PERFORMANCE It is for these reasons, and more, that the Group embarked on establishing the Malaysia-China AI Innovation and Cooperation Centre with Guangxi Beitou IT Innovation Technology Investment Group Co., Ltd. (“Beitou IT Innovation”). This flagship ASEAN China AI Lab, housed at Zetrix Tower, focuses on integrating blockchain, generative AI and robotics, with the first initiative being the mutual recognition of national digital IDs between Malaysia and China. The idea is to work together with the renowned entities across related fields to enable the convergence of AI, blockchain and robotics to bring to market advanced and intelligent technologies that are of immediate real-world use, and ultimately capable of powering the next phase of economic growth in the region. Under this trajectory, Zetrix AI, together with complementary collaborations to advance interoperable trade frameworks, is fast becoming a catalyst for trusted cross-border digital economies across ASEAN and beyond. These developments have pioneered niche, values-driven innovation through initiatives such as NurAI, which provides Muslim-majority nations with AI large language models aligned to cultural and ethical priorities. The NurAI model was built under the initiative of the ASEAN China AI Lab. By bridging technology with societal values, Zetrix AI demonstrates its ability to unlock new avenues of digital inclusion and sovereignty, particularly for the Global South. Meanwhile, practical innovations such as blockchain-powered e-Bank Guarantees, now being considered by Malaysia’s Ministry of Finance (“MOF”), illustrate the near-term commercial opportunities of its solutions in modernising financial instruments. Looking forward, Zetrix AI is strategically aligned with global megatrends, from net-zero carbon objectives and enabling supply chain transparency, to digital identity and data sovereignty. Its energy-efficient architecture, combined with deep collaborations with governments, enterprises and research institutions, positions Zetrix AI at the nexus of blockchain and AI innovation. With these foundations, Zetrix AI is poised to sustain its momentum as the premier Web3 ecosystem in the region, while continuing to shape the next era of trusted digital transformation. Zetrix AI remains steadfast in its mission to harness its technologies to fundamentally reshape the way governments, businesses and individuals interact across borders. FY2025 was particularly significant in advancing this vision with the Group strengthening its ecosystem through strategic alliances and partnerships, while also embarking on a transformative rebrand from MYEG to Zetrix AI. 2025 thus saw a year filled with noteworthy blockchain and AI-related business highlights and collaborations for the Group: In January 2025, CycleX a leading platform for tokenised investment opportunities, announced the upcoming launch of $CZTF. Backed by $ZETRIX as one of its core assets, this innovative fund represented a significant step forward in bridging blockchain technology with traditional and digital asset investments. The $CZTF issues tokenised investment units as ERC1400 tokens on the Ethereum blockchain, ensuring transparency, security, and efficiency for all investors. With a total fund size of USD1.5 million, the fund offers a unique blend of Real World Assets (“RWAs”) and crypto assets to deliver optimal returns. In the same month, a major advancement in the battle against online fraud was marked as the Group unveiled a partnership with MyDigital ID Solutions Sdn Bhd, a wholly-owned subsidiary of MIMOS Berhad, to establish a blockchain-powered national digital identity ecosystem, the MyDigital ID Superapp. The Superapp will provide a seamless, secure and scalable solution for integrating digital identity management for commercial service providers. It offers a comprehensive suite of tools, including an e-wallet, value-added services and an open innovation software development environment for businesses and service providers to leverage MyDigital ID. This initiative was particularly timely against the backdrop of growing momentum among policymakers and thought leaders across China–ASEAN platforms, who have repeatedly underscored the urgent need for interoperable digital standards and blockchain-enabled identity verification frameworks. Such measures are increasingly viewed as essential to strengthening online security, reducing fraud risks and enabling seamless cross-border digital transactions. In April 2025, Zetrix AI entered into a Memorandum of Understanding (“MOU”) with Huawei Technologies (Malaysia) Sdn. Bhd. (“Huawei Malaysia”) and Heitech Padu with the intent to work together for the purpose of Cloud and AI enabled smart government services cooperation. In this MOU, HeiTech Padu and Zetrix AI would provide application demand scenarios, and Huawei Malaysia would provide an AI platform and technology products and solutions to empower HeiTech Padu on a non-exclusive basis. MANAGEMENT DISCUSSION AND ANALYSIS (cont’d) PEORFVOERVMIAEWNCE 25
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