Company: VCIG
Filing Date: 2025-05-13
Form Type: 20-F
Source: 0001213900-25-042476
Chunk: 58

Company: VCI Global Ltd
Filing Date: 2025-05-13
Form: 20-F
Item: Item 4A
Chunk 58
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 by MYR4,568,651 (USD1,204,739),                                                                   

  (ii)      Technology development, solutions and consultancy  

Net
profit from technology development, solutions and consultancy service increased by MYR1,680,179 (USD433,329) or 16.94% from MYR9,918,688
(USD2,161,264) in 2023 to MYR11,598,867 (USD2,594,593) in 2024 due to the following reasons:

  Revenue from our technology development, solutions, and consultancy                                                                          
  services increased significantly by MYR30,492,893 (USD6,940,023), or approximately 148.56%, from MYR20,525,915 (USD4,472,559) in the fiscal  
  year ended December 31, 2023 to MYR51,018,808 (USD11,412,582) in the fiscal year ended December 31, 2024. This substantial growth was        
  primarily driven by the expansion of the Group’s technological capabilities and the launch of new projects, including generative             
  AI solutions and AI digital human technology.                                                                                                
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  The cost of services increased by                                                                                          

  Gross profit margin decreased by 17%, from 94% in 2023 to 77% in 2024.  
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  The operating expenses from technology                                                                                                 

  (iii)      Interest income  

Net profit from interest income increased
by MYR1,435,678 (USD327,159) or 138.51% from MYR1,036,516 (USD225,855) in 2023 to MYR2,472,194 (USD553,014) in 2024 due to the following
reasons:

  Revenue from interest income                                                                                                              
  increased significantly by MYR3,533,823 (USD801,488), or approximately 186.28%, from MYR1,897,005 (USD413,354) for the fiscal year ended  
  December 31, 2023, to MYR5,430,828 (USD1,214,842) for the fiscal year ended December 31, 2024. This substantial increase was primarily    
  driven by the expansion of our customer loan