Company: VCIG
Filing Date: 2025-05-13
Form Type: 20-F
Source: 0001213900-25-042476
Chunk: 114

Company: VCI Global Ltd
Filing Date: 2025-05-13
Form: 20-F
Item: Item 15
Chunk 114
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 which result...  

In order to cure the foregoing material
weaknesses, we have taken or are taking the following remediation measures:

  We are seeking additional accounting and internal control staff with relevant SEC reporting and internal                                 

  We plan to provide further training to the Company’s finance staff to enhance their understanding                                 

The Company recognizes that the material
weaknesses in its internal control over financial reporting will not be considered remediated until the remediated measures operate for
a sufficient period of time and can be tested and concluded by management to be designed and operating effectively. Because the Company’s
remediation efforts are ongoing, it cannot provide any assurance that these remediation efforts will be successful or that its internal
control over financial reporting will be effective as a result of these efforts.

The Company continues to evaluate and
work to improve its internal control over financial reporting related to the identified material weaknesses, and management may determine
to take additional measures to address control deficiencies or determine to modify the remediation plan described above. In addition,
the Company will report the progress and status of the above remediation efforts to the Audit Committee on a periodic basis.

All internal control systems, no matter
how well designed, have inherent limitations. Even systems determined to be effective can only provide reasonable assurance regarding
financial statement preparation and presentation and may not prevent or detect misstatements. In addition, any evaluation of effectiveness
in future periods is subject to the risk that controls may become inadequate because of changes in future conditions.

Despite that, management believes that
the consolidated financial statements included in this annual report on Form 20-F present fairly the consolidated financial position,
results of operations and cash flows of the Company for the fiscal year covered.

Cha nges
in Internal Control over Financial Reporting

There were
no changes in our internal controls over financial reporting that occurred during the period covered by this annual report on Form 20-F
that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

Item
16. [RESERVED]