Zetrix AI shares fall after subsidiary receives RM353.13 million tax assessment
The assessment covers 2021, 2022 and 2023, with the company saying MyEG is confident in its position.
Shares in Zetrix AI Bhd dropped one sen to seven sen at 10.01 am on Oct 30, following an additional tax assessment of RM353.13 million for its wholly owned subsidiary, My EG Sdn Bhd.
Trading volume reached 174.57 million shares, making Zetrix AI the most actively traded counter during the early session.
Zetrix AI disclosed in a Bursa Malaysia filing that the Inland Revenue Board (IRB) had issued the subsidiary a tax bill comprising additional income tax of RM333.10 million and deemed interest of RM20.02 million, including penalties. The assessments cover 2021, 2022 and 2023.
The company said MyEG is confident about the merits of its position. It said MyEG will take all steps needed to protect its interests and use appropriate legal channels to defend its position if necessary.
