Historical Investments

The MAC Services Group Limited

The MAC Services Group Limited (The MAC) was founded by Kevin Maloney (Tulla) in 1996. Kevin had the vision to establish an integrated accommodation group, specialising in Villages for people who work and live in key natural resource regions. As the leading provider to the resources industry The MAC provided:

• High-quality, innovative and flexible service offering; and
• Best value-for-money solutions

delivered via The MAC’s fully integrated ‘DOO’™ (Develop, Own, Operate) model. Inception at Moranbah in the Bowen Basin in Central Queensland, Australia, involved a $100,000 investment and 50 rooms. The MAC owned and managed over 5,500 rooms in 6 villages when it was sold in 2010.

Care Laundry (The MAC Linen)

In June 2006, Tulla Group purchased Care Laundry (now known as The MAC Linen) as part of The MAC Services Group Limited. As a leading commercial laundry in the Bowen Basin, The MAC Linen catered for business, accommodation and function linen requirements and provided a convenient pick-up and delivery service for clients.

The MAC Linen's in-house service to The MAC also provided professional laundering of all linen within The MAC villages. The MAC Linen was sold as part of The MAC Services Group Limited takeover by Oil States International in 2010.

Northern Energy Corporation

Northern Energy Corporation Limited is an ASX-listed company (ASX Code: NEC) with coal projects in Queensland and New South Wales, Australia.

The company has interests in a portfolio of coking and thermal coal projects being progressed towards development. These projects represent a diversified suite of geographically spread resource development opportunities involving various coal types and mining methods.

Kevin Maloney joined the board in May 2007. In February 2011 NEC was taken over by New Hope Corporation and Tulla Resources sold its stake to New Hope as part of the takeover.

Cumberland Cabs

Kevin Maloney as a director of Belgravia Associates (NSW) Pty Ltd (Belgravia) set up a private joint venture company to take positions in operating businesses in New South Wales. Its prime focus was to convert Cumberland Cabs Co-op (one of the largest taxi operators in Sydney) to a non-listed public company called Adelhill Ltd (Premier Cabs). The directors of Belgravia controlled approximately 30% of Adelhill.

Rich Red Holdings Pty Ltd (trading as Tristar)

In early 1991 Kevin Maloney (Tulla) established Tristar when he saw an investment opportunity in the services sector supplying the building, construction and mining industries with concrete and a quarry operation in the fast-growing Queensland city of Townsville.

Kevin took the company to in excess of 15% of market share in Townsville over a period of three years. In 1993 he sold Tristar to one of Australia’s largest building product companies.