Politics · Singapore Bureau
Zetrix AI proposes plan to resolve $98.4m Malaysian remittance dispute
Technology company Zetrix AI has submitted a proposed solution to Malaysian authorities regarding nearly $100 million in outstanding remittances. The submission comes after the government suspended Zetrix AI and MyEG as collection agents for the Road Transport Department.
LSN Singapore ·
Zetrix AI has formally presented a remedial proposal to the Malaysian government in an effort to resolve the $98.4 million in outstanding remittances tied to Road Transport Department collections, according to sources familiar with the matter.
The initiative follows the government's decision to suspend both Zetrix AI and MyEG from their roles as authorised collection agents for the department. The suspension marked a significant development in the dispute over the accumulated funds, which have become a point of contention between the companies and regulatory authorities.
Details of the specific proposal have not been disclosed publicly, though the submission suggests Zetrix AI is pursuing a negotiated resolution rather than protracted legal action. The company's move signals an attempt to restore its standing with Malaysian government agencies and address concerns over the management of collected revenue.
MyEG, which was suspended alongside Zetrix AI, has not yet indicated whether it will pursue similar remedial measures. The outcome of Zetrix AI's proposal could set a precedent for how such disputes are resolved in Malaysia's transport administration sector.
The Road Transport Department has not yet publicly commented on the proposal or indicated a timeline for resolution.