Zetrix AI Bhd shares plunged about 30% to around eight sen on Monday, extending a dramatic sell-off that has erased more than 90% of the stock’s value since April, after the Transport Ministry revealed that outstanding government collections linked to the group totalled RM314 million — substantially higher than the RM200 million previously reported.
The stock had traded at around 90 sen in April, meaning its fall to eight sen represents a decline of approximately 91% in about six months.
At 11am, the counter was quoted at 7.5 sen, down four sen or nearly 35%, with 686.57 million shares traded, according to Bernama.
The latest selling came after Transport Minister Anthony Loke Siew Fook said RM314 million in government revenue collected by My E.G. Sdn Bhd and Zetrix AI had not been remitted to the Transport Ministry’s main collection account.
The arrears accumulated between May 19 and Sept 30, 2026, rather than over the entire three-year contract period as earlier reports had suggested.
The RM314 million figure is RM114 million, or 57%, higher than the RM200 million amount previously reported.
Friday’s close was 11.5 sen, meaning a move to eight sen on Monday would represent another decline of about 30.4% in a single session.
The scale of Monday’s selling suggests investors are reassessing not only the immediate loss of JPJ collection services but also the potential financial, liquidity and reputational implications of the RM314 million outstanding amount.
Attention will now turn to how quickly the company can resolve the arrears, whether JPJ will reinstate its collection services and what further disclosures Zetrix AI makes to Bursa Malaysia on the financial impact of the suspension.
