Legacy Credit Emerges as a Substantial Shareholder in VCI Global

by - April 25, 2024

Strategic Partnership Set to Expand Financial Services in ASEAN

Legacy Credit Sdn Bhd ("Legacy Credit" or the "Company"), a recognised entity in the financial services sector, is pleased to announce a substantial investment exceeding 5% stake through a private placement in VCI Global Limited (NASDAQ: VCIG) (“VCI Global”). Under this shares placement agreement, Legacy Credit will invest $2.5 million in VCI Global. This positions Legacy Credit as a substantial shareholder, reflecting its strategic commitment to enhancing financial solutions and expanding its influence across the ASEAN region.

VCI Global, known for its expertise in Corporate Finance, has a proven track record of facilitating SMEs in achieving Nasdaq listings, which is critical for companies aiming to tap into international markets. This partnership is expected to leverage Legacy Credit's robust financial network and VCI Global's technical prowess to foster substantial economic growth and innovation.

L-R: Nelson Goh, Director and CEO of Legacy Credit and Dato’ Victor Hoo, Group Executive Chairman and CEO of VCI Global

Mr. Nelson Goh, Director and Chief Executive Officer (CEO) of Legacy Credit commented, “Our significant investment in VCI Global is more than a financial venture; it's a strategic alliance. With this move, we aim to blend VCI’s esteemed capabilities with our innovative approaches to open up new pathways for ASEAN SMEs on global platforms such as Nasdaq.”

Dato’ Victor Hoo, Group Executive Chairman and CEO of VCI Global stated, " We are delighted to welcome Legacy Credit as a valued investor. Their confidence in VCIG underscores our reliability and investment potential. Legacy Credit’s investment will boost our business, accelerate our growth trajectory, and drive long-term value for our stakeholders, demonstrating our commitment for further company growth."

This strategic investment marks a milestone for Legacy Credit, highlighting its commitment to facilitating broader economic opportunities and enhancing its portfolio of financial services. Through this collaboration, Legacy Credit aims to further its vision of delivering innovative solutions that meet the evolving needs of businesses in ASEAN and beyond.

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