Total Equity Increases 19.2% to US$114.70 Million as Company Prioritizes Expansion Across GPU Computing and AI Model Service

KUALA LUMPUR, Oct. 16, 2026 (GLOBE NEWSWIRE) -- VCI Global Limited (NASDAQ: VCIG) (“VCI Global” or the “Company”), today announced its unaudited financial results for the six months ended June 30, 2026 (“1H2026”), as it advances its strategic transition toward AI computing, AI token services and infrastructure-related opportunities.

The first half of 2026 marked a significant transition for VCI Global following the separation and divestment of its capital markets consultancy, fintech and other non-core businesses. The Company is now concentrating its resources and capital allocation on building AI computing capabilities, commercializing AI services and developing infrastructure opportunities across the AI value chain.

At the same time, VCI Global is pursuing complementary opportunities in renewable energy, energy storage and carbon assets as it works toward a broader infrastructure model connecting AI, computing, energy and sustainability.

• Total equity increased 19.2% to US$114.70 million as of June 30, 2026, compared with US$96.21 million as compared to December 31, 2025.
• Total liabilities declined 17.7% to US$17.03 million from US$20.69 million over the same period.
• Cash and bank balances rose more than fivefold to US$5.19 million from US$0.94 million, supported by financing activities and the disposal of an investment.
• Revenue was US$2.56 million, compared with US$18.74 million in 1H2025, reflecting the Group’s portfolio restructuring and changes in its operating profile.
• VGAIN Compute was launched, providing customers with a platform to purchase AI tokens and access multiple supported large language models, including OpenAI GPT, Kimi, Meta Llama and Qwen.
• Acquisition of the controlling stake in PT Fine Carbon Credit Indonesia (FCCI), an Indonesian carbon asset platform associated with approximately 241,000 hectares of forestry areas across four project sites.
   

“The first half of 2026 represents an important inflection point for VCI Global as we reposition the Company around AI infrastructure and scalable technology services,” said Ang Zhi Feng, Chief Financial Officer of VCI Global. “While revenue declined as a result of the transition, we ended the period with higher total equity, lower liabilities and an increased cash balance. Our priority is to manage liquidity carefully and allocate capital to initiatives with clear commercial potential as we advance our AI services and infrastructure strategy.”

REVENUE REFLECTS PORTFOLIO RESTRUCTURING

The first half of 2026 represents a fundamental change in VCI Global’s operating profile.

The Company has completed the separation and divestment of its capital markets consultancy, fintech, and other non-core businesses, reducing exposure to businesses that were not aligned with its longer-term technology and infrastructure strategy.

Revenue for 1H2026 was US$2.56 million, compared with US$18.74 million in 1H2025. The decrease primarily reflects businesses that have since been separated or divested, along with the transition to a more focused AI infrastructure and technology operating model.

 

	Six months ended June 30, 2026
	2026		2025		Change
	USD		USD		%
Revenue from Business Strategy Consultancy	-		8,086,215		-100	%
Revenue from Technology Development, Solutions and	2,050,000		9,342,691		-78.06	%
Consultancy
Interest Income	-		1,272,227		-100	%
Others	505,411		43,133		1,071.75	%
Total Revenue	2,555,411		18,744,266		-86.37	%

The Company recorded a net loss of US$8.43 million in 1H2026, compared with net profit of US$4.66 million in 1H2025. The change reflects the Company’s revised operating profile following portfolio restructuring, together with changes in revenue and expenses. The Company continues to develop its AI and technology initiatives, with future performance dependent on commercial adoption and execution.

Cost of services declined 97.1% to US$104,641 from US$3.66 million in the prior-year period. The reduction primarily reflects the divestment of the business consultancy subsidiary in 2025 and the completion of several large-scale technology projects in the prior period.

Consultant fees were nil, compared with US$251,622 in 1H2025, following the divestment of the business consultancy subsidiary. IT expenses decreased to US$55,767 from US$3.29 million, as new technology projects remained in their initial rollout stages during the period.

These lower expenses reflect the Group’s changed business structure and project cycle. They should not, on their own, be interpreted as evidence of improved profitability, as the Company’s financial performance will also depend on future revenue generation and the costs associated with scaling its new businesses.

 

	2026		2025		Change
	USD		USD		%
Consultant Fee	-		251,622		-100	%
IT Expenses	55,767		3,291,321		-98.31	%
Others	48,874		120,114		-59.31	%
Total	104,641		3,663,057		-97.14	%

CASH POSITION AND CAPITAL ALLOCATION

As of June 30, 2026, total equity increased 19.2% to US$114.70 million from US$96.21 million at December 31, 2025, while total liabilities declined 17.7% to US$17.03 million from US$20.69 million.

Cash and bank balances increased to US$5.19 million from US$0.94 million at year-end 2025. The increase was supported by financing activities and the disposal of an investment.

The Company intends to prioritize capital deployment based on commercial demand, financing availability and project readiness, with investment priorities spanning AI Infrastructure, GPU computing and related infrastructure.

VGAIN COMPUTE: FROM AI ACCESS TO AI CONSUMPTION

VCI Global announced the launch of VGAIN Compute on October 6, 2026, through its subsidiary V Gallant Limited.

The platform enables users to purchase AI tokens to access supported large language models, including OpenAI GPT, Kimi, Meta Llama and Qwen. Announced applications include content generation, coding, research, business applications and workflow automation.

The platform introduces a customer-facing offering through which VCI Global can pursue revenue from AI services. Its token-based model provides a mechanism for charging users for access to supported AI capabilities.

