VCI Global Limited announced that the Company will be collaborating with Treasure Global Inc. to develop an artificial intelligence ("AI")-powered travel platform to heighten the travelling experiences for travellers in Malaysia. This AI-powered platform will serve as a high-tech portable concierge. It will be utilising the latest advanced technologies available to provide relevant travel recommendations in real time.

It assists users in travel related activities, be it to discover more places to explore, dine during their travels in Malaysia and/or improve on seamless bookings for flights, hotels, car rentals and so forth. The platform is designed to break down language barriers as well by providing built-in translation function. This collaboration is ideal as it pools the respective strengths of the two parties concerned where VCI Global will be offering its AI and data analytics expertise.

Being an innovative Malaysian e-commerce platform, TGL shall leverage its extensive user base of 2.4 million and established relationships with over 2,000 merchants. On top of capitalising on each's strengths for mutual benefit, the objectives of this collaboration also include, but not limited to, sharing of knowledge and expertise plus the development of respective resources. TGL and VCI Global have agreed to share profits generated from this collaboration on a 50:50 basis.

A research conducted by Google, Temasek, and Bain & Company revealed that the value of Southeast Asia's digital economy can reach USD1 trillion by 2030. With the digital economy valued at around USD200 billion in 2022, this means that the region's digital economy is projected to grow by a compound annual growth rate of over 22%. The research has also stated that Malaysia's digital economy itself will grow by a compound Annual growth rate exceeding 17% to USD34 billion in 2025 of which USD8 billion is from online travel related activities as tourism industries further embrace digital technologies globally.

Coupled with all these growth projections, this partnership is timely as economies shift to the post-Covid era. In the fourth quarter of 2022, there were 4.5 million tourist arrivals in Malaysia in contrast to just 61,000 for the fourth quarter of 2021.