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NexG Bolsters Secure ID Document Production with Industry 4.0 Investment
Malaysian identity solutions provider, NexG Bhd, has announced a significant stride in its business expansion with an investment of approximately RM250 million to establish an Industry 4.0-ready facility for producing secure ID documents. This move is aimed at meeting the rising global demand for superior security identity documents.
The new facility, set to be developed in three phases, will leverage cutting-edge automation technologies to enhance production capacity and precision. Ongoing optimization and enhancements are expected to increase the annual production capacity to surpass 15 million units of secure ID documents.
NexG projects that the new facility will generate revenue of between US$100 million and US$200 million per phase, contingent on factors such as document type, country-specific requirements, project scope, and level of security.
The facility will be equipped with advanced security infrastructure, setting a high standard for the security features of its produced documents. This factor positions NexG as a potential preferred supplier for countries seeking high-security ID solutions.
With this strategic investment, NexG aims to expand its market reach globally, capitalizing on the growing international demand for secure identity documents. By focusing on high-security features and increasing production capacity, NexG is poised to capture a larger share of the global secure ID document market.
Sources:[1] NexG Bhd [Company Announcement], 2022[2] Bernama [Press Release], 2022[3] The Edge Markets [Article], 2022[4] NST Online [Article], 2022
The significant investment by NexG Bhd in Industry 4.0 technology will enable the production of secure ID documents, aligning the company with the dynamic demands of the finance sector. In its quest to capture a larger share of the global secure ID document market, NexG plans to generate revenue of between $100 million and $200 million per phase from this project.
