Company: VCIG
Filing Date: 2025-05-13
Form Type: 20-F
Source: 0001213900-25-042476
Chunk: 137

Company: VCI Global Ltd
Filing Date: 2025-05-13
Form: 20-F
Item: Item 19
Chunk 137
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sequent expenditure  

Subsequent expenditure relating to property
and equipment that has already been recognized is added to the carrying amount of the asset only when it is probable that future economic
benefits associated with the item will flow to the entity and the cost of the item can be measured reliably. All other repair and maintenance
expenses are recognized in profit or loss when incurred.

  (d)      Disposal  

On disposal of an item of property and
equipment, the difference between the disposal proceeds and its carrying amount is recognized in profit or loss.

F-16

INTANGIBLE ASSETS

Software development costs are recognised
in profit or loss as incurred.

An intangible asset arising from development
is recognised when the following criteria are met:

  it is technically feasible to complete the intangible asset so that it will be available for use or sale;  

  management intends to complete the intangible asset and use or sell it;  

  there is an ability to use or sell the asset;  

  it can be demonstrated how the intangible asset will generate future economic benefits;  

  adequate resources to complete the development and to use or sell the intangible asset are available; and  

  the expenditures attributable to the intangible asset during its development can be reliably measured.  

Other development costs that do not
meet these criteria are recognised in profit or loss as incurred. Development costs previously recognised as an expense are not recognised
as an intangible asset in a subsequent period.

Capitalised development costs are measured at cost less accumulated
amortisation and accumulated impairment losses. The policy for the recognition and measurement of impairment losses is in accordance with
- Impairment of Non-Financial Assets.

Software development costs are amortised
on straight-line basis based on the estimated useful lives ofthreetoten
years.

The useful lives and amortisation methods
are reviewed at the end of each reporting period.

TRADE AND LOAN RECEIVABLES

A receivable is recognised when the
Company has an unconditional right to receive consideration. A right to receive consideration is unconditional if only the passage
of time is required before payment of that consideration is due. If revenue has been recognised before the Company has an unconditional
right to receive consideration, the amount is presented as a contract asset. Trade and loan receivables that do not contain a significant
financing component are initially measured at their transaction price. Trade and loan receivables that contain a significant financing
component and other receivables are initially measured at fair value plus transaction costs