VCI Global partners with Treasure Global Inc. to accelerate

KUALA LUMPUR, Malaysia, June 18, 2024 (GLOBE NEWSWIRE) — VCI Global Limited (NASDAQ: VCIG) (“VCI Global”, “VCIG” or the “Company”), through its subsidiary Credilab Sdn. Bhd. today announced its strategic collaboration with Treasure Global Inc (“TGL”) to enhance TGL’s e-commerce platform, ZCITY App, into an advanced AI-powered super app (“ZCITY Super App”). Through this strategic partnership, VCIG will leverage TGL’s extensive user base of approximately 3 million users, gaining immediate market access to expand its comprehensive suite of financial services.

As fintech plays a key role in today’s digital economy, its impact on e-commerce is irreplaceable, offering sophisticated tools and platforms that seamlessly streamline transactions. In this new partnership, Credilab brings its cutting-edge, proprietary fintech and microfinance capabilities and leverages VCIG’s collaboration with Cogia GmbH, offering industry-leading secure communications technology that combines fintech and e-commerce. By incorporating secure messaging, digital wallet and AI-powered microfinance features into TGL’s ZCITY Super app, this integration provides a revolutionary, unified platform that elevates every aspect of digital transactions, ensuring a seamless, secure and highly efficient user experience.

This partnership marks significant progress towards increasing financial inclusion in Southeast Asia by leveraging cutting-edge technology to deliver seamless financial services that benefit both businesses and their users. The initial phase of this initiative will begin in Malaysia, which has a population of over 33 million. This strategic decision provides VCI Global with rapid access to a diverse and dynamic user base, accelerating the Company’s delivery of a full range of financial services and strengthening its strategic position in the fintech and e-commerce landscape in Southeast Asia.

“Leveraging TGL’s extensive user base of 3 million, this strategic partnership not only expands our geographic footprint but also accelerates the implementation of innovative solutions that promise long-term value for our shareholders,” said Dato’ Victor Hoo, President and Group Chief Executive Officer of VCI Global.

About VCI Global Limited

VCI Global is a diversified holding company. Through its subsidiaries, it focuses on consulting, fintech, artificial intelligence, robotics and cybersecurity. Headquartered in Kuala Lumpur, Malaysia, our core business is focused in Asia, with significant visibility in the Asia-Pacific region, the United States, Europe and the Middle East. VCIG primarily offers advisory services in the field of capital markets, real estate, artificial intelligence and technology. For technology enterprises, the company operates a proprietary financial platform that serves businesses and individuals, as well as a secured communications platform that serves governments and organizations. We invest, incubate, accelerate and commercialize companies and technologies in the field of artificial intelligence and robotics.

For more information about the Company, 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 possibility of developing the Company’s business and other statements that are not historical facts, including statements that may be accompanied by the words “intends”, “may”, “will”, “plans”, “expects”, “anticipates” , “projects”, “anticipates”, “estimates”, “aims”, “believes”, “hopes”, “potential” or similar words. Actual results may 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 the Coronavirus (COVID-19) and future measures taken by authorities in countries where the Company has supply chain partners, demand for the Company’s products and the economic conditions of the Company’s customers, the impact of competitive products and pricing, effective management and detailed general economic conditions and other risk factors in the Company’s filings with the U.S. Securities Exchange Commission and Stock Exchanges (SEC). The forward-looking statements contained in this press release are made as of the date of this press release, and the Company disclaims any responsibility to update the forward-looking statements contained in this press release, except as required by applicable law.

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