This article was recently published on www.nracapital.com,and is republished with permission.


KevinScully.a.9.13Kevin Scully, executive chairman of NRA Capital.I WAS meeting an investor yesterday and we were talking about one of my favourite (currently under review) stocks, Midas. 

The share had rebounded from low of S$0.25 and recently had an SGX advisory that investors should trade with caution.

After lunch we noticed that the shares had risen 3-5% and when I checked with its CEO Patrick Chew he mentioned that they had announced another contract.

The announcement is was that its associate company NPRT had won an RMB1.7bn Metro contract.

Midas has been wining contracts consistently for the last one and half years and its order book has swelled but what has been disappointing has been its decline in margins and the absence of it winning large high speed train contracts which enjoy better margins.

So the macro story remains good with the contracts but this hasnt flowed down to profits.  I will review this once their latest results are released.


Recent story: OCBC neutral on impact on MIDAS of China's train makers' merger


Comments  

0 #1 Leo Tan 2017-02-18 14:57
Kevin Scully, you said that Midas is one of your favourite stocks. two years down the road, this stock has done absolutely nothing. Your investors must be so pleased with your recommendation. Oh, you also recommended JEP. Oh dear, it is also doing dismally.
Quote

Share Prices

Counter NameLastChange
AEM Holdings1.1300.030
Alliance Mineral0.125-0.003
Anchor Resources0.014-
AusGroup0.027-
Avi-Tech Electronics0.2850.015
Best World Int.1.360-
China Sunsine1.1400.010
CSE Global0.480-0.005
Food Empire0.495-
Geo Energy0.157-
Golden Energy0.2050.005
GSS Energy0.0840.003
HMI0.715-
ISDN Holdings0.235-
KSH Holdings0.420-
Miyoshi0.043-
Moya Asia0.076-
Nordic Group0.2900.005
Oxley Holdings0.330-
REX International0.0680.001
Riverstone0.915-0.005
Roxy-Pacific0.390-0.005
Sing Holdings0.405-
SingMedical0.380-0.005
Sino Grandness0.0500.004
Straco Corp.0.755-0.005
Sunningdale Tech1.4000.010
Sunpower Group0.480-
The Trendlines0.078-0.002
Tiong Seng0.230-
Uni-Asia Group0.7550.010
XMH Holdings0.153-
Yangzijiang Shipbldg1.5200.010

NextInsight RSS

rss_2 NextInsight - Latest News

Online Now

We have 3280 guests and no members online