IFSS Malaysia targets RM104.5 million from new Petaling Jaya plant
The smart card facility has capacity for 40 million cards a year on one shift, with scope to reach about 80 million on two shifts, the company said.
IF Security Solution Sdn Bhd (IFSS Malaysia) is aiming for about RM104.5 million in yearly revenue from a newly developed smart card plant in Petaling Jaya. General manager Melvin Lee said the target assumes 80 per cent utilisation while operating one shift.
Developed with Singapore payment solutions company IF Security Solution Pte Ltd, the Regional Personalisation Services Centre has 10 production lines. The company said the centre serves 110 banking customers in more than 40 regions, as well as equipment and project partners in Hong Kong and Macau.
The centre handles manufacturing, personalisation and fulfilment for clients including banks, fintech companies, public institutions and telecoms operators. Its products span credit and debit cards, prepaid and government cards, and physical and embedded SIMs supporting 4G and 5G networks. It also makes metal, ceramic, gold and LED-enabled cards, alongside cards incorporating recycled materials.
Lee said the company is seeking multinational customers in Malaysia, Europe, Africa, Latin America and the Middle East. He cited Malaysia's electronics ecosystem, logistics infrastructure and secure-document manufacturing experience as factors supporting a cost-competitive production base.
