KUALA LUMPUR (Oct 2): The Road Transport Department (JPJ) will suspend MyEG Sdn Bhd and Zetrix AI Bhd (KL:ZETRIX), both under MYEG Group, as its collection agents effective 12.01am on Oct 5, 2026.
In a statement after market close, JPJ said the decision was made after taking into account the companies’ compliance with the terms and conditions of their agreements, as well as outstanding obligations that have yet to be fulfilled or settled.
All JPJ services previously available through MYEG Group channels will also be suspended from the same date.
JPJ said its services will remain available through official channels, including JPJ counters, the MyJPJ app, the JPJ public portal and self-service kiosks. These include motor vehicle and driving licence renewals, learner’s driving licence applications, summons checks and payments, and vehicle ownership transfers.
“Bookings for the Computerised Law Test (KPP01) made through MyEG before Oct 5, 2026 will still be honoured. From Oct 5 onwards, new bookings and tests must be conducted at KPP test centres at driving institutes nationwide.
“For summons payments by non-Malaysian citizens at Malaysia-Singapore border entry points, JPJ mobile units will be available at the Sultan Abu Bakar Complex (KSAB) and Bangunan Sultan Iskandar (BSI) in Johor from 8am to 10pm,” JPJ said.
The department’s action came after a Straits Times report that Zetrix AI owes the government more than RM200 million in payments collected for vehicle road tax, driving licence renewals and traffic summonses since its three-year contract began in May 2023. The Transport Ministry was reportedly mulling its next step to establish a more reliable digital payment system and ensure that the money owed is paid.
The Transport Ministry confirmed the outstanding amount to The Edge.
Founded as MyEG Services Bhd in 2000, the company was a pioneer in providing online government services through its link-up with JPJ.
Zetrix AI’s latest annual report showed other payables of RM95.5 million, comprising items including trade payables, deposits received and accruals.
As at the end of June this year, the company had cash and cash equivalents of RM541.6 million. On the other side of the balance sheet, it had long-term loans and borrowings of RM1.34 billion and short-term debt commitments of RM853.06 million.
Zetrix AI’s non-current assets include RM3.73 billion in development costs. This figure had increased from RM2.85 billion as at Dec 30 last year.
Zetrix AI's shares tumbled as much as 6.5 sen, or 35%, to 10 sen on Friday, their lowest level in nearly 14 years on news of the amount owed to JPJ. The counter pared some of its losses to close at 11.5 sen, down five sen, or 30.3%, from Thursday’s close, giving the company a market capitalisation of RM929 million. Some 1.055 billion shares changed hands, making it the most actively traded stock on the exchange.
The sell-off of Zetrix AI's shares since late August has wiped out about RM4.4 billion, or 82.6%, of the company’s market value, which stood at RM5.33 billion when the shares were at 66 sen on Aug 26. The stock has fallen more than 85% since the start of the year.
Selling by its managing director, Wong Thean Soon, better known as TS Wong, has sharply reduced his stake in Zetrix AI. His stake fell from more than 30% at the end of August to 10.6% as of Thursday.