Company Announcements Office
The Australian Stock Exchange
Level 4
20 Bridge Street
Sydney NSW 2000

Re: Leighton Asia Restructure To Provide Platform For Further Growth

Dear Sir,

Please find attached a copy of a media release to be issued today by Leighton Holdings Limited.

Yours faithfully


A.J. MOIR
Company Secretary

Leighton Asia Restructure To Provide Platform For Further Growth

Issue Date: 17 July 2002
Issued by: Leighton Holdings Limited

Leighton Holdings Limited today announced a restructure of its wholly owned subsidiary Leighton Asia Limited, to facilitate the continued expansion of its operations in the region.

Leighton Holdings’ Chief Executive, Mr Wal King AM, said that Leighton Asia, under the leadership of John Faulkner has doubled in size over the past five years and achieved a far broader footprint across the region.

“Leighton Asia currently has approximately $1.4 billion worth of work in hand and on-going operations in Malaysia, Indonesia and the Philippines as well as its long-term base in Hong Kong and Thailand. It has continued to maintain a presence in Vietnam, re-established a presence in China and Singapore and has recently been awarded its first work in Taiwan.

“We are now building a platform for the continued expansion of Leighton Asia’s operations. A plan is being implemented to separate the current operations of Leighton Asia into two companies – Leighton Asia (Northern) and Leighton Asia (Southern),” said Mr King.

“The key objective is to provide greater management strength and focus to enable the businesses to continue growing. Will Hamilton has been promoted to the role of Managing Director Northern and will be responsible for operations in Hong Kong, China, Taiwan, Vietnam, the Philippines and Thailand.

“David Savage has been promoted to the role of Managing Director Southern and his areas of responsibility will include Malaysia, Singapore and Indonesia. I would like to congratulate both Will and David on their appointments” he said.

“The outlook for building, engineering and mining opportunities across Asia remains positive with most markets forecast to recover over the next year or two from the recent global slowdown. This restructure aims to position Leighton Asia to profit from this recovery and to maintain its position as one of Asia’s leading construction and engineering companies,” said Mr King.

John Faulkner will be relocating to Leighton Holdings in Sydney by the end of the year.

In his revised role, he will have a strong focus on strategic growth plans for Asia and other growth and operational activities for the Group in Australia. Will Hamilton and David Savage will continue to report to John Faulkner.

Attached: Biographies for Will Hamilton and David Savage

Issued by:
Leighton Holdings Limited
A.C.N. 004 482 982  A.B.N. 57 004 482 982

For further information:
MR WAL KING
Chief Executive Officer
Ph:  (02) 9925 6912

MR DIETER ADAMSAS
Deputy Chief Executive Officer & CFO

Ph:  (02) 9925 6923

Biographies
Will Hamilton, Managing Director, Leighton Asia (Northern)
Will Hamilton has over 25 years experience in the construction industry throughout Australia and South-East Asia.

 

Mr Hamilton joined Leighton Asia in Hong Kong in 1988.  Since then he has held various senior management positions with the company throughout Asia. He spent eight years based in Bangkok as Director and General Manager of Thai Leighton, a role that encompassed Leighton’s activities in Thailand, Vietnam, Laos and India.

Mr Hamilton returned to Hong Kong in 2001 as Deputy Managing Director of Leighton Asia’s Northern Region. In his new role as Managing Director of Leighton Asia (Northern), Mr Hamilton has responsibility for all Leighton’s activities in Hong Kong, China, Taiwan, the Philippines, Thailand and Indo-China.

Mr Hamilton holds a Bachelor degree in Civil Engineering from the University of Adelaide, Australia. He is a Director of Leighton Asia Limited.

David Savage, Managing Director, Leighton Asia (Southern)
David Savage has held senior executive roles in the construction industry in Asia for more than 15 years.

Mr Savage joined Leighton Asia in 1998 as Director and General Manager of Leighton Contractors (Malaysia) Sdn Bhd.  In this role he oversaw the development of the Malaysian operation into one of Leighton Asia’s key revenue earners.

In 2001 Mr Savage was appointed Deputy Managing Director of Leighton Asia’s Southern Region. In his new role as Managing Director of Leighton Asia (Southern), Mr Savage has responsibility for all Leighton Asia’s activities in Malaysia, Indonesia, Singapore, Brunei, Sri Lanka and India.

Prior to joining Leighton, Mr Savage was responsible for the Philippines operation of another leading Australian construction and engineering company. He developed the operation into a multi-disciplined business generating annual revenue of around US$100 million.  

Mr Savage holds a Bachelor degree in Civil Engineering from Deakin University in Victoria, Australia. He is a Director of Leighton Asia Limited.