The MEX mess
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 May 26 2025, 03:29 PM
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#1
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Senior Member
1,372 posts Joined: Oct 2012 
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QUOTE(aurora97 @ May 26 2025, 03:08 PM) 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. 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. |
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May 26 2025, 04:34 PM
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#2
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Senior Member
1,372 posts Joined: Oct 2012
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QUOTE(aurora97 @ May 26 2025, 04:04 PM) 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. means purchase 100, get back Rm 50?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. 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 |
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