Zetrix arrears total RM314 million since May, Loke clarifies

Transport Minister Wee Ka Siong has clarified the timeline of Zetrix AI Bhd's financial arrears, stating that the company owes RM314 million in unpaid amounts accumulated since May 2024, contrary to earlier reports suggesting the debt extended to 2023.

When pressed on reports linking Zetrix to the Umno political party, Loke did not directly address the allegations. Instead, he chose to emphasise that he could confirm the Democratic Action Party (DAP) has no connection to the technology firm, deflecting the line of questioning.

The clarification comes amid ongoing scrutiny of Zetrix's financial obligations and corporate governance. The company, which appears to be involved in transport-related technology services, has faced mounting pressure over its substantial debt accumulation over recent months.

The minister's measured response suggests ongoing sensitivities surrounding the firm's ownership structure and potential political associations. Zetrix's arrears represent a significant financial concern for stakeholders awaiting resolution of the company's payment obligations.

No further details regarding settlement timelines or recovery measures have been disclosed at this stage.