Company: VCIG
Filing Date: 2025-05-13
Form Type: 20-F
Source: 0001213900-25-042476
Chunk: 139

Company: VCI Global Ltd
Filing Date: 2025-05-13
Form: 20-F
Item: Item 19
Chunk 139
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 costs) and subsequently carried                                  

  (b)      Borrowing costs directly attributable to the acquisition, construction or production of qualifying                                     
           assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to  
           the cost of those assets, until such time as the assets are substantially ready for their intended use or sale.                        
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All other borrowing costs are recognised
in profit or loss in the period in which they are incurred.

LEASES

When the Company is the lessee

At the inception of the contract, the
Company assesses if the contract contains a lease. A contract contains a lease if the contract conveys the right to control the use of
an identified asset for a period of time in exchange for consideration. Reassessment is only required when the terms and conditions of
the contract are changed.

  Right-of-use assets  

The Company recognizes a right-of-use
asset and lease liability at the date which the underlying asset is available for use. Right-of-use assets are measured at cost which
comprises the initial measurement of lease liabilities adjusted for any lease payments made at or before the commencement date and lease
incentive received. Any initial direct costs that would not have been incurred if the lease had not been obtained are added to the carrying
amount of the right- of-use assets.

The right-of-use asset is subsequently
depreciated using the straight-line method from the commencement date to the earlier of the end of the useful life of the right-of-use
asset or the end of the lease term.

F-18

  Lease liabilities  

The initial measurement of a lease liability
is measured at the present value of the lease payments discounted using the implicit rate in the lease, if the rate can be readily determined.
If that rate cannot be readily determined, the Company shall use its incremental borrowing rate.

Lease payments include the following:

  Fixed payment (including in-substance fixed payments), less any lease incentives receivables;  

  Variable lease payment that are based on an index or rate, initially measured using the index or rate as at the commencement date;  

  Amount expected to be payable under residual value guarantees;  

  The exercise price of a purchase option if is reasonably certain to exercise the option; and  

  Payment of penalties for                                                               

For contracts that contain both lease
and non-lease components, the Company