Company: VCIG
Filing Date: 2025-05-13
Form Type: 20-F
Source: 0001213900-25-042476
Chunk: 155

Company: VCI Global Ltd
Filing Date: 2025-05-13
Form: 20-F
Item: Item 19
Chunk 155
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: For other receivables, the Company applies
the ECL rate ranged from3.00% to15.00%

F-33

In addition to the general provision matrix, the Company assesses certain
specific trade and other receivables individually. This individual assessment is based on direct contact with the debtor, historical payment
behavior, and other relevant factors to determine whether there are specific recoverability issues.

The Company assesses ECL on an annual basis to ensure that the ECL
allowance remains appropriate and reflective of current credit risk conditions. There have been no changes in estimation techniques or
significant assumptions used in calculating ECL during the current reporting period. A receivable is written off when there is objective
evidence that the debtor is experiencing significant financial hardship and there is no reasonable expectation of recovery. Indicators
of such conditions include the debtor entering liquidation or significant deterioration in creditworthiness with no expected future cash
flows.

The following table details the provision for ECL based on the Company’s
provision matrix, based on past due status is not further distinguished between the Company’s different customer base:

                                        Trade receivables – days past due                                                                                 
                                        Not                                    1 to 30      31-60      61-210                                             
                                        RM                                     RM           RM         RM                                                 
  Lifetime ECL – December 31, 2023                                                                                 480,326      2,037,796      2,518,122  
  Lifetime ECL – December 31, 2024                                                                                 953,938        282,505      2,097,071  

The currency profiles of the Company’s
trade and other receivables at the end of the reporting date are as follows:

                            December 31,                     December 31,                  
                            RM                               RM                            
  United States dollar                        5,743,323                        18,233,446  

As of December 31, 2024, prepayment
mainly consists of:

  Advance payment for IT and AI related consultancy services to a third-party  

F-34

  The development of Vendor and Customer relationship management system                                                                   

  The development of Cloud Management Platform Development (“ CMP”)                                                                        
  Legal service from a third-party US legal entity for total cost of                                                                       

Other receivables primarily consist
of third parties who purchased shares from the Company that were acquired through its IPO projects.

  11      LOAN RECEIVABLES  
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