{
  "id": 11387590,
  "title": "Zetrix owes over RM200m in RTD collections, report says",
  "url": "https://urgent.news/2026/10/02/zetrix-owes-over-rm200m-in-rtd-collections-report-says",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-02T07:14:24.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/news/nation/2026/10/1546148/zetrix-owes-over-rm200m-rtd-collections-report-says"
  },
  "original_language": "en",
  "account": "Zetrix AI Bhd, previously known as MyEG, faces a reported RM200 million debt in collections for the Road Transport Department (RTD), according to a recent report by The Straits Times. The Singapore-based outlet revealed that government documents showed Zetrix failed to deliver money collected for vehicle road tax renewals, driving licence renewals, and traffic summonses since May 2023, when its three-year contract began. A government official cited by the newspaper stated that the outstanding amount surpassed RM200 million by the end of September. The transport ministry is currently considering its next steps, aiming for a more dependable digital payment system while ensuring the overdue funds are settled. Zetrix, which has not yet responded to inquiries, was initially hired in 2000 to provide digital services for various government entities, including RTD and the Immigration Department. The company went public on Bursa Malaysia in 2025 and has since ventured into technology sectors, such as artificial intelligence and blockchain. MyDigital ID, the national digital identity management platform, now operates under Zetrix's blockchain technology. The Straits Times also disclosed that Zetrix's debt has surged to RM2.2 billion from RM160 million five years prior, with its net debt amounting to RM1.65 billion. The company's share price plummeted to RM0.165 on October 1, a 80% decrease since the beginning of the year. External auditors have highlighted Zetrix's development costs as a critical audit matter, with the amount reaching RM3.7 billion, compared to less than RM200 million in 2020. The New Straits Times has sought additional input from Zetrix regarding the matter.",
  "summary": "KUALA LUMPUR: Zetrix AI Bhd, formerly known as MyEG, is believed to owe the government more than RM200 million in collections made on behalf of the Road Transport Department (RTD), according to a report by The Straits Times today.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}