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.
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:
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