THE LEIGHTON ASIA MAGAZINE | 2008 ISSuE 2

is a quarterly newsletter produced by Leighton Asia. It provides information on developments, projects and issues relating to Leighton Asia, Leighton Holdings and associated companies operating across the Asia region.

If you would like to receive regularly, please email us on: info@leightonasia.com

Published by: Leighton Asia, 39/F Sun Hung Kai Centre, 30 Harbour Road, Hong Kong.

t: +852 2823 1111 f: +852 2528 6119 e: info@leightonasia.com www.leightonasia.com

About Leighton Asia

Leighton Asia is part of the Leighton Group, Australia’s largest project development and contracting group with annual revenues expected to exceed US$13 billion this financial year.

Leighton Asia has been operating in the region for more than 30 years. Based in Hong Kong, the company also operates in Macau, China, Mongolia, Taiwan, the Philippines, Guam, Thailand, Vietnam, Laos and Cambodia.

Focused on success and with a unique combination of local knowledge and international experience, Leighton

Asia is the region’s international contractor of choice.

Contents THE LEIGHTON ASIA MAGAZINE | 2008 ISSUE 2

I am really excited to be living and working back in Asia again, where I have spent most of my

past 18 years. It took me all of a millisecond to say ‘yes’ when I was offered the new position and the opportunity to move back to Asia.

Having lived in Malaysia during the 1997 Asian financial meltdown, I am a keen observer of the potential effects of the current financial crisis, which has been sweeping much of the western world.

This time it is very different. This crisis did not start in Asia. Also, very few of the commercial or industrial companies in Asia appear to be involved in the marginal-quality sub-prime investments which have brought several western institutions to their knees.

Here in Asia, we continue to move forward strongly, with steadily growing economies in most of the countries where Leighton Asia operates. This is where it is all happening and the outstanding opportunities in the region are attracting capital from around the world.

However, these great opportunities are also creating a shortage of skilled manpower and, at times, equipment. Leighton’s size, scope and strength overcomes these problems. We continue to re-engineer our company’s capabilities to be relevant to the opportunities ahead. Our greatest strength continues to be our people.

This is where Leighton makes a difference in the market. Our unique diversity and on-ground presence with long-serving local staff allows us to better understand the Asian operating environment. Our strength lies in our ability to provide innovative, practical solutions to our clients. They know that they have no second chance if they make the wrong choice of contractors for major development projects.

Leighton is one of the largest international contractors in the region, with over 30 years’ presence in Asia. We are focused on success and our unique combination of local knowledge and international experience has made us the contractor of choice.

Little wonder that more clients are turning to Leighton than ever before.

As we enter the Year of the Rat, I wish all our staff and business partners success in all their endeavours.

Hamish TyrwhittManaging directorLeighton Asia

3 Values are the glue that bind the Leighton Group together

4 Competitive solutions lead to further contracts at Masbate

5 Local experience brings mining contracts

6 Demonstrating the leading edge

8 Good safety practice gains award

High-tech skills required for airport hangar contract

9 Innovative panel system introduced for Cambodia project

10 Leighton half-year profit up by 32%

11 First hand briefings for Leighton’s directors

12 Leighton rocks and bowls

Leighton Asia supports major rugby tournament

13 Working closely with the community

Improving the environment on tunnel approaches

14 City of Dreams second to none

Pipe laying opportunities drive fleet expansion

15 Hong Kong charity profits from tunnel vision

some thoughts from the md

vALues Are the gLue thAt bind the Leighton group together

W al King, the Leighton Group’s CEO, firmly believes that setting

down clear guidelines underpinned by a common set of core values is fundamental to the Group’s success.

Leighton was established in 1949. Today, the Leighton Group operates across Australasia, South East Asia, and the Middle East, and is still very much a family company complete with the values and shared goals that characterise family endeavours. The only difference is that Leighton is now a family of companies.

So, what is the glue that binds this family of sometimes-competing companies together?

It’s having a set of common values that transcend the different personalities and cultures of the Group’s diverse companies. King admits that it calls for a delicate balance and can only work if everyone believes in, and adheres to, a common set of rules.

