VCIG · VCI Global Limited

VCI Global Limited's Form 6-K filing details the completed disposition of its two wholly owned subsidiaries, Credilab Sdn. Bhd. and V Capital Consulting Group (VCCG), representing a significant corporate restructuring. The transactions, executed in late December 2025, involved separate share sale agreements with different purchasers for each subsidiary. The sale of Credilab was split between Quanstar Capital Partners LLC and VHKL Private Capital Limited, with total consideration of USD 43.74 million payable in cash installments over five years and three years, respectively. VCCG was sold to VHKL Private Capital Limited and VCCG management for USD 33.975 million, payable in cash or listed shares. The pro forma financial information illustrates the substantial impact of these disposals on VCI Global's financial statements. Most notably, the company recognized a pro forma gain on disposal of approximately USD 317.5 million for the year ended December 31, 2024, dramatically boosting profitability metrics. However, the removal of the subsidiaries' operations resulted in a significant reduction in pro forma revenue to RM 59.6 million from the historical RM 124.4 million. The balance sheet shows a transformed asset structure, with trade and other receivables increasing substantially due to consideration receivable from the sales, while liabilities decreased significantly. The agreements specify that beneficial ownership of the Credilab shares transferred to the purchasers on the agreement date, with the vendor holding shares in trust and exercising rights according to purchaser directions until formal documentation is completed. This disposition represents a strategic shift for VCI Global, substantially altering its business composition and financial profile.