Company: VCIG
Filing Date: 2025-05-13
Form Type: 20-F
Source: 0001213900-25-042476
Chunk: 61

Company: VCI Global Ltd
Filing Date: 2025-05-13
Form: 20-F
Item: Item 4A
Chunk 61
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services increased significantly by MYR49,570,696 (USD10,637,889), or approximately 280.35%, from MYR17,681,457 (USD4,016,231) in the
fiscal year ended December 31, 2022 to MYR67,252,153 (USD14,654,120) in the fiscal year ended December 31, 2023. The significant increase
was due to the completion or near completion of multiple IPO projects by the end of December 31, 2023.

Revenue from Technology Development, Solutions,
and Consultancy Services

Our technology development, solutions and consultancy
service revenue increase by approximately 17.26% from MYR17,505,200 (USD3,976,196) for the fiscal year ended December 31, 2022 to MYR20,525,915
(USD4,472,559) for the fiscal year ended December 31, 2023. The increase was due to the completion of two major projects which are fintech
solutions and e-commerce platforms.

Revenue from Interest Income

During the fiscal year ended December 31, 2023,
we have recognized a total of MYR1,897,005 (USD413,354) interest income from our microfinancing activities. This is our new source of
income in 2023.

Revenue from Other Services

Other revenues consist of loan processing fees,
management fees, training fees and marketing consultancy fees. In the fiscal year ended December 31, 2023 and 2022, other revenues was
MYR1,123,071 (USD244,715) and MYR383,225 (USD87,047) respectively. It has increased by 193.06% or MYR739,846 (USD157,668) due to the newly
introduced loan processing fees from our microfinancing activities in 2023, increased in our marketing consultancy projects and training
activities.

Other Income

Our sources for other income for fiscal years
2023 and 2022 were as follows:

                                                         For the fiscal years ended December 31                                                                                      
                                                         2023                                                                                                                        
                                                         Amount                                                                                                                      
                                                         MYR                                                                                                                         
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Other income:                                                                                                                                                                      
  Interest income                                                                                    7,323        1,596               49        0.00