IFSS targets RM104.5mil revenue from PJ smart cards plant

PETALING JAYA: IF Security Solution Sdn Bhd (IFSS Malaysia) has targeted annual revenue of about RM104.5 million from its new smart card production facility in Petaling Jaya.

The company said it has an annual capacity of 40 million cards on a single shift.

The Regional Personalisation Services Centre (RPS Centre) can scale production to about 80 million cards annually with two shifts.

This will position the company to tap growing demand for payment cards, SIM cards and secure identification products.

IFF Malaysia general manager Melvin Lee said the revenue target was based on an 80 per cent utilisation rate on a single shift.

The facility is expected to strengthen the country's position as a competitive base for smart card production.

The facility was developed in partnership with Singapore-based payment solutions provider IF Security Solution Pte Ltd.

It serves 110 banking customers across more than 40 regions, alongside equipment and project partners from Hong Kong and Macau.

Equipped with 10 production lines, the centre provides end-to-end smart card manufacturing, personalisation and fulfilment services for banks, financial technology companies, government institutions and telecommunications operators.

Its product range includes credit, debit, prepaid and government cards, as well as physical SIM cards and embedded SIMs for 4G and 5G networks.

The facility also produces specialised cards made from materials such as metal, ceramic and gold, alongside LED-enabled and environmentally friendly cards using recycled materials.

Lee said Malaysia offers a cost-competitive manufacturing base supported by its electronics ecosystem, logistics infrastructure and experience in secure document production.

IFSS Malaysia's expansion comes amid demand for smart cards in both domestic and international markets.

Malaysia is estimated to have more than 58 million active cards in circulation and 45 million SIM connections annually.

"Working with IFSS, our technology partner, we are targeting a multinational customer base across Malaysia, Europe, Africa, Latin America and the Middle East," Lee said.