Ultimately, it is the listed parent company – Leighton Holdings – that provides the leadership, the corporate

values and the business expectations which King likes to describe as the ‘rules of racing’. The core values are to:

n be commercially competitive

n provide a safe and healthy workplace

n act with integrity and fairness

n create a fun, challenging and performance-driven culture

n protect the environment

n recognise the needs of the community

n encourage innovation and technological leadership

“These points demonstrate what the business intends to achieve strategically, what it values, how it intends to behave as a company and how it proposes to brand itself in the market,” said King.

“While the rules of racing cover safety in the workplace, protection of the environment, community responsibility and the encouragement of innovation and leadership, they are also about ensuring that Leighton collectively and individually remains profitable,” said King.

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Leighton’s values are at the heart of understanding who

we are and what we do.

“

“

Wal

Kin

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Leig

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CEO

Preparing for future commercial challengesLeighton Asia recognises that it is operating in one of the world’s most competitive markets.

Constantly seeking to meet this challenge, the company is increasingly looking further into the future – up to 10 years ahead – to identify the key change drivers likely to impact upon it.

In this way, it will be better able to exploit the strong business opportunities that present themselves across the region and ensure it maintains a sustainable business in the ensuing years.

“Strategically, Leighton Asia, with its network of permanent offices and major projects across Asia, will build strongly into the future, focused on success and its assets of local knowledge and international experience,” said managing director, Hamish Tyrwhitt.

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competitive soLutions LeAd to further contrActs At mAsbAte

T he new US$170 million project, for mine owner CGA Mining, will be undertaken under a six-year relationship-based

contract – a method which Leighton has used very successfully in major projects in many parts of the world.

Over the period, Leighton will remove more than 45 million cubic metres of material. The company will be responsible for the drill and blast operations, as well as the load and haul of the ore and waste. It will also construct the tailings dam and the ore feed to the crusher.

Currently, Leighton (in partnership with Lycopodium) is designing and constructing the gold processing plant at Masbate, which just achieved 1 million manhours without lost time injury. The project is scheduled for commissioning early next year, also infrastructure, camp accommodation and other facilities.

With mining due to start in September this year, Leighton Asia is now mobilising a very large team of people to handle the workload on site.

Hard on the heels of its recent US$65 million contract to establish new mine infrastructure at the Masbate gold mine in the Philippines, Leighton Asia has just been appointed to provide the contract mining services there.

5

T his is a further major contract for Leighton in the Philippines,

which is also currently working on the Masbate Gold project,

located some 350 kilometres south of Manila.

At Didipio, Leighton will undertake both the open-cut mining

and tailings dam construction, under a contract worth US$60

million. Over a 45-months period, the company will shift 15

million BCM of ore and waste.

Leighton is already mobilising its full team at Didipio. A start will

be made on the pre-stripping in May.

Apart from its price competitiveness and extensive in-country

experience, Leighton’s ability to start mining quickly was a

significant factor in OceanaGold’s decision.

The mine will be an open-cut for about three and a half years.

Then it is likely to move to an underground sub-level cave

method of mining under a contract that is still to be tendered.

The Leighton Group is one of the world’s largest contract miners.

As such, it has developed exceptionally strong relationships with

major suppliers in the Philippines, such as Monark and Maxima

– authorised distributors of Caterpillar and Komatsu. These

commercial relationships are particularly important in periods

when there is a world shortage of heavy equipment, tyres and

other supplies for mining operations.

Steve Orr, OceanaGold’s CEO said that his company was pleased

to be working with Leighton at Didipio.

“Awarding this contract represents another important milestone

for the commissioning of the Didipio gold-copper project in the

first half of 2009,” he said.

Apart from the Didipio project, OceanaGold also operates

mines in New Zealand, where its assets include the country’s

largest gold mine at Macraes, the recently commissioned Frasers

Underground operation and the Reefton Gold Mine.

LocAL experience brings mining contrActsOceanaGold Corporation is moving forward with its large-scale Didipio gold-copper mining project in NuevaVizcaya, Philippines, awarding Leighton Contractors Philippines the contract to undertake the open-cut mining and related work.

