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.

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.

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.

1.3 billion could have funded another mrt line

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

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.

Uh.... the current toll ends at exit to Putrajaya. To put another toll for Mex 2 is pure suicidal, as KL folks will have to pay THREE tolls just to go KLIA. Currently already consider insane with FOUR tolls (MEX - 2, Lingkaran Putrajaya- 1, ELITE - 1), forcing some people to use the longer (but free) Kota Warisan route....