Transformation Year Marked by the Successful Spin-off of VCCG, Strategic Investment in AI Infrastructure and Next-Generation Technologies, and the Completion of a Comprehensive Corporate Restructuring to Position the Company for its Next Phase of Growth
KUALA LUMPUR, Malaysia, July 15, 2026 (GLOBE NEWSWIRE) -- VCI Global Limited (NASDAQ: VCIG) ("VCI Global" or the "Company"), an AI-native operating platform focused on AI infrastructure, digital assets, renewable energy, and enterprise technologies, today announced its financial results for the fiscal year ended December 31, 2025 (the "Financial Results"), a transformational year during which the Company completed a comprehensive corporate restructuring, streamlined its business portfolio, and repositioned itself as an AI-native operating platform focused on scalable, technology-driven growth.
-
Completed a major strategic transformation, including the spin-off of V Capital Consulting Group Limited ("VCCG"), enabling the Company to sharpen its focus on AI infrastructure, enterprise technology, digital assets, and renewable energy.
-
Reported revenue of US$26.1 million in the fiscal year ended December 31, 2025, compared to US$27.8 million in the fiscal year ended December 31, 2024.
-
Revenue from technology development, solutions and consultancy increased 13.3% year-over-year (YoY) to US$12.9 million, demonstrating continued momentum in the Company's technology-driven businesses.
-
Other income increased to US$9.4 million, increased to US$9.3 million, primarily attributable to a US$5.9 million foreign exchange gain and US$2.5 million in non-recurring settlement compensation.
-
Reported a net loss of US$30.2 million, primarily reflecting non-cash valuation adjustments, restructuring-related expenses, losses on the disposal of core subsidiaries, and strategic investments in AI infrastructure.
-
Entered fiscal year 2026 with a streamlined corporate structure designed to accelerate the commercialization of the Company's AI-native operating platform.
"FY2025 was a deliberate transition year for VCI Global. We made the strategic decision to prioritize long-term value creation over short-term earnings by streamlining our portfolio, spinning off VCCG, investing aggressively in AI infrastructure, and repositioning the Group around scalable technology businesses," said VCI Global management team.
"While these actions resulted in significant non-recurring accounting charges and near-term earnings pressure, they also established a stronger operating platform with greater strategic focus. We believe the investments and restructuring undertaken during the year have positioned VCI Global to capitalize on emerging opportunities across artificial intelligence, digital assets, renewable energy and enterprise technologies."
FINANCIAL RESULTS
Revenue for fiscal year ended December 31, 2025 was US$26.1 million, a 6% decrease from US$27.8 million in fiscal year ended December 31, 2024.
-
VCI Global's revenue generated from the business strategy consultancy segment fee decreased by 29% to US$10.5 million for the fiscal year ended December 31, 2025, compared to US$14.8 million for the fiscal year ended December 31, 2024. The YoY decrease was primarily attributable to the timing of project execution and revenue recognition, as several large engagements reached key completion milestones in the prior year, while newly secured mandates remained in earlier phases of execution during fiscal year ended December 31, 2025. In December 2025, the Company completed the spin-off of this segment through the separation of VCCG, allowing VCI Global to sharpen its strategic focus on AI infrastructure, enterprise technology, digital assets, and renewable energy while enabling VCCG to pursue its growth strategy as a dedicated capital markets advisory business.
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The Company's revenue generated from technology development, solutions and consultancy increased by 13.3% to US$12.9 million for fiscal year ended December 31, 2025, compared to US$11.4 million for the fiscal year ended December 31, 2024. The growth was driven by the successful commercialization and delivery of several high-value technology projects, including an AI-powered livestreaming platform, digital marketing solutions, and a gaming platform aggregation project. The segment continued to demonstrate strong execution capabilities and growing market demand for the Company's AI-driven and digital transformation solutions, reinforcing technology as a key growth engine and an increasingly important contributor to VCI Global's long-term growth strategy.
-
Revenue generated from interest income increased significantly by US$1.1 million, from US$1.2 million in fiscal year ended December 31, 2024, to US$2.3 million in fiscal year ended December 31, 2025, marking an 88% growth. The growth was primarily driven by the continued expansion of the Company's fintech subsidiary, Credilab, which increased its customer loan portfolio, resulting in a larger base of income-generating loans and higher recurring interest income during the year.
-
VCI Global's revenue generated from other services increased over 2% to US$380.3 thousand for fiscal year ended December 31, 2025, compared to US$373.0 thousand for fiscal year ended December 31, 2024.
