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Asia

Australian Shares Flat; MAAS Group Holdings Says Construction Materials Business Sale Secures FIRB Green Light

Australian shares were flat on Friday, despite a tech-driven rally on Wall Street, amid concerns around inflation.The S&P/ASX 200 Index was little changed to close at 8,731.20.Overnight on Wall Street, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average rose 1.1%, 1.7%, and 0.6%, respectively.Brent crude oil futures ​declined to trade around $104 per barrel as Saudi Arabia reportedly sought to return about half the capacity of its closed East-West oil pipeline.On the domestic front, developments over the last month or so indicate that some upside risks to inflation are materializing despite slowing growth in the Australian economy, Reserve Bank of Australia (RBA) Governor Michele Bullock said."I recognize that higher interest rates are difficult for Australians with mortgages who are also facing cost-of-living pressures," Bullock said. "But reducing inflation is essential."In company news, MAAS Group Holdings (ASX:MGH) said the Australian Treasurer, through the Foreign Investment Review Board (FIRB), provided a notice of no objection to the proposed sale of its construction materials business to Heidelberg Materials Australia. The company's shares closed up over 12%.Abacus Group (ASX:ABG) agreed to sell a 19.6% interest in Storage King Group (ASX:SKG), with total gross proceeds to be received of AU$284.8 million, because the investment was no longer considered "core to the Group's long-term strategy."Lastly, Macmahon Holdings (ASX:MAH) executed a share purchase agreement to acquire 100% of the engineering and project delivery business, Aspect Engineering Solutions, and associated subsidiaries. The consideration will be paid over five years, including an initial upfront cash payment of AU$30 million on completion.

ASX 200ASX:ABGASX:MAHASX:MGHASX:SKG
Asia

Update: Macmahon Holdings to Acquire Engineering Firm; Shares Rise 9%

(Updates with the stock movement in the headline and last paragraph)Macmahon Holdings (ASX:MAH) executed a share purchase agreement to acquire 100% of the engineering and project delivery business, Aspect Engineering Solutions, and associated subsidiaries, according to a Friday Australian bourse filing.The consideration will be paid over five years, including an initial upfront cash payment of AU$30 million on completion, yearly retention payments of AU$6 million per year for five years totalling AU$30 million, and earn-out payments of between AU$15 million and AU$30 million dollars over three to five years.Macmahon may, at its discretion, elect to pay future retention payments and earn-out payments in the form of Macmahon shares rather than cash.Aspect's executive management will remain with the business, as will its workforce.Shares of Macmahon Holdings rose 9% in recent Friday trade.

ASX:MAH
Asia

ASX Preview: Australian Shares to Rise as Oil Eases; Forrestania Resources Says Takeover Offer for Zenith Minerals Remains Open After Takeovers Panel's Order

Australian shares are poised to rise on Friday as oil prices eased about 1% but remained above $100 a barrel, while signs of improving Saudi crude supplies helped temper concerns over Middle East disruptions.Overnight, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average rose 1.1%, 1.7%, and 0.6%, respectively.In corporate news, Forrestania Resources (ASX:FRS) said its Zenith Minerals (ASX:ZNC) takeover offer remains open and can "now proceed with certainty."Macmahon Holdings (ASX:MAH) executed a share purchase agreement to acquire 100% of the engineering and project delivery business, Aspect Engineering Solutions, and associated subsidiaries.Australia's benchmark index rose 0.4%, or 35.9 points, to close at 8,732.40 on Thursday.

ASX 200ASX:FRSASX:MAHASX:ZNC
Asia

Macmahon Holdings to Acquire Engineering Firm

Macmahon Holdings (ASX:MAH) executed a share purchase agreement to acquire 100% of the engineering and project delivery business, Aspect Engineering Solutions, and associated subsidiaries, according to a Friday Australian bourse filing.The consideration will be paid over five years, including an initial upfront cash payment of AU$30 million on completion, yearly retention payments of AU$6 million per year for five years totalling AU$30 million, and earn-out payments of between AU$15 million and AU$30 million dollars over three to five years.Macmahon may, at its discretion, elect to pay future retention payments and earn-out payments in the form of Macmahon shares rather than cash.Aspect's executive management will remain with the business, as will its workforce.

ASX:MAH
Asia

Macmahon Holdings Unit Executes Agreement to Develop Exploration Decline at Northern Territory Gold Deposit

Macmahon Holdings' (ASX:MAH) wholly-owned unit, Macmahon Underground, executed an agreement with CTP JV, the manager of the Central Tanami project joint venture, to develop an exploration decline at the Groundrush gold deposit in the Northern Territory, according to a Tuesday Australian bourse filing.The agreement is valued at around AU$38 million for a scope of work that includes portal and vent establishment.MGX Resources (ASX:MGX) and Tanami Gold (ASX:TAM) each hold a 50% stake in the joint venture.The underground decline will initially extend for 3.5 kilometers to a depth of 350 meters, providing underground drilling platforms to facilitate around 33,000 meters of infill drilling.