The broader market opportunity is expanding as businesses move AI from experimentation into production. Gartner forecasts worldwide AI-optimised IaaS spending of US$42.3 billion in 2026, rising to US$66.1 billion in 2027. Gartner also estimates that global spending on AI inference infrastructure will reach US$23.3 billion in 2026, exceeding the US$19 billion forecast for AI model training infrastructure.

The Company’s next priorities include expanding platform usage, evaluating additional models and developing enterprise and developer applications.

DEVELOPING AN INTEGRATED POWER–AI–CARBON ECOSYSTEM

VCI Global’s longer-term infrastructure strategy extends beyond computing capacity to the resources required to support the expansion of AI infrastructure, including electricity generation, solar power, energy storage and data center operations.

The Company intends to develop an integrated infrastructure model designed to connect energy supply with computing demand, with the objective of improving power availability, supporting scalable AI computing and enhancing long-term operating efficiency.

As AI workloads become increasingly compute-intensive, access to reliable and scalable power is becoming an increasingly important consideration in the development of data center and GPU infrastructure. VCI Global believes that combining computing infrastructure with energy development can provide greater control over critical infrastructure requirements as its AI businesses expand.

LONGER-TERM OPPORTUNITIES IN ENERGY AND FOREST CONSERVATION

VCI Global announced that V Gallant had entered into a definitive agreement to acquire a 70% stake in PT Fine Carbon Credit Indonesia (FCCI), a platform associated with approximately 241,000 hectares of forestry areas across four project sites in Indonesia.

The proposed acquisition provides a potential basis for developing forestry-linked carbon credit projects, subject to transaction completion and applicable technical, legal and regulatory requirements.

The voluntary carbon market offers a potential monetization route for eligible forestry projects, but credit prices vary significantly according to project type, certification standard, carbon integrity, vintage, and buyer demand.

According to Ecosystem Marketplace’s 2025 State of the Voluntary Carbon Market report, based on 2024 transactions, the average price was approximately US$14.97 per tonne of CO₂ equivalent for improved forest management credits and US$20.44 for tree-planting and restoration credits. Some premium credits may command prices above US$50, depending on their characteristics and market conditions.

COMMERCIAL PRIORITIES AND INVESTOR MILESTONES

VCI Global’s initiatives cover several potential sources of revenue, each with different development requirements.

• AI services: VGAIN Compute provides a live platform through which the Company can pursue paid AI model access. Commercial performance can be assessed through active paying users, token consumption, revenue and service delivery costs.
• GPU cloud services: VGAIN Cloud is intended to support demand for AI computing. Relevant milestones include infrastructure deployment, available GPU capacity, customer contracts, utilisation and revenue generated from computing services.
• AI data center infrastructure: Galatron AI Factory’s initial planned 5MW deployment provides a defined development milestone within the broader 500MW roadmap. Progress will depend on site readiness, power availability, funding and customer demand.
• Energy infrastructure: Potential revenue opportunities depend on the development and ownership of specific projects, available generation or storage capacity, and contracted demand.
• Carbon assets: FCCI represents a potential forestry-linked carbon credit opportunity. Key milestones include transaction completion, project qualification, credit issuance and actual sales.
   

These indicators provide a clearer basis for evaluating the Company’s progress than global market growth alone.

OUTLOOK

The global expansion of AI infrastructure presents opportunities across model access, cloud computing, data center development and supporting energy infrastructure. VCI Global has announced initiatives across these areas, beginning with the launch of VGAIN Compute and extending to planned computing infrastructure and complementary asset opportunities.

The Company’s ability to benefit from these markets will depend on execution and commercial validation. Market forecasts indicate the scale of industry investment, but they do not establish VCI Global’s future revenue, market share or profitability.

VCI Global intends to progress its initiatives in phases, with the commercial outcomes of each business dependent on customer demand, operating performance, capital availability, project milestones and applicable regulatory requirements.

“Our ambition is to build an AI infrastructure business that connects customer demand, computing capacity and the energy required to support it,” said Victor Hoo, Group Chief Executive Officer and Executive Chairman of VCI Global. “VGAIN Compute provides a commercial entry point for building customer relationships and recurring usage, while our infrastructure strategy creates opportunities to participate more deeply in the AI value chain. Over the longer term, we see the potential to develop an integrated model in Asia that brings together AI computing, energy and forest conservation.”

“We intend to demonstrate the value of this transition through execution. That means growing customer usage, bringing productive computing capacity into service and converting commercial opportunities into revenue. Those are the milestones that will define the next phase of VCI Global.” He added.

Management will continue to emphasize commercial validation, disciplined capital allocation and phased execution. The pace of development and contribution from individual initiatives will depend on customer demand, funding, regulatory considerations and project milestones.

About VCI Global Limited

VCI Global Limited is transforming into an AI infrastructure and technology group focused on AI computing, GPU infrastructure and AI token services through its businesses, including V Gallant and VGAIN Compute. Following the spin-off and divestment of its capital markets consultancy, fintech and other non-core businesses, the Company is sharpening its focus on AI-driven growth while exploring complementary opportunities in renewable energy, power generation, energy storage and forest conservation, including potential carbon credit initiatives. Through these interconnected areas, VCI Global aims to build a scalable and sustainable infrastructure platform supported by disciplined capital allocation and long-term value creation.

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. These forward-looking statements are based only on our current beliefs, expectations, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict and many of which are outside of our control. Therefore, you should not rely on any of these forward-looking statements. 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:

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