VCI Global's Fintech Arm Credilab Achieves US$35 Million Loan Book with 53% Revenue Growth; Secures Conditional Approval for Full Online Lending License

Core Insights - VCI Global Limited's fintech subsidiary, Credilab, is emerging as a leader in Southeast Asia's digital financing landscape, achieving significant milestones [1][6] - Credilab expanded its loan book to US$35 million, reflecting a 53% year-over-year revenue growth, driven by strong demand from underserved SMEs [2][6] - The company has maintained non-performing loans (NPL) below 3%, showcasing the effectiveness of its AI-driven credit risk engine [2][4] Company Developments - Credilab received conditional approval for a full online lending license from the Malaysian Ministry of Housing and Local Government, facilitating nationwide access to financing [3][6] - The platform's technology integrates AI for credit assessment and risk management, enabling rapid loan disbursements while ensuring asset quality [4][6] - Credilab aims to address Malaysia's SME financing gap of approximately US$64 billion, with MSMEs constituting 96.1% of all business establishments in the country [5] Future Outlook - Credilab is positioned to scale significantly, potentially evolving into a unicorn in the fintech space due to its strong execution and technology [6] - The platform focuses on financial inclusion by providing accessible micro-financing solutions to underserved individuals, enhancing credit access through advanced technology [8]