For the Fiscal Year Ended December 31
2025
2024
Change
USD
USD
%
Revenue from Business Strategy Consultancy
10,486,348
14,824,502
-29.3
%
Revenue from Technology Development, Solutions and
Consultancy
12,935,361
11,412,582
13.3
%
Interest Income
2,285,415
1,214,842
88.1
%
Others
380,298
372,965
2.0
%
Total Revenue
26,087,422
27,824,891
-6.2
%
Other Income for fiscal year ended December 31, 2025 was US$9.3 million, representing a surge of 3,776%, compared to US$241.6 thousand in fiscal year ended December 31, 2024. The increase was primarily driven by a foreign exchange gain of US$5.9 million, reflecting favourable currency movements during the year, and compensation of US$2.5 million received in connection with the decline in share value under a commercial settlement arrangement with a third party.
EBITDA for fiscal year ended December 31, 2025 was negative US$27.5 million.
Net loss attributable to shareholders was US$30.3 million in the fiscal year ended December 31, 2025, primarily reflecting non-cash unrealized valuation adjustments, restructuring-related expenses associated with the Company's strategic reorganization, losses on the disposal of core subsidiaries, and investments made to expand its AI infrastructure and technology capabilities.
Cost of Service was US$6.8 million for the financial year ended December 31, 2025, representing an increase of 37% from US$4.9 million for the financial year ended December 31, 2024.
-
Consultant fee costs declined by 50% year-over-year to US$1.1 million, reflecting the successful completion of several major consulting engagements in fiscal year ended December 31, 2024 and the Company's transition toward technology-led businesses requiring a different operating model.
-
IT expenses increased to US$5.7 millionas the Company accelerated investments in AI infrastructure, generative AI capabilities, AI digital human technologies, enterprise software platforms and cloud computing resources. These investments are expected to support future product commercialization and long-term scalability.
-
Subscription fee was US$8.1 thousand for the fiscal year ended December 31, 2025, compared to US$10.9 thousand for the fiscal year ended December 3, 2024.
-
Other cost of service only incurred US$304 due to the disposal of the Company's education business which resulted in the absence of training expenses and staff-related costs.
| * | 2025 |
* | 2024 |
* | Change |
* |
| * | USD |
* | USD |
* | % |
* |
| Consultant Fee |
1,087,392 |
* | 2,194,536 |
* | -50.5 |
% |
| IT Expenses |
5,660,899 |
* | 2,408,554 |
* | 135.0 |
% |
| Subscription Fee |
8,116 |
* | 10,892 |
* | -25.5 |
% |
| Referral Fee |
0 |
* | 181,139 |
* | -100 |
% |
| Others |
304 |
* | 153,072 |
* | -99.8 |
% |
| Total |
6,756,711 |
* | 4,948,193 |
* | 36.6 |
% |
Depreciation expense increased to US$536 thousand, reflecting significant capital investments made during the year, including the expansion of office and campus facilities, technology infrastructure, enterprise software and equipment required to support the Company's strategic transformation.
Employee benefit expenses increased to US$17.3 millionas the Company expanded its workforce across technology, engineering, artificial intelligence and corporate functions to support the execution of its long-term growth strategy.
Other operating expenses primarily consist of marketing expenses, staff welfare, office expenses, travel expenses, secretarial fees and other miscellaneous operating expenses. Other operating expenses increased by US$22.4 million, from US$4.4 million in fiscal year ended December 31, 2024 to US$26.7 million in fiscal year ended December 31, 2025. The increase was primarily attributable to non-recurring charges associated with the Company's strategic transformation, including losses recognized on the disposal of subsidiaries as part of its portfolio optimization initiatives, higher provisions for receivables following prudent management assessments, and investment losses arising from the rationalization of certain investment holdings. In addition, the Company increased investments in customer engagement, brand building, and business development initiatives to support the commercialization of its AI-native operating platform and strengthen its long-term growth prospects.
Basic and diluted earnings per share was negative US$463.01 for the financial year ended December 31, 2025.
CASH POSITION AND CAPITAL ALLOCATION
Net cash generated operating activities was US$2.6 million in fiscal year ended December 31, 2025, from US$22.3 million in the previous fiscal year.
Net cash used in investing activities was US$73.0 million as of December 31, 2025, a significant increase from US$48.6 million as of December 21, 2024.
Net cash generated from financing activities in the fiscal year ended December 31, 2025 was US$66.2 million, primarily reflecting proceeds of convertible notes at US$14.0 million, repayment of finance lease liabilities at US$1.6 million, and proceeds from issuance of shares at US$53.7 million.
Cash and cash equivalents were recorded at US$940 thousand as of December 31, 2025, compared to the US$8.1 million as of December 31, 2024.
About VCI Global Limited
VCI Global Limited (NASDAQ: VCIG) is an AI-native operating platform designed to scale and optimize businesses through centralized intelligence, data, and capital discipline.
