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.
- 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.
Consultancy12,935,361 11,412,582 13.3%Interest Income2,285,415 1,214,842 88.1%Others380,298 372,965 2.0%Total Revenue26,087,422 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 million as 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.
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 million as 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
[email protected]
Financial Tables
Consolidated Statements of Financial Position
As of December 31, 2024 and 2025 December 31,
2025 December 31,
202 USD USDASSETS Non-current assets Financial assets at fair value through other comprehensive income17,513,555 28,547,482Investment in associates2 -Property and equipment1,061,170 573,084Right-of-use assets734,696 120,670Intangible assets4,050,583 7,288,633Amount due from related parties62,833,133 -Loan receivables- 6,562,292Total non-current assets86,193,139 43,092,161 Current assets Trade and other receivables29,512,675 30,009,175Inventories257,485 -Loan receivables- 10,283,529Tax recoverable- 73,976Cash and bank balances940,963 8,100,899Total current assets30,711,123 48,467,579 Total assets116,904,262 91,559,740 LIABILITIES AND EQUITY Current liabilities Trade and other payables13,237,049 4,415,133Lease liabilities399,858 82,431Bank and other borrowings- 160,455Warrant liabilities2,625,440 33,305Convertible note liabilities2,930,281 -Amount due to related parties- 487,111Income tax payable692,322 -Total current liabilities19,884,950 5,178,435 Non-current liabilities Lease liabilities346,754 37,553Bank and borrowings- 21,936Amount due to related parties456,084 -Deferred tax liabilities5,382 -Total non-current liabilities808.220 59,489 Total liabilities20,639,170 5,237,924
Consolidated Statements of Financial Position
As of December 31, 2024 and 2025 December 31,
2025 December 31,
2024 USD USDCapital and reserves Share capital150,490,803 76,395,175 Capital reserve1,609,623 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 Company96,212,531 86,323,071 Non-controlling interests(1,439) (1,255)Total equity96,211,092 86,321,816 Total liabilities and equity116,904,262 91,559,740
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 USDRevenue26,087,422 27,824,891 Revenue - related party- - Total revenue26,087,422 27,824,891 Other income9,364,628 241,591 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)
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 USDProfit 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)
Consolidated Statements of Cash Flows
For The Years Ended December 31, 2024 and 2025 December 31,
2025 December 31,
2024 USD USDOperating activities Profit/loss before income tax-29,621,520 7,685,243Adjustment for: Impairment loss on intangible assets918,324 Provision for allowance for expected credit losses on trade and other receivables5,155,117 549,924Provision for allowance for expected credit losses on other receivables3,268,968 369,347Provision for allowance for expected credit losses on loan receivables31,867 53,252Non-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 investment868,346 -Fair value loss on financial assets, at fair value through profit or loss- 14,407Share-based compensation awards6,651,698 1,890,495Share option expenses308,878 -Director fee paid in shares4,487,613 -Share-based payment - consultancy fees4,511,659 2,900,939Fair value loss on derivative liabilities through profit and loss1,067,076 -Write-off on intangible assets45,765 4,251Depreciation of property and equipment130,652 89,414Depreciation of right-of-use assets405,866 148,644Amortisation of intangible assets955,970 207,989Change in working capital, net of effects from acquisition and disposal of subsidiaries42,108,520 399,540Bad debt written off4,271,583 -Conversion of convertible notes- -Issuance of warrant liabilities503,709 -Loss on dissolve of subsidiaries- 1,033Change in fair value of warrant liabilities- 33,977Interest expenses619,994 131,912Interest income-4,908 -4,140Operating cash flows before movements in working capital9,901,913 14,476,227 Trade and other receivables-15,982,127 11,989,387Inventories-257,485 -Loan receivables- -8,717,135Trade and other payables8,821,916 4,693,637 Cash generated from/(used in)
operations2,484,217 22,442,116Income tax (paid)/refund133,573 -162,609Net cash from/(used in) operating activities2,617,790 22,279,507 Investing activities Acquisition of property and equipment-953,191 -327,077Acquisition of intangible assets-5,920,209 -2,290,423Interest received4,908 4,140Acquisition of financial assets, at fair value through other comprehensive income-7,515,616 -47,710,805Proceeds from disposal of financial assets measured at fair value through other comprehensive income4,248,592 1,678,000Proceeds 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- 1,785Net cash (used in)/from
investing activities-72,968,649 -48,644,380 Financing activities Proceed from issuance of ordinary shares53,681,106 35,013,797Proceeds from lease liabilities1,159,035 -Repayment of other borrowings- -Repayment from bank borrowings-9,673 -23,989Interest paid - Lease obligation- -9,491Interest 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 -160,827Repayment of advances made from related parties-439,048 -290,882Proceeds from issuance of convertible notes14,000,000 -Dividend paid -Net cash (used in)/from financing activities66,186,404 34,528,608Net increase/decrease in cash and cash equivalents-4,164,455 8,163,735Foreign exchange effect-2,995,481 -1,073,291Cash and bank balances at beginning of year8,100,899 1,010,455Cash and bank balances at end of year940,963 8,100,899