PuAS : ni Semua Salah Nons suka memberi rasuah

A classic of nep failure. At the of the day, sugar daddy i.e the people will bare the debts.


This post has been edited by icemanfx: May 26 2025, 02:50 PM

This the highway that we see bits and pieces near klia main highway?

1.3bil gone left only 22mil, very fishy

400+ mil false claims

got ppl just treat this as an open buffet. patutlah x siap sudah lingkup

ingat gomen kasi bail out :X

I remember in 2017 I always go to KWAP office cyberjaya for project, and seeing the progress, manatau dah berhenti

Isn't this ktards feverit highway?

That day I said MEX sucks, many tembak me and defend MEX.

Please someone just finish this project. X malu ke bawak VVIP pusing sini pusing sana? With this straight road to KLCC.

is very good highway actually, but the exit at kuchai lama is the worst LOL

Type M CEO

What do ya expect

raised 1.3b and left around 22 mil. This one, someone inside kuat makan, think can complete the highway with 22 mil left. Children the lesson here is simple, you can curi but make sure project complete.

It's a good highway but this part is MEX2 which is supposed to connect Putrajaya to KLIA

It used to be very empty but since mco ends, it is now very jammed especially near KL

Salah GPS.

Classic story of masuk pocket dulu, yang kerja jujur tinggal kemudian.

Main priority gone wrong.

MACC investigating RM416 million false claims and the shortfall to complete the project is RM900 million. Fuuuuuuuu.

no one stupid enough to take over this project

so how now? The raise fund from selling of bond?
now bankrupt liao.... how to pay the coupon and the bond ? GG la

govement backed ? then means tax payer are footing this bill loh.

the kuchai exit is bad because people try to enter the salak highway

for those going to Kuchai lama (NPE) or enter the KL-Seremban, no jam one.

but coming from MEX, frustrated at those driver, last second trying to exit the highway.

really pundek one.

Lots of companies and investments funds bought this bonds because it's toll road and this type of investment used to be sure stable and good returns

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

Sorry meant not motorcycle friendly

You drive abit and you see what I mean

I memang ride moto on MEX. Yeah I've seen people take corners very fast on MEX.

This post has been edited by JohnL77: May 26 2025, 04:48 PM

Later sure blame salahan org semanajung / malaya makan hasil bumi kenyalang tapi menteri sendiri masuk pokek

Bond is just priority creditor if company in distress/bankruptcy. But this time i'm surprise the bondholder didn't drag in Maju Holding boss as guarantor since it is not listed company.

Macam different entity from what i've read on the edge

MEX - Under MEX Sdn Bhd
MEX 2 - Under MEX 2 Sdn Bhd

Unless the bondholder who lend money for MEX 2 request for guarantor using MEX Sdn Bhd, then they can confiscate MEX to recover.

Most likely Amanat Lebuhraya Rakyat (ALR) will take over this MEX and MEX 2, issue bond using government as guarantor, finish up the highway, clean up the mess and give a longer concessionaire to recoup the losses.

They're incentivised or rather not discouraged to take racing lines. Sone corners wide and forgiving

Bad combo for rainy day, fast driver and heavy traffic

Agree with you, is different entity that issued the bonds.

What I am saying is extreme circumstance, if they decide to lift the corporate veil, it all leads back to one person. Millions disappeared, you mean us a the major shareholder and chairman, he has no idea what is happening in his own company, then i am a bit worried.

Either way MEX 2 is royally fcked. Now one is going to touch this toxic shet and it will remain idle. I don't think the GOMEN is in a hurry to revive it as well.

wait MACC investigate and recoup all the loses because of songlap, this will take at least few year. A bit same like 1MDB case.

Sad but true.

1.3 billion could have funded another mrt line

MEX was originally not opened to motorcycles

That’s why it was not built to cater for motorcyclists

Our minister back then charged it after it was opened because want to promote the use of motorcycles as a more fuel-efficient transportation option

Reality was in the early days, there were hardly any users of MEX and got motorcycle or not makes no difference

It became congested after MCO because a lot of new housing areas are now connected to it

1.3billion not coming from government pocket also, it is funded by bondholders.

but still not tahap invisible ships. billions spent. ship no where to be seen

but But But nanti bailout or revise contract gomen telan cost. And bond holders many are glc banks and epf too… our money

MEX dont have moto lane like KESAS? kesas one I see moto lane nice and big not like federal.

CEO apa type ye? 😏

So who is the songlaper? Cable besar sekali?

Asalkan ore yg dapat projek.

Korang Tau bikin highway meh?

Baik kito pegang. Janji semua kita pegang. Kerja siap Tak siap itu lain hari citer wokay?

government will not telan cost lah, the most creative way is to give longer concessionaire period to compensate the losses.

