Company: VCIG
Filing Date: 2025-05-13
Form Type: 20-F
Source: 0001213900-25-042476
Chunk: 65

Company: VCI Global Ltd
Filing Date: 2025-05-13
Form: 20-F
Item: Item 4A
Chunk 65
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.07% due to the increased in  
           the number of Directors employed and also an increase in their responsibilities and duties toward the group after the IPO exercise in   
           2023.                                                                                                                                   
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  (9)      Impairment allowance on trade receivables increased significantly by MYR686,771                                                           
           (USD146,480) or approximately 200.56%, from MYR342,427 (USD77,780) in fiscal year 2022 to MYR1,029,198 (USD224,260) in fiscal year 2023.  
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  (10)      Rental expenses in fiscal year 2023 were consistent with fiscal year 2022   
            which were MYR232,081 (USD50,570) and MYR257,243 (USD58,431) respectively.  
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  (11)      Legal and professional fees were MYR6,364,322 (USD1,386,774) in fiscal year                                                             
            2023, a significant increase of MYR6,183,094 (USD1,345,609) as compared with MYR181,228 (USD41,165) in fiscal year 2022, primarily due  
            to the significant increase in regulatory compliance requirements. We are required to comply with the Securities Exchange Act of 1934,  
            Sarbanes-Oxley Act and the Dodd-Frank Act, as well as rules and regulations implemented by the Securities and Exchange Commission and   
            Nasdaq after our IPO exercise in 2023.                                                                                                  
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  (12)      Finance cost increased by MYR41,483 (USD8,567) from MYR51,104 (USD11,608) in                                                              
            fiscal year 2022 to MYR92,587 (USD20,175) in fiscal year 2023, primarily due to increase in lease liabilities during the financial year.  
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  (13)      Other operating expenses mainly consist of marketing expenses,