MIDAS's NPRT SECURED ANOTHER RMB 1.11 BILLION CONTRACT

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08 Jan 2014 02:02 - 08 Jan 2014 02:04 #18563 by ZEN
THE INTERNATIONAL RAILWAY JOURNAL has reported that China Railways Corporation has just awarded new contracts for 258 new high speed trains worth US$7.3bn to China Northern Rolling Stock Company (CNR) and China Southern Rolling Stock Company (CSR).

The contract is divided into two lots - Lot 1 comprising 78 250km/h trains was awarded to CSR Sifang in 8 batches.

Lot 2 comprises 180 350km/h trains to CNR Chang Chun (27 trains), CSR Sifang (83 trains) and CNR Tangshan (70 trains).

On 21 October 2013, Midas was awarded its first high speed rail contract worth RMB167.5mn from CNR Chang Chun and CNR Tangshan.

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SO for Lot2 of 180 train sets tender, CNR Chang chun and CNR Tangshan won the majority of the high speed contracts of about 100 train sets . These 2 CNR subsidiary awarded MIDAS with contracts in Oct 2013 .

So very soon we will see major contracts from them as the tenders were closed in Dec 2013 already .
Last edit: 08 Jan 2014 02:04 by ZEN.

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08 Jan 2014 02:11 #18564 by ZEN
MIDAS Holdings is bringing in endless train contracts worth multi billions comparable to how Keppel Corp is bringing oil rig contracts .


One is 51c ; the other is about $11

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08 Jan 2014 02:15 - 08 Jan 2014 02:16 #18565 by ZEN
Midas Holdiings is pleased to announce that its subsidiary, Jilin Midas Aluminium Industries Co., Ltd (“Jilin Midas”) has won contracts worth an aggregate sum of RMB167.5 million.

The contracts were awarded by CNR Changchun Railway Vehicle Co., Ltd (中国北车 长春轨道客车股份有限公司) and CNR Tangshan Railway Vehicle Co., Ltd (中国北车 唐山轨道客车股份有限公司) to supply aluminium alloy extrusion profiles and certain fabricated parts for the manufacture of high speed trains.


Commenting on the contract wins, Mr Patrick Chew (周华光), Executive Director and Chief Executive Officer of Midas, said, “We are delighted that our major customers continue to place their trust in our capability and performance. Through these contract wins, we will supply aluminium alloy extrusion profiles and certain fabricated parts for high speed trains that will operate at speeds up to 350km/hr.
Last edit: 08 Jan 2014 02:16 by ZEN.

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11 Jan 2014 00:13 #18609 by BetterPrice2013
Sell on news. Rallied to 52.5 cents and then down down down back to 50.5.
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14 Jan 2014 04:16 #18634 by BetterPrice2013
closed at 50 cents today. Looks like going below 50 cents soon.

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14 Jan 2014 04:16 #18635 by BetterPrice2013
closed at 50 cents today. Looks like going below 50 cents soon.
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