The Company operates a platform-based model in which subsidiaries, affiliates, and portfolio companies plug into VCI Global's centralized AI, data, governance, and capital allocation systems, enabling faster execution, improved capital efficiency, and scalable growth across multiple industries.
VCI Global's platform centralizes AI-enabled execution, standardized KPI frameworks, financial and governance controls, and strategic capital allocation, while operating businesses focus on revenue generation, customer relationships, and local execution.
The Company maintains exposure across advisory, AI, and digital infrastructure, digital assets, energy, automotive, and consumer sectors, and continuously evaluates opportunities to scale, spin off, divest, or discontinue businesses based on performance, scalability, and return on capital.
VCI Global's platform-centric approach is designed to enhance productivity, improve IPO readiness, and unlock long-term value through disciplined growth and selective capital deployment.
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. These forward-looking statements are based only on our current beliefs, expectations, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict and many of which are outside of our control. Therefore, you should not rely on any of these forward-looking statements. 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 LIMITED
enquiries@v-capital.co
Financial Tables
VCI Global Limited and Its Subsidiaries
Consolidated Statements of Financial Position
As of December 31, 2024 and 2025
December 31,
2025
December 31,
202
USD
USD
ASSETS
Non-current assets
Financial assets at fair value through other comprehensive income
17,513,555
28,547,482
Investment in associates
2
-
Property and equipment
1,061,170
573,084
Right-of-use assets
734,696
120,670
Intangible assets
4,050,583
7,288,633
Amount due from related parties
62,833,133
-
Loan receivables
-
6,562,292
Total non-current assets
86,193,139
43,092,161
Current assets
Trade and other receivables
29,512,675
30,009,175
Inventories
257,485
-
Loan receivables
-
10,283,529
Tax recoverable
-
73,976
Cash and bank balances
940,963
8,100,899
Total current assets
30,711,123
48,467,579
Total assets
116,904,262
91,559,740
LIABILITIES AND EQUITY
Current liabilities
Trade and other payables
13,237,049
4,415,133
Lease liabilities
399,858
82,431
Bank and other borrowings
-
160,455
Warrant liabilities
2,625,440
33,305
Convertible note liabilities
2,930,281
-
Amount due to related parties
-
487,111
Income tax payable
692,322
-
Total current liabilities
19,884,950
5,178,435
Non-current liabilities
Lease liabilities
346,754
37,553
Bank and borrowings
-
21,936
Amount due to related parties
456,084
-
Deferred tax liabilities
5,382
-
Total non-current liabilities
808.220
59,489
Total liabilities
20,639,170
5,237,924
VCI Global Limited and Its Subsidiaries
Consolidated Statements of Financial Position
As of December 31, 2024 and 2025
December 31,
2025
December 31,
2024
USD
USD
Capital and reserves
Share capital
150,490,803
76,395,175
Capital reserve
1,609,623
1,461,292
Fair value reserve
(32,709,812
)
(480,596
)
Translation reserves
(2,873,505
)
(981,534
)
(Accumulated losses)/Retained earnings
(20,304,578
)
9,928,734
Attributable to equity owners of the Company
96,212,531
86,323,071
Non-controlling interests
(1,439
)
(1,255
)
Total equity
96,211,092
86,321,816
Total liabilities and equity
116,904,262
91,559,740
VCI Global Limited and Its Subsidiaries
Consolidated Statements of Profit or Loss and Other Comprehensive Income/(Loss)
For The Years Ended December 31, 2024 and 2025
December 31,
2025
December 31,
2024
USD
USD
Revenue
26,087,422
27,824,891
Revenue - related party
-
-
Total revenue
26,087,422
27,824,891
Other income
9,364,628
241,591
Cost of services
(6,756,711
)
(4,948,193
)
Depreciation
(536,519
)
(238,058
)
Amortisation of Intangible Assets
(955,970
)
(207,989
)
Employee benefit expense
(17,345,345
)
(6,811,397
)
Provision for allowance for expected credit losses on loan receivables
(8,424,085
)
(919,271
)
Provision for allowance for expected credit losses on trade and other receivables
(31,867
)
(53,252
)
Rental expenses
(112,726
)
(100,530
)
Legal and professional fees
(3,546,333
)
(2,608,458
)
Finance cost
(619,994
)
(131,912
)
Other operating expenses
(26,744,020
)
(4,362,179
)
Profit before income tax
(29,621,520
)
7,685,243
Income tax expense
(638,107
)
(108,416
)
Profit for the year
(30,259,627
)
7,576,827
Other comprehensive income/(loss):
Items that will not be reclassified subsequently to profit or loss:
Fair value adjustment on financial assets, at fair value through other comprehensive income
