VCI Global Limited announced that its Chief Executive Officer, Dato’ Victor Hoo, has significantly increased his shareholding in the Company under the recent share buyback program announced recently.
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 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. The results were aligned with its 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 continue.
