NexG Berhad (Formerly known as Datasonic Group Berhad) 200801008472 (809759-X) ANNUAL REPORT 2025 Empowering Trust, Driving Innovation.
COVER RATIONALE The minimalist, futuristic aesthetic reflects NexG Berhad’s role in advancing secure digital solutions. The tagline “Empowering Trust, Driving Innovation.” reinforces the Company’s dedication to creating a resilient, protected digital ecosystem, ensuring innovation and safety go hand in hand as the world transitions into an increasingly connected era. The cover design represents NexG Berhad’s commitment to building a secure digital world through cutting-edge technology and cybersecurity solutions. The cube, composed of intricate circuits, symbolises the core of digital infrastructure, while the shield overlay with a fingerprint icon highlights the company’s focus on data security, authentication and trust in the digital space. At NexG Berhad, we are redefining trust, security and digital transformation by delivering tailored, future-proof end-to-end identity management ecosystems that support sustainable, secure and efficient digital economies. We stood as one of the prominent security-based ICT solutions providers in Malaysia, known for our proven track record in delivering mission-critical national projects. With globally recognised certifications, NexG Berhad is committed to pioneering a fully digital and secure ecosystem, empowering enterprises and governments with next-generation identity management solutions that prioritise privacy, scalability and global accessibility. Who We Are To empower societies and industries through next-generation digital identity and security solutions, paving the way for a connected, secure and future-ready world. Governance and Leadership Strengthening corporate governance and fostering visionary leadership to achieve organisational excellence. Financial Resilience Targeting sustainable financial growth through robust cash reserves and strategic investments. Portfolio Diversification Expanding into digital identity technologies and broadening offerings to include e-KYC, fraud detection and integrated digital platforms. Market Penetration Establishing a strong presence in high-growth regions such as the Middle East, Africa and ASEAN countries. Technology Advancement Leveraging AI, blockchain and IoT to deliver secure, scalable and future-ready solutions. Global Expansion Entering new markets through strategic acquisitions and partnerships to capitalise on international digitalisation opportunities. To deliver cutting-edge digital and physical identity solutions that enhance security, efficiency and trust. To drive digital transformation through innovative AI technologies and secure systems tailored to the needs of our customers. To empower stakeholders by aligning with national and international digital economy initiatives. Strategies Vision Mission
Integrated Security and Surveillance System for Penang State Government 2014 Passport Chips for Immigration Department of Malaysia 2015 Passport Booklets for Immigration Department of Malaysia 2016 3-year contract for the comprehensive maintenance of Facial Live Capture (“FLC”) system equipment, software and applications at all passport issuance and receiving offices under the Immigration Department of Malaysia RM9.97 million contract to develop localisation, adaptation and integration of an unmanned aircraft system traffic management system for CAAM One-year contract extensions on passport, biodata-page and passport chip supply One-year contract extensions for security document, MyKAD and maintenance of Card Issuance Centers at the National Registration Department (“NRD”) 2025 Passport polycarbonate data pages with laser printing system for Immigration Department of Malaysia 2013 RM30 million contract to supply smart cards to an Indonesian state-owned enterprise RM81.2 million worth of contract extensions from Ministry of Home Affairs, Malaysia One-year contract extensions on passport, biodata-page and passport chip supply One-year contract extensions on Comprehensive Maintenance Services for Card Issuance Centers (MyKAD) at the National Registration Department (“NRD”). 2024 Listed on Main Market of Bursa Malaysia Securities Berhad 2012 Public Key Infrastructure, Public Key Directory and Electronic Autogates (e-Gates) Regional ID Document of the Year Award 2018 Data Centre and Helpdesk for Immigration Department of Malaysia 2011 MyKad raw cards, chips, consumables and personalisation system for National Registration Department of Malaysia 1999 - Present Malaysia Automatic Clearance System (“MACS”) for Foreigners Electronic Autogates (e-Gates) 2019 Facial Live Capture (“FLC”) Image System for Immigration Department of Malaysia 2021 Foreign worker card (i-Kad) for Immigration Department of Malaysia 2022 Through our group of companies and subsidiaries, NexG is involved in the provision of High Security Printing and ICT Solutions including but not limited to: What We Do Corporate Milestones National Security Documents (Manufacturing, Printing & Digitalisation) - National Identity Card - National Digital Identity SECURE IDENTITY SOLUTION DIGITAL TRUST ID CORPORATE STRATEGIC ALLIANCE (“CSA”) Financial Banking Cards - EMV-certified Debit / Credit Card Personalisation - Picture Card - Supply and Personalisation AI Fraud Prevention - Customer Identity Assurance (“CIDA”) Ecosystem Border Control - Automated Border Control Clearance Solution - Multimodal Biometrics - Digital Travel Credentials - Secure VISA Management Fintech & Banking Customised Solutions - Terminals and Multifunction Kiosk - Automated Safe Deposit Box (“ASDB”) - Banking Peripherals - Banking Customised Solutions National Datasets Management - Data Analytics - Artificial Intelligence Dashboard Reporting - Customised Solutions Other Solutions - Industry Automation and Operational Technology - Perimeter Security and Surveillance - Healthcare Products and Solutions - Unmanned Aircraft Traffic Management System - Telecommunication Network Infrastructure - ICAO-compliant e-Passport - Driving License Card - Foreign Workers ID Card - National-controlled Documents
Corporate Governance Overview Statement Audit Committee Report Statement on Risk Management and Internal Control Additional Compliance Information Directors’ Responsibilities Statement Directors’ Report Statement by Directors Statutory Declaration Independent Auditors’ Report Statements of Financial Position Statements of Profit or Loss and Other Comprehensive Income Statements of Changes in Equity Statements of Cash Flows Notes to the Financial Statements List of Properties Statistics of Shareholdings Statistics of Warrantholdings Notice of Seventeenth Annual General Meeting Statement Accompanying Notice of Annual General Meeting Administrative Guide Form of Proxy 77 93 101 108 109 111 118 118 119 123 125 126 129 131 198 200 203 206 215 216 GOVERNANCE FINANCIAL STATEMENTS OTHER INFORMATION What’s inside Annual General Meeting Share Price Performance Corporate Highlights Corporate Structure Corporate Information The Year At a Glance 4 5 6 7 9 ABOUT NexG Profile of Directors Key Senior Management’s Profile 14 23 OUR LEADERSHIP Sustainability Statement Performance Data Table 42 74 SUSTAINABILITY Chairman’s Statement Management Discussion and Analysis 28 34 OUR PERSPECTIVE QR CODE or you can scan to download This Annual Report is available at www.nexg.com.my Lobby, Prima 10, Prima Avenue II, Block 3544, Persiaran APEC, 63000 Cyberjaya, Selangor Darul Ehsan Wednesday, 24 September 2025 at 10:00 a.m.
