Listed MacroAsia Corp. is exiting the so-called third-party logistics business to focus on its core airline support and airport property development segments alongside newer ventures in mining and water infrastructure.

In a filing to the Philippine Stock Exchange on Wednesday, MacroAsia revealed plans to sell its 49-percent interest in Toll-MacroAsia Philippines Inc. to Toll (Asia) Pte. Ltd. of Singapore.

The sale involves an all-cash transaction with Toll (Asia) Pte. Ltd., Amador Sendin, MacroAsia vice president for planning and business development, said in a text message on Wednesday.

Other details such as the value of the deal were not immediately available.

MacroAsia shares rose 3.33 percent to P3.10 on light trading volume.

Toll-MacroAsia Philippines was established to pursue third-party logistics and supply-chain management in the Philippines.

In the same disclosure, MacroAsia said affiliate Lufthansa Technik Philippines is on track to complete its hanger expansion project by the first quarter of 2012.

The expansion will allow the facility to accommodate the Airbus A380, considered the world’s biggest passenger aircraft.

MacroAsia officials said in July that full-year profits could hit P200 million to P300 million this year, less than the P406 million booked in 2010.

The lower projection came on expectations that its maintenance and catering segments will see a slowdown given the cyclical nature of its business and the proliferation of budget carriers.

The company is also seeking to restart a nickel mining project in Southern Palawan and has announced its intention to supply water in Cavite province.

MacroAsia is led by Washington Z. SyCip and is majority owned by the group of tycoon Lucio Tan.