Edge CEO Morning Brief Maju Expressway to Undertake

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Edge CEO Morning Brief Maju Expressway to Undertake

Edge CEO Morning Brief Section: News Ad Value: RM 5,741 17-Jun-2021 Size : 300cm2 PR Value: RM 17,224 Maju Expressway to undertake restructuring exercise to address liquidity issues Maju Expressway to undertake restructuring exercise to address liquidity issues BY JUSTIN LIM theedgemarkets.com KUALA LUMPUR (June 16): Maju Ex pressway Sdn Bhd (MESB) is undertaking a restructuring exercise that is expected to be completed by early August. “MESB is undertaking a restructuring exercise both at Mexl Capital Bhd as well as at its subsidiary MESB Sdn Bhd,M said NewParadigm Capital Markets Sdn Bhd, order that is in place as a result of the which links the Kuala Lumpur city centre the financial adviser for the restructuring Covid-19 pandemic,w it said. with Cyberjaya and Putrajaya. exercise. The sukuk holders are expected to vote Alliance Investment Bank Bhd is the The restructuring exercise would com on the restructuring exercise proposal by principal adviser/facility agent, while prehensively address the liquidity issues early July, said NewParadigm. Messrs Adnan Sundra & Low is the le faced by MESB resulting from the Cov “As part of the restructuring exercise, gal adviser. id-19 pandemic, a spokesman for New the principal repayment of RM50 million CIMB Investment Bank, the bond fa Paradigm said in a statement in response due on June 15 will be suspended. How cility agent, said in a filing with Bank Ne to an article on the matter in The Edge ever, all profit payments under the respec gara Malaysia's Fully Automated System yesterday. tive tranches remain current,M it added. for Issuing/Tendering (FAST) website that “lb provide context, Maju Expressway MESB, which is owned and operated MESB has defaulted on its RM50 million has been dealing with acutely lower traf by Maju Holdings Sdn Bhd, is the con bond principal after failing to redeem its fic volumes due to the movement control cessionaire of the 26km Maju Expressway, outstanding amount..

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Construction 15Oct15
CONSTRUCTION Sector report Toll hikes: NPV neutral impact 15 Oct 2015 OVERWEIGHT Mak Hoy Ken (Maintained) [email protected] 03-2036 2294 Rationale for report: Sector update Investment Highlights Higher toll rates from 15 October. The local press reported that toll charges for 18 highways in Malaysia will be raised between RM0.10 and RM3 effective from today. Out of this total, 12 are major highway concessions operating within the Klang Valley: Kuala Lumpur-Karak (KLK) Expressway, Maju Expressway (MEX), Kajang Dispersal Link Expressway (SILK), Duta-Ulu Kelang Expressway (DUKE), Stormwater Management and Road Tunnel (SMART), KL-Kuala Selangor Expressway (LATAR), Sungai Besi Highway (BESRAYA), New Pantai Expressway (NPE), Kajang Seremban Highway (LEKAS), Damansara Puchong Highway (LDP), Western Kuala Lumpur Traffic Dispersal Scheme (SPRINT) and Cheras- Kajang Highway (Grand Saga). Other highways that follow suit include the South Klang Valley Expressway (SKVE), Guthrie Corridor Expressway (GCE), Kemuning Shah Alam Highway (LKSA), Ampang Kuala Lumpur Elevated Highway (AKLEH), Senai Desaru Expressway (SDE) and Butterworth Outer Ring Road (LLB). Status quo for PLUS-owned highways. Altogether, toll rates for all eight highways under government-backed PLUS Expressway Bhd remained unchanged at this juncture. They are the North South Expressway (NSE), New Klang Valley Expressway (NKVE), Federal Highway Route 2, Seremban Port Dickson Highway, North South Expressway Central Link (ELITE), Second Link Malaysia Singapore (Linkedua), Butterworth Kulim Expressway (BKE) and Penang Bridge. Part of fiscal consolidation moves. We believe this is part of Malaysian government’s move to meet its budget deficit target of 3.2% for 2015 (2014: 3.5%) and support its sovereign rating amid a challenging global economic backdrop.
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949-956, 2011 Issn 1991-8178
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