Leighton Asia acquires John Holland’s Indonesian Operation and Thailand Rail Project

Leighton Asia Limited today announced it had signed an agreement with John Holland Asia Holdings Limited for the acquisition of PT John Holland Constructions Indonesia and 50% of a joint venture with Namprasert Construction Company Limited for a rail project in Thailand. Settlement is expected to be completed by 19 May.

The acquisition will add a further HK$1.3 billion (A$282 million) to Leighton Asia’s workload, taking the current work in hand to a record HK$5.2 billion (A$1.13 billion).

Leighton Asia’s Managing Director, Mr John Faulkner, said the purchase price of US$5.63 million (A$9.5 million) was based on net assets acquired. He said that in addition to the immediate increase in the company’s work in hand, the acquisition provided a great opportunity for the company to establish a strategic long-term presence in Indonesia and boost its experience in rail infrastructure.

John Holland’s Indonesian operation consists of two coal mining projects. The US$124.2 million (A$210 million) Sebuku coal mine project involves a five year contract for mining, and the design, construction, operation and maintenance of a coal preparation plant and coal handling facilities.

The US$35.8 million (A$61 million) Malinau coal mine contract involves mining 40,000 tonnes of coal per month for five years, as well as overburden removal, coal haulage and maintenance of the 80 kilometre haulage route.

The US$168.4 million (A$285.4 million) rail project in Thailand for the State Railway of Thailand involves the replacement of rail and sleepers along 564km of existing track, rehabilitation of existing sidings, construction of additional sidings and improvements to stations and bridges.

Leighton Asia Limited is a subsidiary of Australia’s largest services contractor and project developer, Leighton Holdings Limited.

Celebrating its 25th year of operation in Asia this year, Leighton Asia has become one of Asia’s largest broad-based construction contractors, with expertise in all aspects of civil, marine, building and foundation engineering and construction. It operates in Hong Kong, Malaysia, Thailand, Vietnam, the Philippines and China and has over 2,000 employees throughout the region.

ENDS.

For further information, please contact:

In Hong Kong
Chris Gordon
Corporate Communications Manager
Leighton Asia Limited
Phone: (852) 2823 1493
Mobile: (852) 9092 0827

In Australia
Justin Grogan
Manager, Investor and Media Relations
Leighton Holdings Limited
Phone: (61-2) 9925 6628
Mobile: (61) 0401 146 620