About NexG Share Price Performance Corporate Highlights Corporate Structure Corporate Information The Year At a Glance 4 5 6 7 9
ANNUAL REPORT 2025 ABOUT NexG 4 Share Price Performance NexG share price performance and volume traded for the period from 30 June 2024 to 30 June 2025. HIGHEST PRICE : RM0.545 (3 July 2024) HIGHEST VOLUME TRADED : 94,579,800 SHARES (5 March 2025) LOWEST PRICE : RM0.210 (9 April 2025) LOWEST VOLUME TRADED : 1,049,600 SHARES (30 September 2024) 0.450 0.400 0.350 0.300 0.200 Share Price Trade Volume 50M 0M Jun 24 Jul 24 Oct 24 Feb 25 Apr 25 Aug 24 Nov 24 Mar 25 Jun 25 Sep 24 Dec 24 May 25 Jan 25 0.250
ANNUAL REPORT 2025 ABOUT NexG 5 Corporate Highlights REVENUE RM’000 PROFIT AFTER TAXATION (“PAT”) RM’000 PROFIT BEFORE TAXATION (“PBT”) RM’000 EARNINGS BEFORE INTEREST, TAX, DEPRECIATION & AMORTISATION (“EBITDA”) RM’000 BASIC EARNINGS PER SHARE (sen) PAT MARGIN % 344,705 76,345 108,183 146,306 2.68 22.15 138,414 7,284 11,089 27,034 0.28 5.26 136,428 10,225 12,737 28,688 0.36 7.49 368,309 92,232 122,476 152,431 3.28 25.04 373,454 115,676 151,775 168,182 4.15 30.97 2023 2023 2023 2023 2023 2023 2022 2022 2022 2022 2022 2022 2021 2021 2021 2021 2021 2021 2024 2024 2024 2024 2024 2024 2025 2025 2025 2025 2025 2025 FYE 2021 FYE 2022 FYE 2023 FYE 2024 FYE 2025 Revenue RM’000 138,414 136,428 344,705 368,309 373,454 Earnings Before Interest, Tax, Depreciation & Amortisation (“EBITDA”) RM’000 27,034 28,688 146,306 152,431 168,182 Profit After Taxation (“PAT”) RM’000 7,284 10,225 76,345 92,232 115,676 Basic Earnings Per Share sen 0.28 0.36 2.68 3.28 4.15 Profit Before Taxation (“PBT”) RM’000 11,089 12,737 108,183 122,476 151,775 PAT Margin % 5.26 7.49 22.15 25.04 30.97
ANNUAL REPORT 2025 ABOUT NexG 6 Corporate Structure NEXG BERHAD (Formerly known as Datasonic Group Berhad) (Registration No. 200801008472 (809759-X)) DATASONIC TECHNOLOGIES SDN. BHD. (FORMERLY KNOWN AS NEXG TECHNOLOGIES SDN. BHD.) (Registration No. 198001009852 (63636-X)) 100% DATASONIC GLOBAL TECHNOLOGIES SDN. BHD. (Registration No. 202501023427 (1624840-V)) 100% PT DATASONIC TEKNOLOGI INDONESIA (Registration No. 4017092031103223) 99% DATASONIC CORPORATION SDN. BHD. (Registration No. 198001009852 (63636-X)) 100% DATASONIC MANUFACTURING SDN. BHD. (Registration No. 199701003312 (418808-K)) 100% AMALAN FOKUS SDN. BHD. (Registration No. 201501031947 (1157271-K)) 100% 1%* XENDITY SDN. BHD. (Registration No. 201701039654 (1253826-D)) 100% INNOV8TIF SOLUTIONS CO. LTD. (Registration No. 1000302914) 100% MYNASIONAL SDN. BHD. (Registration No. 202501012876 (1614290-K)) 70% MYNASIONAL EKYC HOLDINGS SDN BHD (FORMERLY KNOWN AS INNOV8TIF HOLDINGS SDN. BHD.) (Registration No. 202301002158 (1496077-K)) 51% NEXG ASSET SDN. BHD. (FORMERLY KNOWN AS DATASONIC INTERNATIONAL SDN. BHD.) (Registration No. 201601034314 (1205255-U)) 100% MMR CAPITAL SDN. BHD. (Registration No. 202301001533 (1495452-D)) 100% DATASONIC SMART SOLUTIONS SDN. BHD. (Registration No. 200401009261 (647764-K)) 100% MEDICLOUD MALAYSIA SDN. BHD. (Registration No. 201701022145 (1236311-W)) 100% DATASONIC DIGENT SDN. BHD. (Registration No. 201901038405 (1347735-U)) 60% NEXG CSA SDN. BHD. (Registration No. 202501011622 (1613036-H)) 100% DATASONIC INNOVATION SDN. BHD. (Registration No. 201401026924 (1103014-X)) 100% DATASONIC BUSINESS TECHNOLOGIES PHILIPPINES INC. (Registration No. CS201914539) 39.99% NEXG CAPITAL SDN. BHD. (FORMERLY KNOWN AS DATASONIC DIGITAL SDN. BHD.) (Registration No. 201501031952 (1157276-P)) 100% DATASONIC NEW ZEALAND LIMITED (Registration No. 5489621) 100% INNOV8TIF SOLUTIONS SDN. BHD. (Registration No. 201101030830 (958965-W)) 100% INNOV8TIF TECHNOLOGY SDN. BHD. (Registration No. 201401015926 (1092012-M)) 100% INNOV8TIF SOLUTIONS PTE. LTD. (Registration No. 201411160-D) 100% * 1% of PT DATASONIC TEKNOLOGI INDONESIA is owned by DATASONIC TECHNOLOGIES SDN. BHD.
