KUALA LUMPUR – VCI International Restricted (NASDAQ:VCIG), a diversified holding firm, has been awarded a contract value roughly $24 million to supply AI {hardware} and software program for a knowledge heart challenge in Malaysia. The conditional Letter of Award was issued by Hexatoff Group Sdn. Bhd. for the primary section of a knowledge heart in Enstek Metropolis.
Below the settlement, VCI International’s subsidiary, V-Gallant, will provide 640 items of NVIDIA (NASDAQ:) H200 Tensor Core GPUs as a part of the AI computing system for the information heart. This partnership aligns with Malaysia’s strategic imaginative and prescient to change into a number one hub for AI and digital infrastructure in Southeast Asia.
Hexatoff Group, a turnkey options supplier with the nation’s highest-grade development license, is spearheading this improvement. The challenge is a part of a broader development in Malaysia, which has seen important development within the knowledge heart sector. The Malaysian Funding Growth Authority (MIDA) has permitted 12 knowledge heart funding tasks from 2021 to June 30, 2024, totaling about $21 billion in worth, with six tasks already operational.
The collaboration with Hexatoff Group is predicted to boost Malaysia’s popularity as a key development marketplace for knowledge facilities within the ASEAN area. Main world corporations like Microsoft (NASDAQ:) and Google (NASDAQ:) have made substantial investments in Malaysia, establishing cloud areas and contributing to the nation’s digital transformation.
VCI International’s CEO, Dato’ Victor Hoo, commented on the partnership, highlighting its assist for Malaysia’s innovation and sustainable development. The corporate’s operations span throughout numerous sectors together with capital market consultancy, fintech, actual property, AI & Robotics, and cybersecurity, with a robust presence within the Asia-Pacific area, america, Europe, and the Center East.
This press launch incorporates forward-looking statements concerning the firm’s future development and enterprise prospects. These statements are based mostly on present expectations and are topic to dangers and uncertainties that might trigger precise outcomes to vary materially.
The data for this text is predicated on a press launch assertion.
As well as, VCI International has appointed Victor Lee as its new government director, bringing his 28 years of expertise within the non-public fairness sector to the corporate. The corporate additionally concluded its At-The-Market fairness providing program, managed by H.C. Wainwright & Co., elevating roughly $1.77 million. This termination is predicted to pave the best way for the corporate to discover extra advantageous financing options aligned with its strategic development plans.
Moreover, VCI International secured an $18 million contract to checklist 4 Malaysian corporations on the Nasdaq inventory change. This deal, in collaboration with Legacy Company Advisory Sdn Bhd, is projected to generate revenues of $18 million over the subsequent 14 months.
These developments are a part of VCI International’s ongoing development and transformation journey, which additionally features a secondary itemizing on the Frankfurt Inventory Change, a $10 million share buyback program, and the growth of its AI computing options by way of the combination of NVIDIA H200 Tensor Core GPUs and AI software program.
InvestingPro Insights
VCI International Restricted’s current $24 million contract award aligns with its spectacular monetary efficiency. In line with InvestingPro knowledge, the corporate has proven robust income development, with a 89.38% enhance within the final twelve months as of Q2 2024. This development is mirrored within the firm’s strong gross revenue margin of 70.86%, indicating environment friendly operations and doubtlessly robust pricing energy in its various enterprise segments.
Apparently, VCI International is buying and selling at a low Value / Guide a number of of 0.1, which may recommend that the inventory is undervalued relative to its property. This metric, mixed with the corporate’s profitability over the past twelve months, could current a possibility for traders trying on the long-term potential of VCI International’s various operations and its positioning in development markets like AI and knowledge facilities.
For traders in search of a extra complete evaluation, InvestingPro provides 14 further ideas for VCI International, offering a deeper understanding of the corporate’s monetary well being and market place.
This text was generated with the assist of AI and reviewed by an editor. For extra data see our T&C.
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