CYBERJAYA: Datasonic Group Bhd
is looking to triple the production of credit and debit cards to 10 million cards in a year in line with Bank Negara Malaysia's push for contactless cards.
It produces some 3 million cards now.
"The market potential is 40 million, we are eyeing about half of the market share by end of next year," said managing director Datuk Hanifah Noordin.
The central bank had announced a framework to replace the cards with better specifications.
He said the company had ramped up its capacity to meet the demand after it spent RM6mil for the facility expansion.
It was in talks with "other big banks" and foreign banks for card manufacturing. It has eight customers for the business now.
The division made a loss of RM2mil for the financial year ended March 31, 2015 against the group's total profits of RM71.8mil.
Customised smart card solutions is its main income contributor.
Limited time offer:
Just RM5 per month.
