Enhancing institutional preparedness for AI regulation within the EU framework in Malta.
Malaysian-based firm, NexG Bhd, intends to invest approximately RM250 million (around US$57 million) to establish a cutting-edge secure identity documents production facility. This new facility will adopt Industry 4.0 technologies, enhancing production capacity and precision (sources: 2, 3, 4).
The project will be carried out in three sequential phases, focusing on continuous optimization and enhancement to boost annual production capacity beyond 15 million secure ID documents per phase. Upon completion, the new facility is projected to augment NexG’s current output by an additional 50 million units annually (3).
The new facility is expected to generate revenue between US$100 million (RM421 million) and US$200 million (RM843 million) per phase, contingent upon factors such as the type of document or solution, country-specific requirements, project scope, and the level of security integrated into the documents (2, 3). The RM250 million investment will be funded through a combination of internal resources, equity fundraising, strategic partnerships, and borrowings (2, 3).
The advanced manufacturing plant will incorporate enhanced security infrastructure and facilitate future innovation in research and development, system integration, and identity technologies (3). Datuk Hanifah Noordin, NexG’s executive chairman and CEO, stated that this investment positions the company to export Malaysian-developed secure identity technologies to a wider global market (3).
In essence, NexG’s investment in a secure ID documents production facility signifies a strategic approach to address rising international demand by leveraging Industry 4.0 technologies, thereby increasing production capacity, and strengthening product security features (2, 3, 4).
The strategic investment of RM250 million by NexG Bhd will primarily be utilized for funding the new secure identity documents production facility, with a portion allocated for finance through internal resources, equity fundraising, strategic partnerships, and borrowings (2, 3). This cutting-edge facility, positioned to export Malaysia-developed technology to the global market, is projected to generate revenue ranging between US$100 million to US$200 million per phase, given the factors such as document type, security features, and production volume (2, 3). This will significantly contribute to the financial aspect of the industry, bolstering the company's revenue in the finance sector.
