Zetrix AI confirms suspension of RTD services

BURSA MALAYSIA, 5 OCTOBER 2026 —

Zetrix AI Bhd has confirmed that its services for the Road Transport Department (RTD) will be temporarily suspended effective October 5, 2026.

The company disclosed this development to Bursa Malaysia following a formal notice issued by the RTD on October 2, 2026, and subsequent media reports regarding the status of its contractual obligations.

The suspension of these critical public services stems from a significant financial dispute between the technology firm and the government agency. According to reports, Zetrix AI, formerly known as MyEG Services Bhd, failed to remit over RM200 million to the RTD. These funds were collected from the public for the renewal of road tax, driving licences, and traffic summonses.

The unremitted amount relates to the company’s three-year contract with the RTD, which commenced in May 2023. The failure to transfer these funds has resulted in the immediate halt of the digital services that millions of Malaysian drivers rely on for their daily administrative needs.

In response to the material nature of the announcement, Bursa Securities halted trading in Zetrix AI’s shares from 9:00 am to 10:00 am on Monday, October 5, 2026. This trading halt is a standard regulatory procedure designed to allow investors to digest significant news that may impact the share price before trading resumes. The exchange’s intervention underscores the potential volatility associated with the company’s operational and financial challenges.

Zetrix AI stated in its filing that it is currently engaged in discussions to resolve the issues with the RTD. The company indicated that it will make further announcements on any material developments as and when it is appropriate and/or necessary. This statement suggests that the suspension is intended to be temporary, pending a resolution to the financial discrepancy.

However, the specific terms of the ongoing discussions, including whether the RM200 million debt will be settled in full or through a negotiated payment plan, were not detailed in the initial announcement.

The incident highlights the critical role that private sector partners play in Malaysia’s digital government infrastructure. Zetrix AI, under its previous name MyEG Services, had been the primary digital platform for RTD transactions for several years. The contract, which began in May 2023, was part of a broader effort to digitize public services and reduce physical queues at RTD offices.

The reliance on a single private entity for such high-volume, high-value transactions exposes the public to service disruptions if the partner’s financial health or compliance status deteriorates.

The RM200 million figure represents a substantial sum, equivalent to a significant portion of the annual budget for many government departments. The funds in question were collected directly from citizens and businesses, meaning the RTD was effectively holding public money that was supposed to be transferred to the government’s accounts. The delay in remittance raises questions about the internal controls and financial oversight mechanisms in place during the contract period.

The Straits Times, a Singapore-based publication, reported on the financial services firm’s failure to transfer the funds, indicating that the issue had gained regional attention prior to the official suspension.

For the Malaysian market, the suspension serves as a reminder of the risks associated with government-linked digital service providers. While Zetrix AI is a listed company, its revenue stream is heavily dependent on its relationship with the RTD. The temporary suspension of services could lead to a backlog of transactions, potentially causing operational bottlenecks when services are restored.

Investors and market participants will be closely monitoring the company’s subsequent announcements for clarity on the timeline for service restoration and the resolution of the financial dispute.

The next step in this development will be the outcome of the discussions between Zetrix AI and the RTD. The company has committed to providing updates on material developments, which may include details on the settlement of the RM200 million debt and the specific conditions under which services will be reinstated.

Until such announcements are made, the suspension remains in effect, and the public is advised to monitor official channels for updates on the status of road tax, driving licence, and traffic summons services. The situation remains a focal point for both regulatory authorities and the investing public as they await further clarity on the resolution of this significant contractual breach.

Related: Zetrix AI Bhd · Road Transport Department (RTD) · Bursa Malaysia