Company: VCIG
Filing Date: 2025-05-13
Form Type: 20-F
Source: 0001213900-25-042476
Chunk: 164

Company: VCI Global Ltd
Filing Date: 2025-05-13
Form: 20-F
Item: Item 19
Chunk 164
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) and 148,060 ( 2,961,189 prior to 1 to 20 reverse share split) ordinary shares were issued to v...  

  (20)      From January 1, 2024 until December 13, 2024, 1,428 ( 1,398,625 prior to both reverse share splits) and 7111 ( 142,224 prior to 1 to 20 reverse share split) ordinary shares were issued to execu...  

  18      CAPITAL RESERVE  
 ───────────────────────────

This is in relation to merger reserves.

The merger reserve represents effects
of changes in ownership interests in subsidiaries when there is no change in control. Under merger accounting, the assets, liabilities,
revenue, expenses and cash flows of all the entities within the Company are combined after making such adjustments as are necessary to achieve
consistency of accounting policies. This manner of presentation reflects the economic substance of combining companies, which were under
common control throughout the relevant period, as a single economic enterprise.

  19      FAIR VALUE RESERVE  
 ──────────────────────────────

Fair value reserve represents the cumulative fair value changes, net
of tax, of financial assets, FVOCI until it is disposed of and is distributable.

  20      TRANSLATION RESERVE  
 ───────────────────────────────

The translation reserve comprises all
foreign exchange differences arising from the translation of the consolidated financial statements of foreign operations whose functional
currency is different from that of the Company’s presentation currency and is non-distributable.

F-43

  21      REVENUE  
 ───────────────────

                                     December 31,      December 31,      December 31,                  
                                             2022              2023              2024                  
                                               RM                RM                RM                  
 ───────────────────────────────────────────────────────────────────────────────────────────────────────
  Business strategy consultancy         1,793,030        55,373,393        65,079,699      14,557,914  
  Technology development               17,505,200        20,525,915        51,018,808      11,412,582  
  Solutions and consultancy            15,888,427        11,878,760         1,191,755         266,588  
  Interest income                               -         1,897,005         5,430,828