ANNUAL REPORT 2025 ABOUT NexG 7 BOARD OF DIRECTORS Datuk Haji Hanifah bin Noordin Executive Chairman and Chief Executive Officer Datuk Ab.Hamid bin Mohamad Hanipah Executive Director Puan Hajah Erna bt Ismail Executive Director and Chief Financial Officer Datuk Zainal Abidin bin Abu Hassan Independent Non-Executive Director Ms Michelle Yong Voon Sze Independent Non-Executive Director Tan Sri Dato’ Seri Mohd Khairul Adib bin Abd Rahman Executive Deputy Chairman Datuk Puvanesan a/l Subenthiran Executive Director Dato’ Ibrahim bin Abdullah Independent Non-Executive Director Dato’ Che Nazli binti Jaapar Independent Non-Executive Director Corporate Information AUDIT AND RISK MANAGEMENT COMMITTEE Chairperson Ms Michelle Yong Voon Sze Independent Non-Executive Director Member Dato’ Che Nazli binti Jaapar Independent Non-Executive Director Dato’ Ibrahim bin Abdullah Independent Non-Executive Director NOMINATION AND REMUNERATION COMMITTEE Chairman Datuk Zainal Abidin bin Abu Hassan Independent Non-Executive Director Member Dato’ Ibrahim bin Abdullah Independent Non-Executive Director Ms Michelle Yong Voon Sze Independent Non-Executive Director EMPLOYEES’ SHARE OPTION SCHEME COMMITTEE Chairman Datuk Zainal Abidin bin Abu Hassan Independent Non-Executive Director Member Datuk Haji Hanifah bin Noordin Executive Chairman and Chief Executive Officer Datuk Ab.Hamid bin Mohamad Hanipah Executive Director Puan Hajah Erna bt Ismail Executive Director and Chief Financial Officer SUSTAINABILITY COMMITTEE Chairperson Puan Hajah Erna bt Ismail Executive Director and Chief Financial Officer Member Datuk Ab.Hamid bin Mohamad Hanipah Executive Director Datuk Puvanesan a/l Subenthiran Executive Director
ANNUAL REPORT 2025 ABOUT NexG 8 COMPANY SECRETARIES Niu Chew Wei (MAICSA 7022900) (SSM Practising Certificate Registration No. 202008001346) Tan Tong Lang (MAICSA 7045482) (SSM Practising Certificate Registration No.: 202208000250) HEAD OFFICE Level 6, Bangunan Setia 1 No. 15, Lorong Dungun Damansara Heights 50490 Kuala Lumpur Tel No. : (603) 2632 9699 Fax No. : (603) 2632 9600 Website : www.nexg.com.my REGISTERED OFFICE Level 6, Bangunan Setia 1 No. 15, Lorong Dungun Damansara Heights 50490 Kuala Lumpur Tel No. : (603) 2632 9699 Fax No. : (603) 2011 3560 EXTERNAL AUDITORS Crowe Malaysia PLT 201906000005 (LLP0018817-LCA) & AF 1018 Level 16, Tower C Megan Avenue II 12, Jalan Yap Kwan Seng 50450 Kuala Lumpur Tel No. : (603) 2788 9999 SHARE REGISTRAR Symphony Corporate Services Sdn Bhd (Registration No. 201201037454 (1021936-V)) S-4-04, The Gamuda Biz Suite Jalan Anggerik Vanilla 31/99, Kota Kemuning 40460 Shah Alam Selangor Tel No. : (6016) 439 7718 Fax No. : (603) 5131 9134 STOCK EXCHANGE LISTING Listed on Main Market of Bursa Malaysia Securities Berhad on 3 September 2012 Stock Name/Code : NEXG/5216 Stock Sector : Technology Stock Sub-Sector : Digital Services INVESTOR RELATIONS Sense Consultancy Group Sdn Bhd (Registration No. 201701018965 (1233130-M)) Email : group@leesense.com PRINCIPAL BANKER AmBank Islamic Berhad (Registration No. 199401009897 (295576-U)) 24th Floor, Bangunan AmBank Group No 55, Jalan Raja Chulan 50200 Kuala Lumpur Tel No. : (603) 2036 2633 Fax No. : (603) 2072 4360 Corporate Information (Cont’d)
ANNUAL REPORT 2025 ABOUT NexG 9 The Year At a Glance 4 June 2024 4 November 2024 3 December 2024 17 December 2024 30 June 2024 5 August 2024 29 October 2024 30 October 2024 5 June 2024 26 July 2024
ANNUAL REPORT 2025 ABOUT NexG 10 The Year At a Glance (Cont’d) 12 January 2025 17 January 2025 20 January 2025 28 January 2025 24 February 2025 20 February 2025 13 February 2025 13 March 2025 24 March 2025 26 March 2025 28 March 2025
ANNUAL REPORT 2025 ABOUT NexG 11 The Year At a Glance (Cont’d) 1 | 2024 Riang Ria Aidilfitri Datasonic Group Berhad 2 | 2024 Datasonic Media Luncheon 4 | 2024 Datasonic Media Engagement Programme - Splash n Dash 3 | 2024 Sumbangan Program Klinik Bola Sepak Komuniti Kelab Bola Sepak Akal Neraca (ANFC)
ANNUAL REPORT 2025 ABOUT NexG 12 The Year At a Glance (Cont’d) 6 | 2025 Mega CSR event - GODAMLah 5 | 2024 Sumbangan Bantuan Bencana Alam Tetuan Koperasi Imigresen Malaysia Berhad 7 | 2025 CSR Programme - NexG Trail Cleanup 8 | 2025 NexG Iftar Ramadhan
ANNUAL REPORT 2025 ABOUT NexG 13 Our Leadership Profile of Directors Key Senior Management’s Profile 14 23
ANNUAL REPORT 2025 OUR LEADERSHIP 14 DATUK HAJI HANIFAH BIN NOORDIN Executive Chairman and Chief Executive Officer Datuk Haji Hanifah graduated from University Malaya with an Honours Degree in Economics and subsequently qualified as a Chartered Accountant and Certified Public Accountant in 1976. He was a practising accountant for more than 20 years and was the Chairman and Managing Partner of Ernst & Whinney/Ernst & Young for 9 years. He also served as the President of the Malaysian Institute of Accountants (“MIA”) in 1987 and led the Institute for 13 years until 2000. Datuk Haji Hanifah is the Founder of NexG Berhad (“NexG”) (formerly known as Datasonic Group Berhad). He served as the first Managing Director of NexG until his retirement on 31 January 2020. Datuk Haji Hanifah returned to NexG on 14 September 2022 as the Deputy Executive Chairman and Chief Executive Officer and was later redesignated to Executive Chairman on 29 September 2022. On 26 July 2023, Datuk Haji Hanifah had offered himself to be redesignated from Executive Chairman to Executive Deputy Chairman/Chief Executive Officer in order for YM Tengku Dato’ Seri Abu Bakar Ahmad to assume the Executive Chairmanship on the same day. Subsequently, Datuk Haji Hanifah retired on 29 February 2024. Datuk Haji Hanifah rejoined NexG on 22 August 2024 as the Executive Deputy Chairman and Chief Executive Officer and was subsequently redesignated to Executive Chairman and Chief Executive Officer on 12 February 2025. Previously, he had also served on the boards of several public listed companies, government-linked companies and government committees. He does not hold any directorship in other public companies and listed companies. Date of Appointment 22 August 2024 Length of Service <1 year Date of Last Re-election Not Applicable Profile of Directors Male Malaysian Age 73 Board Committees Membership(s) • Employees’ Share Option Scheme Committee
