On 2 October, 2026, the Straits Times Singapore, in a headline titled `Troubled UMNO-linked firm Zetrix owes Malaysian government over $63 million (~RM200 million) in collections: Source’ reported that – to quote ad verbatim - official documents seen by The Straits Times show that Zetrix AI failed to hand over money collected for the renewal of vehicle road tax, driving licences and traffic summonses from the very start of its three-year contract in May 2023.
In Chapter 9, Continuing Disclosure, Part E, Clarification, Confirmation or Denial of Rumours or Reports, it is clearly set out a listed corporation's strict obligation to respond to public information that could materially impact its share value or investor decisions.
If the rumour is true, the corporation must confirm it and disclose the material details.
If it is false, the corporation must explicitly deny it and provide enough factual data to clear up the misunderstanding.
A quick check on Bursa’s platform revealed that NO such announcements were made by Zetrix AI Bhd.
Did Zetrix AI Bhd flouted and disregarded Chapter 9 of Bursa’s Listing Requirements with the non disclosure?
On the same day, 2 October 2026, JPJ announced that Zetrix AI Bhd and My E.G. Sdn Bhd will have their services as collection agents for the Road Transport Department (JPJ) suspended from 5 Oct 2026.
Zetrix AI Bhd announced and confirmed on 5 Oct 2026 that the Road Transport Department services will be temporarily suspended with effect from 5 October 2026.
Was the contract with JPJ extended upon its expiry on 22 May 2026?
Zetrix AI Bhd does not appear to have disclosed any details as to the status of the contract upon its expiry on 22 May 2026.
Did Zetrix AI Bhd flouted and disregarded Chapter 9 of Bursa’s Listing Requirements with the non disclosure?
On 5 Oct 2026, the Transport Minister, in a press conference revealed that the amount owed was RM314 million in arrears accumulated since May 2026 to Sept 2026 and not RM200 million reportedly that was unpaid and accumulated from the very start of its 3 years contract from May 2023.
RM314 million collected from the ordinary rakyat who used the services of Zetrix AI Bhd for the period from May 2026 to Sept 2026!
If the contract was not extended upon its expiry, Zetrix AI Bhd appears to have continued in collecting illegally.
Did Zetrix AI Bhd reveal this and announced it to Bursa Malaysia?
Doesn’t appear so.
If RM314 million was collected by Zetrix AI Bhd for the 5 months from May 2026 to Sept 2026, without authorisation from JPJ, how much did Zetrix AI Bhd collected for the period when the contract started in May 2023 to April 2026?
A total of 35 months!
If Zetrix AI Bhd collected RM314 million for 5 months, would it be possible for Zetrix AI Bhd to have possibly collected RM2.2 billion during the period from May 2023 to April 2026, a total of 35 months (35/5 x 314 = 2,198)?
Probably Bursa Malaysia could request Zetrix AI Bhd to disclose how much they have collected and how much they have remitted to JPJ from the start of the contract in May 2023 to until May 2026 and how much remained outstanding and still owing to JPJ as at end of the contract in May 2026?
Bursa Malaysia probably should also request Zetrix AI Bhd to reveal and publicly disclose the terms of the contract agreement in terms of monies collected and time / duration which the company have to remit to JPJ.
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