KUALA LUMPUR: Ultimate Print Sdn Bhd is set to invest between RM60 million and RM80 million in a strategic partnership with Turkish state mint Darphane to explore opportunities in high-security printing including the production of national identity cards (ICs) and passports.
Ultimate Print chief executive officer Azizi Fickry said subject to the security features selected by the government, the investment will be used to set up a printing plant as well as acquire advanced technology for the project.
"We are looking for high value security document printing such as the national IC and passport printing. With this, Malaysians can expect passports with enhanced security features at a more affordable price.
"Through the discussion with Darphane, we have earmarked RM60 million to RM80 million for this new venture," he said at the signing of a memorandum of understanding (MoU) between the two parties here today.
Ultimate Print has been a key player in security document printing since 2014, providing services to government agencies such as the police, Inland Revenue Board and Road Transport Department.
With the collaboration, the company plans to expand its capabilities to include banknotes, tax stamps, e-visas and other high-security documents.
Darphane, with its vast experience, will share its technological knowledge with Ultimate Print.
The signing was witnessed by Deputy Prime Minister Datuk Seri Fadillah Yusof and Karangkraf group advisor Datuk Hussamuddin Yaacub.
Darphane deputy general Mehmet Hekim said the partnership aligns with its vision of expanding its global footprint and contributing to the growth of the printing technology sector.
"Our expectation is to start production together. Initially, part of the production will occur in Darphane, with most production taking place at Ultimate Print.
"Within two years, we expect Ultimate Print to achieve full production capabilities, matching Darphane's standards and becoming self-sufficient in security printing," added Mehmet.