VCI Global Limited, a diversified holding company, has announced a remarkable 41% increase in revenue for the financial year ending 31 December 2024, reaching $278m. This growth was largely fuelled by strong performances in its capital market consultancy, technology, and fintech segments. The company’s gross profit also rose by 39% to $229m, reflecting effective cost management and strategic expansion.
The technology development solutions and consultancy segment saw a significant 155% increase in revenue, amounting to $114m, supported by a robust 79% gross profit margin. This growth highlights VCI Global’s scalability and momentum in the sector. The company is also advancing its cross-sector platform strategy, integrating AI infrastructure, Cybersecurity-as-a-Service, fintech solutions, and renewable energy assets.
Key milestones for 2025 include the planned public listing of V Capital Consulting Group Limited, VCI Global’s consulting arm, and the expansion of AI-as-a-Service and Cybersecurity-as-a-Service through V Gallant Sdn Bhd. Additionally, the company aims to enhance its fintech infrastructure and roll out solar energy initiatives to support the digital economy.
Group Executive Chairman and CEO, Dato Victor Hoo, stated, “Our strong performance reflects bold strategic execution across high-growth sectors where we see sustained demand.” The company also reported a net income of $76m for 2024, up from $72m in 2023, and a significant increase in cash and cash equivalents to $81m by the end of the year.
VCI Global’s strategic office expansions into Singapore and Hong Kong are set to bolster its cybersecurity services and deepen its capital market presence in Greater China, positioning the company for continued growth and value creation for shareholders.
“`
