VCI Global Enters Into a Pivotal Partnership That Could Increase Its Client Portfolio Base

KUALA LUMPUR, Malaysia, March 25, 2024 (GLOBE NEWSWIRE) -- 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.