MIDAS HOLDINGS

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31 Oct 2013 18:59 #17237 by ZEN
Replied by ZEN on topic MIDAS HOLDINGS
nice buying at 49.5c today ... should cross 50c again soon
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01 Nov 2013 13:34 #17261 by ZEN
Replied by ZEN on topic MIDAS HOLDINGS
the toot toot train is moving off
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03 Nov 2013 01:08 #17302 by ZEN
Replied by ZEN on topic MIDAS HOLDINGS
CSR Corporation Limited (the “Company”) has recently entered into certain major contracts, with an aggregate value of approximately RMB25.66 billion. Details of such
contracts are set out below:


1. CSR Qingdao Sifang Locomotive & Rolling Stock Co., Ltd., a non-wholly-owned subsidiary of the Company, has entered into contracts with certain railway bureaus under China Railway Corporation in relation to the sale of MUs with a value of approximately RMB14.93 billion.


2. CSR Zhuzhou Electric Locomotive Co., Ltd., a wholly-owned subsidiary of the Company, has entered into contracts with certain railway bureaus under China Railway corporation in relation to the sale of locomotives with a value of approximately RMB6 billion.

3. CSR Nanjing Puzhen Rolling Stock Co., Ltd., a wholly-owned subsidiary of the Company, has entered into contracts with certain railway bureaus under China Railway corporation in relation to the sale of passenger carriages with a value of approximately RMB1.33 billion.


4. CSR Ziyang Electric Locomotive Co., Ltd., a non-wholly-owned subsidiary of the Company, has entered into contracts with certain railway bureaus under China Railway
Corporation in relation to the sale of locomotives with a value of approximately RMB1.27 billion.


5. CSR Zhuzhou Electric Locomotive Co., Ltd., a wholly-owned subsidiary of the Company, has entered into a contract with the Ministry of Transport of Malaysia in
relation to the sale of MUs with a value of approximately RMB0.96 billion.


6. CSR Qishuyan Locomotive Co., Ltd., a wholly-owned subsidiary of the Company, has entered into contracts with certain railway bureaus under China Railway Corporation
in relation to the sale of locomotives with a value of approximately RMB0.9 billion.


7. CSR Qingdao Sifang Locomotive & Rolling Stock Co., Ltd., a non-wholly-owned subsidiary of the Company, has entered into a contract with Shenyang Metro Co., Ltd. in relation to the sale of rapid transit vehicles with a value of approximately RMB0.27 billion.
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04 Nov 2013 00:21 #17313 by ZEN
Replied by ZEN on topic MIDAS HOLDINGS
Watch this gem tomorrow ....
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04 Nov 2013 18:03 #17334 by pine
Replied by pine on topic MIDAS HOLDINGS
Brennen Pak :cheer:

Given the current share price of Midas at 50c, it is trading at its NAV. So, it is neither expensive or cheap. If you look at the past PE, it looks horrible because it simply lack of orders, and in engineering companies, there is always a fixed overhead. Can't remember the PE, it must be in the region of 80-100 range.

However, share prices are forward looking and orders appears to be coming in. Its revenue is now probably between 800-1000m RMB. If it can hit above 1000-1100m RMB, the share should look promising.

My take is that the bad days for Midas are probably over given that issue on the graft committed by the former railway minister is more or less resolved. The next step is now dependent on how fast the authorities issue the railway contracts, in which Midas is an upstream supplier for large train body extrusions.

This probably explains why Midas share is creeping up, albeit very slowly. My opinion, is if you have a long-term horizon of 1-2 years, maybe it is a good stock to ride slowly.

Anyway, the Chinese government is likely to support train projects over time given the sheer size of the country.
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06 Nov 2013 00:03 #17381 by ZEN
Replied by ZEN on topic MIDAS HOLDINGS
Midas declared another dividend again .

going XD soon ...LOAD
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