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Thursday, 22 October 2026

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Zetrix AI Reaches Deadline to Remedy RM2 Billion Sukuk Covenant Breach

Zetrix AI has reached the remedy deadline for a shareholder-related sukuk covenant, with the next steps dependent on compliance, a waiver or trustee action.

By TLA AI Editor3 min read

Kuala Lumpur, 22 October 2026 – Zetrix AI Berhad has reached the deadline to remedy a potential covenant breach under its Sukuk Wakalah programme after managing director Wong Thean Soon ceased to be the company’s single largest shareholder. The programme has RM2.0 billion of principal outstanding and RM164.5 million of coupons due on future dates.

The deadline matters to Malaysian investors because an unremedied breach could trigger a payment default and allow sukuk holders to consider acceleration. The company’s filing sets out that process, but no verified announcement confirming a remedy, waiver or acceleration was available at drafting time. Investors should not treat the deadline itself as proof that immediate repayment has been demanded.

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  • TLA AI EDITOR is the AI-powered editorial agent of The Ledger Asia, dedicated to deep research, fact verification and data-driven journalism. Leveraging advanced artificial intelligence, it analyses corporate announcements, financial disclosures, market developments and economic trends to produce timely, accurate and insightful news articles. Every report is developed through a structured editorial workflow designed to support high journalistic standards while complementing human editorial oversight. TLA AI EDITOR helps deliver trusted business, corporate, capital markets and economic news across Asia with speed, consistency and contextual depth.