ANNUAL REPORT 2025 OUR LEADERSHIP 15 Board Committees Membership(s) None TAN SRI DATO’ SERI MOHD KHAIRUL ADIB BIN ABD RAHMAN Executive Deputy Chairman Tan Sri Dato’ Seri Mohd Khairul Adib graduated with a Bachelor Science with Honours Degree from Universiti Kebangsaan Malaysia and has a Postgraduate Diploma in Public Management from Institut Tadbiran Awam Negara. He also holds a Masters in Public Policy from Saitama University, Japan under Japanese Government Scholarship. Tan Sri Dato’ Seri Mohd Khairul Adib last served as the Director-General of Public Service Department from 1 October 2019 to 16 January 2022. Prior to that, he was the Deputy Secretary-General of the Ministry of Transports (“MOT”) from August 2017 before he was promoted to Secretary-General of the MOT in January 2019. Tan Sri Dato’ Seri Mohd Khairul Adib served the Ministry of Entrepreneur Development, Ministry of Science, Technology and the Environment (“MOSTE”), Embassy of Malaysia in Japan and the High Commission of Malaysia in London. Upon his return, he served at the Ministry of Science, Technology and Innovation (“MOSTI”) followed by the Ministry of Education (“MOE”). Tan Sri Dato’ Seri Mohd Khairul Adib also served in various Boards including the Employee Provident Fund, Inland Revenue Board, Kumpulan Wang Persaraan (Diperbadankan), Malaysian Aviation Commission, Malaysia Airports Holding Berhad, Keretapi Tanah Melayu Berhad, Konsortium Pelabuhan Kemaman Sdn. Bhd., Malaysian Maritime Academy Sdn. Bhd., Malaysia Rail Link Sdn. Bhd., MyHSR Corporation Sdn. Bhd., Prasarana Malaysia Berhad, Bintulu Port Authority, Port Klang Authority, Johor Port Authority, Pelabuhan Tanjung Pelepas Sdn. Bhd., Railway Assets Corporation, Northern Gateway Sdn. Bhd., Razak School of Government, Bukit Kayu Hitam Development Sdn. Bhd., Civil Aviation Authority of Malaysia and Malaysian Qualifications Agency. Tan Sri Dato’ Seri Mohd Khairul Adib was appointed as an Independent Non-Executive Director of NexG Berhad on 22 November 2024 and subsequently he was redesignated to Executive Deputy Chairman on 28 March 2025. He also sits on the Board of Directors of Westports Holdings Berhad as an Independent Non-Executive Director. Date of Appointment 22 November 2024 Length of Service <1 year Date of Last Re-election Not Applicable Male Malaysian Age 63 Profile of Directors (Cont’d)
ANNUAL REPORT 2025 OUR LEADERSHIP 16 DATUK AB.HAMID BIN MOHAMAD HANIPAH Executive Director Datuk Ab.Hamid began his career as a government security officer in the year 1978 and left the civil service as Deputy Director General of Chief Government Security Office (“CGSO”), Prime Minister’s Department in April 2014. He attended several management and security courses at Royal Institute of Public Administration (“RIPA”) in London, INTAN Kuala Lumpur and special branch school. He has obtained Professional Diploma in Corporate Anti-Corruption Management from London Examination Board. He has contributed vastly in the development of Information Communication Technology (“ICT”) Security Policy and protective security covering training, directives of ICT Security and formulating manual Malaysian Public Sector Management of Information and Communication Technology Handbook (“MyMis”). He headed the security team during planning and construction of government complexes in Putrajaya. He sits on the board of several subsidiary companies of the Group. He is also a Director of Safe Shield Security Sdn Bhd. He does not hold any directorship in other public companies and listed companies. Date of Appointment 22 August 2024 Length of Service <1 year Date of Last Re-election Not Applicable Profile of Directors (Cont’d) Male Malaysian Age 71 Board Committees Membership(s) • Employees’ Share Option Scheme Committee • Sustainability Committee
ANNUAL REPORT 2025 OUR LEADERSHIP 17 PUAN HAJAH ERNA BT ISMAIL Executive Director and Chief Financial Officer Puan Hajah Erna bt Ismail brings over 21 years of comprehensive experience in financial management, commercial operations and strategic planning. Her expertise spans goal-setting, business focus and formulating competitive strategies, understanding of business trends and impact on financial performance. She began her professional journey in financial operations and asset management before progressing into a variety of leadership roles. Prior to joining NexG Berhad, she held the position of Financial Controller at Dagang Net Technologies Sdn Bhd, a pioneer in the development of paperless, electronic Customs services in Malaysia. Puan Hajah Erna has played a pivotal role in enhancing operational efficiency, generating tax savings and driving cost reductions. Additionally, she has led cross-functional initiatives centered on optimizing cost control and improving margin management. She holds a Bachelor in Business Administration (Hons.) Finance and a Diploma in Banking Studies, both from Universiti Teknologi MARA, which have provided her with a strong academic foundation for her contributions in the financial and corporate sectors. She sits on the board of several subsidiary companies of the Group. She also sits on the board of MMAG Holdings Berhad as Non-Independent Non-Executive Director. Date of Appointment 9 October 2024 Length of Service <1 year Date of Last Re-election Not Applicable Profile of Directors (Cont’d) Board Committees Membership(s) • Employees’ Share Option Scheme Committee • Chairperson of the Sustainability Committee Female Malaysian Age 47
ANNUAL REPORT 2025 OUR LEADERSHIP 18 DATUK PUVANESAN A/L SUBENTHIRAN Executive Director Datuk Puvanesan graduated from London South Bank University, United Kingdom with a Bachelor Degree in Accounting and Finance. He is a fellow member of the Association of Chartered Certified Accountants and member of the Malaysian Institute of Accountants. Datuk Puvanesan is one of the founding members of Privasia Technlogy Berhad (“Privasia”) and was appointed as the Group Chief Executive Officer and Managing Director of Privasia Group. Datuk Puvanesan was a senior in the Business Advisory and Assurance Department of BDO Simpsons Xavier in Ireland. Upon his return to Malaysia, Datuk Puvanesan held the position of Chief Financial Officer of the Makmal Jaya Group. Currently, Datuk Puvanesan is the Group Chief Executive Officer/Managing Director of Privasia Technology Berhad, a public company listed on the ACE Market of Bursa Malaysia Securities Berhad and he holds directorships in a number of private limited companies incorporated in Malaysia. Date of Appointment 12 November 2024 Length of Service <1 year Date of Last Re-election Not Applicable Board Committees Membership(s) • Sustainability Committee Male Malaysian Age 49 Profile of Directors (Cont’d)
ANNUAL REPORT 2025 OUR LEADERSHIP 19 DATO’ IBRAHIM BIN ABDULLAH Independent Non-Executive Director Dato’ Ibrahim graduated from National University of Malaysia (“UKM”) in 1981 with a Bachelor of Arts (Geography). He had joined the Public Service as an Assistant Secretary at the Ministry of Home Affairs in December 1981 and has since held various positions at the Ministry of Home Affairs, the Prime Minister Department, Jakim, Langkawi District, Immigration Department of Malaysia and the last position was the Deputy Director General of Immigration Department until June 2017. He does not hold any directorship in other public companies and listed companies. Date of Appointment 5 February 2020 Length of Service 5 years Date of Last Re-election 2 August 2023 Board Committees Membership(s) • Nomination and Remuneration Committee • Audit and Risk Management Committee Male Malaysian Age 68 Profile of Directors (Cont’d)
