Company: VCIG
Filing Date: 2025-08-13
Form Type: 424B5
Source: 0001213900-25-075843
Chunk: 19

Company: VCI Global Ltd
Filing Date: 2025-08-13
Form: 424B5
Chunk 19
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 Alumni may sell their shares under this offering.

The conversion price of the Notes and the exercise price of the Warrants may be adjusted, which could increase the number of ordinary shares issuable and further dilute existing shareholders.

The Notes and Warrants contain price adjustment
provisions based on the market price of our common shares, future financings, and/or other events. If these adjustments are triggered,
the number of ordinary shares issuable upon conversion or exercise could increase substantially, resulting in further dilution to our
existing shareholders and potentially exerting additional downward pressure on our share price.

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We may be or become a passive foreign investment company, which could result in adverse U.S. federal income tax consequences to U.S. Holders.

The rules governing passive
foreign investment companies (“PFICs”) can have adverse effects for U.S. federal income tax purposes. The tests for determining
PFIC status for a taxable year depend upon the relative values of certain categories of assets and the relative amounts of certain kinds
of income. The determination of whether we are a PFIC, which must be made annually after the close of each taxable year, depends on the
particular facts and circumstances (such as the valuation of our assets, including goodwill and other intangible assets) and may also
be affected by the application of the PFIC rules, which are subject to differing interpretations. The fair market value of our assets
is expected to relate, in part, to (a) the market price of our ordinary shares and (b) the composition of our income and assets, which
will be affected by how, and how quickly, we spend any cash that is raised in any financing transaction. Moreover, our ability to earn
specific types of income that we currently treat as non-passive for purposes of the PFIC rules is uncertain with respect to future years.
Because the value of our assets for the purpose of determining PFIC status will depend in part on the market price of our ordinary shares,
which may fluctuate significantly. We do not expect to be a PFIC for our current taxable year or in the foreseeable future. However, there
can be no assurance that we will not be considered a PFIC for any taxable year.

If we are a PFIC, a U.S.
Holder (as defined below) would be subject to adverse U.S. federal income tax consequences, such as ineligibility for any preferred tax
rates on capital gains or on actual or deemed dividends, interest