(32,476,445
)
(10,196,302
)
Items that may be reclassified subsequently to profit or loss:
Exchange differences on translating foreign operation
(2,873,505
)
(1,584,687
)
Other comprehensive income/(loss)
(35,349,950
)
(11,780,989
)
Total comprehensive income/(loss) for the year
(65,609,577
)
(4,204,162
)
VCI Global Limited and Its Subsidiaries
Consolidated Statements of Profit or Loss and Other Comprehensive Income/(Loss)
For The Years Ended December 31, 2024 and 2025
December 31,
2025
December 31,
2024
USD
USD
Profit attributable to:
Equity owners of the Company
(30,259,560
)
7,874,203
Non-controlling interests
(67
)
(297,376
)
Total
(30,259,627
)
7,576,827
Total comprehensive income/(loss) attributable to:
Equity owners of the Company
(65,609,510
)
(3,906,786
)
Non-controlling interests
(67
)
(297,376
)
Total
(65,609,577
)
(4,204,162
)
VCI Global Limited and Its Subsidiaries
Consolidated Statements of Cash Flows
For The Years Ended December 31, 2024 and 2025
December 31,
2025
December 31,
2024
USD
USD
Operating activities
Profit/loss before income tax
-29,621,520
7,685,243
Adjustment for:
Impairment loss on intangible assets
918,324
Provision for allowance for expected credit losses on trade and other receivables
5,155,117
549,924
Provision for allowance for expected credit losses on other receivables
3,268,968
369,347
Provision for allowance for expected credit losses on loan receivables
31,867
53,252
Non-cash revenue
-4,476,756
-
Acquisition of financial assets in shares
-31,974,000
-
Reversal on impairment allowance of trade receivable
-60,808
-
Reversal on impairment allowance of other receivables
-265,920
-
Reversal on impairment allowance of loan receivables
-5,780
-
Loss on investment
868,346
-
Fair value loss on financial assets, at fair value through profit or loss
-
14,407
Share-based compensation awards
6,651,698
1,890,495
Share option expenses
308,878
-
Director fee paid in shares
4,487,613
-
Share-based payment - consultancy fees
4,511,659
2,900,939
Fair value loss on derivative liabilities through profit and loss
1,067,076
-
Write-off on intangible assets
45,765
4,251
Depreciation of property and equipment
130,652
89,414
Depreciation of right-of-use assets
405,866
148,644
Amortisation of intangible assets
955,970
207,989
Change in working capital, net of effects from acquisition and disposal of subsidiaries
42,108,520
399,540
Bad debt written off
4,271,583
-
Conversion of convertible notes
-
-
Issuance of warrant liabilities
503,709
-
Loss on dissolve of subsidiaries
-
1,033
Change in fair value of warrant liabilities
-
33,977
Interest expenses
619,994
131,912
Interest income
-4,908
-4,140
Operating cash flows before movements in working capital
9,901,913
14,476,227
Trade and other receivables
-15,982,127
11,989,387
Inventories
-257,485
-
Loan receivables
-
-8,717,135
Trade and other payables
8,821,916
4,693,637
Cash generated from/(used in)
operations
2,484,217
22,442,116
Income tax (paid)/refund
133,573
-162,609
Net cash from/(used in) operating activities
2,617,790
22,279,507
Investing activities
Acquisition of property and equipment
-953,191
-327,077
Acquisition of intangible assets
-5,920,209
-2,290,423
Interest received
4,908
4,140
Acquisition of financial assets, at fair value through other comprehensive income
-7,515,616
-47,710,805
Proceeds from disposal of financial assets measured at fair value through other comprehensive income
4,248,592
1,678,000
Proceeds from disposal of financial assets, net cash and cash equivalents disposed of
-62,833,133
-
Proceed from disposal of financial assets, at fair value through profit and loss
-
1,785
Net cash (used in)/from
investing activities
-72,968,649
-48,644,380
Financing activities
Proceed from issuance of ordinary shares
53,681,106
35,013,797
Proceeds from lease liabilities
1,159,035
-
Repayment of other borrowings
-
-
Repayment from bank borrowings
-9,673
-23,989
Interest paid - Lease obligation
-
-9,491
Interest paid - convertible notes
-
-
Interest paid
-619,994
-
Proceeds from initial public offering, net of transaction cost
-
-
Payment for initial public offering expense
-
-
Payment for lease liabilities
-1,585,022
-160,827
Repayment of advances made from related parties
-439,048
-290,882
Proceeds from issuance of convertible notes
14,000,000
-
Dividend paid
-
Net cash (used in)/from financing activities
66,186,404
34,528,608
Net increase/decrease in cash and cash equivalents
-4,164,455
8,163,735
Foreign exchange effect
-2,995,481
-1,073,291
Cash and bank balances at beginning of year
8,100,899
1,010,455
Cash and bank balances at end of year
940,963
8,100,899
