DIY Identity Fraud Services Now within Reach for Everyone, Offering Fraudulent ID Creation
Malaysian IT Company NexG Invests in State-of-the-art Identity Document Facility
NexG Bhd, a prominent Malaysian information technology service management company, announced an investment of approximately RM250 million ($15.38 million) into a modern facility for the production of secure identity documents. This investment forms part of a strategic plan to establish an Industry 4.0-ready plant, bolstering production capacity and precision by incorporating fully automated processes. The project is set to unfold in three phases, with each phase projected to augment annual production capacity to over 15 million units of secure ID documents. Each phase could generate revenue between $100 million and $200 million, contingent upon the type of document, specific country requirements, and the particular level of security needed [2][3][4].
Driven by the rising global demand for high-security identity documents, this investment aims to position NexG as a notable player in the global identity document market, with a notable focus on regions that seek advanced and secure document solutions [2][4].
As countries and organizations worldwide prioritize secure and dependable identity documents, the anticipated impact on international demand is expected to be positive. The new facility's advanced security features and high production capacity will cater to a broader spectrum of international needs, potentially expanding NexG's market share and influence in the identity document industry [2][4].
Sources:[1] NexG Bhd Investing in Identity Document Production Facility (2022, March 3). Official Press Release.[2] Production of High-Security Identity Documents to Boost NexG's Competitive Edge (2022, March 3). Asian Business Review.[3] NexG Aims to Tap into Global Identity Document Market with New Factory (2022, March 3). Malaysian Investment Daily.[4] NexG to Bolster Production Capacity with New Secure ID Document Facility (2022, March 3). Identity Management Today.
- With this investment in the state-of-the-art identity document facility, NexG aims to strengthen its presence in the global cybersecurity technology market, providing advanced and secure document solutions to various regions.
- As cybersecurity concerns heighten in the digital age, the new facility's emphasis on high-security measures will not only respond to the increasing demand for reliable identity documents but also position NexG as a significant player in the technology sector.
