VCI GLOBAL (NASDAQ: VCIG) CEO BUYS MORE STOCK INCREASING HIS SHAREHOLDINGS BY 15.27%,

Chief Executive Officer, Dato’ Victor Hoo, has significantly increased his shareholding in the Company. This move, along with the recent share buyback program announced on August 19, 2024, and the Company’s strong financial performance for the first half of 2024, highlights VCIG’s impressive growth trajectory and positive outlook.

Prior to the transaction, Dato’ Victor Hoo beneficially owned and controlled 12.05% of the Company’s total outstanding shares, comprising 10.72% held directly and 1.33% of indirect shareholding through V Invesco Fund (L) Limited, a company he owns. Following the transaction, he now beneficially owns and controls a total of approximately 27.32% of the Company’s total outstanding shares. This represents an increase of 15.27% in his overall shareholding, underscoring his strong confidence in the Company’s strategic direction and future growth potential.

The CEO’s investment, combined with the impressive financial results for the first half of 2024, reflects VCIG’s strong growth prospects and commitment to long-term success. The Company reported notable financial metrics, including a 44% year-over-year increase in revenue, a 57% rise in gross profit, and a 25% growth in net income. These results are aligned with our full-year guidance of a 65% increase in revenue and 68% rise in gross profit for the financial year 2024, and may exceed these targets if current trends continu