ASX:MAHASX:MGXASX:TAM
Asia

Macmahon Unit Secures AU$38 Million Contract With Northern Territory Project JV

Macmahon's (ASX:MAH) Macmahon Underground subsidiary secured a AU$38 million contract with the Central Tanami project joint venture for the construction of the Groundrush decline at the joint venture's Northern Territory mine site, according to a Monday filing with the Australian bourse.The underground decline will initially extend for 3.5 kilometers to a depth of 350 meters, with portal construction activities expected to begin in September, the filing said.Tanami Gold (ASX:TAM) and MGX Resources (ASX:MGX) each hold a 50% interest in the joint venture, per the filing.

ASX:MAHASX:MGXASX:TAM
Asia

Macmahon Holdings Unit Awarded AU$485 Million Contract Extension at Western Australia Gold Mine

Macmahon Holdings (ASX:MAH) unit Macmahon Contractors secured a 42-month contract extension valued at AU$485 million for Greatland Resources' (ASX:GGP) Telfer gold mine in Western Australia, according to a Monday filing with the Australian bourse.The award represents a "significant expansion" of mining operations within West Dome Stage 7, including increased mining volumes and the delivery of full mining services, the company said.

ASX:GGPASX:MAH
Asia

Update: Macmahon Holdings Fiscal 2026 Underlying Earnings, Revenue Up; Shares Fall 7%

(Updates with the stock movement in the headline and last paragraph.)Macmahon Holdings (ASX:MAH) logged AU$0.0536 in underlying basic earnings per share for the fiscal 2026, compared with AU$0.0481 a year ago, a Tuesday filing showed.For the 12 months ended June 30, revenue was AU$2.62 billion versus AU$2.43 billion previously, the Australia-listed mining contractor added.The board declared a final dividend of AU$0.0125 per share, up from AU$0.0095 a year earlier, payable Oct. 12 to shareholders on record as of Sept. 21.The company expects fiscal 2027 revenue of AU$2.85 billion to AU$3.05 billion and underlying earnings before interest, tax and customer contract amortization of AU$205 million to AU$225 million.Macmahon Holdings shares fell past 7% in recent Tuesday trade.

ASX:MAH
Asia

Macmahon Holdings Fiscal 2026 Underlying Earnings, Revenue Up

Macmahon Holdings (ASX:MAH) logged AU$0.0536 in underlying basic earnings per share for the fiscal 2026, compared with AU$0.0481 a year ago, a Tuesday filing showed.For the 12 months ended June 30, revenue was AU$2.62 billion versus AU$2.43 billion previously, the Australia-listed mining contractor added.The board declared a final dividend of AU$0.0125 per share, up from AU$0.0095 a year earlier, payable Oct. 12 to shareholders on record as of Sept. 21.The company expects fiscal 2027 revenue of AU$2.85 billion to AU$3.05 billion and underlying earnings before interest, tax and customer contract amortization of AU$205 million to AU$225 million.

ASX:MAH
Asia

Macmahon to Sell up to 50% Stake in Queensland Accommodation Village

Macmahon (ASX:MAH) agreed to sell up to a 50% interest in the Homeground workforce accommodation village in Queensland to Allcap Securities, the majority owner of Inter-Port Global Consolidated, based on the asset's AU$52 million book value, according to a Monday filing with the Australian bourse.The initial sale covers the acquisition of a 20% interest, with Allcap holding an option to acquire a further 30% interest by December 2029, the filing said.The company also partnered with Allcap to collaborate on workforce accommodation, civil contracting and infrastructure opportunities linked to Inter-Port Global's proposed development activities in Gladstone and Central Queensland, per the filing.

ASX:MAH
Asia

Macmahon Unit Secures AU$50 Million Early Works Package for Western Sydney Road Upgrades

Macmahon Holdings' (ASX:MAH) wholly-owned subsidiary Decmil secured an around AU$50 million early works package from Transport for NSW to support upgrades to Elizabeth Drive and Mamre Road, as well as the Archbold Road extension in Western Sydney, according to a Thursday filing with the Australian bourse.The project will enhance connectivity to Western Sydney International Airport and the Western Sydney Employment Area, easing congestion and improving safety and travel times for more than 70,000 daily motorists while accommodating future traffic growth, the filing added.

ASX:MAH
Asia

Macmahon Holdings Unit Selected as Preferred Underground Mining Contractor for Medallion Metals Project

Macmahon Holdings (ASX:MAH) said Medallion Metals (ASX:MM8) selected its Macmahon Underground subsidiary as the preferred underground mining contractor for the Ravensthorpe gold project in Western Australia, according to a Wednesday filing with the Australian bourse.The contract has an initial term of 36 months and is valued at about AU$240 million, per the filing.The scope of the works, expected to start in the December quarter, includes portal establishment, underground development, production, and ancillary works.

