Company: VCIG
Filing Date: 2025-05-13
Form Type: 20-F
Source: 0001213900-25-042476
Chunk: 52

Company: VCI Global Ltd
Filing Date: 2025-05-13
Form: 20-F
Item: Item 4A
Chunk 52
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31, 2023 to MYR51,018,808 (USD11,412,582) in the fiscal year ended December 31, 2024. This substantial
growth was primarily driven by the expansion of the Group’s technological capabilities and the launch of new projects, including
generative AI solutions and AI digital human technology.

Revenue from Interest Income

Revenue from interest income
increased significantly by MYR3,533,823 (USD801,488), or approximately 186.28%, from MYR1,897,005 (USD413,354) for the fiscal year ended
December 31, 2023, to MYR5,430,828 (USD1,214,842) for the fiscal year ended December 31, 2024. This substantial increase was primarily
driven by the expansion of our customer loan base compared to the prior financial year.

Revenue from Other Services

Other revenues consist primarily of loan processing fees, management
fees, and training fees. For the fiscal year ended December 31, 2024, other revenues amounted to MYR1,667,301 (USD372,965), representing
an increase of 48.46% or MYR544,230 (USD128,250) compared to MYR1,123,071 (USD244,715) in the prior year. The increase was mainly attributable
to higher loan processing fees generated from the Group’s microfinancing activities during fiscal year 2024.

Other Income

Our sources for other income for fiscal years
2024 and 2023 were as follows:

                                                  For the fiscal years ended December 31                                                                                  
                                                  2024                                                                                                                    
                                                  Amount                                                                                                                  
                                                  MYR                                                                                                                     
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Other income:                                                                                                                                                           
  Interest income                                                                                18,507        4,140        1.71      7,323          11,184       152.72  
  Wage Subsidy                                                                                                                        -                   -            -  
  Gain on foreign currency                                                                      931,340      208,335       86.24      -             931,340       100.00  
  Other income – IPO Conference                                                                       -            -           -      502,949      (502,949      (100.00  
  Reimbursement income for expenses incurred                                                     18,730        4,