This is just MEX Putrajaya to KLIA, they can raise the tol rate, i doubt people would bising bising since it doesn't connect to any major cities and housing area.

bruh you see contractor company for toll highway many are type C...

After 60 years of merdeka still not enough time to learn?

Or we just ignorance and keep feeding the kleptomaniac for songlap coffers money?

Where got? You so lucky never have to use MEX.

But based on what you said, to complete this project, probably need to increase the toll rates or extend concession, then rakyat will suffer in the end.

This post has been edited by JohnL77: May 26 2025, 06:05 PM

mex mmg sucks. before pkp ok, now become like federal highway already

GOT, mostly from kucai lama stretch up to bkt jalil exit . why moto hate it?

Only a small portion of user who use this road will suffer, majority tourist taking grab from KL or local people travel overseas will foot the bill. So mana ada rakyat suffer?

If u mau toll free route, take the Kota Warisan route from Putrajaya then.

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

This cause suffering too.

ur noob. moto enter highway wrongly just turn 180 n exit from the onramp.

Gila.

tell that to the countless rempitula tat have cause me to freak out at said onramps

Me no fren dem.

https://theedgemalaysia.com/node/754944

wanna go KL why thru kota warisan?

article casually mentions "leakages" from the bonds to maju expresswAY COMPANY.

Leopard doesn't charge it's spot.

For reasons, foreigners include Arabs don't want to partner with type @.

Tongsan kan sudah mari, lu mahu kereta? Boleh bagi lu sampai siap, korang cuma perlu pasang jenama korang je.

Nak highway, boleh je. Jual tu tanah, nanti buat la highway tak yah se sesn pun. Cuma ingat bayar toll 100 tahun akan datang ya.

Owaiii...

And also must agree for highways that are taller than most buildings it pass thru

Maju Holding was the one suppose to take over PLUS during PH1.0 time? Must be Thanos Crony.

This post has been edited by Brotherjoe: May 26 2025, 06:40 PM

ironically, 1mdb wanted to follow this structure as well, with it's multiple subdi being listed with multiple bonds and million dollar loans

has he succeded, he would have been swimming in cash rolling debts and bonds endlessly

This post has been edited by DarkAeon: May 26 2025, 06:41 PM

Ppl always tell me that i need to pay for the fee to learn KL road. Kena few times near one utama. between LDP and the DASH. Always masuk DASH, I just want to uturn back to Kelana Jaya after shopping at IKEA. This happen during the era without Waze and had to rely on the confusing overhead signboard.

haha the trick is to learn the route on motorbike first

this reminds me back in 2004-2005 when my family stay at putrajaya.. back then damansara & KL area is quite foreign to me

but since I have a motorbike, I just rambo on and learn little by little.. always bring awek dating at damansara & KL area just to learn the route

yeah, GPS wasn't common back then, I still remember its around 2010-2012 that GPS common era begins..

dont exaggerate la. DASH only completed and open last year. Waze since at least 2017

Era, waste petrol, make a lot of uturn and stupid road sign that lead to you to the toll.

the article mentions that whoever take over the project want the original bondholders to take a 50% haircut. thats money invested from various pension funds, including our own. dont complain when no 6% dividend or ASNB give low dividend.

Where mentioned pension funds?


Fuuuuuuuuuuuuuuuu.

article doesnt mention who the bondholders are. but people who buy those bonds are usually institutional investors.

rm10 toll so what? thats cheap eventually, now a suke trip has normalized rm3.5 tolls at each gantry. RM7 tolls from city to wangsa maju is normal

This post has been edited by diffyhelman2: May 26 2025, 07:13 PM

RM10 for 1 toll isn't that far fetched decades from now

RM10 value might be like RM 1 is a very real prospect

as long as ppl still think getting 90% of a grape is more than getting 50% of a watermelon, we will be heading there

This post has been edited by DarkAeon: May 26 2025, 07:16 PM

later like the boustead shipyard, gomen take over, invite type c to complete the project LOL

local type C or real type C tongsan mali? owai

Article says RM10 toll today won't be enough to cover the coupon payments. Decades from now definitely will be more expensive than RM10.

Also, if there were no songlap, it could have been RM5 or RM6.

dik. what today? the bloody thing is still in ruins

Who design mex? Everyday the ext to bukit jalil jam teruk, from 6 lanes merged into 1 lane to enter mrr2 😡

that is their calculation to cover based on x duration to pay x amount of money in theory.
in article also mention "“The rule of thumb is less than 40 sen per kilometre. So, a toll rate of RM5 to RM6 will be reasonable.”
Moreover, if the toll rate becomes more expensive than other complementing highways, the expressway is likely to attract traffic only during peak periods.

you put mahal2 no one use, they also rugi. realisticly is to put it cheaper, increase the year of bond or something and review it again for another 5 years or so.