The fall of a crony capitalist
And how a toll-road empire comes undone.
Update: Added investment amounts in the Perwaja Steel section.
If I’m lucky, I’ll be able to push out a double newsletter; the second being one at night.
If being the operative word. And it’s PE-related one, so you’d want to keep an eye out for that.
Talk about the joys (and pain) of riding the news wave.
Monday’s newsletter took a stab at providing an overview of the political undercurrents in the country with some bearing to deal activity.
ICYMI 👇
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The Kuala Lumpur High Court has paved the way for a potential liquidation of Maju Holdings per a Tuesday report by The Edge.
The toll-road concessionaire, owned by politically-linked businessman Abu Sahid Mohamed, had its desperate bid for judicial management dismissed, closing the door on any hopes of restructuring amid mounting debts.
The ruling clears the path for a creditor’s winding-up petition to proceed on December 16, triggering a series of events that might erase Abu Sahid’s decades-long grip on Malaysia’s highway arteries.