Police Question Six Witnesses in MyEG and Zetrix AI Probe as JPJ Arrears Reach RM314 Million

Police Examine Alleged Failure to Transfer RM230.9 Million

Malaysian police have recorded statements from six witnesses in an investigation into an alleged failure to transfer RM230.9 million in government revenue involving MyEG and Zetrix AI Bhd. The investigation follows a police report received on October 7 and comes amid a separate government effort to recover RM314 million owed to the Road Transport Department (JPJ).

Datuk Rusdi Mohd Isa, director of Bukit Aman's Commercial Crime Investigation Department (CCID), said police had opened an investigation paper under Section 409 of the Penal Code. That provision concerns criminal breach of trust, an offence involving alleged misuse of property or money entrusted to a person in a specified capacity.

In his October 13 statement, Rusdi said investigators were examining documents and would question more people. He described the work completed so far:

So far, statements have been recorded from six witnesses to assist the investigation, and several other individuals will be summoned soon. Relevant documents have been received and are being examined while the investigation continues,

The more precise amount reported in connection with the police investigation is RM230,913,503.55. That figure is distinct from the RM314 million in JPJ arrears cited by Transport Minister Anthony Loke Siew Fook. The relationship between the two amounts has not been publicly explained in the statements described so far.

The opening of an investigation does not establish that an offence occurred. The six people questioned were described as witnesses, not as suspects or people facing charges. Police have not announced a completion date for their investigation or identified the additional individuals they intend to summon.

Why the Two Amounts Matter

The police case concerns an alleged failure to transfer collected government revenue. The Transport Ministry's action concerns outstanding payments from companies acting as JPJ collection agents. These are connected developments, but their stated financial totals should not be treated as interchangeable.

The RM314 million arrears figure covers collections made on JPJ's behalf between May and September. The ministry said the money remained unpaid despite repeated reminders. The police statement describes allegations involving about RM230.9 million without setting out the same collection period or a detailed breakdown.

Using the rounded figures, the amount under police investigation is about 73.5% of the reported JPJ arrears. The difference is approximately RM83.1 million. That calculation shows the size of the gap, but it does not establish whether the police case covers only part of the arrears, a particular transaction or a different accounting scope.

There is also a distinction between unpaid obligations and criminal liability. The government can pursue money it says is owed while investigators separately assess whether conduct connected with that money meets the requirements of a criminal offence. The current investigation should not be read as a finding against either company or any individual.

A Cheque, 35 Notices and Suspended Collection Services

Loke said Zetrix had received 35 notices seeking payment of the outstanding amount. He also said the company submitted a cheque for RM231 million in August, but the bank subsequently informed JPJ that it could not be processed on the company's instructions.

The cheque amount is close to the RM230.9 million cited in the police investigation. No public explanation described in the announcements establishes that the cheque and the allegation concern exactly the same sum. Nor has a reason been given for the instruction that prevented the cheque from being processed.

The Transport Ministry suspended MyEG and Zetrix as JPJ collection agents after the outstanding payments were not settled. The suspension concerns the collection of JPJ fees and summons payments. The group has also provided online processing for JPJ services, including road tax and driving licence renewals.

The immediate consequence is a loss of authority to perform the suspended collection role. Recovery of the outstanding funds is a separate task. Loke said the government would continue pursuing the arrears and could consider civil action, meaning court proceedings to seek repayment rather than a criminal prosecution.

MACC Will Act on Evidence of Corruption

The Malaysian Anti-Corruption Commission (MACC) said it also received an official complaint on October 7. It did not disclose the complainant's identity or the details of the complaint, and it has not confirmed whether its complaint and the police report were submitted by the same party.

MACC said the offences currently being investigated fall within police jurisdiction. Its announced role is to work with police to review and share information, with evidence indicating corruption to be referred to the commission for further action.

In its October 13 statement, MACC explained how that cooperation would work:

MACC will work closely with the police to review and share information in investigating the matter based on offences that fall under the police’s jurisdiction.

“The police will provide any information indicating elements of corruption for further action by MACC,

This sets out cooperation between agencies with different responsibilities. It does not amount to an announcement that investigators have already found corruption. MACC also welcomed further information from any party and said its investigations would be conducted independently, fairly and in accordance with the law.

How the Dispute Developed

The payment dispute spans several months, from the collection period identified by the ministry to the October complaints and witness interviews. The sequence helps distinguish the unpaid revenue issue from the later investigative steps.

