Latest news with #HanifahNoordin
The Star
3 days ago
- Business
- The Star
Hong Seng sells 32.6% stake in Classita to NexG for RM60.3mil
PETALING JAYA: Hong Seng Consolidated Bhd has sold its 32.61% stake in Classita Holdings Bhd to NexG Bhd for RM60.3mil or 15 sen a share via a direct business transaction. Classita and its subsidiaries are principally engaged in the manufacturing and sales of undergarments, property development and construction as well as direct selling and retailing of its in-house brands. In a filing with Bursa Malaysia, Hong Seng noted the proceeds from the disposal will be utilised for the working capital purposes. Hong Seng added that the sale is in line with its strategic initiative to streamline non-core assets and focus on its main business segments: gloves manufacturing, seafood trading and financial services. The stake in Classita was acquired in July 2023 and the sale provides an opportunity to realise an estimated gain on disposal of RM34.52mil. In a separate filing, Classita had announced resignations and appointments to its board following the transaction in its shares ownership. Meanwhile, NexG noted it has spent another RM16.47mil to buy 414.3 million warrants in Classita from various non related parties. The company added it will fund the deal with RM40mil from short-term borrowings and the RM36.78mil from internally generated funds. It added the acquisition in Classita is a strategic opportunity to expand into the property and construction sector. The deal does not require the approval of shareholders of NexG. NexG executive chairman and CEO Datuk Hanifah Noordin said: "We are excited to announce this strategic acquisition, which forms part of our broader strategy to support government initiatives and to contribute directly to nation-building efforts under the MADANI Economic Framework, while also expanding beyond our businesses in secure identity solutions, digital trust ID, corporate strategic alliance and financial services.' 'Entering the property and construction sectors is a strategic and timely move for NexG. We intend to play a more active and visible role in Malaysia's national development by leveraging our financial strength, government networks, and proven track record in mission-critical projects to support the country's housing and infrastructure agenda. 'We view Classita as a strong fit for this ambition, given its credentials and readiness to participate in government-linked projects,' he said.
The Star
10-07-2025
- Business
- The Star
NexG acquires properties for RM28.5mil
PETALING JAYA: NexG Bhd is acquiring a two-storey factory, a three-storey office block, a two-storey warehouse and a guardhouse in Petaling Jaya, Selangor from Pixio Sdn Bhd for RM28.5mil. In a filing with Bursa Malaysia, the security-based information and communications technology solutions provider said the acquisition is part of a strategic initiative aimed at enhancing production capacity and efficiency. NexG also said the acquisition of the properties will ensure the group is able to maintain its competitive edge and scalability as well as enable the company to support its existing and future projects. 'Additionally, by consolidating research, design, and production in the same area, NexG group is able to achieve greater operational efficiency, cost savings, improved quality control, and increased production capacity. 'This integration would also foster innovation and flexibility in product development and strengthen NexG group's market competitiveness.' Barring any unforeseen circumstances, the company expects to complete the acquisition by the fourth quarter of 2025. In a statement, NexG executive chairman and CEO Datuk Hanifah Noordin said the company is achieving further expansion momentum with the acquisition of a factory, office, and warehouse asset strategically located near its PJ 223 Manufacturing Centre. 'This acquisition forms a critical part of our planned RM250mil investment into Industry 4.0 secure ID documents production, to significantly boost our capacity and meet growing international demand for secure identity infrastructure. 'Furthermore, by consolidating our R&D and production activities in the same area, we can achieve greater operational efficiency, cost savings, improved quality control, and increased production capacity. 'Through the strengthening of our production capabilities, along with our substantial investments in AI and other next-generation technologies, we are accelerating NexG's transformation into a regional leader in physical and digital identity markets,' he said.
