Zetrix Shares Drop In Early Trade Despite Potential Revenue Boost From Blockchain Platform

KUALA LUMPUR, July 7 (Bernama) -- Shares of Zetrix AI Bhd (formerly MY EG Services Bhd) dropped in early trade on Monday despite a potential revenue boost from its verifiable credentials (VC) applications under the government-mandated national blockchain platform.

At 10.15 am, the counter fell 3.5 sen to 96 sen, with a total of 22.79 million shares traded.

In a note last Friday, Maybank Investment Bank Bhd (Maybank IB) said Zetrix AI has “stellar revenue accretion potential” from its slew of VC applications under the Malaysia Blockchain Infrastructure platform launched on June 28, 2025, which the e-government services provider jointly developed with MIMOS Bhd to support both public and private sector applications.

“Built on the former’s proprietary Layer-1 blockchain, it aims to be a 'national backbone' for VC, supply‑chain traceability, and asset tokenisation.

“Applications that have gone live on the platform include MyDigital ID (digital identity verification for individuals) and MyGov (digital decentralisation/notarisation of government records),” Maybank IB said in a note.

The investment bank said the revenue accretion is expected to snowball further once the My Superapp goes live later this month.

“The app will allow Malaysia’s 40 million annual foreign visitors to digitise their passports/driving licenses for use in the country.

“Zetrix AI plans to charge RM100 per application, and despite being optional, revenue potential could be substantial even if a fraction of foreign visitors subscribe for the convenience,” it said.

-- BERNAMA