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ZETRIX AI Bhd faces the risk of payment default and potential liquidation if it fails to resolve breaches of its Sukuk Wakalah terms by Oct 22, with RM2.16 billion in outstanding coupon payments and principal involved.
In its response to a Bursa Malaysia query, the company said RM164.5 million in coupon payments remained outstanding and due on upcoming dates, while unpaid principal totalled RM2 billion.
In a filing to Bursa Malaysia yesterday, Zetrix said it would seek the consent or directions of sukukholders to waive the breaches if the matter remained unresolved by the deadline.
Failure to obtain the required waiver could lead to liquidation, the company said.
If liquidation occurs, the sukuk trustee may declare all accrued and unpaid amounts under the Sukuk Wakalah immediately due and payable up to the date of the declaration.
The trustee would also be entitled to enforce its rights under the transaction documents, potentially triggering immediate repayment of all outstanding amounts. - October 17, 2026