ANNUAL REPORT 2025 OUR LEADERSHIP 20 DATUK ZAINAL ABIDIN BIN ABU HASSAN Independent Non-Executive Director Datuk Zainal Abidin graduated with a Master of Public Administration from University of New Haven, Connecticut, USA. Datuk Zainal Abidin has had a distinguished career in public service and has held several prominent positions, including Secretary General in various ministries. His most recent role was served as Secretary General of the Ministry of Science, Technology, and Innovation from October 2021 to August 2022. Before that, he served as Secretary General of the Ministry of Housing and Local Government from March 2020 to October 2021. During his tenure as Secretary General, Datuk Zainal Abidin made significant contributions to national policies and development initiatives. He also held the position of Deputy Secretary General (Security) at the Ministry of Home Affairs from March 2019 to March 2020 and as Deputy Secretary General (Finance & Development) in the Prime Minister’s Department from June 2016 to March 2019. His leadership roles extend to Senior Division Secretary (Management) at the Ministry of Home Affairs, Deputy Director General at the National Civics Bureau, and Division Secretary at the Inspectorate Division of the Ministry of Urban Wellbeing, Housing and Local Government. In the Ministry of Higher Education, he held key positions, including Division Secretary of the Human Resource Management and Scholarship Divisions. Datuk Zainal Abidin has been actively involved in governance, serving on the boards of MIMOS Berhad, MRANTI, Malaysian Technology Development Corporation Sdn Bhd, CIDB, MAVCAP, MIGHT, SKMM, and PKNS. His dedication to public service has been recognised with awards such as the Commander of the Order of the Territorial Crown (P.M.W) and the Honorary Medal from the Fire Department. Datuk Zainal Abidin is a Trustee at Yayasan Inovasi Malaysia (“YIM”). Date of Appointment 12 November 2024 Length of Service <1 year Date of Last Re-election Not Applicable Male Malaysian Age 63 Board Committees Membership(s) • Chairman of the Nomination and Remuneration Committee • Chairman of the Employees’ Share Option Scheme Committee Profile of Directors (Cont’d)
ANNUAL REPORT 2025 OUR LEADERSHIP 21 DATO’ CHE NAZLI BINTI JAAPAR Independent Non-Executive Director Dato’ Che Nazli holds a Bachelor Degree in Business Administration (Finance) from University of Tulsa, U.S.A. and a Diploma in Public Management from National Institute of Public Administration, Malaysia. Dato’ Che Nazli had recently retired as the Undersecretary of the Tax Division at the Ministry of Finance (“MOF”), holding the position since February 2021. Prior to that, she was the Chief Operating Officer in SME Corporation Malaysia, Director of Human Resource Management Division at the Ministry of International Trade and Industry and Chief Administration Officer at the the National Palace. Dato’ Che Nazli has wide international exposure on Implementation of e-Invoicing: Mexico Experience (Mexico Tax Office), Tax Modelling (Australian Tax Office), Economic Policy Design (MOF Japan), Leadership and Strategic Change (University of Cambridge, UK), Innovation & Productivity in Public Administration (Switzerland), Leadership Development Program (London). She also actively involved in the Tax Conferences and Seminars organised by Inland Revenue Board, Chartered Tax Institute of Malaysia (“CTIM”), EY, KPMG and PWC as a speaker, panelist and moderator. Dato’ Che Nazli has played a key role as lead negotiator for Double Taxation Avoidance Agreement (“DTAA”) between Malaysia and Georgia, Russia and Maldives. Besides, she is also involved in negotiation for Mutual Agreement Procedure (“MAP”), Advance Pricing Arrangement (“APA”) and Bilateral Advance Pricing Arrangement (“BAPA”) with Canada, Japan, Korea, Denmark and Netherlands. Dato’ Che Nazli currently serves as an Independent Non-Executive Director of MMAG Holdings Berhad, Jati Tinggi Group Berhad, a public company listed on the ACE Market of Bursa Malaysia Securities Berhad and Infinity Logistics and Transport Ventures Limited, a public listed company in Hong Kong. Date of Appointment 14 January 2025 Length of Service < 1 year Date of Last Re-election Not Applicable Female Malaysian Age 61 Board Committees Membership(s) • Audit and Risk Management Committee Profile of Directors (Cont’d)
ANNUAL REPORT 2025 OUR LEADERSHIP 22 ADDITIONAL INFORMATION ON THE BOARD OF DIRECTORS Family Relationship with any Director and/or Major Shareholder None of the Directors have any family relationship with any Director and/or Major Shareholder of the Company. Conflict of Interest None of the Directors have any conflict of interest or potential conflict of interest, including interest in any competing business with the Company or its subsidiaries. Conviction for Offences None of the Directors have any conviction for offences within the past 5 years other than traffic offences, if any. MICHELLE YONG VOON SZE Independent Non-Executive Director Ms Michelle Yong graduated with a Bachelor of Science (Honours) in Applied Accounting (United Kingdom). She is a fellow member of the Association of Chartered Certified Accountants (“ACCA”), member of the Malaysian Institute of Accountants (“MIA”), the ASEAN CPA and the Chartered Tax Institute of Malaysia. She was a member of the ACCA’s Public Practice Committee since 2015 till 2000. She sits on the Board of Nexia International Asia Pacific region since 2023. She has been in the accountancy profession for more than 20 years. She started her career with Baker Tilly and subsequently with PricewaterhouseCoopers before joining Nexia SSY in 2008. She is experienced in the audit of companies representing a major cross-section of the various industries and sectors and is involved in Initial Public Offerings exercises, Due Diligence reviews as well as Securities Commission - appointed investigative audits. She is an approved auditor with license granted by the Ministry of Finance. She is also registered with the Audit Oversight Board of Malaysia and the Labuan Financial Services Authority, to audit public interest entities and companies incorporated in Labuan, respectively. She does not hold any directorship in other public companies and listed companies. Date of Appointment 2 August 2023 Length of Service > 1 year Date of Last Re-election 31 July 2024 Female Malaysian Age 48 Board Committees Membership(s) • Chairperson of the Audit and Risk Management Committee • Nomination and Remuneration Committee Public Sanction or Penalty None of the Directors have any public sanction or penalty imposed on them by any regulatory bodies during the financial year ended 31 March 2025. Number of Board Meetings attended in the financial year ended 31 March 2025 The details of the Directors’ attendance at Board meetings are set out on page 86 of the Annual Report. Profile of Directors (Cont’d)
