Latest news with #NexG
New Straits Times
3 days ago
- Business
- New Straits Times
NexG plans to raise investment in Cambodia
KUALA LUMPUR: NexG Bhd plans to further increase its investment in Cambodia, particularly in the digital and logistics sectors, said its chief executive officer Datuk Hanifah Noordin. This was expressed during his meeting with Cambodian Prime Minister Hun Manet on the sidelines of the 46th Asean Summit and Related Meetings here last week. According to Hanifah, NexG is offering its expertise in the provision of high-security digital identity documents, while the logistics sector is being offered through MMAG Holdingd Bhd, in which NexG holds a 19 per cent stake. Hanifah stated that his group's core operations lie in information and communication technology, with a specific focus on digital security. He noted that MMAG is already involved in logistics services at the Siem Reap-Angkor International Airport. He added that the group plans to expand its operations and invest further in Cambodia's growing digital economy. The prime minister praised NexG's vision and outlined the Cambodian government's strategic push to enhance the logistics sector through improvements to key infrastructure. This includes the expansion of the Sihanoukville deep-sea port and the development of airports and road networks. He also emphasised the government's priority on digital transformation during the 7th Legislature, describing it as a national priority aimed at modernising the economy and attracting foreign investment. NexG said the prime minister encouraged all interested Malaysian firms to continue close cooperation with Cambodian institutions, emphasising his government's commitment to fostering a transparent and investor-friendly environment that supports long-term economic growth. Lim Heng, vice president of the Cambodian Chamber of Commerce, told the Khmer Times that Cambodia's proactive investment promotion led by Hun Manet had been praised by business leaders following his recent engagement with potential investors during the Asean meetings in Malaysia. "The prime minister consistently attracts investors. During the Asean meetings in Malaysia, many companies, especially representatives from various countries' chambers of commerce, brought potential investors to meet with the prime minister and received guidance on exploring investment opportunities in Cambodia," he said. Heng added that such efforts reflect the leadership's commitment to nurturing a pro-investment climate. "Meeting directly with companies that are still uncertain about Cambodia helps them gain a better understanding of the country and boosts their confidence to invest, especially with the pime minister's personal assurances," he said.
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.