Above: Masbate gold mine in the Philippines

Bottom: Ongoing construction of catch in leache (CIL) tanks

6

Top: The tunnel boring machine in the retrieval shaft

Above: (from left) LHL’s executive general manager, finance & admin, Travis Young; MTR Corporation’s deputy director of projects, K K Lee, general manager-KSL, Henry Lam and projects director, Russell Black; KCR Corporation’s chief officer, lr James Blake; LAL’s managing director, Hamish Tyrwhitt; LCAL’s general manager, Mark Ashton

Above left: KSL Link 200’s project director, David Westwood, gave a brief speech in front of the TBM

Left: Pieces of the tunnel boring machine were lowered into the entry shaft

After a total of 15 months underground, the TBM named

Xiaolongnu (which means ‘Little Dragon Girl’) has been brought out of the tunnels it has excavated for the final time. Xiaolongnu was named after the legendary character of the Chinese martial arts story ‘The Return of the Condor Heros’.

About 80 metres long and eight metres high, Xiaolongnu has been working below Hong Kong’s most congested streets, under sensitive heritage buildings and through difficult ground conditions.

Compared with the disruption which might have been created by the recommended cut and cover method, tunnelling required only two areas of land – for launching Xiaolongnu and its retrieval. This almost totally eliminated the impact of construction on road traffic, pedestrians and the community.

Importantly for a project of this magnitude and risk, the works were completed safely; without any major incident and with the minimum of public complaints.

According to KSL Link 200’s project director, David Westwood, the TBM was an international effort – being assembled in China using German technology, with German and PRC-made components.

The project’s state-of-the-art slurry plant was imported from the United Kingdom. All of this very expensive and sophisticated equipment was operated by highly skilled operators, who were supported by multi-national crews.

The completion of the tunnel boring is a major milestone for the joint venture, which is continuing to work on the balance of its civil and infrastructure contract with MTR Corporation, scheduled for completion in mid 2009.

The project is important for Hong Kong because it closes the gap between two of Hong Kong’s strategic railway lines.

At a ceremony marking the end of the tunnelling phase, Russell Black, projects director of the MTR Corporation (operator of the metro system in Hong Kong) said that the TBM’s section had posed unique engineering and community challenges.

“The alignment is in close proximity to a number of structures that are highly sensitive to noise and vibration. Through detailed planning and careful implementation by the project team and the contractor, the work was completed successfully.

“On the approach to East Tsim Sha Tsui

Station, the TBM had to cross above the existing MTR Corporation Tsuen Wan Line tunnels which are only less than two metres away. This in itself was a feat of precision engineering.

“Once again, with the excellent collaboration of the contractor’s experts and MTR Corporation’s own project team members, Xiaolongnu proceeded without causing any impact on the Tsuen Wan Line service,” he said.

Another challenge for the tunnel team was to strictly control the TBM’s noise and vibration, particularly while it was passing close to the Hong Kong Cultural Centre and the Hong Kong Space Museum.

The geotechnical environment also made the tunnelling works particularly challenging, having to pass through ground conditions ranging from very hard rock under Canton Road and the former Marine Police headquarters, to soft marine deposits in Haiphong Road and underneath Salisbury Road.

Now that its work is completed, Xiaolongnu has been dismantled from the retrieval shaft and removed from the site.

The tunnelling undertaken by the tunnel boring machine (TBM) is part of a HK$2 billion contract undertaken by Leighton Asia, in joint venture with fellow Leighton Group company John Holland, Balfour Beatty and Kumagai Gumi, to design and construct the new West Kowloon underground railway station and linking tunnels. They form a key section of the MTR Corporation’s Kowloon Southern Link (KSL) project in Tsim Sha Tsui.

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demonstrAting the LeAding edge

‘Little dragon girl’ escapes from underground lair

8

Hong Kong’s annual Good Housekeeping competition, organised by the Occupational Safety and Health Council,

awarded Leighton, in joint venture with Balfour Beatty, Kumagai Gumi and John Holland, the prize for its Kowloon Southern Link project.

Morever, the Labour Department has awarded the Permanent Aviation Fuel Facility project with a Construction Industry Safety Silver Award in the civil engineering category.

The project team had been very proactive in maintaining a high standard of safety and housekeeping, including promoting the five key principles in the workplace – organisation, neatness, cleaning, standardisation and discipline.

