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Asian earnings to grow: Australia's Toll Holdings

Written by: Staff
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Singapore, June 14: Toll Holdings Ltd, Australia's top transport group, sees Asian earnings in excess of 20 per cent of group total over the next five years, Toll's Chief Executive Officer Paul Little said on today.

Toll, which on Wednesday made a cash offer to buy the rest of Singapore's Sembawang Kimtrans for as much as US$ 156 million, also said it plans to remain as the main shareholder in airline Virgin Blue Holdings Ltd .

Speculation has been rife about Toll's likely sale of a 62.3 per cent stake in Virgin, which at the current market price is valued at about A$ 1.6 billion ($1.34 billion).

He also said the group was in talks to form a venture with India's Tata Group.

Reuters

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