Legacy Credit becomes major shareholder in VCI Global

KUALA LUMPUR: Legacy Credit Sdn Bhd, a recognised entity in the financial services sector, announced a substantial investment exceeding 5% stake through a private placement in VCI Global Ltd (VCIG). Under this shares placement agreement, Legacy Credit will invest US$2.5 million (RM12 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.

Legacy Credit director and CEO Nelson Goh 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.”

VCI Global executive chairman and CEO Datuk Victor Hoo 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.”

This strategic investment marks a milestone for Legacy Credit, highlighting its commitment to facilitating broader economic opportunities and enhancing its portfolio of financial services.