VCI Global CEO Significantly Increases Shareholding
KUALA LUMPUR, Malaysia — VCI Global Limited (NASDAQ: VCIG) (Frankfurt: H0T) is excited to share that its Chief Executive Officer, Dato’ Victor Hoo, has made a substantial increase in his shareholding. This strategic decision reflects his strong confidence in the Company’s growth potential, coinciding with a recent share buyback initiative and impressive financial results.
Notable Stake Increase
Prior to the recent transactions, Dato’ Victor Hoo beneficially owned and controlled 12.05% of VCI Global's total outstanding shares. This comprised a direct holding of 10.72% and an indirect stake of 1.33% through V Invesco Fund (L) Limited, a company he owns. Following his latest transactions, Dato’ Hoo's stake has surged to about 27.32%, representing a remarkable increase of 15.27%. This growth not only underscores his steadfast confidence in VCI Global’s strategic direction but also reflects a strong belief in its future potential.
Strong Financial Performance
The CEO's recent actions align seamlessly with the company's robust financial performance. VCI Global has reported impressive financial metrics, including a year-over-year revenue increase of 44%, a 57% rise in gross profit, and a 25% boost in net income. These results are in line with the company’s guidance, which forecasts a 65% revenue increase and a 68% rise in gross profit for the fiscal year 2024, with the possibility of exceeding these targets as the current positive trends continue.
CEO's Commitment to Growth
“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. Coupled with our strong financial results and share buyback program, it reinforces my confidence in our ongoing 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 that specializes in consulting, fintech, artificial intelligence (AI), robotics, and cybersecurity. Headquartered in Kuala Lumpur, Malaysia, the company operates primarily across Asia, with significant presence in the Asia Pacific region, the United States, Europe, and the Middle East.
The Company offers consulting services in capital markets, real estate, AI, and technology. In the technology arena, VCI Global employs a proprietary financing platform designed to support businesses and individuals, along with a secure messaging platform that meets governmental and organizational needs. The Company also prioritizes investment, incubation, acceleration, and commercialization of businesses and technologies in the fields of AI and robotics.
Contact Information
For media inquiries, please reach out to:
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%, raising 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, with the potential to exceed these targets.
What sectors does VCI Global operate in?
VCI Global focuses on consulting, fintech, AI, robotics, and cybersecurity, providing a diverse 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.
