VCI Global Enters Into a Pivotal Partnership That Could Increase Its Client Portfolio Base
March 25 2024 - 8:30AM
VCI Global Limited (NASDAQ: VCIG) (“VCI Global”, or the “Company”)
a diversified holding company, focuses on consulting, fintech, AI,
robotics, cybersecurity, and gamification. Today, it announced that
it has entered into an agreement with W Capital Markets Pte Ltd (“W
Capital”), a Singapore based company. This partnership is for the
purpose of introducing prospective clients to one another.
W Capital is a holder of the Capital Markets
Services (“CMS”) licence issued by the Monetary Authority of
Singapore to conduct the regulated activities of “Advising on
Corporate Finance” and “Dealing in Capital Market Products that are
Securities and units in a Collective Investment Scheme” and is an
accredited Mainboard IPO Issue Manager and Catalyst Full Sponsor
authorized by the SGX. W Capital provides a full suite of bespoke
investment banking services, including M&As, IPOs, Pre-IPO
& secondary fund raising and financial advisory, with a focus
on mid-cap companies (S$50 million to S$1 billion enterprise value)
in the Asia Pacific region.
Under this proposed agreement, VCI Global will
introduce clients to W Capital, who may have an interest in the
investment banking services offered by W Capital. Additionally, VCI
Global will collaborate with W Capital to jointly advise clients
interested in seeking initial public offering listings on the stock
exchanges in the United States, particularly the Nasdaq Capital
Markets.
“This collaboration will enable both parties to
leverage on each other’s strength. In the case of VCI Global, this
collaboration will enlarge our pool of potential clients seeking to
be listed in the United States, undoubtedly increasing our earnings
into the medium term at the very least. Of course, we are pleased
to reciprocate W Capital’s actions by passing clients to them with
interest in investment banking services,” said Dato’ Victor Hoo,
Group Executive Chairman and Chief Executive Officer of VCI
Global.
“We are confident that this collaboration will
create significant value for our clients intending to seek a
listing on the Nasdaq Capital Markets by providing them with access
to the combined expertise and resources of W Capital and VCI Global
to help them navigate the IPO process successfully. Furthermore,
clients introduced by VCI Global will gain access to our full suite
of bespoke investment banking services, including M&A and trade
sale advisory and private equity growth capital fund raising.
Additionally, clients may tap into pre-IPO funding provided by W
Capital Private Equity VCC, an associate of W Capital which invests
in small to mid-cap companies from Series B to Pre-IPO stage, to
bridge their funding needs prior to their planned IPO,” said Wayne
Lee, Chairman and Chief Executive Officer of W Capital.
About VCI Global Limited
VCI Global is a diversified holding company.
Through its subsidiaries, it focuses on consulting, fintech, AI,
robotics, cybersecurity, and gamification. Based in Kuala Lumpur,
Malaysia, our main operations are centered in Asia, with
significant visibility across Asia Pacific, the United States,
Europe, and the Middle East. VCIG primarily offers consulting
services in capital markets, real estate, AI, and technology. In
technology businesses, the company operates a proprietary financing
platform that serves companies and individuals, as well as a secure
messaging platform serving governments and organizations. We also
invest, incubate, accelerate, and commercialize businesses and
technologies in AI, robotics, and gamification.
For more information on the Company, please log on to
https://v-capital.co/.
Cautionary Note Regarding Forward-Looking
Statements
This press release contains forward-looking
statements that are subject to various risks and uncertainties.
Such statements include statements regarding the Company’s ability
to grow its business and other statements that are not historical
facts, including statements which may be accompanied by the words
“intends,” “may,” “will,” “plans,” “expects,” “anticipates,”
“projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,”
“potential” or similar words. Actual results could differ
materially from those described in these forward-looking statements
due to certain factors, including without limitation, the Company’s
ability to achieve profitable operations, customer acceptance of
new products, the effects of the spread of Coronavirus (COVID-19)
and future measures taken by authorities in the countries wherein
the Company has supply chain partners, the demand for the Company’s
products and the Company’s customers’ economic condition, the
impact of competitive products and pricing, successfully managing
and, general economic conditions and other risk factors detailed in
the Company’s filings with the United States Securities and
Exchange Commission (SEC). The forward-looking statements contained
in this press release are made as of the date of this press
release, and the Company does not undertake any responsibility to
update the forward-looking statements in this release, except in
accordance with applicable law.
CONTACT INFORMATION:
For media queries, please contact:
VCI Global Limitedenquiries@v-capital.co
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