Mohd Khairul Adib emerges as substantial shareholder in NexG

KUALA LUMPUR: Tan Sri Mohd Khairul Adib Abd Rahman is now a substantial shareholder of NexG Bhd, previously known as Datasonic Group Bhd.

In a filing with Bursa Malaysia, NexG said Mohd Khairul Adib held a 6.1% stake in the company after acquiring shares in Kuantum Juang Sdn Bhd.

A separate filing with Bursa Malaysia showed that Mohd Khairul Adib had acquired 291.4 million warrants, representing 20.9% of NexG's outstanding warrants.

Meanwhile, NexG announced that Dato Safian Mohd Yunus is no longer a substantial shareholder after ceasing to hold a major stake in Kuantum Juang Sdn Bhd.

"As we pursue our transformation plan to become a leader in physical and digital identity markets and contribute to Malaysia’s digital transformation, Mohd Khairul Adib's vast leadership experience will be an invaluable asset to the group.

“With the support of our new shareholders and leadership, we are positioning ourselves as an instrumental partner in national level digital transformation projects such as MyDigital ID and the Digital Economy Blueprint,” executive chairman & chief executive officer Datuk Hanifah Noordin said.

Mohd Khairul Adib was named an independent non-executive director of NexG on Nov 22, 2024.

He brings to the Board a distinguished career spanning 34 years in the Malaysian Civil Service, including roles such as Director-General of the Public Service Department and Secretary-General of the Ministry of Transport (MOT).

Separately, it was announced that Mohd Khairul Adib had resigned from the board of MMAG Holdings Bhd to pursue other interests.