Fridays were identified for a weekly site-cleaning day on which senior project managers and subcontractors take the lead and oversee a thorough site cleaning. Steps are also taken to ensure that the working environment is orderly and safe.

You have to be good to win an award in a record field of 200 entries. However, a major Leighton Asia project has just done that – receiving a bronze award for its outstanding housekeeping practices.

good sAfety prActice gAins AwArd

hi-tech skiLLs required for Airport hAngAr contrAct

Operating around-the-clock and handling close to 50 million passengers a year, it is one of

the world’s busiest airports and continues to win awards, even today.

Leighton Asia was one of the companies which supplied and installed the airport’s core facilities and it still maintains its links there.

In recent weeks, Hong Kong Aircraft Engineering Company Limited (HAECO) has awarded a US$85 million contract to construct an aircraft maintenance hangar to Leighton and its joint venture partner, China State Construction Engineering.

This aircraft maintenance hangar for HAECO is the third to be built at Chek Lap Kok.

Also a world-class facility and some 16,000 square metres in area, it will be able to accommodate two wide-bodied aircraft and one nose-in aircraft to provide a total of three Boeing 747 sized aircraft maintenance bays.

Completion of the project in May next year will provide a 33 per cent increase in annual heavy maintenance capacity at HAECO.

The new hangar, with its roof having a clear span of more than 150 metres, involves both innovative engineering and challenging construction methods. The single span steel truss system supporting the roof alone weighs more than 2000 tonnes. It will be constructed at ground level and then lifted into its final position with strands jacks.

Among the other features are two full sets of docking systems comprising nose docks and fully suspended fuselage and tail docks to provide maintenance access to the entire aircraft.

There are also extensive precautions against fire outbreaks, including a high-volume foam deluge system.

The construction of Hong Kong’s award-winning Chek Lap Kok International Airport 10 years ago set a world benchmark in innovation and efficiency.

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T he Australian Embassy, a US$14.6 million Leighton project, is being constructed for the Australian Department of Foreign Affairs and Trade,

and will be completed in April next year.

The work being undertaken includes building a three-storey Chancery building with quality finishes and high-level security. On the project, Leighton is introducing a tough new panel system which, also being lightweight, easily manoeuvred and assembled – significantly reduces crane and manpower requirements.

The developer of the panels, Fuvi Mechanical Technology of Ho Chi Minh City, worked with Leighton’s site management team in Phnom Penh to customise the formwork system specifically for the Australian Embassy project.

Rod Kerr, Leighton project manager said, “Made from high quality virgin plastic, the panels are said to be far greener than the traditional timber, plywood or steel panels and they save thousands of trees from being cut down for formwork.

“When cleaned and handled correctly, these new panels can be re-used up to 100 times. Then, once spent, they can be recycled to produce other plastic products,” he added.

Leighton Asia is using a Vietnamese company’s

leading-edge lightweight, plastic injection-moulded formwork system for the

structural works on its Australian Embassy project

in Phnom Penh.

Left: An artist’s impression of the Australian Embassy

Above: Examples of the new system in operation

innovAtive pAneL system introduced for cAmbodiA project

The Group secured some A$12 billion of new work, extensions and

variations, boosting work in hand to a record A$26.7 billion (A$21.1 billion at June 2007).

Chief executive, Wal King, said that a highlight of the period was the A$860 million acquisition of a 45% stake in Al Habtoor Engineering, one of the leading construction contractors in the Gulf region.

“Al Habtoor-Leighton immediately became one of the region’s largest multi-disciplined contractors,“ he said.

“Al Habtoor provides Leighton with a significant increase in capacity to enable both parties to fully capitalise on the numerous opportunities in the Gulf market, particularly in the United Arab Emirates. The transaction brought incremental work in hand to the Group of some A$1.5 billion.

“A long-term joint venture agreement has also been signed with Tourism Development & Investment Company (TDIC) in Abu Dhabi. The JV will

undertake contracting and provide management services for TDIC as they develop billions of dollars of real estate and infrastructure over the next few years.

“Real estate has been the major driver of project activity in the Gulf, however a shift is now occurring towards public infrastructure projects – in water, power and transport. Construction across both these sectors is now occurring simultaneously and Al Habtoor-Leighton is well positioned to undertake this work.

