Half Year 2024 VCI Global Ltd Earnings Call

Speaker Change: Good morning everyone and welcome to VCI Global first half 2024 earnings conference call Joining me today to discuss our results are Victor Hu our group executive chairman and CEO

Operator: for earnings conference call. Joining me today to discuss our results are Victor Hu, our Group Executive Chairman and CEO, Marco Baccanello, Executive Director, and Zifeng Ang, our CFO. Before we begin, I would like to take this opportunity to remind you that our remarks today may contain forward-looking statements, which are subject to future events and uncertainties. Statements that are not historical facts, including but not limited to statements about the company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and our actual results may differ materially from these forward-looking statements.

Speaker Change: Marco Baccanello, Executive Director, and Zifeng Ang, our CFO. Before we begin, I would like to take this opportunity to remind you that our remarks today may contain forward-looking statements, which are subject to future events and uncertainties.

Operator: All forward-looking statements should be considered in conjunction with the cautionary statements in our earnings release and the risk factors included in our filings with the SEC. This presentation also includes certain non-GAAP financial measures which we believe can be helpful in evaluating our performance. However, those measures should not be considered substitutes for the comparable GAP measures.

Speaker Change: Statements that are not historical facts, including, but not limited to, statements about the company's beliefs and expectations are forward-looking statements.

Speaker Change: Forward-looking statements involve inherent risks and uncertainties and our actual results may differ materially from these forward-looking statements.

Speaker Change: All forward-looking statements should be considered in conjunction with the cautionary statements in our earnings release and the risk factors included in our filings with the SEC.

Speaker Change: This presentation also includes certain non-GAAP financial measures which we believe can be helpful in evaluating our performance.

Speaker Change: However, those measures should not be considered substitutes for the comparable GAAP measures. The accompanying reconciliation information related to those non-GAAP and GAAP measures can be found in our earnings press release issued earlier today.

Operator: The accompanying reconciliation information related to those non-GAP and GAP measures can be found in our earnings press release issued earlier today. Without further ado, I will now turn the call over to our Group Executive Chairman and CEO, Victor Hu. Victor, the call is yours.

Speaker Change: Without further ado, I will now turn the call over to our Group Executive Chairman and CEO, Victor Hu. Victor, the call is yours.

Victor Hu: Thank you and good morning everyone. I appreciate you joining us today to review our financial results for the first half of 2024. It's been a remarkable start to the year with strong momentum and robust business performance. I'm particularly pleased with the progress we have made. Despite a challenging macroeconomic environment, we've delivered solid results in the first half of the year.

Victor Hu: Thank you and good morning everyone. I appreciate you joining us today to review our financial results for the first half of 2024. It's been a remarkable start to the year with strong momentum and robust business performance.

Speaker Change: I am particularly pleased with the progress we have made. Despite a challenging macroeconomic environment, we have delivered solid results in the first half of the year.

Victor Hu: The growth reflects the hard work and exceptional performance across all our business segments. It underscores VCIG's continual excellence as a leading firm in business strategy consulting and technology business. In our business strategy consulting segment, our ability to consistently deliver outstanding results highlights our deep market understanding and commitment to guiding companies through the complexities of going public. This success is a testament to our strategic vision and dedication to excellence, further establishing VCIG as a key player in the industry.

Speaker Change: The growth reflects the hard work and exceptional performance across all our business segments. It underscores VCIG's continual excellence as a leading firm in business strategy consulting and technology business.

Speaker Change: In our business strategy consulting segment, our ability to consistently deliver outstanding results highlights our deep market understanding and commitment to guiding companies through the complexities of going public.

Speaker Change: This success is a testament to our strategic vision and dedication to excellence, further establishing BCIG as a key player in the industry.

Victor Hu: Turning to our technology development, solutions and consultancy segment, I am proud to share that we have made significant strides in AI innovation. We have secured an exclusive distributorship from Woozano for its AI-powered post-harvest robotic packing system in Malaysia, marking a pivotal moment for us.

