W3C Initiates Step for Standardizing Secure Payment Verification Procedure
Malaysian Tech Firm NexG Takes Strides Towards Global Dominance with RM250 Million Investment
Kuala Lumpur — Malaysian IT service management company NexG Bhd executes a significant move to bolster its global presence in the identity document production sector. The company has earmarked an approximate RM250 million investment to construct an Industry 4.0-ready facility for producing secure ID documents.
Detailed plans for the investment reveal the new manufacturing plant will be graced with state-of-the-art security infrastructure, ensuring its output boasts unparalleled precision and security features. This initiative is slated to significantly enhance NexG's production capacity, positioning the company at the forefront of its industry.
According to information provided, the new facility will undergo three consecutive phases of development, with each phase ensuring constant optimization and enhancements for improved production efficiency. This strategic approach allows the company to respond to the ever-increasing international demand.
Once complete, the facility is expected to boast annual production capacities surpassing 15 million units per phase. This development could potentially add an estimated 50 million units to NexG's present generating capabilities. Financial projections suggest that the project will yield revenues ranging between US$100 million and US$200 million per phase, depending on factors such as the document type, specific country requirements, and security levels.
With this investment, NexG also aims to penetrate more international markets, showcasing its innovative Malaysian-developed secure identity technologies around the world. Sources close to NexG insist the company's ultimate goal is to solidify its position at the global stage, taking secure identity document production to new heights.
The RM250 million investment by NexG Bhd will not only boost their production capacity in the identity document production sector, but will also position them as a leader in the global finance industry, with an anticipated annual production of over 50 million units per year. This strategic investment is aimed at securing a significant portion of the international market, cementing NexG's position as a global player in the finance and identity industry.
