Zetrix AI Bhd told Bursa Malaysia on October 7, 2026 that it owes Malaysia’s Road Transport Department (JPJ) RM314 million in collections it did not remit between May and September 2026. The disclosure confirms a liability at a listed digital payments and e-government services provider whose role as a JPJ collection agent remains suspended.
Key Facts At A Glance
- Zetrix AI confirmed RM314 million in unremitted JPJ collections covering May to September 2026.
- The amount is recorded as a payable in the balance sheet for the second quarter of the financial year ending December 31, 2026, and will also appear in the upcoming third-quarter results.
- JPJ suspended Zetrix AI and its subsidiary MyEG Sdn Bhd as collection agents from 12:01am on October 5, 2026.
- Revenue from JPJ services has stopped from October 5 until further notice.
- A RM231 million cheque dated September 30 did not clear after the company issued a stop-payment instruction.
- As of June 30, 2026, the company held RM541.6 million in cash and RM532.9 million in digital assets, against RM2.19 billion in borrowings.
- The Ministry of Transport and JPJ will initiate legal action to recover the full RM314 million.
Disclosure Follows Regulator’s Request For A Direct Answer
Zetrix AI Bhd has confirmed that it owes JPJ RM314 million in unremitted collections from May to September 2026. It said the liability has been recognised as a payable on its balance sheet. The confirmation came in a Bursa Malaysia filing after the exchange asked for a direct answer on the exact amount.
A day earlier, Zetrix AI had said it was still finalising the outstanding amount. Bursa Malaysia then asked the company to either confirm the figure cited by Transport Minister Anthony Loke or state the actual amount claimed. It also asked whether the amount had been recognised in the company’s financial statements.
In its reply, the company said the amount was recognised as a payable in the balance sheet for the second quarter of the financial year ending December 31, 2026, and will also be reflected in the upcoming third-quarter results. Zetrix AI said it still cannot say when the matter will be resolved, as discussions with JPJ are continuing. When asked to explain the earnings impact of the suspension, it said only that revenue from these services has stopped from October 5, 2026 until further notice.
Suspension And Government Recovery Action
JPJ announced on October 2 that the services of MyEG Sdn Bhd and Zetrix AI Bhd as collection agents under the MYEG Group would be suspended from 12:01am on October 5. Loke said the two companies had failed to remit RM314 million in revenue collected between May 19 and September 30, 2026. He added that the company was required to remit collections within one working day of each transaction.
According to Loke, MYEG issued a RM231 million cheque dated September 30, but the bank could not process the payment because of instructions from the company. The Ministry of Transport and JPJ will take legal action to recover the full RM314 million. Zetrix AI has said it submitted a proposed solution to the government. It has not disclosed the details.
The suspension affects services such as road tax and driving licence renewals and summons payments. Motorists can use JPJ counters, the MyJPJ app and the JPJ Public Portal, depending on the transaction.
Balance Sheet And Market Position
Zetrix AI’s unaudited second-quarter statements, for the period ended June 30, 2026, showed RM91.1 million in trade payables, other payables and accruals. The company held RM541.6 million in cash and RM532.9 million in cryptocurrency holdings, against RM2.19 billion in borrowings.
Zetrix AI, formerly MyEG Services Bhd, has processed JPJ services online since 2000. Its latest three-year contract began in May 2023. The company changed its name in 2025. Its shares closed at eight sen on October 7, giving it a market capitalisation of about RM645 million.