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NexG Bolsters Secure Identity Document Production Capabilities with Significant Investment
Malaysian IT service management company, NexG Bhd, is set to expand its secure identity document production capabilities. The company's strategic investment aims to establish an Industry 4.0-compliant facility to cater to the escalating international demand for secure identity infrastructures.
The proposed investment, estimated at approximately RM250 million, will be executed in three phases. Funds will be sourced through a mix of internal resources, equity fundraising, strategic partnerships, and borrowings.
The new manufacturing facility will house advanced security infrastructure and fully automated processes, boosting precision and production capacity.
With this investment, NexG anticipates increasing its annual production capacity of secure ID documents to more than 15 million per phase. Upon completion, the facility is expected to augment NexG's current capacity by an estimated 50 million secure ID documents.
Revenue projections for each phase range from US$100 million (RM421 million) to US$200 million (RM843 million), depending on document type, country-specific requirements, project scope, and security level. The facility will primarily produce secure identity documents, including e-passports and national ID cards.
NexG's strategic objectives involve driving global expansion and solidifying its position as a global leader in Malaysian-developed secure identity technologies. The facility will also foster future innovation in research and development, system integration, and identity technology.
Thus, NexG's investment in secure ID document production facilities seeks to leverage Industry 4.0 technologies to enhance production efficiency and meet the burgeoning demand for secure identification solutions worldwide.
Technology will be integrated within NexG's Industry 4.0-compliant manufacturing facility, automating processes to increase production efficiency. With the new facility, NexG aims to develop Malaysian-made secure identity technologies that will help address the global demand for secure identification solutions.