Speaker Change: Turning to our technology development solutions and consultancy segment, I am proud to share that we have made significant strides in AI innovation. We have secured an exclusive distributorship from Woodzano for its AI-powered post-harvest robotic packing system in Malaysia.

Victor Hu: Additionally, we strengthened our capabilities by acquiring an AI-based secure messaging platform from Cordia GmbH. These strategy acquisitions and partnerships align with our commitment to innovation, enriching our technological offerings. Building on our robust performance and expanded capabilities, VCIG is poised for exciting growth opportunities. In line with this growth, we have achieved a significant milestone by completing our secondary listing on the Frankfurt Stock Exchange. This strategic move highlights and enhances our global footprint and broadens our shareholder base to include European investors.

Speaker Change: marking a pivotal moment for us. Additionally, we strengthened our capabilities by acquiring an AI-based secure messaging platform from Cordia GmbH. These strategy acquisitions and partnerships align with our commitment to innovation, enriching our technological offerings.

Speaker Change: Building on our robust performance and expanded capabilities, VCIG is poised for exciting growth opportunities. In line with this growth, we have achieved a significant milestone by completing our secondary listing on the Frankfurt Stock Exchange.

Speaker Change: This strategic move highlights and enhances our global footprint and broadens our shareholder base to include European investors.

Victor Hu: We expect continued growth and success, leveraging our market position, diverse services and talented teams to seize emerging opportunities. Additionally, our Board of Directors has authorised the implementation of a shared buyback programme of up to $10 million for our outstanding common stock over the next two years.

Speaker Change: We expect continued growth and success, leveraging our market position, diverse services and talented teams to seize emerging opportunities.

Speaker Change: Additionally, our Board of Directors has authorised the implementation of a shared buy-back programme of up to $10 million for our outstanding common stock over the next two years.

Victor Hu: This strategic decision highlights VCIG's impressive growth trajectory and reflects our strong confidence in our future potential. It also reaffirms our commitment to delivering sustained value to our shareholders. Now, I'll turn the call over to Mr Eng to provide further details on our financial performance. Thank you Victor for the introduction.

Speaker Change: This strategic decision highlights VCIG's impressive growth trajectory and reflects our strong confidence in our future potential. It also reaffirms our commitment to delivering sustained value to our shareholders.

Speaker Change: now i'll turn the call to mr an to provide further details on our financial performance

Zifeng Ang: This is Ang, the CFO of BCIG. Thank you for joining us today for BCIG's first HALF 2024 Earnings Call. I'm honoured to provide you with an overview of our financial performance. We have achieved an impressive 44% increase in revenue, totaling $913.7 million and a 25% increase in net income, reaching $5.4 million compared to the same period last fiscal year. This remarkable growth highlights the success of our business strategy and the dedication and hard work of our team.

Speaker Change: Thank you, Victor, for the introduction. This is Lang, the CFO of BCIG.

Lang: Thank you for joining us today for BCIG's first half 2024 earnings call. I'm honoured to provide you with an overview of our financial performance.

Lang: We have achieved an impressive 44% increase in revenue, totalling $913.7 million and a 25% increase in net income, reaching US$5.4 million compared to the same period last fiscal year. This remarkable growth highlights the success of our business strategy and the dedication and hard work of our team. Let's delve deeper into our revenue.

Zifeng Ang: Let's delve deeper into our revenue. The substantial increase in revenue was driven primarily by the exceptional performance of our business strategy consultancy segment. Revenue from this segment surged by 151% from $4.5 million in the first half of 2023 to $11.2 million in the first half of 2024. As of June 30, 2024, we are advising nearly 15 clients who are in the process of going public on NASDAQ. Additionally, our fintech segment saw impressive growth with revenue increasing by 183% to $0.7 million compared to $0.2 million during the same period last fiscal year. Alongside our impressive top-line growth, we have also achieved significant improvement in profitability. Through disciplined cost management, we experienced a substantial 26% increase in EBITDA, reaching $5.7 million.