ANNUAL REPORT 2025 OUR LEADERSHIP 23 DATO’ AHMAD SYAHRIL BIN ABDULLAH Executive Vice President - Corporate Strategic & Alliances Dato’ Ahmad Syahril bin Abdullah graduated from the University Malaya, having successfully attained his Bachelor of Business Administration, prior to completing his MBA from Asia eUniversity, Kuala Lumpur. Dato’ Ahmad Syahril has over 25 years of professional and corporate experience in sectors encompassing banking, planning, corporate sales and accounts, project management, business and marketing, as well as strategic and corporate services. He has held key roles within reputable organizations such as TIME dotCom, Pixelasia, and Dagang Nexchange, with his last leadership role being at Theta Edge Berhad. Previously, he had also served the predecessor company of Datasonic Group Berhad (now known as NexG Berhad) as Director of Business and Marketing from 2005 to 2007 before he left to pursue other opportunities. He does not hold any directorship in other public companies and listed companies. Date of Appointment 2 September 2024 Length of Service <1 year Key Senior Management’s Profile Male Malaysian Age 48 ENCIK MUHAYUDDIN BIN MUSA Senior Vice President - Manufacturing and International Sales Encik Muhayuddin graduated with a Bachelor of Commerce (Hons) degree from the Carleton University, Ottawa, Canada. He holds a Diploma, Grade 13 from Mack International Academy of Arts & Sciences, Toronto, Canada. He was appointed as Deputy Managing Director of Datasonic Technologies Sdn Bhd (formerly known as NexG Technologies Sdn Bhd) on 16 January 2023. He brings with him more than 25 years of senior management experience in various public listed companies in the printing, manufacturing and banking industries. Prior to this appointment, he was the Group Chief Executive Officer of Destini Berhad and Managing Director/Chief Executive Officer of Computer Forms (Malaysia) Berhad. Currently, he is also an Independent Non-Executive Director of Federal International Holdings Berhad. Date of Appointment 16 January 2023 Length of Service > 2 years Male Malaysian Age 63
ANNUAL REPORT 2025 OUR LEADERSHIP 24 Key Senior Management’s Profile (Cont’d) PUAN SAFIA ZULEIRA BINTI ABU HANIFAH Executive Vice President - Strategic Communications Puan Safia Zuleira binti Abu Hanifah graduated from LaSalle College of the Arts, Singapore with a Bachelor of Arts (Honours) degree. She also has a Diploma in Business from Monash College, Melbourne, Australia. She joined Dibena Enterprise Sdn Bhd in 2008 as Manager of Corporate Communications. Between February 2014 to August 2019, she was an Executive Director of Datasonic Group Berhad (now known as NexG Berhad). Currently, she is our Executive Vice President of Strategic Communications. She does not hold any directorship in other public companies and listed companies. Date of Appointment 30 May 2014 Length of Service 11 years Female Malaysian Age 38 MS JORRINE ANG PEI GAIK Chief Strategy Officer Ms Jorrine Ang Pei Gaik graduated with a Master in Business Administration from United Kingdom. She brings with her over 26 years of diverse professional experience, including more than a decade in Senior Management roles within public companies listed on Bursa Malaysia. She has demonstrated excellence in corporate strategy formulation, corporate finance, fund raising, and investment management. She also sits on the board of Globetronics Technology Berhad as an Independent Non-Executive Director. Date of Appointment 18 September 2024 Length of Service < 1 year Female Malaysian Age 52
ANNUAL REPORT 2025 OUR LEADERSHIP 25 Key Senior Management’s Profile (Cont’d) PUAN TALYA ZHOLEIKHA BINTI ABU HANIFAH Executive Vice President - Human Capital and Administration Puan Talya Zholeikha binti Abu Hanifah graduated from Open University of Malaysia (“OUM”) with an honours degree in Human Resource Management. She also holds a Certificate in Accouting from the Association of Chartered Certified Accountants. She began her career in 2000 with a firm of chartered accountant. In 2003, she joined HNA Sdn Bhd, a management and business consultancy company as Manager of Finance and Human Resource. She joined Dibena Enterprise Sdn Bhd in 2008 as Director of Human Resources and Administration and was subsequently promoted to Executive Director of Datasonic Technologies Sdn Bhd (formerly known as NexG Technologies Sdn Bhd) and Dibena Enterprise Sdn Bhd in 2009 and 2010 respectively. Between February 2014 to August 2019, she was an Executive Director of Datasonic Group Berhad (now known as NexG Berhad). Currently, she is our Executive Vice President of Human Capital and Administration. She does not hold any directorship in other public companies and listed companies. Date of Appointment 1 March 2008 Length of Service 17 years Female Malaysian Age 43 ENCIK ABDUL RAZAK BIN MOHD NORDIN Senior Vice President - Commercial Cards Encik Abdul Razak graduated in Masters in Business Administration (“MBA”) Islamic International University (“IIUM”). He was appointed as Director, Business Development and was appointed to his current position on 1 October 2023. Encik Abdul Razak brings with him 33 years of working experience in the Banking Sector and 20 years of Senior banking experience. His last role was as a Senior Executive Vice President of Malayan Banking Berhad (Maybank) in various roles: Head of Consumer Banking, Business IT & Operational Excellence, Head-Cards Maybank BII, Head-Virtual Banking and CEO - Uzbek Leasing International. He does not hold any directorship in other public companies and listed companies. Date of Appointment 1 April 2022 Length of Service 3 years Male Malaysian Age 62
ANNUAL REPORT 2025 OUR LEADERSHIP 26 Key Senior Management’s Profile (Cont’d) Family Relationship with any Director and/or Major Shareholder Puan Talya Zholeikha binti Abu Hanifah and Puan Safia Zuleira binti Abu Hanifah are the daughters of Datuk Haji Abu Hanifah bin Noordin, who is the Executive Chairman and Chief Executive Officer of the Company. Save as disclosed above, none of the Key Senior Management have any family relationship with any Director and/or Major Shareholder of the Company. Conflict of Interest None of the Key Senior Management have any conflict of interest or potential conflict of interest, including interest in any competing business with the Company or its subsidiaries. Conviction for Offences None of the Key Senior Management have any conviction for offences within the past 5 years other than traffic offences, if any. Public Sanction or Penalty None of the Key Senior Management have any public sanction or penalty imposed on them by any regulatory bodies during the financial year ended 31 March 2025. ADDITIONAL INFORMATION ON THE KEY SENIOR MANAGEMENT ENCIK MD DIAH BIN RAMLI Senior Vice President - Project Management Office Encik Md Diah graduated from Institut Teknologi MARA in 1983 with a Diploma in Applied Science majoring in Planting Industry and Management. He attended the Cranfield