Company: VCIG
Filing Date: 2025-05-13
Form Type: 20-F
Source: 0001213900-25-042476
Chunk: 9

Company: VCI Global Ltd
Filing Date: 2025-05-13
Form: 20-F
Item: Item 3
Chunk 9
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We will be a foreign private issuer and,
as a result, we will not be subject to U. S. proxy rules and will be subject to Exchange Act reporting obligations that, to some extent,
are more lenient and less detailed than those of a U. S. issuer.

We report under the Exchange Act, as a foreign
private issuer. Because we qualify as a foreign private issuer under the Exchange Act, we will be exempt from certain provisions of the
Exchange Act that are applicable to U. S. public companies, including: the sections of the Exchange Act regulating the solicitation of
proxies, consents or authorizations in respect of a security registered under the Exchange Act; the sections of the Exchange Act requiring
insiders to file public reports of their share ownership and trading activities and liability for insiders who profit from trades made
in a short period of time; and the rules under the Exchange Act requiring the filing with the SEC of quarterly reports on Form 10-Q containing
unaudited financial and other specified information, or current reports on Form 8-K, upon the occurrence of specified significant events.
In addition, we will not be required to provide as detailed disclosure as a U. S. registrant, particularly in the area of executive compensation.
It is possible that some investors may not be as interested in investing in our ordinary shares as the securities of a U. S. registrant
that is required to provide more frequent and detailed disclosure in certain areas, which could adversely affect our share price.

As a foreign private issuer and as permitted
by the listing requirements of Nasdaq, we may follow certain BVI corporate governance rules instead of certain corporate governance requirements
of Nasdaq.

As a foreign private issuer, we may follow certain
of our home country corporate governance rules instead of certain corporate governance requirements of Nasdaq. For example, we are exempt
from Nasdaq regulations that require a listed U. S. company to:

  have a majority of the board of directors consist of independent directors as such term is defined by Nasdaq;  

  have nominating and compensations committees that are fully independent, as defined by Nasdaq;  

  provide                                                                          

  solicit proxies and provide proxy statements for all shareholder meetings;  

  seek shareholder approval for the implementation of certain  

  hold an annual meeting of shareholders no later than one   

To the extent we determine to follow BVI corporate
governance practices instead of Nasdaq governance requirements applicable to domestic issuers, you may not have the same protections afforded