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NexG Bhd, an IT service management company, has unveiled a significant investment to cater to the growing international demand for secure identity documents. The company aims to infuse approximately RM250 million (around $15.38 million) to establish an Industry 4.0-ready, state-of-the-art facility for producing secure identity documents.
The production plant, slated for implementation in three consecutive phases, will focus on automation and advanced security infrastructure. These features are anticipated to boost production efficiency and precision significantly. Each phase is expected to enable the production of over 15 million secure ID documents annually.
Once operational, the facility will add an estimated 50 million secure ID documents to NexG's current output, addressing increased global demand. The investment will be funded through a mix of internal funds, equity fundraising, strategic partnerships, and loans.
According to Datuk Hanifah Noordin, NexG's executive chairman and CEO, the refurbished facility will propel innovation in research and development, system integration, and identity technology. The company envisions the facility as a global platform for showcasing Malaysian-developed secure identity technologies to a wider international audience.
Each phase of the project is projected to generate revenue ranging from $100 million to $200 million, depending on factors such as document type, solution, country-specific requirements, and level of embedded security.
The new facility, powered by significant investment, will be equipped with cutting-edge technology, aiming to enhance production efficiency and precision for secure identity documents. This Industry 4.0-ready production plant is anticipated to bolster innovation in research and development, system integration, and identity technology.
