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NexG Invests in Advanced Secure ID Documents Facility for Global Expansion
In a significant move to bolster its production capabilities, NexG Bhd announced an investment worth approximately RM250 million (USD $15.38 million) to establish an Industry 4.0-ready facility for the production of secure ID documents. The new facility will be fully automated, aiming to significantly increase capacity and precision.
The investment will be partially financed through internal funds, equity raising, strategic partnerships, and borrowings. The state-of-the-art facility will be equipped with advanced security infrastructure, supporting future research, development, system integration, and identity technology.
The investment will be spread across three phases, each expected to enhance annual production capacity to more than 15 million units of secure ID documents. The revenue generated from this venture is projected to range between US$100 million (RM421 million) and US$200 million (RM843 million) per phase, depending on factors like document type, country-specific requirements, project scope, and security level.
NexG's strategic objective is to strengthen its production capabilities and create a dedicated global platform for Malaysian-developed secure identity technologies. This investment is aligned with NexG's broader strategy for digital transformation and global expansion. The project forms part of NexG's efforts to meet the growing international demand for secure identity infrastructure and promote Malaysian technologies worldwide.
- To ensure the success of the advanced secure ID documents facility, NexG will partner with technology firms for strategic integration and system development in their finance department.
- The financial return on NexG's investment in the secure ID documents facility will be boosted by the implementation of cutting-edge technology, which will drive efficiency and pave the way for global expansion.