Lang: The substantial increase in revenue was driven primarily by the exceptional performance of our business strategy consultancy segment. Revenue from this segment surged by 151% from $4.5 million in the first half of 2023 to $11.2 million in the first half of 2024. As of June 30, 2024, we are advising nearly 15 clients who are in the process of going public on NASDAQ. Additionally, our fintech segment saw impressive growth, with revenue increasing by 183% to $0.7 million compared to $0.2 million during the same period last fiscal year.

Lang: Alongside our impressive top-line growth, we have also achieved significant improvement in profitability.

Lang: Through disciplined cost management, we experienced a substantial 26% increase in EBITDA, reaching $5.7 million.

Marco Baccanello: Overall, we are pleased with our revenue growth and profitability. I will now hand it over to Marco Baccanello, our Executive Director, to wrap up today's call. Thank you Ang and Victor. Good morning.

Lang: Overall, we are pleased with our revenue growth and profitability. I will now hand it over to Marco Baccanello, our Executive Director, to wrap up today's call.

Marco Baccanello: I am Marco Baccanello, Executive Director at VCIG and it's truly exciting to be part of this outstanding team. I'm eager to contribute towards our continued success and growth together. In closing, I want to extend my sincere gratitude to our investors, employees and stakeholders for their unwavering support. Our first half 2024 results reflect VCIG's commitment to delivering success. We remain focused on driving sustainable growth and enhancing long-term shareholder value. Thank you. That will conclude our call for today on behalf of the company and its...

Lang: Thank you Ang and Victor. Good morning. I am Marco Baccanello, Executive Director at VCIG and it's truly exciting to be part of this outstanding team.

Speaker Change: I'm eager to contribute towards our continued success and growth together. In closing, I want to extend my sincere gratitude to our investors.

Speaker Change: employees and stakeholders.

Speaker Change: for their unwavering support. Our first half 2024 results reflect VCIG's commitment to delivering success. We remain focused on driving sustainable growth and enhancing long-term shareholder value. Thank you.

Operator: for Earnings Conference Call.

Operator: for Earnings Conference Call.

Operator: Joining me today to discuss our results are Victor Hu, our Group Executive Chairman and CEO, Marco Bakonello, Executive Director, and Zifong Ang RCFL.

Operator: Joining me today to discuss our results are Victor Hu, our Group Executive Chairman and CEO, Marco Bakonello, Executive Director, and Zifong Ang RCFL. Before we begin, I would like to take this opportunity to remind you that our remarks today may contain forward-looking statements, which are subject to future events and uncertainties. Statements that are not historical facts, including but not limited to statements about the company's beliefs and expectations are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and our actual results may differ materially from these forward-looking statements.

Operator: Before we begin, I would like to take this opportunity to remind you that our remarks today may contain forward-looking statements, which are subject to future events and uncertainties.

Operator: Statements that are not historical facts, including but not limited to statements about the company's beliefs and expectations are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and our actual results may differ materially from these forward-looking statements. All forward-looking statements should be considered in conjunction with the cautionary statements in our earnings release, and the risk factors included in our findings with the SEC.

Operator: All forward-looking statements should be considered in conjunction with the cautionary statements in our earnings release, and the risk factors included in our findings with the SEC. This presentation also includes certain non-gap financial measures which we believe can be helpful in evaluating our performance. However, those measures should not be considered substitutes for the comparable gap measures.

Operator: This presentation also includes certain non-gap financial measures which we believe can be helpful in evaluating our performance. However, those measures should not be considered substitutes for the comparable gap measures.

Operator: The accompanying reconciliation information related to those non-gap and gap measures can be found in our earnings press release issued earlier today.

Operator: The accompanying reconciliation information related to those non-gap and gap measures can be found in our earnings press release issued earlier today.

Operator: Without further ado, I will now turn the call over to our Group Executive Chairman and CEO, Victor Hu.

Victor Hu: Without further ado, I will now turn the call over to our Group Executive Chairman and CEO, Victor Hu. Victor, the college yours. Thank you.

Victor Hu: Victor, the college yours.

Victor Hu: Thank you.

Victor Hu: Good morning, everyone.

