(MENAFN– EIN Presswire)
VCI Global Limited (VCIG): Revenue Growth from IPO Consultancy
VCI Global (NASDAQ:VCIG)
ATLANTA, GA, UNITED STATES, October 18, 2024 /EINPresswire/ — VCI Global reported a 145% revenue increase in 2023, rising from $8.1 million to $19.8 million. This growth came mainly from its business consultancy, earning $14.7 million (74% of total revenue) thanks to higher IPO activities. The technology division also contributed $4.5 million (23% of total revenue), driven by fintech projects. VCI’s net income rose 57% to $7.2 million, reflecting strong profitability with an 85% gross margin.
This growth is attributed to strategic initiatives and rising demand for IT consulting, particularly in Malaysia, which is expected to grow from $0.21 billion in 2022 to $0.25 billion in 2024. VCI aims for a 50% revenue increase in IPO advisory by 2025, responding to more businesses looking to go public.
IPO Consultancy: A Major Revenue Source
VCI’s IPO advisory services are crucial to its growth, particularly in 2023. The company has successfully helped businesses navigate IPO processes in markets like Malaysia and Singapore. Recent contracts indicate VCI’s expanding role, including a major deal with a Singapore-based Fin-MedTech group expected to yield $4-8 million in revenue.
Looking forward, VCI plans to enhance its IPO advisory capabilities through partnerships with financial institutions, aligning with the growing demand for IPO services in Southeast Asia.
About VCI Global Limited
VCI Global is a diversified firm focusing on consulting, fintech, AI, robotics, and cybersecurity, primarily operating in Asia and beyond. It offers a range of consulting services and technology solutions.
About Landon Capital
Landon Capital, established in 2017, helps emerging companies build investor relations and increase market interest.
Legal Disclaimer:
EIN Presswire provides this news content without any warranties. We are not liable for inaccuracies. For concerns, contact the author.
`