ASX:MAHASX:MM8
Asia

Macmahon Holdings Unit Secures Over AU$406 Million Mining Services Contract in New Zealand

Macmahon Holdings' (ASX:MAH) New Zealand subsidiary secured an underground mining services contract with an estimated value of AU$406.2 million at the domestic Snowy River gold mine project, according to a Tuesday filing with the Australian bourse.The contract has a five-year term starting in October, and marks the company's return to mining in New Zealand, per the filing.Macmahon said it will transition the underground operations to deliver mining services, including mine development, production, and backfill operations, at the project, which is being operated by Tasman Mining.

ASX:MAH
Asia

ASX Biggest Losers

Here are the ASX-listed companies with the biggest losses on Friday.4DMedical (ASX:4DX): -8%, AU$4.25ResMed (ASX:RMD): -6%, AU$29.55EchoIQ (ASX:EIQ): -6%, AU$1.46Phylogica (ASX:PYC): -5%, AU$2.02DroneShield (ASX:DRO): -5%, AU$2.16EQ Resources (ASX:EQR): -5%, AU$0.31Block(ASX:XYZ): -4%, AU$113.35Zip (ASX:ZIP): -4%, AU$2.84Brazilian Rare Earths (ASX:BRE): -4%, AU$4.30Macmahon Holdings (ASX:MAH): -3%, AU$1.00

ASX 200ASX:4DXASX:BREASX:DROASX:EIQASX:EQRASX:MAHASX:PYCASX:RMDASX:XYZASX:ZIP
Asia

Macmahon Holdings Wins AU$355 Million Underground Mining Contract at Mt Marion Lithium Operation

Macmahon Holdings' (ASX:MAH) unit Macmahon Underground executed a contract for underground mining services at the Mt Marion lithium operation, valued at AU$355 million for an initial period of three years with an option to extend for a further year, according to a Wednesday Australian bourse filing.The company said the scope of works includes all underground development and production mining operations at Mt Marion, located 70 kilometers south of Kalgoorlie in Western Australia, and jointly owned 50-50 by Mineral Resources (ASX:MIN) and Jiangxi Ganfeng Lithium.

ASX:MAHASX:MIN
Asia

Macmahon Subsidiary Secures 12-Month Contract Extension With Black Cat Syndicate Unit

Macmahon's (ASX:MAH) Macmahon Underground subsidiary secured a 12‑month contract extension with a Black Cat Syndicate (ASX:BC8) unit for underground mining services at the Majestic Mine in Western Australia, according to a Wednesday filing with the Australian bourse.

ASX:BC8ASX:MAH
Asia

Macmahon's Solid Order Book, Pipeline Support Confidence in Meeting Targets, Says Euroz Hartleys

Macmahon (ASX:MAH) is proceeding with a solid order book and pipeline despite broader economic uncertainties, adding confidence that it will meet fiscal 2026 forecasts, Euroz Hartleys said in a note on Wednesday.The investment firm said the miner has AU$25.6 billion in tender pipeline, of which AU$14.4 billion is expected to convert over the next 12 months, providing additional support for its 2027 outlook, which Euroz Hartleys is now rolling forward.The brokerage expects the company to log in annual revenue of AU$2.6 billion to AU$2.8 billion and EBITA of between AU$180 million and AU$195 million.Macmahon is targeting AU$750 million in underground revenue and 15% to 20% of total revenue coming in from its Indonesia business by the end of fiscal 2028.If surface mining holds steady at around AU$1 billion and civil works eventually reach about $1 billion over the medium term, total revenue could potentially rise to around $3.5 billion, leading to EBITA of over AU$250 million, the firm added.Euroz Hartleys maintained its buy rating and raised price target to AU$1.10 from AU$0.76.

ASX:MAH
Asia

Macmahon Unit Selected as Preferred Mining Contractor for Northern Territory Gold Deposit

The Central Tanami Project Joint Venture, in which both MGX Resources (ASX:MGX) and Tanami Gold (ASX:TAM) hold a 50% interest, selected a unit of Macmahon Holdings (ASX:MAH) as the preferred mining contractor for the construction of the exploration decline at the Groundrush gold deposit in the Northern Territory, according to separate filings with the Australian bourse on Tuesday.Macmahon Underground will conduct around 3,500 meters of exploration decline development and portal and vent establishment, with the work valued at around AU$38 million. The work is expected to start in the September quarter and extend for a 14-month period.The appointment of Macmahon remains subject to finalization and execution of a binding agreement.

ASX:MAHASX:MGXASX:TAM

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