Zetrix AI submits proposed solution to Malaysian government on $98.4m outstanding remittances
Sign up now: Get insights on the biggest stories in Malaysia
The Malaysian government took action after MyEG and Zetrix AI failed to settle the outstanding amount despite receiving 35 reminders and being engaged by the authorities since May.
PHOTO: THE STAR/ASIA NEWS NETWORK
- Zetrix AI has proposed a solution to settle RM314 million in unpaid remittances to the Malaysian government and aims to restore suspended JPJ services.
- The suspension of Zetrix AI and MyEG services was due to failure to remit revenue collected from May to September 2026, despite 35 reminders from authorities.
- Zetrix AI expressed regret over service disruption, assured customers their previous transactions were processed, and shares dropped 43.48% following the announcement.
AI generated
KUALA LUMPUR – Zetrix AI said it has submitted a proposed solution to the government to address its outstanding remittances for consideration.
In a statement, it said the group’s immediate priority is to resolve the outstanding obligations and work towards restoring the affected services, subject to the relevant approvals.
On Oct 2, the Road Transport Department (JPJ) announced that services provided by MyEG and Zetrix AI, as collection agents under the MYEG Group, would be suspended from 12.01 am on Oct 5.
Earlier, Transport Minister Anthony Loke was reported as saying that the services of MyEG and Zetrix AI, as government revenue collection agents under the MYEG Group, were suspended after they failed to remit RM314 million (S$98.4 million) in revenue collected between May 19 and Sept 30 to the government.
He said the government took action after the companies failed to settle the outstanding amount despite receiving 35 reminders and being engaged by the authorities since May.
Loke said MYEG had issued a cheque for RM231 million dated Sept 30, but the payment could not be processed by the bank following instructions from the company.
Zetrix AI said it deeply regretted the inconvenience caused to customers and the public by the temporary suspension of JPJ services, which took effect today.
“As a provider of JPJ services since 2000, we understand the importance of ensuring these essential services remain accessible, reliable and convenient for the public.
“The group recognises its responsibility to customers and remains committed to fulfilling its obligations to the government,” it said.
Zetrix AI said customers who had accessed the affected JPJ services before the suspension on Oct 5 could be assured that their transactions had been duly processed and fulfilled.
At the close, Zetrix AI shares fell five sen, or 43.48%, to 6.5 sen, with 13.73 million shares traded. Bernama