NexG plans RM250mil secure ID documents facility
In a statement, the IT service management company said the investment will be implemented in three phases, with ongoing optimisation and enhancements expected to raise annual production capacities to over 15 million units for secure ID documents in each phase.
'The establishment of a new manufacturing facility, equipped with advanced security infrastructure, is projected to generate between US$100mil (RM421mil) and US$200mil (RM843mil) in revenue per phase—subject to type of document and/or solution, country-specific requirements, project scope, and the level of embedded document security.
'Once completed, the new facility is projected to add an additional estimated capacity of 50 million of secure ID documents to NexG's current production capacity, significantly enhancing the group's ability to meet growing international demand for secure identity infrastructure.'
The RM250mil investment will be financed through a combination of internally generated funds, equity fundraising, strategic partnership and borrowings.
The upgraded facility is also expected to support future innovation in research and development, system integration, and identity technology.
'We believe that by strengthening our production capabilities and creating a dedicated global platform, NexG will be well-positioned to bring Malaysian-developed secure identity technologies to more countries around the world," NexG executive chairman and CEO Datuk Hanifah Noordin said.
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