Ministry confirms Zetrix AI owes JPJ over RM200mil
The firm previously known as MyEG has allegedly failed to remit money collected for road tax, driving licence renewals and traffic summonses since May 2023.
The transport ministry in Malaysia has officially confirmed that Zetrix AI, previously known as MyEG Services Bhd, owes the road transport department (JPJ) over RM200 million. The firm reportedly failed to transfer the funds collected from customers for vehicle road tax, driving licence renewals, and traffic summonses after its three-year contract with JPJ began in May 2023.
Zetrix AI, founded in 2000, was rebranded as Zetrix in July 2025 to signify its shift from an e-government services provider to a global technology infrastructure group. The company's latest annual report revealed RM95.5 million in payables, including trade payables, deposits received, and accruals, while its current liabilities stood at RM577.4 million and non-current liabilities at RM1.25 billion, primarily consisting of loans and borrowings.
In February, the International Finance Corporation, a private sector arm of the World Bank Group, acquired a RM156 million stake in Zetrix to aid the development of its technologies. However, external auditors have raised concerns over the company's escalating development costs, which have surged to more than RM3.7 billion, up from less than RM200 million in 2020.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 1 other outlet
- Ministry confirms Zetrix AI owes JPJ over RM200mil freemalaysiatoday.com
