KUALA LUMPUR: Legacy Credit Sdn Bhd has disclosed a US$2.5 million investment for a 5.0 per cent stake via a private placement in VCI Global Ltd.
The move will make Legacy Credit a substantial shareholder of VCI Global, demonstrating its commitment to bolstering financial offerings and extending its presence throughout Asean.
"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.
"The investment marks a milestone for Legacy Credit, highlighting its commitment to facilitating broader economic opportunities and enhancing its portfolio of financial services.
Through the partnership, Legacy Credit aims to advance its goal of providing innovative solutions tailored to the changing requirements of businesses in the Asean region and beyond.
Legacy Credit director and chief executive officer Nelson Goh emphasised that the substantial investment in VCI Global represents not just a financial endeavour, but rather a strategic partnership.
"We aim to blend VCI's esteemed capabilities with our innovative approaches to open up new pathways for Asean small and medium enterprises (SMEs) on global platforms such as Nasdaq," he said.
VCI Global group executive chairman and chief executive officer Datuk Victor Hoo said Legacy Credit's confidence in VCI Global highlights its reliability and investment prospects.
"We are delighted to welcome Legacy Credit as a valued investor. Their investment will boost our business, accelerate our growth trajectory, and drive long-term value for our stakeholders, demonstrating our commitment for further company growth," he added.