MIDAS HOLDINGS

  • tP
  • Visitor
  • Visitor
11 Jul 2012 05:40 #9910 by tP
Replied by tP on topic Re:MIDAS HOLDINGS
Not premature to be buying big on this stock? There is no contract announcment for high-speed rail in China yet.....
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11 Jul 2012 05:44 #9911 by ZEN
Replied by ZEN on topic Re:Re:MIDAS HOLDINGS
MIDAS is not purely on high speed railways . Look at the METRO/ MRT contracts that MIDAS had been awarded recently .
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  • Porter
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11 Jul 2012 15:32 #9914 by Porter
Replied by Porter on topic Re:MIDAS HOLDINGS
Midas should cheong today. Momentum is there. The sentiment has improved a lot. In Business Times today, Patrick Chew is sounding bullish.
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  • MiMi
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11 Jul 2012 20:32 #9917 by MiMi
Replied by MiMi on topic Re:MIDAS HOLDINGS
source: DBS Vickers, July 11.

Midas Holdings is poised for a strong business recovery, now
that Beijing has completed its year-long investigation of the
July 2011 catastrophic high-speed train crash in China,
according to its chief executive officer Patrick Chew Hwa
Kwang. Besides the Chinese capital approving spending that
has been put on hold on its national high-speed rail grid,
Chinese cities are also embarking on aggressive projects to
build metro systems. According to Mr Chew, after a year-long
freeze the Chinese Ministry of Railway (MoR) and state-owned
rail enterprises CSR Corp (China Southern Rail) and China CNR
(Northern Rail) have started pushing ahead with the RMB2.5
trillion (S$498 bn) railway construction and upgrading
programme under China's 2010-2015 Five Year Plan. Mr
Chew's views add further conviction to our analyst’s opinion
that the MoR could start giving out new orders again for the
industry and Midas, with a large exposure, would be the
obvious beneficiary. However, do note that results would take
a few quarters to improve from order wins. Currently, our TP
of S$0.49 is based on 1x P/B and the stock is trading at 0.7x
P/B.
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12 Jul 2012 01:30 #9921 by ZEN
after market closed . MIDAS announced it won another 2 contracts :
 
 
MIDAS SECURES NEW CONTRACT ORDERS WORTH RMB139.3 MILLION

 

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RMB74.6 million metro contract from JV Company NPRT for the Nanjing Metro Line 3 project

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RMB64.7 million worth of orders for Siemens AG projects in Russia and Belgium

 
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  • Miss Lim
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12 Jul 2012 02:25 #9924 by Miss Lim
Replied by Miss Lim on topic Re:MIDAS HOLDINGS
Midas’ CEO Patrick Chew was interviewed by
Business Times and we highlight the following key
points from the interview.
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