Zetrix AI faces Bursa disclosure order ahead of Malaysia deadline
Malaysia’s market regulator has given Zetrix AI Bhd until 11 Nov to clarify its financial position, dividend arrears, and several governance and operational issues putting growing pressure on the company. The order comes as the group faces the effects of its suspension as a collection agent for the Road Transport Department (JPJ), government payment claims, and major changes to its board and external audit.
Highlights
- Bursa Malaysia Securities Bhd directed Zetrix to disclose material information relating to payment claims from JPJ and LHDN, and the impact of its suspension as a JPJ agent.
- The disclosures must cover the failure to pay the 2025 final dividend, the withdrawal of the 2026 interim dividend, and the resignations of all independent directors and the external auditor.
- Zetrix must pay the outstanding cash dividend (2.89 sen per share for FY2025) to unaffected shareholders by 23 Nov at the latest, with potential regulatory action if it fails to do so.
This article was translated from the original. Read the original version by our correspondent here.
Scope of the order and immediate compliance
The Edge Malaysia reported that Bursa Malaysia Securities Bhd had directed Zetrix to disclose material information relating to remittances owed to the Road Transport Department, payment claims from JPJ and the Inland Revenue Board (LHDN), and the financial and operational impact of its suspension as a JPJ collection agent.The required disclosures also cover the failure to pay the final dividend for 2025, the withdrawal of the interim dividend announced for 2026, the resignations of all independent directors and the external auditor, and the company’s employee share option scheme. In a filing, Zetrix said it would take the necessary steps to make the required material disclosures by 11 Nov 2026 at the latest, and that further announcements would be made if there were any material developments.
The disclosure deadline is separate from Bursa Securities’ directive that the outstanding cash dividend be paid promptly to shareholders unaffected by legal proceedings, and no later than 23 Nov. In a filing last Friday, the company said it had received a directive dated 6 Nov requiring it to comply with listing requirements concerning the one-tier final dividend of 2.89 sen per share for the financial year ended 31 Dec 2025.
Zetrix said it would take the necessary steps to facilitate payment to unaffected shareholders. Bursa Securities said it viewed the developments seriously and that regulatory action, including enforcement proceedings, could be taken if a breach were established after the facts and supporting evidence had been reviewed and procedural requirements met.
Previously, we reported that JPJ suspended Zetrix AI and MyEG as collection agents from 5 Oct following their failure to remit more than RM200 million since May 2023.
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