Guidance on Digital Identity: IOM Unveils Handbook for Decision-Makers and Practitioners
IT service management company NexG Bhd is set to boost its identity document production capabilities with an estimated RM250 million investment in a fully automated Industry 4.0-ready facility. This initiative, spread across three phases, aims to increase annual production to over 15 million units of secure ID documents, catering to growing international demand for secure identity infrastructures.
Each phase of the development will potentially raise their revenue between US$100 million (RM421 million) and US$200 million (RM843 million), depending on document type, country-specific requirements, and the project's scope and security level. Financing for the investment will be sourced from internal funds, equity fundraising, strategic partnerships, and borrowings.
Once operational, the new facility is estimated to augment NexG's current production capacity by adding an additional 50 million secure ID documents. It will also support future innovation in research and development, system integration, and identity technology, thus positioning NexG as a global platform for secure identity technologies developed in Malaysia, expanding its reach to more countries.
This significant investment signifies NexG Bhd's commitment to advancing secure identity document production, aligning with international demand and technological advancements in the industry.
- The investment in the new facility will not only bolster NexG Bhd's current production capacity of secure ID documents, but also spur advancements in technology for identity solutions, positioning them at the forefront of cybersecurity in the industry.
- As they venture into this large-scale project, NexG Bhd demonstrates their commitment to not just increasing their identity document production capabilities, but also to staying abreast of technological advancements in the cybersecurity domain.
