Company: VCIG
Filing Date: 2025-05-13
Form Type: 20-F
Source: 0001213900-25-042476
Chunk: 146

Company: VCI Global Ltd
Filing Date: 2025-05-13
Form: 20-F
Item: Item 19
Chunk 146
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financial assets (other than equity investments), contract assets and financial liabilities. However, in the consolidated financial statements,
currency translation differences arising from net investment in foreign operations, are recognized in other comprehensive income and accumulated
in the currency translation reserve.

When a foreign operation is disposed of
or any loan forming part of the net investment of the foreign operation is repaid, a proportionate share of the accumulated currency translation
differences is reclassified to profit or loss, as part of the gain or loss on disposal.

Non-monetary items measured at fair values
in foreign currencies are translated using the exchange rates at the date when the fair values are determined.

  (c)      Translation of Group entities’ financial statements  

The results and financial position of
all the entities (none of which has the currency of a hyperinflationary economy) that have a functional currency different from the presentation
currency are translated into the presentation currency as follows:

  (i)      assets and liabilities are translated at the closing exchange rates at the reporting date;  
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  (ii)      income and expenses are translated at average exchange rates (unless the average is not a reasonable approximation of the cumulative effect of the rates prevailing on the transaction dates, in ...  

  (iii)      all resulting currency translation differences are recognized in other comprehensive income and accumulated in the currency translation reserve. These currency translation differences are recla...  

Goodwill and fair value adjustments arising
on the acquisition of foreign operations are treated as assets and liabilities of the foreign operations and translated at the closing
rates at the reporting date.

RELATED PARTIES

  (a)      A person, or a close member                                         

  (i)        has control or joint control over the Company;                
  (ii)       has significant influence over the Company; or                
  (iii)      is a member of the key                                        

F-24

  (b)      An entity is related to                                  

  (i)         The entity and the group                                                                                                                                              
  (ii)        One entity is an associate                                                                                                                                            
  (iii)       Both entities are joint ventures of the same third party.                                                                                                             
  (iv)        One entity is a joint venture of a third entity and the other entity is an associate of the third entity.                                                             
  (v)         The entity is a post-employment                                                                                                                                       
  (vi)        The entity is controlled or jointly controlled