KUALA LUMPUR: Ultimate Print Sdn Bhd plans to invest between RM60 million and RM80 million in a partnership with Turkish state mint Darphane 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.
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.
Meanwhile, Fadillah said the partnership is set to advance Malaysia's digital transformation in the printing industry.
It will not only strengthen bilateral relations between the two countries but also enhance the sharing of expertise and technology.
"The Malaysia-Turkey relationship is indeed close, especially between Prime Minister Datuk Seri Anwar Ibrahim and the president of Turkey."
"And this is a relationship between two companies, where Turkey will bring their latest technology to Malaysia. I see this as a positive step towards national digital transformation," he told reporters.
Turkish ambassador to Malaysia Emir Salim Yuksel lauded the growing economic and strategic partnership between the two nations, noting that Malaysia became one of Turkey's most prominent Asean trade partners when the two countries upgraded to comprehensive strategic partners in 2022.
"Malaysia is an important partner for Turkey. We aim to deepen our cooperation across sectors, including technology, science, and defense technologies.
"Security grade printing and security materials is also another issue which involves high technology. I mean, this is not a simple issue. That is why we would like to become at the same level with Malaysia so that we can jointly work together for the greater good of our countries," Emir added.