MACC stated that it will cooperate closely with the PDRM to examine the case and share relevant information. The commission noted a clear procedural pathway: if evidence indicating elements of corruption, bribery, or abuse of power emerges during the police inquiry, the relevant files will be referred to MACC for further enforcement action under its own mandate. The agency did not disclose the identity of the complainant or the specific details of the allegations filed on October 7.
The legal scrutiny follows a decisive administrative action by the government. On October 5, the Transport Ministry and the Road Transport Department (JPJ) suspended MyEG and Zetrix AI from their roles as collection agents for government revenue. The suspension was triggered by the companies’ failure to remit RM314 million collected on behalf of the JPJ between May 19 and September 30. Transport Minister Anthony Loke Siew Fook disclosed that the authorities had issued 35 reminders to settle the outstanding payments, which the companies failed to honor.
The minister further revealed a specific incident involving a RM231 million cheque issued by MyEG, which could not be processed after the company instructed the bank not to proceed with the payment. This development has raised questions about the companies’ financial integrity and their capacity to meet government obligations. In response to the suspension, Zetrix AI stated that it had submitted a proposed settlement to the government and is working to resolve its outstanding obligations and restore affected services, subject to regulatory approval.
The controversy has had immediate repercussions in the capital markets. As of the noon market break on Tuesday, Zetrix shares fell by 0.5 sen, or 6.67%, to 7 sen, valuing the group at RM552.8 million. The financial distress is evident in the company’s balance sheet as of end-June. The company reported holding RM541.6 million in cash and RM532.9 million in digital assets, specifically cryptocurrencies. However, these liquid and digital holdings are dwarfed by its liabilities, which include RM2.19 billion in borrowings and over RM90 million in trade payables, other payables, and accruals.
Zetrix, formerly known as MyEG Services Bhd, has provided online processing for JPJ services, such as road tax and driving licence renewals, since 2000. Its current three-year contract, which began in May 2023, has now been disrupted by the suspension. The Transport Ministry has indicated it will continue to pursue the arrears and may consider civil action to recover the funds.
In its statement, MACC urged the public not to speculate about the investigation or circulate unverified information that could jeopardize the investigative process. The commission emphasized its commitment to conducting any future inquiry independently, fairly, and in accordance with the law. Citizens with credible information regarding the transactions are encouraged to come forward to assist the authorities.
The next formal step in this matter rests with the police investigation. Should the PDRM identify conduct that constitutes an offense under the Malaysian Anti-Corruption Commission Act, the case will be transferred to MACC. Until such a referral occurs, the primary legal focus remains on the penal laws under police jurisdiction, while the government retains the option to pursue civil remedies for the unremitted revenue.