“Mining remains a key driver for Indonesia and, with vast reserves of coal, oil and gas, and its proximity to China and India, its future looks positive. The Group is well positioned to increase its contract mining activity as new mines are opened up and existing clients seek to increase production.

“The Hong Kong Government has announced an increase in capital expenditure over the next few years, with rail and infrastructure projects expected to dominate the market. In Macau, expansions to existing casino and hotel

complexes are underway or in planning, while other new developments remain on the drawing boards. The current building boom in Macau is coinciding with large infrastructure demands – particularly for transport,” he said.

He saw the longer term outlook for the Group as “Positive driven by a record level of work, a strong competitive position in core markets, continued growth in those core markets, and the implementation of a range of strategic initiatives.

“The balance sheet remains solid with total assets of A$5.8 billion and gross cash of A$511 million. A disciplined capital management plan is in place, which ensures the Group has the financial resources to pursue growth opportunities to further diversify the business.

“The Group’s work in hand maintains the great momentum and revenue for the full year is forecast to be over A$14.5 billion. We expect our 2008 profit to be up by at least 30 per cent on last year’s record result of A$450 million,” Mr King said.

On the 14th of February this year, Leighton Holdings recorded a 32 per cent increase in its half year operating profit (after tax and minorities) to A$250 million, from a pre-tax profit of A$322 million.

Leighton hALf-yeAr profit up by 32%

We expect our 2008 profit to be up by at least 30 per

cent on last year’s record result of A$450 million.

“

“

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first hAnd briefings for Leighton’s directors

While in these cities, the directors inspected several major Leighton Asia

project sites, including:

n City of Dreams and Wynn Resorts casino developments in Macau

n Kowloon Southern Link, Central Reclamation and the Permanent Aviation Fuel Facility in Hong Kong

They also met many of the company’s employees, at which they presented several awards for team efforts. These awards included the Good Housekeeping award for the Kowloon Southern Link project, and the Safe Subcontractors awards and Safe Workers awards for the Permanent Aviation Fuel Facility.

An important aspect in considering the ultimate winners was their level of conformity with the Leighton core value of ‘acting with integrity and fairness’.

While at the Permanent Aviation Fuel Facility project, the directors were present at a Bai Sun ceremony, held to bless the project and to celebrate the Construction Industry Safety Silver Award from the Labour Department.

The directors of Leighton Holdings, led by chairman, David Mortimer, have been visiting Hong Kong and Macau, and have held a Board meeting in Hong Kong during their three-day visit.

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Leighton directors, Peter Noe and Bill Wild, discussed progress at the Permanent Aviation Fuel Facility with general superintendent, Tony Hoffman

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Operating Profit Before Tax and Minorities $million

Profit After Tax and Minorities$million

Total Revenue$millionIncludes the Group’s

share of joint ventures

and associates

Work in Hand$millionIncludes the Group’s

share of joint ventures

and associates

Key Performance Indicators for the Half Year period to 31 December

Financial Highlights

31 Dec 2007 31 Dec 2006 % $’000 $’000 Change

Revenue - Group 4,755,610 4,897,513 (2.9%)- Joint Venture Entities and Associates 1,755,074 805,065 118.0%Other Revenue 25,125 22,395 12.2%Total Revenue (includes the Group’s share 6,535,809 5,724,973 14.2% of joint ventures and associates)

New Contracts, Extensions & Variations 12,347,103 9,630,252 28.2%Value of Work in Hand (includes the Group’s 26,657,038 20,095,854 32.6% share of joint ventures and associates)

Profit before tax 321,712 246,143 30.7%Income Tax (70,989) (55,558) 27.8%Minorities (473) (578) (18.2%)Profit after tax 250,250 190,007 31.7%

Earnings per Ordinary Share 90.0¢ 68.3¢ 31.8%Dividends per Ordinary Share 60.0¢ 45.0¢ 33.3%

31 Dec 2007 30 June 2007 % $’000 $’000 Change

Total Capital and Reserves 1,432,889 1,350,473 6.1%(excludes minority interests)Total Assets 5,830,202 4,745,202 22.9%Cash net of Borrowings (644,783) 669,262 (196.3%)Undrawn Facilities and Guarantees 736,108 740,512 (0.6%)

Leighton AsiA supports mAjor rugby tournAment

Leighton rocks And bowLs

T his recreational event primarily brings together staff of all gender, physique

and age to play in the spirit of teamwork, fortifying our core value of creating a fun and challenging workplace which strengthens our work hard and play hard culture.

