Zetrix AI Berhad (ZETRIX)

Zetrix AI Berhad — From Digital Bureaucracy to National Blockchain Infrastructure

If you still think of Zetrix AI Berhad (formerly MY E.G. Services Bhd / MYEG) as just a vehicle license renewal and foreign worker permit company, you may have missed the biggest corporate transformation story on Bursa Malaysia in 2025-2026.

On 3 July 2025, MYEG officially changed its name to Zetrix AI Berhad — not a mere cosmetic rebrand, but a declaration of a new identity. The company is transforming from a domestic e-government monopoly into a Layer-1 blockchain and AI infrastructure provider for Malaysia and ASEAN.

Three Phases of Business Evolution

• 📋 Phase 1 (1999–2020): Domestic e-government monopoly. Driver's license renewals, road tax, foreign worker permits. High-margin, low-growth — quasi-utility with government concession.
• ⛓️ Phase 2 (2020–2024): Zetrix blockchain platform launch. Digital identity (BID), Verifiable Credentials (VC), connectivity to China's Xinghuo BIF. Revenue diversification begins.
• 🤖 Phase 3 (2025–present): Rebrand to Zetrix AI Berhad. Blockchain becomes the dominant growth driver. Malaysia Blockchain Infrastructure (MBI) launched with MIMOS. IFC invests US$40 million. Ringgit stablecoin (RMJDT) launched. Plans for 2026 Nasdaq IPO of AI unit.

Business Segments

Shariah Compliance Status

✅ Shariah Compliant — certified by Malaysia's Securities Commission Shariah Advisory Council. Suitable for investors prioritising halal investments.

Key Management

Wong Thean Soon (Group Managing Director & Zetrix Co-Founder) holds 30.547% of shares — a significant commitment. He purchased an additional 9 million shares on 2 March 2026 in the open market (~RM0.75) — a positive insider confidence signal.

Q2 FY2026 (quarter ended 30 June 2026), announced on 24 August 2026, showed Zetrix AI Berhad continuing to post strong double-digit growth - revenue of RM426.7 million (up 38.6% YoY from RM307.9 million) and net profit of RM269.3 million (up 35.3% YoY from RM199.1 million). Compared with the prior quarter (Q1 FY2026: revenue RM386.3 million), Q2 revenue also rose ~10.5% QoQ - accelerating momentum after a mild Q1 dip.

For the first six months (H1 FY2026), net profit rose 42.0% YoY to RM540.58 million (from RM380.79 million), revenue rose 33.7% YoY to RM813.02 million (from RM607.88 million). This growth is driven by AI platform, Web3 services, and Zetrix blockchain token/node sales - no longer just the mature domestic e-government business.

Note: The Q2/H1 FY2026 figures above are sourced from corporate reporting (The Edge Malaysia, BusinessToday, 24 August 2026); Q2/H1/TTM EPS are estimates using the implied share count from the official Q1 FY2026 EPS (RM271.33 million / 3.50 sen = ~7.75 billion shares) - to be confirmed once the official quarterly filing syncs to our internal database.

Zetrix AI declared its first FY2026 interim dividend of 0.25 sen per share on 24 August 2026, payable 20 November 2026 - consistent with last year's Q2 interim dividend pattern (Q2 FY2025 was also 0.25 sen). The company's larger 'final' dividend is typically declared in Q4 (e.g. 2.89 sen paid March 2026 for FY2025). Trailing 12-month dividends (Q4 FY2025 + Q2 FY2026) total 3.14 sen per share.

At the current price of RM0.255 (after the >65% crash from forced selling in August-September 2026), the trailing dividend yield jumps to ~12.3% - a figure that looks very attractive. BUT it's important investors understand: this yield increase comes ENTIRELY from the share price collapse, NOT from any real increase in dividend payments. The actual sen amount paid has not changed materially from last year.