IFSS Malaysia Eyes RM104.5 Million Annual Revenue from New Petaling Jaya Smart Card Facility
IFSS Malaysia’s new Petaling Jaya smart card facility aims for RM104.5M annual revenue. Produces payment cards, SIM cards & secure IDs for 110 banking customers globally.
IF Security Solution Sdn Bhd (IFSS Malaysia) has set an annual revenue target of RM104.5 million from its newly established smart card production facility in Petaling Jaya, as the company looks to capture growing demand for payment cards, SIM cards and secure identification products in both domestic and international markets.
The facility, known as the Regional Personalisation Services Centre (RPS Centre), was developed in partnership with Singapore-based payment solutions provider IF Security Solution Pte Ltd. It operates with equipment and project partners from Hong Kong and Macau, and currently serves 110 banking customers across more than 40 regions.
Capacity and Production Capabilities
IFSS Malaysia general manager Melvin Lee said the revenue target is based on an 80 per cent utilisation rate operating on a single shift, which gives the facility an annual production capacity of 40 million cards. Running two shifts would double that capacity to approximately 80 million cards per year, Lee said.
The RPS Centre is equipped with 10 production lines and provides end-to-end smart card manufacturing, personalisation and fulfilment services. Its customers span banks, financial technology companies, government institutions and telecommunications operators.
The facility’s product range covers:
- Credit, debit, prepaid and government cards
- Physical SIM cards and embedded SIMs for 4G and 5G networks
- Specialised cards made from metal, ceramic and gold
- LED-enabled cards and environmentally friendly cards using recycled materials
Multinational Customer Base in Sight
Lee said Malaysia’s electronics ecosystem, logistics infrastructure and experience in secure document production make it a cost-competitive manufacturing base for the industry.
He added that the company is targeting customers across Malaysia, Europe, Africa, Latin America and the Middle East through its partnership with IFSS.
The expansion comes as Malaysia is estimated to have more than 58 million active cards in circulation and 45 million SIM connections annually, reflecting substantial domestic demand alongside export opportunities.
