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Malaysia's NexG to Establish High-Tech Identity Document Production Facility
Malaysian-based NexG Bhd has announced plans to invest approximately RM250 million (US$15.38 million) to build a cutting-edge, Industry 4.0-ready production facility for secure identity documents. This ambitious expansion will significantly boost the company's capacity and technological capabilities in the manufacturing of secure identity documents.
The new manufacturing plant will feature advanced security infrastructure and fully automated processes, aiming to improve precision and operational efficiency. The project will unfold in three phases, with each phase designed to increase annual production capacity to more than 15 million secure ID documents. Upon completion, the upgraded facility is projected to augment NexG's total annual production by an additional 50 million secure ID documents.
Expected revenues from this new facility are projected to range between US$100 million (RM421 million) and US$200 million (RM843 million) per phase, contingent upon factors such as document type, country-specific requirements, project scope, and document security level.
This RM250 million investment will come from a combination of internal funds, equity fundraising, strategic partnerships, and borrowings. Besides enhancing production, the facility is slated to support future innovation in research and development, system integration, and identity technologies, positioning NexG to better cater to the growing global demand for secure identity infrastructure.
Datuk Hanifah Noordin, NexG's executive chairman and CEO, expressed optimism about the strategic expansion and creation of a dedicated global platform, which will enable Malaysian-developed secure identity technologies to reach more countries worldwide.
In essence, NexG's investment in this new production plant marks a major leap forward in capacity and technology, with the potential to significantly expand the company's footprint in the global secure identity market to meet increasing international demand.
References: [1], [2], [4], [5]
- The new facility, with its advanced security infrastructure and automation, will allow NexG to expand its capabilities not only in the manufacturing of secure identity documents but also in the broader aerospace, finance, and technology industries.
- With its projected annual production capacity of more than 15 million secure ID documents and the potential to augment NexG's total annual production by an additional 50 million, this RM250 million investment is poised to establish NexG as a significant player in the global finance and technology sectors.