Victor Hu: Good morning, everyone. I appreciate you joining us today to review our financial results for the first half of 2024. It's been a remarkable start of the year with strong momentum aerobus business performance. I'm absolutely pleased with the progress we have made. This was a challenging macroeconomic environment we've delivered solid results in the first half of the year. The growth reflects the hard work and exceptional performance across all our business segments. In underscores, we see ideas continue excellent as a leading firm in business strategy consulting and technology business.

Victor Hu: I appreciate you joining us today to review our financial results for the first half of 2024. It's been a remarkable start of the year with strong momentum aerobus business performance.

Victor Hu: I'm absolutely pleased with the progress we have made.

Victor Hu: This was a challenging macroeconomic environment we've delivered solid results in the first half of the year.

Victor Hu: The growth reflects the hard work and exceptional performance across all our business segments.

Victor Hu: In underscores, we see ideas continue excellent as a leading firm in business strategy consulting and technology business.

Victor Hu: In our business strategy consulting segment, our ability to consistently deliver outstanding results highlights our deep market understanding and commitment to guiding companies through the complexities of going public.

Victor Hu: In our business strategy consulting segment, our ability to consistently deliver outstanding results highlights our deep market understanding and commitment to guiding companies through the complexities of going public. This success is a testament to our strategic vision and dedication to excellence. Further establishing BCIU as a key player in the industry.

Victor Hu: This success is a testament to our strategic vision and dedication to excellence.

Victor Hu: Further establishing BCIU as a key player in the industry.

Victor Hu: Turning to our technology development solutions and consultancy segments, I'm proud to share that we are making significant strides in AI innovation.

Victor Hu: Turning to our technology development solutions and consultancy segments, I'm proud to share that we are making significant strides in AI innovation. We're secure as exclusive distributorship from Woodano or its AI power post-harvest robotic packing system in Malaysia.

Victor Hu: We're secure as exclusive distributorship from Woodano or its AI power post-harvest robotic packing system in Malaysia.

Victor Hu: Marking a pivotal moment for us.

Victor Hu: Marking a pivotal moment for us. Additionally, we strengthen our capabilities by acquiring an AI-based pure messaging platform from Cordia GmbH. This strategy acquisitions a partnership aligned with our commitment to innovation and reaching our technological offerings.

Victor Hu: Additionally, we strengthen our capabilities by acquiring an AI-based pure messaging platform from Cordia GmbH.

Victor Hu: This strategy acquisitions a partnership aligned with our commitment to innovation and reaching our technological offerings.

Victor Hu: Building on our robust performance and expanded capability, BCIU is a point for exciting growth opportunities.

Victor Hu: Building on our robust performance and expanded capability, BCIU is a point for exciting growth opportunities.

Victor Hu: In line with this growth, we have achieved a significant milestone by completing our second-release thing on our Frankfurt Stock Exchange. This strategy moves, highlights our global footprint and broadens our shareholder base to include European investors.

Victor Hu: In line with this growth, we have achieved a significant milestone by completing our second-release thing on our Frankfurt Stock Exchange. This strategy moves, highlights our global footprint and broadens our shareholder base to include European investors. We expect continued growth as a success, leveraging our market position, diverse services, and talented teams to seize emerging opportunities.

Victor Hu: We expect continued growth as a success, leveraging our market position, diverse services, and talented teams to seize emerging opportunities.

Victor Hu: Additionally, our ball of directors has authorized the implementation of a share buyback program of up to 10 million of our outstanding comments for over the next two years.

Victor Hu: Additionally, our ball of directors has authorized the implementation of a share buyback program of up to 10 million of our outstanding comments for over the next two years. This strategy decision highlights with BCIU's impressive growth trajectory and reflects our strong confidence in our future potential. It also reaffirms our commitment to delivering sustained value to our shareholders.

Victor Hu: This strategy decision highlights with BCIU's impressive growth trajectory and reflects our strong confidence in our future potential.