Global CEO Programme at Cranfield University School of Management, Bedfordshire, U.K and is a member of the Cranfield University Alumni. He began his career as a Plantation Assistant Manager at Harrisons Malaysian Plantation Berhad in 1983. Subsequently he joined FELCRA Settlers Cooperatives in 1985 as a Project and Marketing Assistant Manager. In 1992, he joined Dibena Enterprise Sdn Bhd in Sales and Marketing and was later promoted to Senior Manager in 2004. He has vast experience included involvement in various business and management portfolio within the Group. In 2005 he was appointed as Executive Director of Dibena Enterprise Sdn Bhd, the promoter and substantial shareholder of the NexG Group (formerly known as Datasonic Group). He was a Director of NexG Group (formerly known as Datasonic Group) from 2011 until 2019. He sits on the board of several subsidiary companies of the Group. He does not hold any directorship in other public companies and listed companies. Date of Appointment 17 January 2008 Length of Service 17 years Male Malaysian Age 64 ENCIK NORIRMAN BIN NORDIN Senior Vice President - Corporate Assurance Encik Norirman bin Nordin holds a Bachelor of Accounting and Finance (Hons) degree from the University of East London, United Kingdom. He is responsible for overseeing NexG’s integrity, governance, and assurance function in supporting the Audit Committee to obtain reasonable assurance on the effectiveness of the Group’s internal control system, as well as its compliance, fraud & corruption risk management activities. With over 18 years of extensive experience, his career encompasses a diverse range of sectors, including hospitality, plantation, property management, construction, takaful and manufacturing. Prior to joining NexG, he served as the Head of Corporate Assurance at Protasco Berhad and held the position of Assistant Vice President, Group Internal Audit at Themed Attractions Resorts & Hotels Sdn Bhd. Encik Norirman is a Certified Internal Auditor (“CIA”), accredited by the Global Institute of Internal Auditors, and a Certified Integrity Officer (“CeIO”). He is also a professional member of the Institute of Internal Auditors Malaysia. He does not hold any directorship in other public companies and listed companies. Date of Appointment 1 March 2023 Length of Service > 2 years Male Malaysian Age 41
Our Perspective Chairman’s Statement Management Discussion and Analysis 28 34
Chairman’s Statement ANNUAL REPORT2025 OUR PERSPECTIVE
ANNUAL REPORT 2025 ABOUT NexG 29 Chairman’s Statement (Cont’d) As the Executive Chairman of NexG Berhad, it is my honour to present to you the Annual Report for the financial year ended 31 March 2025 (“FY2025”). The Group delivered another record performance in FY2025, helped by improved operational efficiency and sustained demand for our products and services both in Malaysia and internationally. FY2025 revenue was RM373.45 million, a historical high. Profit attributable to owners of the Group (“net profit”) rose 25.6% to RM115.55 million, up from RM92.26 million a year ago. Notably, this was the first time the Group’s net profit exceeded the RM100 million mark. NexG is now focused on strategic investments that will catalyze our next phase of growth, laying the foundation for future exponential gains. Moving forward, we will focus into high-impact technology initiatives that accelerate innovation, sharpen operational efficiency, and unlock new growth avenues, thereby strengthening the Group’s longterm competitiveness and earnings potential. OUR PERSPECTIVE
ANNUAL REPORT 2025 OUR PERSPECTIVE 30 Chairman’s Statement (Cont’d) BUSINESS OVERVIEW The year was marked by several key operational achievements for the Group. We secured a one-year extension for our contract to supply passport chips to the Malaysian Government with an additional contract value of RM104.78 million. This extension has solidified our reputation as a leading player in the secure identity market and we are proud to continue our role as the trusted provider of passport solutions to the Immigration Department of Malaysia. NexG also secured a contract from the Ministry of Economy to rent out vending machines for the implementation of the People’s Income Initiative (“IPR”) programme. This two-year contract, worth over RM21 million, will see NexG support a key poverty eradication program that is designed to benefit thousands of households across Malaysia. In addition, we secured a 36-month contract from the Road Transport Department (“RTD”), worth RM21.52 million, to supply special category driving license cards. In June 2024, amid the boom in inbound tourism, Malaysia opened up autogate facilities to an additional 36 countries including all European Union countries, Bahrain, Qatar, Oman, Jordan, China, Canada, Hong Kong and Taiwan. NexG played a key role in customising the back-end system for Malaysia’s autogate system, ensuring the smooth implementation of this program. We will continue to roll out improvements to Malaysia’s autogate facilities, introducing new technologies and features such as facial recognition and bidirectional gates. As we continue to extend our track record in delivering mission-critical national projects for the Malaysian government, we are also pursuing the global expansion of our business. In FY2025, the Group achieved a milestone in the Indonesian market, clinching an RM30 million contract to supply smart cards to Perum Percetakan Negara Republik Indonesia (“PNRI”), under the Indonesian Ministry of State-Owned Enterprises. This contract positions NexG as a strategic partner of PNRI and paves the way for future growth in Indonesia’s rapidly growing smart card industry. In addition to the Group’s strong performance in FY2025, NexG has continued to strengthen its position as a key enabler of national digital infrastructure through several newly secured contracts. In February 2025, the Group was awarded a RM6.37 million contract by the Immigration Department of Malaysia for the comprehensive maintenance of Facial Live Capture (FLC) systems across all passport issuance and receiving offices nationwide. This three-year engagement underscores NexG’s continued contribution to enhancing border security and identity authentication capabilities. Additionally, NexG secured a three-year service agreement with Puspakom to implement an Electronic Reservation and Payment System (ERPS) for mobile inspection units, including MTS and MVS operations. Complementing this, the Group also commenced a contract with the Penang City Council for the maintenance of closed-circuit television (CCTV) systems, further expanding its footprint in urban security and surveillance infrastructure. Beyond FY2025, NexG has continued to build upon its track record of securing mission-critical national projects. Notably, the Group was awarded a RM9.97 million contract by the Civil Aviation Authority of Malaysia for the phased development, localisation, and integration of the Unmanned Aircraft System Traffic Management (UAS-TM) system (U1 and U2), running from March 2025 to March 2027. This initiative marks a strategic move into next-generation airspace solutions, aligning with the government’s broader vision for drone governance and smart mobility. In addition, NexG secured a contract from the Ministry of Domestic Trade and Cost of Living to enhance the MySubsidi Diesel system. These projects reflect the Group’s expanding role in supporting national digital infrastructure and public service optimisation. Passport chip supply contract extension (Malaysia) RTD special driving license card contract People’s Income Initiative (“IPR”) vending machine rental 2 years’s contract RM104.78 million «M21¬52 million RM21 million
