VCI Global Appoints Victor Lee as Executive Director

KUALA LUMPUR, Malaysia, Oct. 21, 2024 (GLOBE NEWSWIRE) -- VCI Global Limited (NASDAQ: VCIG) (Frankfurt: H0T) (“VCI Global” or the “Company”), a diversified holding company with expertise in consulting, fintech, AI, robotics and cybersecurity, is pleased to announce the appointment of its new executive director, Victor Lee, starting November 1, 2024. This strategic transition is designed to strengthen the Company’s leadership and better align with its evolving business landscape and go-forward strategy.

VCI Global is pleased to welcome Mr. Victor Lee to the board as Executive Director, succeeding Marco Baccanello. Mr. Victor Lee is a seasoned private equity professional with 28 years of experience across various asset classes, including private equity, growth capital, leveraged buyouts, distressed assets, venture capital, private credit and cryptocurrency.

Mr. Lee spent the last 19 years at Franklin Templeton, a leading global asset management firm, where he held several senior roles in private equity and alternative strategies. As Managing Director, he was instrumental in developing new initiatives in alternative investments and served as a Partner at Templeton Private Equity Partners and Co-Head of Private Equity for North Asia. Throughout his career at Franklin Templeton, he played a key role in deal origination, structuring, and strategy formulation, with a focus on North Asia, Turkey, and Central Asia, leveraging an extensive network and deep industry resources.

Prior to joining Franklin Templeton in 2005, Mr. Lee worked with Mizuho Securities Asia Limited, CLSA Capital Partners, and UBS Group AG, where he focused on private equity and leveraged buyout transactions across Asia. Following his recent departure from Franklin Templeton in the latter half of 2024, he founded Novacle Ventures Ltd., a firm specializing in distressed and special situations investments globally. Additionally, Mr. Lee has been appointed Vice Chairman of the Global Investment Fund, the investment platform for the World Trade United Foundation, a United Nations consultative NGO.

Mr. Lee holds a bachelor's degree in business administration with a concentration in professional accountancy from the Chinese University of Hong Kong and is a Fellow of the Association of Chartered and Certified Accountants (ACCA), UK.

“Victor Lee’s extensive experience and strategic insights will be invaluable as we navigate the dynamic market landscape,” said Dato’ Victor Hoo, Group Executive Chairman and Chief Executive Officer of VCI Global. “We look forward to his contributions and believe his expertise will play a pivotal role in driving our future growth initiatives.”

About VCI Global Limited

VCI Global is a diversified holding company headquartered in Kuala Lumpur, Malaysia. The Company operates through five core businesses: Capital Market Consultancy, Fintech, Real Estate, AI & Robotics, and Cybersecurity. In Capital Market Consultancy, we provide IPO solutions, investor relations (IR) and public relations (PR) consultancy, and M&A consultancy. Our Fintech arm offers a proprietary financing platform. In Real Estate, we offer specialized real estate consultancy services. The AI business delivers GPU servers, GPU cloud computing services, AI and large language model (LLM) solutions, while the Robotics segment focuses on post-harvest robotics systems. Our Cybersecurity segment provides comprehensive cybersecurity consultancy services and solutions. Committed to fostering innovation and delivering exceptional value, VCI Global has established a strong presence across the Asia-Pacific region, the United States, Europe, and the Middle East, driving growth and transformation on a global scale.

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.

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