Ishak Ismail now NexG's executive chairman; Abu Hanifah redesignated as deputy, remains group CEO

Saturday 24 Oct 2026

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KUALA LUMPUR (March 27): NexG Bhd's (KL:NEXG) largest shareholder Datuk Ishak Ismail is now its new executive chairman, while incumbent Datuk Abu Hanifah Noordin has been redesignated as deputy executive chairman. Abu Hanifah, who is also founder of NexG, remains its group chief executive officer.

Ishak was previously the group's non-independent and non-executive director, having emerged with a 20.4% stake in the group on March 4 via Raya Aviation Holdings Sdn Bhd. Raya Aviation is an air-cargo company controlled by Ishak's sons, Mohamad Yusof Ishak and Mohamad Najib Ishak.

Hanifah holds a 9.579% stake in NexG, the sole supplier of Malaysian passport booklets and identity cards. Formerly known as Datasonic Group Bhd, the group has been at the centre of allegations involving an attempted "corporate mafia" takeover.

In a statement, NexG said the changes are to streamline its leadership structure and to safeguard the group's role in critical national identity systems, including MyKad, passport infrastructure and biometric technologies.

Ishak said the revised structure reflects a close and collaborative partnership, as he pledged to work closely with Hanifah and the management team "to take the company forward". He also reaffirmed his confidence in Hanifah, describing him as the “right person” to steer the company forward. “I believe under his stewardship, the group is now back on the right track,” said Ishak.

According to Ishak, his investment in NexG reflects his commitment to supporting a Bumiputera-led technology company that plays a role in a tightly controlled national ecosystem, where identity documents are not produced independently but within government-controlled processes. “NexG provides the secure systems and technology, while personalisation and issuance remain fully within government control. This structure ensures the integrity and security of the system,” he said.

The group has now stabilised following a challenging period, he assured, with all contractual obligations, including mission-critical national programmes such as MyKad and passports, continuing to be fulfilled without delay.

The statement came following the conclusion of a short-lived boardroom tussle at NexG, which was revealed after the emergence of Ishak in the group as a major shareholder.

The standoff led to the suspension of Hanifah from his posts for about a week to facilitate an internal review of NexG's investments in quoted shares. The investments caused NexG to record a massive paper loss of RM145.6 million in its latest quarterly earnings, dragging it into the red. The episode ended following the resignation of seven directors and the subsequent reinstatement of Hanifah to his posts. Shortly after, Ishak and eight others were appointed in their stead.

“Malaysia has consistently maintained the issuance of its MyKad and passports without systemic failure or disruption. That reliability is built on long-term capability and experience, which NexG continues to support,” said Ishak.

Last month, NexG announced a net loss of RM130.88 million in the third quarter ended Dec 31, 2025. Its maiden quarterly loss was attributed to a fair value adjustment of about RM145.6 million.

Shares in NexG closed unchanged at 25.5 sen on Friday, valuing the group at RM947 million.

Edited ByTan Choe Choe

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