VCI Global Secures Major AI Contract Valued at $24 Million

VCI Global Receives Conditional Award for AI Project

VCI Global Limited (NASDAQ: VCIG) recently announced an exciting development in its journey toward advancing artificial intelligence technologies. Through its subsidiary, V-Gallant Sdn. Bhd., VCI Global has received a conditional Letter of Award from Hexatoff Group Sdn. Bhd. The agreement is valued at approximately $24 million and will focus on the enhancement of digital infrastructure through innovative AI solutions.

Collaborating with Hexatoff Group

Under the terms of this partnership, V-Gallant has been tasked with providing state-of-the-art AI hardware and software. This includes deploying a sophisticated AI computing system equipped with 640 units of NVIDIA H200 Tensor Core GPUs, which will play a pivotal role in the first phase of Hexatoff Group's ambitious data center development.

The Role of Hexatoff Group

Hexatoff Group stands out as a leading turnkey solutions provider in Malaysia, specializing in infrastructure and building construction. Notably, it is registered with the Ministry of Finance Malaysia, boasting the country’s highest-grade construction license (G7). This collaboration is vital to establishing Malaysia as a key player in the Southeast Asian AI and digital infrastructure landscape.

The Evolving Landscape of Data Centers in Malaysia

Malaysia's prominence in the data center market is becoming increasingly apparent. With the support of the Malaysian Investment Development Authority (MIDA), the country has approved 12 major data center investment projects worth around $21 billion. This reflects growing interest in cloud computing and data hosting, presenting an opportunity for regional leaders like VCI Global.

Investments Fueling Growth

The Ministry of Investment, Trade, and Industry (MITI) reported that six of these projects, valued at roughly $16 billion, are already operational. These state-of-the-art projects are strategically located across Johor, Selangor, and Kuala Lumpur, reinforcing Malaysia's emerging role as a significant market for data center development in the ASEAN region.

Driving Innovation in Digital Infrastructure

The hustle and bustle of major corporations such as Microsoft and Google establishing data centers in Malaysia highlight the country’s transformation into an AI hub. Furthermore, VCI Global's collaboration with Hexatoff Group is a testament to its commitment to fostering innovation and sustainable growth in the area. As stated by Dato’ Victor Hoo, Group Executive Chairman and CEO of VCI Global, this partnership aims to enhance Malaysia’s position in the global AI and digital infrastructure landscape.

The Future of AI and Digital Growth

This collaboration also supports VCI Global’s core objective of catalyzing advancements in AI and digital solutions across various sectors. With a broad portfolio that includes capital market consultancy, fintech, real estate, AI & Robotics, and cybersecurity, VCI Global is dedicated to delivering exceptional value and innovation.

About VCI Global Limited

Headquartered in Kuala Lumpur, VCI Global is a diversified holding company with expertise spanning five core sectors. These sectors include Capital Market Consultancy, Fintech, Real Estate, AI & Robotics, and Cybersecurity. Each sector contributes to the company's overarching mission of innovation and value delivery in the Asia-Pacific region and beyond.

About Hexatoff Group Sdn. Bhd.

Founded in 2015, Hexatoff Group excels in providing turnkey solutions for building and infrastructural projects. With over 20 years of collective industry experience, the group has developed several significant projects, signaling a commitment to quality and sustainability in its construction practices.

Frequently Asked Questions

What is the value of the contract awarded to VCI Global?

The contract awarded to VCI Global is valued at approximately $24 million.

Who is V-Gallant Sdn. Bhd.?

V-Gallant Sdn. Bhd. is a subsidiary of VCI Global, focusing on advanced technology solutions including AI hardware and software.

What role does Hexatoff Group play in this project?

Hexatoff Group is a leading turnkey solutions provider responsible for the development of the data center infrastructure that V-Gallant will support with AI solutions.

How is Malaysia positioned in the data center market?

Malaysia is becoming a key player in the data center sector, with multiple investment projects that underscore its strategic importance in Southeast Asia.

What industries does VCI Global operate in?

VCI Global operates in various sectors including fintech, capital market consultancy, real estate, AI, and cybersecurity, among others.

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