Company: VCIG
Filing Date: 2025-05-13
Form Type: 20-F
Source: 0001213900-25-042476
Chunk: 91

Company: VCI Global Ltd
Filing Date: 2025-05-13
Form: 20-F
Item: Item 6
Chunk 91
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 performed by our independent auditor, including the fees and terms of the services to be performed;  

  appointing or replacing the independent auditor;  

  determining the compensation and oversight of the work of the independent auditor (including resolution of disagreements between management and the independent auditor regarding financial repor...  

  establishing procedures for the receipt, retention and treatment of complaints received by us regarding accounting, internal accounting controls or reports which raise material issues regarding...  

  approving reimbursement of expenses incurred by our management team in identifying potential target businesses.  

The audit committee is composed exclusively of
“independent directors” who are “financially literate” as defined under the Nasdaq listing standards. The Nasdaq
listing standards define “financially literate” as being able to read and understand fundamental financial statements, including
a company’s balance sheet, income statement and cash flow statement.

In addition, the Company intends to certify to
Nasdaq that the committee has, and will continue to have, at least one member who has past employment experience in finance or accounting,
requisite professional certification in accounting, or other comparable experience or background that results in the individual’s
financial sophistication.

Compensation Committee

Our compensation committee consist of Alex Chua Siong Kiat, Steve Ng
Mun Huat and Zoe Yong Goon Wey each of whom is an independent director. Each member of our compensation committee is also a non-employee director,
as defined under Rule 16b-3 promulgated under the Exchange Act, and an outside director, as defined pursuant to Section 162(m)
of the Code. Alex Chua Siong Kiat is the chairman of the compensation committee. The compensation committee’s duties, which
are specified in our Compensation Committee Charter, include, but are not limited to:

  reviews, approves and determines, or makes recommendations to our Board regarding, the compensation of our executive officers;  

  administers our equity compensation plans;  

  reviews and approves, or makes recommendations to our Board, regarding incentive compensation and equity compensation plans; and  

  establishes and reviews general policies relating to compensation and benefits of our employees.  

Nominating and Corporate Governance Committee

Our nominating and corporate governance committee
consist of Zoe Yong Goon Wey, Alex Chua Siong Kiat and Steve Ng Mun Huat. Zoe Yong Goon Wey is the Chairman of the nominating and corporate
governance committee. The nominating and corporate governance committee’s duties, which are specified in our