structured entities) over which the Company has control. The Company controls an entity when the Company is exposed to, or
has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over
the entity. Subsidiary corporations are fully consolidated from the date on which control is transferred to the Company. They are deconsolidated
from the date that control ceases.

In preparing the consolidated financial
statements, transactions, balances and unrealized gains on transactions between group entities are eliminated. Unrealized losses are also
eliminated unless the transaction provides evidence of an impairment indicator of the transferred asset. Accounting policies of subsidiary
corporations have been changed where necessary to ensure consistency with the policies adopted by the Company.

Non-controlling interests comprise the
portion of a subsidiary corporation’s net results of operations and its net assets, which