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** Malaysian Firm Invests Heavily in State-of-the-art Secure Identity Document Production Facility**
In a significant bid to expand its production capabilities and stay at the technological forefront, NexG Bhd has planned to invest approximately RM250 million to establish a cutting-edge secure identity document production plant. This investment will tap into Industry 4.0 technologies for enhanced precision and efficiency.
Due to the automation of processes with advanced security infrastructure, the new plant is expected to make NexG's products more precise and efficient. The facility, which will be established in three phases, is anticipated to surpass an annual production capacity of 15 million secure ID document units upon full completion, bumping up NexG's total annual capacity by around 50 million documents.
The revenues generated by each phase could range from US$100 million to US$200 million (RM421 million to RM843 million), depending on factors like document type, security features, country-specific requirements, project scope, and embedded security levels. The manufacturing facility aims to fulfill the growing demand for secure identification systems, especially in light of increasing global concerns over identity protection and security.
NexG's executive chairman and CEO, Datuk Hanifah Noordin, described this investment as a "quantum leap" in the company's production capacity and capabilities. It underscores NexG's commitment to delivering high-security identity solutions to its international clientele.
In addition to increasing production capacity, the new facility is expected to foster innovation in research and development, system integration, and identity technology. This investment positions NexG as a formidable competitor in the global secure identity infrastructure market.
The facility will offer customizable, high-security ID document solutions tailored to meet various countries' needs and standards, ensuring it addresses international demand effectively. This strategic expansion aligns with global trends highlighting the importance of advanced secure identity systems.
The investment in the state-of-the-art secure identity document production facility by NexG Bhd will not only increase their production capacity but also contribute to the expansion of their business by tapping into the technology sector, thus elevating their position as a competitor in the global finance industry. With the facility set to create high-security identity solutions catering to various international standards, it illustrates NexG's commitment to staying at the technological forefront in the business of finance and security.