Zifong Ang: Now, I'll put the call over to Mr. Eng to provide further details on our financial performance. Thank you for joining us today for VCI G's first half 2024 early call and order to provide you with an overview of our financial performance. We have achieved an impressive 44% increase in revenue totaling 9.13.7 million and a 25% increase in netting up, reaching 5.4 million USD compared to the same period last fiscal year.

Victor Hu: It also reaffirms our commitment to delivering sustained value to our shareholders.

Zifong Ang: Now, I'll put the call over to Mr. Eng to provide further details on our financial performance.

Zifong Ang: This remarkable drop highlights the success of our business strategy and the dedication and hard work of our team. Let's look at people into our revenue. The substantial increase in revenue was driven primarily by the exceptional performance of our business strategy consultancy segment. Revenue from this segment search by 151% from 4.5 million in the first half of 2023 to 11.2 million in the first half of 2024. As of June 30, 2024, we are advising nearly fitting clients why the process of going public on netting. Additionally, our feedback segment saw impressive growth with revenue increasing by 100 and 3% to 0.7 million compared to 0.2 million during the same period last fiscal year.

Zifong Ang: Alongside our impressive top-line growth, we have also achieved significantly improvement in profitability. Through discipline cost management, we experienced a substantial 26% increase in EBITDA, reaching 5.7 million. Overall, we are pleased with our revenue growth and profitability.

Zifong Ang: We are now headed over to Mako Bakanelo as a new sector to rev up to their score. Thank you, Ang and Victor.

Zifong Ang: Thank you for joining us today for VCI G's first half 2024 early call and order to provide you with an overview of our financial performance.

Marco Bakanelo: Good morning. I am Marco Bakanelo Executive Director at BCIG, and it's truly exciting to be part of this outstanding team. I'm eager to contribute towards our continued success and growth together, including I want to extend my sincere gratitude to our investors, employees and stakeholders for their unwavering support. Our first half 2024 results reflect BCIG's commitment to delivering success. We remain focused on driving sustainable growth and enhancing long-term shareholder value.

Marco Bakanelo: Thank you.

Zifong Ang: We have achieved an impressive 44% increase in revenue totaling 9.13.7 million and a 25% increase in netting up, reaching 5.4 million USD compared to the same period last fiscal year.

Zifong Ang: This remarkable drop highlights the success of our business strategy and the dedication and hard work of our team.

Zifong Ang: Let's look at people into our revenue.

Zifong Ang: The substantial increase in revenue was driven primarily by the exceptional performance of our business strategy consultancy segment. Revenue from this segment search by 151% from 4.5 million in the first half of 2023 to 11.2 million in the first half of 2024.

Zifong Ang: As of June 30, 2024, we are advising nearly fitting clients why the process of going public on netting.

Operator: That will conclude our call for today on behalf of the company and its representatives.

Zifong Ang: Additionally, our feedback segment saw impressive growth with revenue increasing by 100 and 3% to 0.7 million compared to 0.2 million during the same period last fiscal year.

Operator: We want to say thank you for joining us.

Zifong Ang: Alongside our impressive top-line growth, we have also achieved significantly improvement in profitability. Through discipline cost management, we experienced a substantial 26% increase in EBITDA, reaching 5.7 million.

Zifong Ang: Overall, we are pleased with our revenue growth and profitability.

Marco Bakonello: We are now headed over to Mako Bakanelo as a new sector to rev up to their score.

Operator: Goodbye.

Marco Bakonello: Thank you, Ang and Victor.

Marco Bakonello: Good morning.

Marco Bakonello: I am Marco Bakanelo Executive Director at BCIG, and it's truly exciting to be part of this outstanding team.

Marco Bakonello: I'm eager to contribute towards our continued success and growth together, including I want to extend my sincere gratitude to our investors, employees and stakeholders for their unwavering support.

Marco Bakonello: Our first half 2024 results reflect BCIG's commitment to delivering success.

Marco Bakonello: We remain focused on driving sustainable growth and enhancing long-term shareholder value.

Marco Bakonello: Thank you.

Operator: That will conclude our call for today on behalf of the company and its representatives.

Operator: We want to say thank you for joining us.

Operator: Goodbye.