Bursa Malaysia Reprimands Zetrix AI, Directors Fined for Breaching Listing Requirements

Zetrix AI Bhd and seven of its directors have been reprimanded by Bursa Malaysia for breaching listing requirements. The company failed to ensure accurate announcements and complied with a directive to issue a clarification. Each of the seven directors was fined RM150,000.

Zetrix AI Bhd and seven of its directors have been reprimanded by Bursa Malaysia for breaching listing requirements. The company failed to ensure accurate announcements and complied with a directive to issue a clarification. Each of the seven directors was fined RM150,000 [1].

The incident revolves around a series of announcements made by Zetrix AI Bhd in 2023, which were later found to be inaccurate and misleading. The company claimed that it had received approval from the home and finance ministries to extend its role as the government revenue collection agent and provider of online services for the immigration department. However, these claims were found to be false and inconsistent with the actual contents of a notification letter from the home ministry.

Bursa Malaysia noted that Zetrix AI Bhd and its directors did not make an immediate announcement to clarify the inconsistency and continued to make false representations in subsequent announcements. This failure to ensure factual and accurate announcements led to the company being publicly reprimanded and fined.

The seven directors fined include Wong Thean Soon, Norraesah Mohamad, Jimmy Wong Abdullah, Wong Kok Chau, Mokhtar Shariff, Jeffrey Joakim, and Mohaini Yusof. The total fine amounts to RM1,050,000, with each director being fined RM150,000.

This incident highlights the importance of compliance with listing requirements and the need for transparency in corporate communications. Investors and stakeholders should closely monitor Zetrix AI Bhd's future announcements to ensure they are accurate and comply with regulatory requirements.

References:
[1] https://www.freemalaysiatoday.com/category/nation/2025/07/14/bursa-fines-7-zetrix-ai-directors-rm150000-each-for-directive-announcement-breach