KUALA LUMPUR, Malaysia, May 15, 2023 (GLOBE NEWSWIRE) -- VCI Global Limited (NASDAQ: VCIG) (“VCI Global”, or the “Company”) today announced it has signed a Partnership Agreement with Horizon Fintex Advisors, Ltd. (“HFA”), a registered sponsor advisor to Upstream, a MERJ Exchange securities market. This HFA partnership works to add immense value to VCI Global’s expanding business advisory practice by offering VCI clients a streamlined path to dual list on Upstream’s next generation market and reach a digital-first investor base.
HFA comes to VCI Global with an impressive track record of success in listing companies on Upstream, which has allowed them to develop a valuable network of investors and issuers. This network, combined with VCI Global’s innovative consulting and advisory services, is expected to lead the Company to even greater heights.
Commercially, if a VCI Global client that’s listed on the Bursa Malaysia Securities Berhad (“Bursa Malaysia”), or any other global stock exchange, lists on Upstream, then VCI Global will share in HFA’s sponsor advisory listing fee, and VCI Global may also share in IPO fees for its clients that raise capital on Upstream.
Upstream is a regulated securities exchange that offers primary listings as well as dual listing opportunities to NASDAQ, NYSE and over the counter (OTC) market issuers as well as international stock exchanges including Bursa Malaysia, EURONEXT, ASX, NSX, TSX, and CSE. An Upstream listing opens issuers to a global, digital first, investor-base that can trade U.S. and international securities using digital payment rails, credit card, debit card, PayPal, or USD.
Uniquely, Upstream investors are directly connected to the exchange with their Upstream app, which eliminates the need for a stockbroker middleman. Listing on Upstream brings public price discovery on a secondary trading market operating a transparent, blockchain driven, orderbook where everyone sees level-2 bids and offers. Upstream does not allow predatory manipulative activities including short selling, stock lending, wash trades, layering or spoofing that may negatively impact other capital markets. Upstream traders experience real-time trades 20 hours a day, 5 days a week, peer-to-peer, instant settlement, with no market makers, and no payment for order flow.
In addition to dual listing, Upstream issuers may also take advantage of web3 investor engagement opportunities including a digital coupon program which aims to turn shareholders into customers and customers into shareholders. Digital coupons can offer rewards, product discounts and services that can be redeemed or even traded to invite new customers in.
“We are excited to partner with HFA to bring global liquidity and cross border price discovery to our existing consultancy business clients and integrate Upstream’s innovative NFT strategies to the clients of our pending acquisition of LOCUS-T,” said Dato Victor Hoo, Chairman and Group Director of VCI Global.
“Upstream’s trading app is free to download and invites investors of all levels to trade securities and NFTs from anywhere at any time. Our app offers real-time stock quotes and instant trade settlement, and can be funded with local currency using PayPal, credit card, USDC or bank transfer. We are thrilled to have partnered with VCI Global in listing their Malaysian clients on Upstream and expanding their investor base,” said Brian Collins, Managing Director, Horizon Fintex Advisors.
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.
Upstream, a MERJ Exchange market (https://merj.exchange), is a fully regulated global stock exchange for digital securities. Powered by Horizon Fintex's (https://horizonfintex.com) proprietary matching engine technology, the exchange enables investors to trade shares in dual listed companies, NFTs, shares in IPOs, crowdfunded companies, U.S. & Int'l. equities, and celebrity ventures directly from the app: https://upstream.exchange. Interested issuers can reach the team at firstname.lastname@example.org.
MERJ Exchange (MERJ) operates Upstream as a fully regulated and licensed integrated securities exchange, clearing system and depository for digital and non-digital securities. MERJ is an affiliate of the World Federation of Exchanges (WFE), recognized by HM Revenue and Customs UK, a full member of the Association of National Numbering Agencies (ANNA) and a Qualifying Foreign Exchange for OTC Markets in the US. MERJ is also a member of the Sustainable Stock Exchanges Initiative. Visit https://merj.exchange/ to learn more.
Horizon Fintex Advisors (“HFA”) is a wholly owned subsidiary of Horizon Globex GmbH, a fintech company that builds and powers global securities exchanges with an integrated suite of software for compliant issuance, management, and secondary trading of securities. Our in-house solutions combine Wall Street and Silicon Valley to power the next generation of securities offerings and trading in the U.S. and globally. Learn more at https://horizonfintex.com/. HFA is registered as a Sponsor Advisor with MERJ Exchange Limited (“Exchange”). HFA’s primary responsibility and duty of care as a Sponsor Advisor is owed to the Exchange and it must ensure that the admission of a company to MERJ and its conduct following admission do not impact adversely on the reputation or integrity of the Exchange. For a Sponsor Advisor, the reputation and integrity of the market are of paramount importance.
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.
This press release shall not constitute an offer to sell securities or the solicitation of an offer to buy securities in any jurisdiction where such offer or solicitation is not permitted.
NFTs have no royalties, equity ownership, or dividends. NFTs are for utility, collection, redemption or display purposes only. Anyone may buy and sell NFTs on Upstream.
U.S. or Canadian-based citizen or permanent are not currently able to deposit, buy, or sell securities on Upstream at this time without being introduced by a licensed broker dealer. Note that U.S. or Canadian-based investors include those U.S. or Canadian citizens who may be domiciled overseas.
Issued by Imej Jiwa Communications Sdn Bhd on behalf of VCI Global Limited
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