Company: VCIG
Filing Date: 2025-05-13
Form Type: 20-F
Source: 0001213900-25-042476
Chunk: 167

Company: VCI Global Ltd
Filing Date: 2025-05-13
Form: 20-F
Item: Item 19
Chunk 167
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619,698                             484,662          108,416  

As at December 31, 2024, the Company had unutilised tax losses carried
forward of RM7.3million (2023: RM22.0million) for which no deferred tax asset has been recognised. These losses relate to subsidiaries
that have been loss-making for several years, and no convincing evidence is currently available that taxable profit will be available
against which the tax losses can be utilised.

The tax losses can be carried
forward for 7 years, as applicable under Malaysia law. The potential deferred tax asset not recognised amounts to RM1.7million
(2023: RM5.3million), calculated at the applicable tax rate of24%.

Management will continue to review the future profitability of the
entities concerned to assess whether the recognition criteria for deferred tax assets are met.

  28      OPERATING LEASE  
 ───────────────────────────

                         December 31,                   December 31,                   December 31,                        
                         2022                           2023                           2024                                
                         RM                             RM                             RM                             US$  
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Short-term leases                        257,243                        232,081                        449,408           

The Company has elected not to recognise right-of-use assets and lease
liabilities for certain short-term leases that have lease terms of 12 months or less. Lease payments relating to these leases are expensed
to profit or loss on a straight-line basis over the lease term.

F-47

  29      SIGNIFICANT RELATED PARTY TRANSACTIONS  
 ──────────────────────────────────────────────────

Related companies in these financial
statements refer to members of the ultimate holding company’s group of companies.

Some of the Company’s transactions
and arrangements are between members of the Company and the effect of these on the basis determined between the parties is reflected in
these financial statements. The intercompany balances are unsecured, interest-free and repayable on demand, unless otherwise stated.

                                                          December 31,                     December 31,                     December 31,                              
                                                          2022                             2023                             2024                                      
                                                          RM                               RM                               RM                                        
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Balance with related parties (common shareholders)                                                                                                                  
  Trade receivables