Company: VCIG
Filing Date: 2025-05-13
Form Type: 20-F
Source: 0001213900-25-042476
Chunk: 87

Company: VCI Global Ltd
Filing Date: 2025-05-13
Form: 20-F
Item: Item 6
Chunk 87
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The Company has employment agreements with each
of our executive officers and directors for an indefinite period. We may terminate the employment for cause, at any time, without advance
notice or remuneration, for certain acts of the executive officers and directors. The Company and the executive officers and the directors
are entitled to terminate the employment with advance notice.

C. Board Practices

Board Leadership Structure and Risk Oversight

Our Board has responsibility for the oversight
of our risk management processes and, either as a whole or through its committees, regularly discusses with management our major risk
exposures, their potential impact on our business and the steps we take to manage them. The risk oversight process includes receiving
regular reports from board committees and members of senior management to enable our Board to understand our risk identification, risk
management, and risk mitigation strategies with respect to areas of potential material risk, including operations, finance, legal, regulatory,
cybersecurity, strategic, and reputational risk.

Board of Directors

Our business and affairs are managed under the
direction of our Board. Our Board consists of 8 directors, 4 of whom qualify as “independent” under the listing standards
of Nasdaq.

Directors serve until the next annual meeting
and until their successors are elected and qualified. Officers are appointed to serve until their successors have been elected and qualified.

Director Independence

Our Board is composed of a majority of “independent
directors” as defined under the rules of Nasdaq. We use the definition of “ independence” applied by Nasdaq to
make this determination. Nasdaq Listing Rule 5605(a)(2) provides that an “ independent director” is a person other than
an officer or employee of the company or any other individual having a relationship which, in the opinion of the Company’s Board,
would interfere with the exercise of independent judgment in carrying out the responsibilities of a director. The Nasdaq listing rules
provide that a director cannot be considered independent if:

  the director is, or at any time during the past three (3) years was, an employee of the company;  

  the director or a family member of the director accepted any compensation                                                                      

  the director or a family member of the director is a partner in, controlling                                                                 

  the director or a family member of the director is employed as an executive officer of an entity where, at any time during the past three (3) years, any of the executive officers of the company...  

  the director or a family member of the