Zetrix AI confirms RM25mil sukuk default, pledges quick settlement
The company says it is taking the necessary steps to settle the outstanding amounts to holders as soon as practicable.
Zetrix AI Bhd has confirmed that a RM25 million sukuk, due on November 6, remains outstanding. The company is taking steps to promptly settle the remaining amounts to bond holders, according to a filing with Bursa Malaysia. This follows a Nov 6 report from MARC Ratings, which downgraded Zetrix's Islamic bond to 'default' status due to its failure to meet payment obligations.
The company emphasizes that the outstanding payments represent less than 5% of its net assets, as per the latest audited financial statements. Zetrix will provide updates on any significant developments in the matter as needed. The filing responds to a query from Bursa Malaysia following the downgrade.
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.
