Last time office kat cyber, the MEX2 construction bikin jam only so everyday I was wishing for them to hurry up and finish the damn thing.

MCO happened and company closed down cyberjaya office so I didn't have to go there since.

After 5 years, I probably go Cyberjaya 2-5 times a year and I realized there is no progress at all.

Rupa rupanya it's kes songlap

Malaysia oh Malaysia.

billion and billion so many projects also same fate, how long can we go on like this

This story is exactly why you won't want regime change.

Make sure you keep vote the same party.

For continuing and perpetuality of the project.

Sepang folks learnt the hard way, let's hope other states or cities don't have to learn the hard way

PH 1.0 killed the company? :X

Whoever the gov now, keep support. Unless you want to see something fail.

Anyways Madani not bad, really improved many things in my area.

PLUS wanted to takeover but told the bondholders, you guys take a 50% haircut. Bondholder told PLUS to FK off, we rather go broke. PLUS said okay, over to you GOMEN.

GOMEN said oh shyet, ball back in my court. I dont think the GOMEN is keen on footing the bill but most likely will give a longer concession to whoever willing to pick up the tab.

My best guess is, i think they will go after the trustee of the bond or maybe the lead arranger CImb Investment bank?? (not sure if they can), assuming they didn't check properly and release payment to MEX 2 without verifying? sure they will go after the one with money.

Tak bagus ke bawa VVIP tengok banjir kilat di Kota Wawasan.... oh wait.

yeah.. some ppl dont get the memo. mau makan also cerdik sikit lah. this makan until terang like this also bodo one kind.

You always have one or two greedy ones lar. The smart one makan sikit sikit, lama menjadi bukit than you have the ones that cant wait, satu kali RM 40b, apa nama that fella jibai or something?

The old days people want to songlap, they set up a lot of ghost company, proxy, nominee, so many layer, you dont even know who is in control, but of coz have to pay the middle man but nowadays young ppl impatient, dah jadi PM, want to be Finance Minister and chairman of the entity.

So you see mentality very different.

bondholders won't take the hair cut, problem now the MEX 2 is not bankruptcy status and hanging there. Only government can step in and solve the issue.

Ini Maju Holding boss Abu Sahid dulu lagi mau take over PLUS during year 2019, sendiri punya MEX also run like shit.

They went YOLO

Let me guess, your ride instead of driving on it right?

Yes some places too fast

It's a good place to test the speed of your car on Sunday morning

Virtually no cars at all and you can really speed but there are plenty of speed traps there too

My complaint was - There's a lot more ways to enter MEX than to exit MEX. If you accidentally entered MEX, the next exit is at least 10km away. Last year I had to detour 20km because I accidentally entered MEX.

I guess technically it's an expressway so it shouldn't have many exits, but even that SUKE is not so bad.

https://forum.lowyat.net/index.php?showtopic=5492892&hl=

This post has been edited by JohnL77: May 26 2025, 04:36 PM

means purchase 100, get back Rm 50?

damn...we thought bond is secure. couldnt be more wrong.
the coupon rate is probably 2-3 % higher than FD. not worth the risk man

My viewlar, GOMEN should compulsorily acquire MEX and confiscate personal property/asset/cash to compensate MEX2 Bondholders, its attributed by the mismanagement in the company that this shit is stinking up the entire KL.

After that the difference, will be absorb by the white knight with some haircut if needed but not 50%lar, come on...

Yalar, all this Alibaba talk cock and blow air only, their strategy no different from PE company actually. Go in the company and strip the company all of its assets and run it to the group. Classic case of American Red Lobster chain, business not doing well, PE company come in. Most of their property they buy, so what happen is the PE company make Red Lobster to sell all their property to PE company on a "sale-leaseback" arrangement. The rental alone to the PE company is nuts. In the end they ran it to the ground.

yes is very ugly landscape... disgusting to look at

50% haircut was just example, cause the Edge article said more than 50%... so you are on point but it could be purchase 100 and get back RM 20. Somehow people say bonds are safe but after MEX2 and Credit Suisee, I probably would risk it with stocks.

"The abandoned MEX II project had been on the government’s radar for more than a year. Several existing toll road concessionaires were approached to assess the incomplete project, with PLUS Malaysia Bhd believed to be among them. Sources indicate that PLUS was willing to take over MEX II, but only if bondholders agreed to a significant haircut.

“The offer on the table required bondholders to take a haircut of more than 50%. This did not go down well with the bondholders,” says a bondholder. “They felt that taking a ‘haircut’ on their debts would not solve the problems as long as there was no change in the people responsible for completing the highway. The bondholders turned the pressure on R&M to come up with a solution.”

Source:https://theedgemalaysia.com/node/754944

Ah yes that one very true

But it's not motorcycle. Too many high speed stretches for cars to sapu a motor