Ministry confirms Zetrix AI owes JPJ over RM200mil

Ministry confirms Zetrix AI owes JPJ over RM200mil

PETALING JAYA: The transport ministry has reportedly confirmed that financial services firm Zetrix AI owes the road transport department (JPJ) more than RM200 million.

Zetrix AI, previously known as MyEG Services Bhd, allegedly failed to remit money collected from customers for vehicle road tax, driving licence renewals and traffic summonses.

The Edge quoted a transport ministry spokesman as confirming the amount.

This follows a report by Singapore’s Straits Times claiming that Zetrix failed to transfer the funds after its three-year contract with JPJ began in May 2023.

The Singaporean news outlet quoted a government official as saying the outstanding amount was “well over RM200 million” as of the end of September, and that the transport ministry was reportedly mulling its next steps.

MyEG was founded in 2000 and appointed that same year to provide online government services, including vehicle road tax and insurance renewals through its link-up with JPJ.

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It was rebranded as Zetrix in July 2025 to reflect its transition from an e-government services provider to a global technology infrastructure group.

The company’s latest annual report showed other payables of RM95.5 million, comprising trade payables, deposits received and accruals.

Its current liabilities stood at RM577.4 million, while non-current liabilities totalled RM1.25 billion, with loans and borrowings making up most of the liabilities.

In February, the International Finance Corporation, the private sector arm of the World Bank Group, took a RM156 million stake in Zetrix to support the development of its technologies.

However, external auditors flagged the company’s rising development costs as a key issue. The costs exceeded RM3.7 billion, compared with less than RM200 million in 2020, according to Straits Times.