Pandan Member of Parliament, Datuk Seri Rafizi Ramli, has asserted that the ongoing dispute surrounding NexG transcends a mere business rivalry, involving matters of profound strategic importance to the nation. The former Economy Minister noted that while many observers perceive the situation as a corporate drama involving Victor Chin and share acquisition manoeuvres, the underlying implications are significantly more substantial.
Rafizi pointed out that Victor Chin is a well-integrated figure within the corporate ecosystem, known professionally for his expertise in fund-raising, restructuring shareholdings, and executing company takeovers to inflate market value. He explained that Chin is not an outsider but rather a seasoned player in a long-established financial landscape. Consequently, the MP suggested that the focus should shift from individual personalities to the broader systemic risks at play.
The former PKR Deputy President emphasised that NexG’s value is not solely financial but is rooted in its role managing critical national strategic assets. These include sensitive systems related to MyKad, international passports, foreign worker documentation, and various official identification protocols used by banks, government agencies, and even during electoral processes. He warned that when a private entity sits at the heart of the national identity infrastructure, those in control hold influence far beyond a typical corporate portfolio.
According to Rafizi, the primary concern is the vulnerability of such strategic assets to the whims of competing interest groups. He argued that the situation serves as a warning that the core issue is not limited to a few specific individuals. Instead, it highlights a flaw in the national system that allows vital infrastructure to become a pawn in corporate power struggles.
In a Facebook post shared on Monday, Rafizi urged the public and authorities not to view this as a simple narrative about stocks or business acquisitions. He concluded that the ease with which strategic assets can be contested by private parties indicates a systemic problem that requires urgent attention. The protection of national data and identity systems, he suggested, must be shielded from the instability of corporate tug-of-wars.
