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The recent story of Australia’s largest transport and logistics group, Toll Holdings, has largely been characterised by rapid expansion through both domestic and international acquisition, a process that now appears to be in reverse after it put a number of its businesses up for sale. The domestic marine logistics arm, which largely deals with bulk trades in and around Indonesia, as well as its Asian express business, have now been consigned to the “non-core activity” camp as it seeks to improve operating margins and provide higher returns to shareholders.

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