Company: VCIG
Filing Date: 2025-05-13
Form Type: 20-F
Source: 0001213900-25-042476
Chunk: 159

Company: VCI Global Ltd
Filing Date: 2025-05-13
Form: 20-F
Item: Item 19
Chunk 159
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 end of the reporting date are as follows:

                            December 31,                     December 31,               
                            RM                               RM                         
  United States dollar                        1,416,836                        869,929  

  14      LEASE LIABILITIES  
 ─────────────────────────────

The Company has lease contracts for
office premises and motor vehicles. The Company’s obligations under these leases are secured by the lessor’s title to the
leased assets. The Company is restricted from assigning and subleasing the leased assets.

The Company also has certain leases
with lease terms of12months or less. The Company applies the ’short-term lease’ recognition exemptions for these leases.

Carrying amount of lease liabilities is as follows:

                                          RM                                    RM                                          
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
                                          December 31, 2023                     December 31,                                
  At beginning of the year                                         744,959                        1,255,340        280,811  
  Additions                                                        886,093                                -              -  
  Finance cost                                                      30,288                           30,413          6,803  
  Payment                                                        ( 406,000                        ( 749,373      ( 167,630  
  At end of the year                                             1,255,340                          536,380        119,984  
  Lease liabilities:                                                                                                        
  - Not later than one year                                        710,367                          368,501         82,431  
  - More than one year to five years                               544,973                          167,879         37,553  
                                                                 1,255,340                          536,380        119,984  

Details of the carrying amounts of right-of-use
assets recognized and the movements during the financial year are disclosed in Note 7 to the financial statements.

The lease liabilities at the end of
the reporting period bear weighted average incremental borrowing rate of4.31% (2023: 4.31%) per annum.

Amount recognized in profit or loss as is follows:

                                                           RM                             RM                                        
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
                                                           December 31,                   December 31,                              
  Depreciation of right-of-use asset                                         424,837                          664,498      148,644  
  Interest expense on lease liabilities                                       30,288                           30,413