MIDAS’ JV UNIT KICKS OFF 2014 WITH ORDERS WORTH RMB1.11 BILLION
- First contract worth RMB520 million to supply 85 train cars for the
Suzhou Rail Transit Line 2 Extension
- Second contract worth RMB590 million to supply 78 additional train cars
for Nanjing Metro Line 1
Singapore & Hong Kong, January 6, 2014 – Midas Holdings Limited (麦达斯控股
有限公司) (“Midas” or the “Company”, together with its subsidiaries, the “Group”;SGX-ST stock code: 5EN; SEHK stock code: 1021) is starting 2014 on a strong note:its joint venture company, Nanjing SR Puzhen Rail Transport Co., Ltd. (“NPRT”) (南 京南车浦镇城轨车辆有限责任公司) has secured two contracts worth a total of RMB1.11 billion.
The first contract was awarded by Suzhou Rail Transit Co., Ltd. (苏州市轨道交通集 团有限公司) for the supply of 17 train sets (1 train set = 5 train cars), or 85 train cars,for the Suzhou Rail Transit Line 2 Extension, while the second contract was awarded by Nanjing Metro Co., Ltd. (南京地铁集团有限公司) for the supply of 13 additional train sets (1 train set = 6 train cars), or 78 additional train cars, to Nanjing Metro Line
Slated for delivery between 2015 and 2016, both contracts are expected to
contribute positively to the Group’s financial performance in 2015 and 2016.
Fantastic start to the new year with such an impressive contract win. I guess now it's waiting for Midas to announce more good news from the second round of HST tenders. It is almost a certainty that projects awarded to CNR will end up with contracts to Midas. My concern is for the projects won by CSR. I am not too clear about the set up of CSR but I understand that CSR Qingdao Sifang doesn't do business with Midas, but some other CSR Sifang subsidiaries do. Would greatly appreciate it if someone more well informed can enlighten me on this aspect. Grand master ZEN, kindly impart your wisdom... Thanks
True. But I hope that for the 2nd batch of HST orders that were awarded in Dec, the 78 250km/hr trains and the 83 350km/hr trains awarded to CSR Sifang were NOT for CSR Qingduo. I want a clean sweep for Midas (I'm pretty greedy, I'm afraid).
The wait for the contract announcement from Midas is killing me !!!!!!!!