AVID Madani critic Datuk Eric See-To has taken a swipe at Transport Minister Anthony Loke Siew Fook who refused to entertain fresh calls to quit following failure of Zetrix AI Bhd (formerly My E.G. Services Bhd Services Bhd) to settle RM314 mil in collection payments owed to the Road Transport Department (JPJ).
The DAP secretary-general has described calls for his head to roll by cybertroopers a.k.a. ceplos as “illogical” given that his ministry has acted against the e-government service provider by demanding remittance of the money to the government.
“Ah Loke said he isn’t entertaining calls to resign over the Zetrix-MyEG controversy given he has actually already resigned,” jibed the former Barisan Nasional (BN) strategic communications deputy director.
“It’s just a conditional resignation, though. In other words, he hasn’t truly stepped down yet … when people tell him to resign, he can reply: ‘I’ve already resigned’. That’s quite a powerful concept.”
At the stock market, Zetrix AI was severely punished by investors as its share price nosedived a further 5 sen or 43.48% yesterday (Oct 5) with 1.37 billion shares exchanged hands to the ultra-penny stock level of 6.5 sen which is a 13-year low and with RM416 mil wiped out from its market capitalisation.
In a late media statement last night (Oct 5) Zetrix AI said it has submitted a proposed solution to the government to address its outstanding remittances.
“The group’s immediate priority is to resolve these obligations and work towards restoring the affected services, subject to the relevant approvals,” added the group which has since migrated from an e-government service provider into a blockchain/AI-powered outfit.
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Madani’s accountability questioned
Delving further, See-To who is deemed a ‘lieutenant’ to disgraced former premier Datuk Seri Najib Razak insinuated that Loke has opened up s bigger can of worms by correcting earlier media reports that Zetrix/MyEG owed JPJ “over RM200 mil” dating back three years.
Not only that the RM314 mil incurred over a four-month period from May 19 to Sept 30 this year is huge, this contradicted Loke’s earlier announcement to Bursa Malaysia that their contract as JPJ’s collection agent had been extended for three years from May 23, 2023, to May 22, 2026.
“If the contract announced to Bursa expired on May 22 this year, under which agreement did MyEG continue to act as JPJ’s collection agent after that date?” wondered See-To.
Was the contract quietly extended without any announcement? Or did JPJ authorise MyEG to collect public funds without a government contract?
Is allowing a private company to collect RM314 mil from the public without a contract – and without remitting payment to the government for four months – an example of good governance?
Echoing a similar sentiment, former DAP Bukit Bintang MP Wee Choo Keong questioned the credibility of both JPJ and Zetrix AI/MyEG in that the Transport Ministry (MOT) has stated that “the money collected was supposed to be remitted within ONE working day (T+1)”.
“So the question for Anthony Loke is simple: Why was a collection agent allowed to accumulate RM314 mil in un-remitted public revenue over more than four months?” queried the blogger-lawyer who ran as a Warisan candidate for Wangsa Maju in the 15th General Election (GE15).
4 MONTHS TO ACT — WHY WAS MyEG NOT SUSPENDED EARLIER?
Ah Loke now confirms that myeg/Zetrix failed to remit RM314 million in JPJ revenue collected from 19 May to 30 September 2026 — far higher than the RM200m+ earlier reported.
This was money collected from the rakyat on behalf of the Government, and MOT says it was supposed to be remitted within ONE working day.
So the question for Anthony Loke is simple:
Why was a collection agent allowed to accumulate RM314 MILLION in un-remitted public revenue over more than four months?
If 35 reminders were necessary, why was the facility not suspended much earlier? Who authorised it to continue collecting government revenue while the arrears kept mounting?
RM314 million of public money demands full accountability — not merely an explanation of what happened after the money was already outstanding.
@anthonyloke @MOTMalaysia @MOFmalaysia @SPRMMalaysia
#myeg #Zetrix #JPJ #MoT #AnthonyLoke
— Wee Choo Keong (@weechookeong) October 5, 2026
If 35 reminders were necessary, why was the facility not suspended much earlier? Who authorised it to continue collecting government revenue while the arrears kept mounting?
RM314 mil of public money demands full accountability – not merely an explanation of what happened after the money was already outstanding.
Elsewhere, fellow former DAP Jelutong MP Jeff Ooi ridiculed futile measures taken by MOT to recover money owed to JPJ by Zetrix AI/MyEG.
FMT (Free Malaysia Today) reports on the financial liquidity of Zetrix AI: Quote:
“Loke said his ministry and JPJ had taken steps to regain the collections, including holding four engagements with stakeholders since May, including the Finance Ministry.
“He also said the company previously known as MyEG Sdn Bhd had been issued 35 notices to transfer the (outstanding) amount.
“On Aug 21, the company submitted a cheque dated Sept 30 worth RM231 mil. However, when the cheque was credited on Sept 30, the bank said it could not process it on the company’s orders,” he said at a press conference here.
Meaning… a post-dated cheque that bounced from a listed company!!! Go figure!
At the end of the day, not only that Zetrix AI has breached the T+1 collection remittance rule set by the Finance Ministry (MOF), the bigger concern is how confident is the Madani government in recovering the said RM314 mil.
Given the liquidity crunch of sorts faced by the group with its current market cap of RM525 mil which is less than half of its JPJ debt value, See -To has demanded the Madani government to be truthful if there is a “bank guarantee, security deposit or collateral” in place to recover the dues.
If its contract had indeed expired in May 2026, how could the company continue to collect hundreds of millions of ringgit in government revenue after that date?
In the past, PH raised a hue and cry over Tabung Haji and the Al-Rawda investment, claiming there was only a personal guarantee – even though personal guarantees do carry legal weight in Saudi Arabia – so what is the government guarantee in the case of MyEG now?
If the Al-Rawda case was previously labelled an issue of poor governance warranting a MACC (Malaysian Anti-Corruption Commission) investigation, then under what category should this MOT-MyEG case fall? – Oct 6, 2026