• May to September: Collections made on JPJ's behalf accumulated into reported arrears of RM314 million.
• August: Zetrix submitted a RM231 million cheque. Loke said the bank later informed JPJ that it could not be processed on the company's instructions.
• Following the unpaid collections: The companies were suspended as JPJ collection agents after repeated payment reminders.
• October 7: Police received a report concerning government revenue transactions. MACC said it received an official complaint on the same date.
• October 13: Police announced that six witnesses had given statements and documents were being examined. MACC outlined its cooperation with police.

The precise suspension date was not specified in the accounts of these developments. No date has been announced for a charging decision, civil proceedings or the restoration of the suspended collection services.

Zetrix has submitted a proposal to address the arrears. The company said its immediate priority was to resolve the obligations and work towards restoring the services. The proposal's payment schedule, funding arrangements and conditions have not been disclosed, and no acceptance by the government has been announced.

A Longstanding JPJ Relationship Under Pressure

Zetrix AI Bhd was formerly known as MyEG Services Bhd. MyEG Sdn Bhd is identified as a company within the group involved in the collection arrangements. Some accounts use the former listed company name when describing the investigation, while others identify MyEG Sdn Bhd and its parent, Zetrix.

That naming distinction matters when following the case. The group's former name, its current listed company name and the name of an operating company should not be assumed to identify separate, unrelated businesses. The public statements do not yet set out each entity's precise responsibility for the transactions under examination.

The group has provided online processing of JPJ services since 2000. Its latest three year contract began in May 2023. The suspension therefore interrupts a longstanding government service relationship, rather than a newly established collection arrangement.

Restoring that role is one of the company's stated objectives. However, its proposal to resolve the arrears does not itself establish that the suspension will be lifted. The government has not announced the conditions for reinstatement or whether a repayment agreement has been reached.

Cash, Digital Assets and Borrowings

Zetrix's reported financial position provides context for the size of the arrears, without explaining why the collections went unpaid. At the end of June, the company held RM541.6 million in cash and RM532.9 million in digital assets, against RM2.19 billion in borrowings and more than RM90 million in trade payables, other payables and accruals.

The RM314 million arrears amount is equivalent to about 58% of the reported June cash balance. Cash and digital assets together totalled RM1.0745 billion, approximately 49% of the borrowings figure. These comparisons show scale, not the amount the company could immediately use to settle JPJ's claim.

The figures are a snapshot from the end of June, before the October investigation announcements. They do not establish the company's current cash balance, whether all cash was freely available or whether funds had other commitments.

Digital assets, described as cryptocurrencies, should also not be treated as equivalent to cash available for payment. Their reported value does not demonstrate how quickly they could be sold or what proceeds a sale would generate. None of these balance sheet figures establishes where the disputed collections went, which remains a matter for examination.

Shares Fall as Investigations Continue

Zetrix shares closed at 6.5 sen on the trading day covered by the October 13 reports, down one sen, or 13.33%, after reaching an intraday low of 6 sen. About 452.76 million shares changed hands, making it the most actively traded counter. The closing price valued the group at RM513.4 million.

The decline followed a selloff that began at the end of August. By October 5, the shares had fallen more than 90% in just over a month and reached a reported 13 year low of 6.5 sen. Reports connected that earlier selling pressure with forced selling involving major shareholder Wong Thean Soon, known as TS Wong.

Wong's stake fell from 29.955% to 6.438%, a reduction of 23.517 percentage points. Forced selling can occur when shares pledged against financing must be sold to meet a lender's requirements. The reported ownership change is relevant to the market pressure, but it does not establish any connection to the alleged failure to remit government revenue.

The next announced investigative steps are further witness interviews and continued examination of documents. Separately, the government is pursuing repayment, while MACC will act on information indicating corruption. The reason for the unprocessed cheque, the relationship between the two revenue figures and the outcome of Zetrix's repayment proposal remain unresolved.

Rusdi urged the public to avoid speculation and unverified claims that could mislead people or affect the investigation. He directed readers towards official information:

Therefore, the public is urged to obtain information only from official channels,

Key Points

• Police have questioned six witnesses over an alleged failure to transfer RM230.9 million in government revenue.
• The investigation began after an October 7 report and is proceeding under Section 409 of the Penal Code.
• The ministry separately cited RM314 million in JPJ arrears from May to September collections.
• Loke said 35 payment notices were issued and a RM231 million cheque could not be processed on the company's instructions.
• MyEG and Zetrix were suspended as JPJ collection agents, and Zetrix has submitted a proposal to resolve the arrears.
• MACC will share information with police and act on evidence indicating corruption.
• No investigation completion date or decision to restore the suspended services has been announced.