ANNUAL REPORT 2025 OUR PERSPECTIVE 31 STRIDING TOWARDS SUSTAINABILITY At NexG, we believe that success is not just about financial growth, but also about creating a positive, lasting impact on society. In 2022, we introduced LIFE (Longevity + Impact + Future + Environment) as our motto in approaching sustainability. Since then, the Group has made major strides towards our sustainability goals. In December 2023, NexG became a constituent of the FTSE4Good Index Series, which measures the performance of companies demonstrating strong Environmental, Social and Governance (“ESG”) practices. Created by global index provider FTSE Russell, the FTSE4Good Index helps investors assess companies’ ESG practices across a wide range of sustainability issues. In FY2025, NexG’s FTSE Russell ESG rating improved to 3.6 from 3 in FY2024 and 2.5 in FY2023. This achievement is a testament to our commitment to ESG across the Group. Chairman’s Statement (Cont’d) People globally without official ID No digital identity record 850 1.1 million people billion people EMBRACING DIGITAL TRANSFORMATION NexG continues to remain at the forefront of delivering value to our stakeholders and supporting Malaysia’s digital economy aspirations. Malaysia is undergoing rapid digital transformation, driven by the Government’s Malaysia Digital Economy Blueprint (“MyDIGITAL”). MyDIGITAL aims to transform the country into a digitally-driven, high-income nation and a regional leader in the digital economy by 2030. A key component of MyDIGITAL is the National Digital ID initiative or MyDIGITAL ID. As the current supplier of the National Identity Card and Passport, we are positioned to play a pivotal role in the National Digital ID initiative, leveraging our expertise in secure identity solutions. Beyond Malaysia, demand for digital identity systems and broader digital transformation continues to grow. Take the Digital ID sector, for instance. According to estimates from the World Bank, approximately 850 million people around the world do not have an official ID. Many more do not have digitally verifiable identification, with at least 1.1 billion people who do not have a digital record of their identity. The benefits of Digital IDs are substantial and wide-ranging. For individuals, a Digital ID could prevent statelessness, unlock eligibility to targeted government aid and improve access to employment opportunities. Digital IDs could also improve access to financial services; i.e. through streamlined e-KYC systems. For both governments and the private sector, Digital IDs can deliver cost savings, improve efficiency and security and reduce fraud. Governments will be able to digitalise tax collection systems, deliver more effective and targeted subsidies and maintain trustworthy and accurate voter registry systems. To capitalise on these vast opportunities, NexG has embarked on a transformation plan that will see us emerge as a leader in physical and digital identity markets, both in Malaysia and beyond. NexG also reaffirmed our dedication to Corporate Social Responsibility (“CSR”) by contributing Zakat Korporat amounting to RM1,008,085.00 during the Ramadan Madani MAIWP: Majlis Iftar Bersama Asnaf 2025. The event, organised by Majlis Agama Islam Wilayah Persekutuan (“MAIWP”) at Dewan Perdana Felda, Kuala Lumpur, was graced by Minister of Religious Affairs, YB Senator Dato’ Setia Hj Mohd Na’im Mokhtar. By working with institutions like MAIWP, we aim to extend our reach beyond business operations and contribute meaningfully to those in need.
ANNUAL REPORT 2025 OUR PERSPECTIVE 32 EMBRACING DIGITAL TRANSFORMATION (CONT’D) The first step in the implementation of this transformation plan was the change of our name from Datasonic Group Berhad to NexG Berhad. This name change reflects our aim to be a leader in the integration of next-generation technologies, across government and commercial applications. In addition, NexG acquired Innov8tif Holdings Sdn Bhd (“Innov8tif”), a pioneer in AI-based e-KYC solutions with significant market shares in Malaysia’s telecommunications, banking and fintech sectors. Its solutions, such as deepfake detection, anti-fraud mechanisms and advanced document verification, have proven critical in combating identity fraud and ensuring integrity of digital identity systems. With Innov8tif, we are moving closer to our vision of an AI-based and digital-centric identity management ecosystem focusing on data and security, enabling us to deliver complete, secure end-to-end identity and security solutions for governments and enterprises. We intend to make further strategic investments to broaden our market presence, increase the Group’s portfolio of products and services, and accelerate our internal R&D activities. This is supported by the Group’s exercise to raise our share capital through a proposed private placement of up to 10% of the total number of issued NexG shares. As the placement shares will Chairman’s Statement (Cont’d) To Bumiputera investors to support growth 10% Private Placement only be placed to independent third-party Bumiputera investors, the exercise will increase the Group’s Bumiputera shareholding. This move will not only strengthen our financial capacity but is expected to broaden the types of projects available for NexG, as some of these projects require a higher percentage of Bumiputera shareholding. NexG has also reinforced its leadership team with several key appointments in FY2025. Tan Sri Dato’ Seri Mohd Khairul Adib bin Abd Rahman (“Tan Sri Adib”) was named Executive Deputy Chairman in March 2025, following his emergence as a substantial shareholder of the Group. Tan Sri Adib brings to NexG extensive governance and leadership experience across the public and private sectors. A civil servant for over 30 years, Tan Sri Adib served in various positions, including as Director-General of the Public Service Department and Secretary-General of the Ministry of Transport (“MOT”). He is currently an Independent Non-Executive Director of Westports Holdings Berhad and was previously on the Boards of Malaysia Airports Holding Berhad and MMAG Holdings Berhad.
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