New Straits Times
13-06-2025
- Business
- New Straits Times
NexG to build RM250mil plant, strengthen footprint as regional ID solutions leader
KUALA LUMPUR: NexG Bhd is ramping up its transformation journey with a RM250 million capital expenditure to build a state-of-the-art high-security identity document manufacturing facility. The high-security identity document solutions provider said the investment marks a pivotal milestone in its strategy to strengthen its global footprint. NexG, formerly operating as Datasonic Bhd, said its multi-phase transformation plan includes capital injection initiatives, a corporate rebranding and expansion into high-potential foreign markets. "We are actively pursuing both domestic and international investment opportunities through our group of companies," NexG executive chairman and group chief executive officer Datuk Hanifah Noordin said. NexG said the proposed facility, which includes a new corporate headquarters, will be built in three phases, with expected revenue generation between US$100 million and US$200 million per phase (RM421 million to RM842 million). The estimation depends on factors such as document types and volume, security specifications required by individual countries, as well as project scale and technical complexity. "Upon completion, the facility is expected to add around 50 million secure identity documents to NexG's annual production capacity, effectively positioning the company to meet rising international demand for secure identity solutions," it said. The investment also supports NexG's shift towards digital production systems, intellectual property development and data-driven security solutions, aligned with what it terms a "new paradigm of secure documentation." "We aim to not just export technology, but to empower digital sovereignty for nations in need of scalable, trusted and secure identity infrastructure," Hanifah added. Complementing its capital investment, NexG has made key investment moves, including acquiring a 19 per cent stake in a logistics company MMAG Holdings Bhd and a 51 per cent stake in a digital identity technology firm Innov8tif Holdings. With clear strategic direction and robust investment approach, NexG said it is poised to emerge as a regional leader in secure identity solutions and a key enabler of digital infrastructure across Asean and beyond.
The Star
26-05-2025
- Business
- The Star
NexG plans RM250mil secure ID documents facility
PETALING JAYA: NexG Bhd plans to invest approximately RM250mil to develop an Industry 4.0-ready secure ID documents production plant, marking a quantum leap in production capacity and significantly enhancing product precision through fully automated processes. 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.
New Straits Times
26-05-2025
- Business
- New Straits Times
NexG to build RM250mil secure ID facility to power global expansion
KUALA LUMPUR: NexG Bhd, formerly known as Datasonic Group Bhd, is developing a RM250 million secure identification (ID) document production facility as part of its global expansion strategy. The Industry 4.0-ready plant will feature fully automated systems, artificial intelligence and extensive research and development (R&D) to enhance precision and scalability, the company said in a statement today. The facility is expected to significantly boost the group's production capacity for secure identity documents, including e-passports and national ID cards. The project will be carried out in three phases, with each phase expected to produce more than 15 million secure ID units annually. When fully completed, the facility will raise NexG's total output capacity by 50 million units. Revenue potential from each phase is estimated between US$100 million (RM422 million) and US$200 million (RM844 million), depending on the document type, client requirements and the level of security features embedded. The expansion will be spearheaded by a newly incorporated subsidiary, Datasonic Global Technologies Sdn Bhd (DGT), which will focus on international markets and strategic partnerships with governments and system integrators. "This marks a significant next step for NexG," said executive chairman and chief executive officer Datuk Hanifah Noordin. "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's technology underpins Malaysia's e-passport and MyKad systems, both of which have been recognised globally for their advanced security. The company's e-passport, first issued in 1998, was the world's first biometric passport and is accepted by all 193 member states of the International Civil Aviation Organisation. Funding for the RM250 million investment will come from internal funds, equity raising, strategic partnerships and borrowings. The new facility is also expected to support future innovations in R&D and system integration. According to SkyQuest Technology, the global e-passport market is projected to nearly triple from US$32.42 billion (RM136.78 billion) in 2023 to US$94.35 billion (RM398.06 billion) by 2032, driven by growing demand for biometric-based identity systems. NexG said it aims to tap into this growth, particularly in Asean, Africa and other emerging regions.
