Biometric Data Can Be Reversed for Attacks, Yet Secured Through Hashing Techniques
NexG Bhd, a leading IT service management firm, unveils plans to invest a substantial RM250 million ($15.38 million USD) in developing a cutting-edge, secure ID document production facility. The investment is part of an ambitious strategy to expand production capabilities and cater to the growing international demand for secure identity infrastructure.
The state-of-the-art facility will be designed with advanced Industry 4.0 security infrastructure, ensuring precision in the production of secure ID documents. The project will be implemented in three phases, with each phase targeting an increase in annual production capacity to surpass 15 million units.
Revenue projections for the new facility suggest it could generate between US$100 million and US$200 million per phase, depending on factors such as document type and security requirements. The increased production is expected to contribute substantial revenue to NexG's coffers.
The expanded capacity will allow NexG to meet international demand more effectively, boosting its ability to cater to the global market. The facility is also anticipated to foster innovation in research and development, system integration, and identity technology, positioning NexG to broaden its global footprint with Malaysian-developed secure ID technologies.
The investment will be financed through a mix of internally generated funds, equity fundraising, strategic partnerships, and borrowings. This strategic maneuver underscores NexG's commitment to enhancing its position in the secure ID document production sector and expanding its global presence.
The new facility, designed with Industry 4.0 security infrastructure, will employ cutting-edge cybersecurity technology to ensure the production of secure ID documents. As part of NexG's global growth strategy, the project aims to generate revenue between US$100 million and US$200 million per phase, leveraging technology to foster innovation and expand its footprint in the secure ID technology sector.
