Zetrix AI must explain the RM3.7 bil development cost

BURSA SGX Home Edge Weekly Make The Edge Malaysia your preferred source on Google This article first appeared in The Edge Malaysia Weekly on September 21, 2026 - September 27, 2026

Zetrix AI Bhd (KL: ZETRIX ) was a darling of the stock market when it was still called MyEG Services Bhd. It was the pioneer in online government services transactions such as road tax and foreign maid renewals. At its peak, it had a market capitalisation of over RM6 billion. But once it lost its monopoly of those e-government services, it pivoted to new technology businesses like blockchain, artificial intelligence and other digital assets which, to be frank, few — including the market — could fathom. This probably explains why its market value has fallen to RM1.55 billion currently. At less than 20 sen a share, this former market darling is now effectively a penny stock.