KUALA LUMPUR (April 16): Zetrix AI Bhd (KL:ZETRIX) said it has been appointed to manage the registration and contribution processes of the Social Security Organisation’s (Socso) schemes for the informal sector.

The company, formerly known as MyEG Services Bhd, is the agent for Socso’s Self-Employment Social Security Scheme and Housewives’ Social Security Scheme with effect from Thursday, according to a bourse filing.

The Self-Employment Social Security Scheme protects individuals while carrying out their self-employment activities against contingencies arising from self-employment injuries, while the Housewives’ Social Security Scheme protects housewives while managing their households against domestic contingencies.

Under the appointment arrangement, Zetrix will professionally manage registration and contribution processes, while Socso is responsible for ensuring immediate processing of registration, contributions and coverage for the schemes.

Zetrix AI’s appointment as agent of the Self-Employment Social Security Scheme is for three years, until March 17, 2029, and for a one-year term for the Housewives’ Social Security Scheme, until March 17, 2027.

The tenures may be extended upon written notification or terminated by Socso “for whatever reason”, it noted.

Further details of the appointment were not disclosed in the filing. Zetrix AI noted the appointment agreement is not expected to have a material effect on its earnings for the financial year ending Dec 31, 2026.

Shares in Zetrix AI ended 3.5 sen or 4.43% higher at 82.5 sen on Thursday, valuing the company at RM6.65 billion.