The government has filed a lawsuit against MyEG Sdn Bhd, a wholly-owned subsidiary of Zetrix AI Bhd, over an additional income tax assessment totalling RM353.13 million from the Inland Revenue Board (IRB).

In a Bursa Malaysia filing yesterday, Zetrix AI said the assessment relates to transfer pricing amounting to RM333.1 million and deemed interest worth RM20.02 million, including penalties, for the years of assessment from 2021 to 2023.

Zetrix AI also noted that it received a letter on the issue from IRB on Oct 28, which also notified MyEG of the government’s civil suit against it.

“MyEG is confident in the merits of its position and will take all necessary steps to safeguard its interests, including defending its position through the appropriate legal channels where necessary.