VCI Global CEO Boosts Stake by 15.27%, Shows Trust in Growth
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VCI Global CEO Increases Shareholding Significantly
KUALA LUMPUR, Malaysia — VCI Global Limited (NASDAQ: VCIG) (Frankfurt: H0T) is pleased to announce a considerable increase in shareholding by its Chief Executive Officer, Dato’ Victor Hoo. This strategic move underscores his confidence in the Company’s growth potential, coinciding with a recent share buyback program and impressive financial results.
Significant Stake Growth
Before recent transactions, Dato’ Victor Hoo beneficially owned and controlled 12.05% of the total outstanding shares of VCI Global. This included a direct holding of 10.72% and an indirect stake of 1.33% via V Invesco Fund (L) Limited, a company he owns. Following his latest transactions, Dato’ Hoo's stake has risen to approximately 27.32%, marking an impressive increase of 15.27%. This boost not only highlights his unwavering confidence in VCI Global’s strategic direction but also demonstrates strong belief in its future growth.
Impressive Financial Performance
The recent actions by the CEO align perfectly with the company’s strong financial performance. VCI Global has reported remarkable financial metrics, showing a year-over-year revenue increase of 44%, a 57% rise in gross profit, and a 25% boost in net income. These results are poised to align with the company’s guidance of a 65% revenue increase and a 68% rise in gross profit for the fiscal year 2024, with potential for exceeding these targets as current positive trends persist.
CEO's Statement on Growth and Commitment
“I am deeply committed to VCI Global and its vision for long-term growth. My increased investment is a clear endorsement of the Company’s direction and performance. Alongside our strong financial results and share buyback program, it reinforces my confidence in our continued success and our ability to deliver lasting value to shareholders,” stated Dato’ Victor Hoo, Group Executive Chairman and Chief Executive Officer of VCI Global.
About VCI Global Limited
VCI Global is a diversified holding company with a focus on consulting, fintech, artificial intelligence (AI), robotics, and cybersecurity. Based in Kuala Lumpur, Malaysia, the company's main operations are centered across Asia with significant visibility in the Asia Pacific region, the United States, Europe, and the Middle East.
The Company proudly provides consulting services in capital markets, real estate, AI, and technology. In the technology sector, VCI Global utilizes a proprietary financing platform aimed at supporting businesses and individuals, alongside a secure messaging platform catering to governmental and organizational needs. The Company also emphasizes investment, incubation, acceleration, and commercialization of businesses and technologies in AI and robotics.
Contact Information
For media queries, please contact:
VCI Global Limited
enquiries@v-capital.co
Frequently Asked Questions
What recent action did the CEO of VCI Global take?
Dato’ Victor Hoo increased his shareholding in VCI Global by 15.27%, boosting his total ownership to approximately 27.32%.
How did VCI Global's financial performance trend in 2024?
The Company reported a 44% year-over-year increase in revenue, along with a 57% rise in gross profit and a 25% increase in net income during the first half of 2024.
What are VCI Global's future financial expectations?
VCI Global aims for a 65% revenue increase and a 68% rise in gross profit for the financial year 2024, potentially exceeding these targets.
What sectors does VCI Global operate in?
VCI Global focuses on consulting, fintech, AI, robotics, and cybersecurity, providing a range of services across these sectors.
How can I contact VCI Global for more information?
For inquiries, you can reach VCI Global at enquiries@v-capital.co.
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