Meanwhile, McAleese's shares have hit a new all-time low after...

Meanwhile, McAleese's shares have hit a new all-time low after the transport group said one of its key customers, Trans Global Projects, has gone into administration.
Shares in McAleese, which disclosed on Wednesday that it may have to take provisions in its 2015 results against bad debts, have slumped 12.8 per cent, or 1.1¢, to 7.5¢ after it said it was owed $7.3 million by Trans Global Projects.
"McAleese Group expects the first meeting of creditors of Trans Global to be held by mid-August and will continue to seek information to determine what, if any, provision against the debt should be reflected in McAleese Group's 2015 results," the company said.
McAleese's stock has lost 95 per cent of its value after floating at $1.47 in late 2013.
The disclosure comes as a Singaporean company, Tat Hong Investments, emerged yesterday as the second-largest shareholder in McAleese after chief executive Mark Rowsthorn, who owns 31 percent of the transport group.

smh.com.au