MacroAsia divesting in logistics

MANILA, Philippines - Lucio Tan-led MacroAsia Corp. is stepping out of a third-party logistics partnership with Toll (Asia) Pte. Ltd. Singapore to allow it to focus on its core businesses which include aviation and other related services as well as natural resources development.

In its disclosure to the stock exchange yesterday, MacroAsia said it is selling its 49 percent stake in Toll MacroAsia Philippines Inc. to its joint venture partner for an undisclosed amount.

Incorporated in October 2005, Toll MacroAsia Philippines was envisioned to pursue third-party logistics and supply chain management in the country.

MacroAsia is currently engaged in aviation services, including aircraft maintenance, repair and overhaul; airline catering; and airport-related property development. It also has interests in mining and water resource development.

In another development, MacroAsia said its affiliate Lufthansa Technik Philippines is on track with its ongoing $30 million hangar expansion project to accommodate maintenance works for the Airbus A380, the world’s biggest and most technologically advanced commercial aircraft today. The project is targeted to be completed and operational by the first quarter of 2012.

MacroAsia’s airline catering subsidiary, MacroAsia Catering Services, is also planning to undertake immediate expansion of its in-flight catering facility to increase capacity by nearly 50 percent.

MacroAsia continues to be recognized formally by its clients as one of their top quality service providers. These clients benchmark MacroAsia’s performance with their other providers worldwide.

Being a preferred airline caterer in the Philippines, MacroAsia has recently sealed major contracts with new clients particularly with an airline from India and another big airline from the Middle East. Service to these two new clients will commence in December this year.

MacroAsia is hoping to reopen its Infanta nickel project in Brooke’s Point, Palawan, which was found to have 34.7 dry metric tons of nickel resource, with an average nickel grade of 1.23 percent available for mining. Of the resource estimate, more than 31 percent or 10.8 million dry metric tonnes are already measured, enabling the company to inplement at least a 10-year mine production plan anytime now. The mine covers a total land area of about 1,114 hectares.