KUALA LUMPUR, Malaysia, June 20, 2023 (GLOBE NEWSWIRE) — VCI Global Limited (NASDAQ: VCIG) (“VCI Global”, or the “Company”) announced it has been appointed by Cogia GmbH as the latter’s distributor for the promotion and sale of its communication application known as “Socializer Messenger”.

The “Socializer Messenger” is a game changing, complete communication suite. On top of the basic conventional services being offered by other messaging devices, this AI-based, military grade messenger elevates communications to four additional dimensions namely privacy, security, business and administration. In short, it is a secured all-in-one communication tool with full data encryption and privacy protection.

“Socializer Messenger” is owned and controlled by Cogia GmbH, a software company based in Germany, with extensive experience in software development, in AI, text mining, web monitoring and cyber security.

VCIG is granted an exclusive distributorship within the Southeast Asian countries and non-exclusive distributorship for areas outside Southeast Asia to, amongst others, promote, market and distribute this messenger. For its role, VCIG shall be entitled to a percentage of the revenue generated from the sales of the messenger.

Once formalised, this distributorship is for a period of two years and will automatically be renewed for an additional year.

“Humbled would not truly describe our appreciation to Cogia as we offer our vast networking platform to Cogia to tap into for the distribution of its communication application, in particularly, to this part of the region. This (distributorship) will open up yet another revenue stream for us which will undoubtedly increase VCI Global’s value,” said Dato’ Victor Hoo, Group Executive Chairman and Chief Executive Officer of VCI Global.

“We are excited to leverage on VCI Global’s expertise and extensive network to establish a strong presence, provide tailored AI and secure communication solutions to meet the evolving needs of the Southeast Asian markets,” said Pascal Lauria, Founder and Chief Executive Officer of Cogia GmbH.

About VCI Global Limited

VCI Global is a multi-disciplinary consulting group with key advisory practices in the areas of business and technology. The Company provides business and boardroom strategy services, investor relation services, and technology consultancy services. Its clients range from small-medium enterprises and government-linked agencies to publicly traded companies across a broad array of industries. VCI Global operates solely in Malaysia, with clients predominantly from Malaysia, but also serves some clients from China, Singapore, and the US.

For more information on the Company, please log on to https://v-capital.co/.

About Cogia GmbH

Cogia GmbH is a software company based in Frankfurt am Main, Germany, founded in 2010. The company offers AI-based, fully privacy-compliant solutions in the areas of secure communications, cybersecurity, Big Data Analytics and web monitoring. The customer portfolio includes major companies from many industries, including Volkswagen, BMW, IPSOS, Lufthansa and the government of an EU state.

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. 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. 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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