This internal company event is being held at the bowling centre of SM Mall of Asia

which, according to Forbes magazine, is said to be the third largest shopping mall in the world. The general manager of Leighton Contractors Philippines, Phil Naughton, directed the opening ceremony with an inspirational speech. Leighton staff took turns in the program as Alice Capistrano and Art Contreras were the masters of the ceremony, while

Albert Puliran read the prayer, and Allan Dionaldo led the oath of sportsmanship.

With more than 120 players across the different departments in the Makati office, eight teams will compete for the next seven weeks.

Following what the Filipino bowling legend and World Cup champion, Paeng Nepomuceno said about bowling as the sport that everybody loves, Leighton Contractors Philippines organised its 7th Inter-Colour Bowling Tournament which opened on 5 March.

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T he 20th annual Manila Tens, held earlier this month at the Nomad

Sports Club, attracted 32 teams from around the region and as far afield as the United Kingdom, the Middle East, Africa and Australia.

Leighton Asia was a major sponsor of the event and the company also fielded it own team, the Leighton Larrikins. The team was supported by its own cheerleaders, the stunningly outfitted Leightonettes.

In previous years, the Leighton Larrikins team has been boosted by a number of internationally-known players including Rory Underwood, David Campese, Nick Farr-Jones, John

Bentley, Joel Stransky, Dan Crowley, Gavin Hastings and Justin Sampson.

This year, Elton Flatley (Australia) and Frano Botica (New Zealand) and Matt Phillips (Italy) fronted in the Leighton Larrikins colours for the first time. Derek Ramsey and Andrew Wolff (well-known actors and models in the Philippines) were also in the team.

The Leighton Larrikins managed to reach the cup for the first time before being knocked out in the quarter-finals.

When it comes to ‘social’ rugby, the Manila Tens has become the leading tournament in Asia.

More than 300 people took part in the event, including government

officials, district council members, consultants, employees of constructors Leighton and Kumagai, and about 100 students from two primary schools in the Cheung Sha Wan district.

All of the trees for planting were supplied by the Highways Department and, prior to starting, everyone saw a demonstration of the proper technique for planting.

About 800 trees or whips were planted during the morning, mainly of species Acacia Auriculiformis and Acacia Mangium, which are common in the area.

The Hong Kong Highways Department had a strong contingent of volunteers on hand when it held a community tree-planting day at Eagle’s Nest Tunnel project.

improving the environment on tunneL ApproAches

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A team from Leighton Asia took part in the recent Community Chest Sports Corporate Challenge, which raised funds specifically for children and

youth services.

Every year more than a million needy people benefit from Community Chest’s activities.

Notably, the Community Chest is one of the few fund-raising bodies in the world which allocates 100 per cent of its funds to its beneficiaries without any deduction for administrative expenses.

Lawrence Ho (co-chairman and CEO of Melco PBL Entertainment) was the chairman of the event’s organising committee and Leighton Asia was a sponsor for the event. Leighton is currently constructing the City of Dreams casino complex for Melco PBL in Macau.

The Sports Corporate Challenge took place at the Hong Kong University of Science and Technology in mid March and coverage of the competition was seen on TVB Jade in Hong Kong.

Leighton Asia’s team of 12 competitors entered the triple jump, javelin, 4 x 100 metres relay and basketball shooting. Although there were no medal winners among them, the team enjoyed the competition immensely.

The Community Chest in Hong Kong is an organisation dedicated to raising funds for agencies that assist needy citizens – the elderly, the mentally and physically impaired, children, youth and families at risk, the ex-mentally ill, ex-offenders, the terminally ill, and many others.

working cLoseLy with the community

Across Asia, there is steadily increasing demand for offshore pipe laying – driven by the strong growth of the oil industry and by infrastructure required by the region’s fast- growing cities.

pipe LAying opportunities drive fLeet expAnsionPipe laying has been a core skill of

Leighton Asia for the past two decades or more – particularly in Hong Kong, where the company has been responsible for installing several significant pipelines – the latest being the HK$332 million Shenzhen to Tai Po twin submarine gas pipeline.

