Macmahon sells HK rail stake

Group sells 25% share of Express Rail Link project in Hong Kong to Leighton Asia.

Macmahon Holdings (MAH) has sold its 25% share of the Express Rail Link project in Hong Kong to Leighton Asia.

In a statement to the Australian Securities Exchange, Macmahon chief executive officer Ross Carroll said the sale marked the end of Macmahon’s legacy construction projects, allowing the company to focus solely on its mining business.

Macmahon also confirmed that works at the Trangie Nevertire Irrigation Scheme project in New South Wales are scheduled to be completed in the first week of November 2013. 

The group said the exit and completion of these two projects is not expected to have a material impact on its fiscal 2014 result. 

InvestSMART FORUM: Come and meet the team

We're loading up the van and going on tour from April to June, with events on the NSW central & north coast, the QLD mid-north coast and in Perth, Adelaide, Melbourne, Sydney and Canberra. Come and meet the team and take home simple strategies that you can use to build an investment portfolio to weather any storm. Book your spot here.

Want access to our latest research and new buy ideas?

Start a free 15 day trial and gain access to our research, recommendations and market-beating model portfolios.

Sign up for free

Related Articles