The prolonged internal turmoil that had long plagued NexG Berhad has finally come to an end as Malay corporate figure Datuk Ishak Ismail steps in to assume the role of Executive Chairman as well as the company’s largest shareholder. The development is seen as a significant turning point in ending the power struggle that was previously alleged to involve various vested interest groups within the security technology firm.
Previously, NexG was said to be facing a contest for influence among several parties, including Victor Chin Boon Long — a figure widely associated with aggressive takeovers of public-listed companies who had been appointed Chief Operating Officer — the group linked to lawyer Ruben, often referred to as “Mr R” of Hitech Padu, as well as a camp associated with the controversial Bestinet owner, Dato’ Sri Amin “Bangla”. These competing interests not only triggered internal instability but also raised concerns over the company’s strategic direction, particularly given its involvement in projects related to national identity systems.
However, the entry of Datuk Ishak Ismail as the largest shareholder with a 23.72% stake, equivalent to 827,495,449 shares — and with the potential to consolidate a further 10% stake — has drastically altered the balance of power. His position places him as the dominant figure in determining NexG’s policies and strategic direction, effectively ending the influence of factions that had previously shaped the company’s internal dynamics.
As such, Victor Chin, Ruben (Mr R), and Dato’ Sri Amin Bangla are no longer part of the current power structure.
Industry sources view the move as a “comprehensive clean-up”, noting that individuals and groups associated with past conflicts no longer hold influence within the present management structure. This transition also opens the way for the rebuilding of corporate governance with stronger structure and integrity.
NexG Meets National Security Standards
As a company involved in the development of identification card and passport technologies, NexG carries strategic importance to the country. Therefore, internal stability is critical. With the new restructuring in place, concerns related to security and system integrity are now seen to be easing, thereby restoring confidence among shareholders and stakeholders.
In the same development, Ishak Ismail has addressed various external allegations raised by certain parties, including non-governmental organisations and several academics. According to him, all NexG operations are conducted within a strict regulatory framework as a Bursa Malaysia-listed company, with every strategic decision undergoing transparent approval and disclosure processes.
He further stressed that proposals such as forensic audits or the suspension of government contracts cannot be made arbitrarily without legal basis and solid evidence. Statements not grounded in facts, he said, risk undermining confidence in critical national projects currently undertaken by the company.
On financial matters, NexG explained that the fair value losses raised were non-cash accounting adjustments in accordance with financial reporting standards, rather than actual losses of funds or any form of financial misconduct. This clarification is important to avoid misinterpretation that could negatively impact perceptions of the company’s financial position.
NexG Under New Management
NexG acknowledged that past issues linked to controversial individuals have been addressed. The company now operates under a newly constituted board of directors with a clear mandate to strengthen integrity, transparency, and discipline in management.
With the internal conflict resolved and new leadership strengthened, NexG is now seen to be on a more stable footing. Shareholders and the public are urged to place their trust in the new management to ensure the company continues to play a vital role in the national security technology sector.
The corporate battle may have ended, but the phase of recovery and rebuilding trust now becomes the main agenda — and under the leadership of Datuk Ishak Ismail, NexG appears ready to move into a stronger and more resilient new phase.