To meet the need, Leighton Asia has commissioned the construction of a new barge, which has been designed specifically to operate in shallow coastal waters common to many countries of the region.

The barge, which is being built in Zhejiang China, will be 76 metres long and 24 metres wide. With the modifications to the current tensioner, it will be able to lay up to 32-inch-diameter pipe using a 10 point mooring system.

When operational, it will have a crew of approximately 50 pipe laying specialists. Initially, they will live on land with provision made to provide on-board accommodation in more remote regions.

The first assignment for the barge will be to work on the offshore aspects

of Leighton Asia’s current contract to expand the permanent aviation fuel facility in Tuen Mun, Hong Kong. This requires the laying of a twin 4500 metre 20-inch-diameter submarine pipeline.

The vessel has been named Faulkner, following a naming competition among Leighton Asia’s employees. John Faulkner was Leighton Asia’s managing director when the company established its now highly successful marine business.

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city of dreAms second to none

T he event started with the major stakeholders taking part

in a traditional Bai Sun ceremony. They included representatives from Melco PBL, Leighton Asia Contractors, China State and the joint venture.

Among them were Lawrence Ho (co-chairman and CEO of Melco PBL Entertainment), Garry Saunders (EVP

and COO of MPEL), Simon Dewhurst (EVP and CFO of MPEL), Jaya Jesudason (project director of MPEL), Mark Ashton and Mark Smith (Leighton), Sammy Zhou (China State) and Joseph Ho (City of Dreams).

Lawrence Ho delivered a welcome speech, saying that MPEL was looking forward to welcoming visitors to the City of Dreams.

“We [City of Dreams] will offer an entertainment centre that will be second to none.”

Commenting on the highly competitive nature of Macau’s gaming market, he said, “that we [MPEL] believe that only those with the most-innovative products with the best properties and resorts will survive.”

A topping out ceremony for the first phase of City of Dreams in Macau was held on 1 April 2008 and marked the completion of the final slab being cast on the Hard Rock Hotel building.

Far left: Some of the City of Dreams team, Anthony Zervaas, Amanda Wong, Craig Bowtell, Joseph Ho and Mark Moran

Left: Lawrence Ho participating in the topping out ceremony

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Participants had the unique chance to set foot on this eagerly awaited new infrastructure, walking through the tunnels and across the adjacent

viaduct before its official opening.

The HK$1.8 billion tunnel, a vital link in the Hong Kong Highways Department’s Route 8 corridor, will clip some 15 minutes off the previous time taken by commuters on the busy route between Sha Tin and Butterfly Valley.

The Leighton Kumagai joint venture constructed the 2.1 kilometre tunnel and as a corporate sponsor for the recent New Territories – Route 8 “Walk for Millions” charity walk, Leighton raised more than HK$100,000 for the Community Chest through corporate and employee contributions. The walk started at Sha Tin Height’s Tunnel, went through Eagle’s Nest and ended at Lai Chi Kok Viaduct.

Established about 40 years ago, the Community Chest is an independent, non profit-making organisation, which is neither funded nor operated by the government.

All money raised will benefit rehabilitation and aftercare services for people with disabilities – assisting them in developing their physical, mental and social capabilities; also helping former drug abusers and offenders in rebuilding their lives and reintegrating themselves into the community.

Intense public interest in the new Eagle’s Nest Tunnel in Hong Kong led to about 32,000 people turning up to take part in a charity walk prior to its recent opening.

hong kong chArity profits from tunneL vision

www.leightonasia.com info@leightonasia.com

n Be commercially competitive

n Provide a safe and healthy workplace

n Act with integrity and fairness

n Create a fun, challenging and performance-driven culture

n Protect the environment

n Recognise the needs of the community

n Encourage innovation and technological leadership

Leighton AsiA’s core vALues form our foundAtion

Value boards created by Cecilia Ho at Kowloon Southern Link to reinforce values in the site office and onsite