VCI Global Partners With Treasure Global Inc. to Accelerate E-Commerce and Fintech Growth in Southeast Asia
June 18 2024 - 7:39AM
VCI Global Limited (NASDAQ: VCIG) (“VCI Global”, “VCIG”, or the
“Company”), through its subsidiary, Credilab Sdn. Bhd., today
unveiled its strategic collaboration with Treasure Global Inc
(“TGL”) to enhance TGL’s e-commerce platform, ZCITY App, into an
advanced AI-driven Super App (“ZCITY Super App”). In this strategic
partnership, VCIG will leverage TGL’s extensive user base of
approximately 3 million users, gaining immediate market access to
expand its comprehensive suite of financial services.
As fintech assumes a pivotal role in today’s
digital economy, its impact on e-commerce is indispensable,
offering sophisticated tools and platforms that seamlessly
streamline transactions. In this new partnership, Credilab is
bringing its cutting-edge proprietary fintech and microfinancing
capabilities and leveraging VCIG’s collaboration with Cogia GmbH,
offering industry-leading secured messaging technology, which
converges fintech and e-commerce. By incorporating secured
messaging, a digital wallet, and AI-driven microfinancing features
into TGL’s ZCITY Super App, this integration promises a
revolutionary unified platform that elevates every aspect of
digital transactions, delivering a seamless, secure, and highly
efficient user experience.
This partnership marks a significant advancement
towards enhancing financial inclusion across Southeast Asia by
leveraging cutting-edge technology to deliver seamless financial
services benefiting both companies and their users. The initial
phase of this initiative will launch in Malaysia, which has a
population of more than 33 million. This strategic decision grants
VCI Global swift access to a diverse and dynamic user base,
accelerating the Company’s full range of financial services and
reinforcing its strategic position in the Southeast Asia fintech
and e-commerce landscape.
“By leveraging TGL’s expansive user base of 3
million, this strategic partnership not only expands our
geographical reach but also accelerates our deployment of
innovative solutions, promising long-term value for our
shareholders,” said Dato’ Victor Hoo, Group Executive Chairman and
Chief Executive Officer of VCI Global.
About VCI Global Limited
VCI Global is a diversified holding company.
Through its subsidiaries, it focuses on consulting, fintech, AI,
robotics, and cybersecurity. Based in Kuala Lumpur, Malaysia, our
main operations are centered in Asia, with significant visibility
across Asia Pacific, the United States, Europe, and the Middle
East. VCIG primarily offers consulting services in capital markets,
real estate, AI, and technology. In technology businesses, the
company operates a proprietary financing platform that serves
companies and individuals, as well as a secured messaging platform
serving governments and organizations. We also invest, incubate,
accelerate, and commercialize businesses and technologies in AI and
robotics.
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. 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 Limitedenquiries@v-capital.co
VCI Global (NASDAQ:VCIG)
Historical Stock Chart
From May 2024 to Jun 2024
VCI Global (NASDAQ:VCIG)
Historical Stock Chart
From Jun 2023 to Jun 2024