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24-Sep-2009 10:53

Midas / Midas

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Its increasing volume yesterday and today is not coincidental. Expect good performance from Midas very soon, as its been sleeping in 80 cts region for too long. Its turn to reach for $1 and beyond is here.

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23-Sep-2009 09:31

Midas / Midas

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Have confident it will move after the HK listing announcement

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23-Sep-2009 09:26

Midas / Midas

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Thanks for you comment. Let work toward making more profit for all of us.

All the best to your investment. BTW have u buy Midas?

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23-Sep-2009 09:17

Midas / Midas

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U r so insulting. Hope u say something more constructive.

God bless u

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23-Sep-2009 09:10

Midas / Midas

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Reaching $1.00 soon. Short at your own risk

Good luck

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23-Sep-2009 09:08

Midas / Midas

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Finally break at $0.92 with strong buying interest:

05:24	0.915	10,000	Sold to Buyer
09:05:17	0.915	911,000	Bought from Seller
09:05:16

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23-Sep-2009 08:55

Midas / Midas

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KIM ENG ----

Midas – Company update (James KOH 64321431) Previous day closing price: $0.865
Recommendation: Buy (maintained)
Target price: $1.15 (Previously $0.985)
Still packing the theatre
We recently hosted a roadshow for Midas in the US, which was very well-received by funds. The exciting growth prospects within the China rail infrastructure space continue to capture the imagination, with the main discussion points being the competition within this space, the sustainability of growth for Midas and the progression on expansion.
A smaller share of the bigger pie
While Midas still holds a clear lead in terms of certification and track record, management expects competition to intensify, with listed peers such as Shandong Nanshan (Shanghai) and Zhongwang (HK) stating their intentions to break into this market. Going forward, they believe achieving a lower 50-60% market share of this growing pie would be a more reasonable target, which will still ensure strong growth.
Life after trains
Improving the rail infrastructure network is an important government initiative, with current directives providing clear visibility over the next 2-3 years. Even subsequent to the stimulus package, we expect this program to continue. Over the longer term, management will look into other feasible, promising industries such as aviation to continue its growth.
Progress on the installation of 4th and 5th extrusion lines
We now expect the 4th and 5th extrusion lines to come onstream by 2Q09 and 4Q09, earlier than our earlier estimates. Our model factors in Midas winning a 50%-60% market share of the upcoming round of orders, which is twice the size of the first round. This will already keep all its five extrusion lines busy at about 75% utilisation.
Much more tracks to run
We adjust our earnings to take into account higher effective capacity in FY10 and higher tax rates in FY11. We now peg our target price to 20X FY10E. We believe the Chinese rail industry is still at its early-mid cycle. With the Ministry of Railway due to announce the 2nd round of high-speed train orders, we expect orders to flow down to Midas within 3-4 months.

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23-Sep-2009 08:45

AusGroup / AUSGROUP: 1H09 revenue up 28.8% to reach A$260.5 m

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With good market sentiment , dow +50pts , Ausgroup with strong fundamentals should break $0.80 today.

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23-Sep-2009 08:35

Midas / Midas

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With Dow up +51 pts, most counter should be trade higher. The listing in HK should be above S$1.00 . So expecting MIDAS to move in the direction towards $1.00 soon.

Short at your own risk. Good luck.

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22-Sep-2009 16:39

Midas / Midas

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Just buy some, will be moving higher soon.

Best wish to these who vest

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22-Sep-2009 15:44

Midas / Midas

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U may be right, looking at the recommendation by some brokeragehouse such as KimEng and Ocbc, TP: $1.15.

May buy some now.

Thanks for your advice.

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22-Sep-2009 15:07

Midas / Midas

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Dilution because listing of share in HK. Midas had advice shareholder to exercise caution when trading in their share.

That is "Buy anD sell at your own rise"

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22-Sep-2009 14:55

Midas / Midas

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So dilution cause the price to go up. Sound funny to me , no logic.

Price moving up is to the advantage of the company for second listing but not to the advantage of small/retail invester.

Good luck for these who vest.

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22-Sep-2009 14:45

AusGroup / AUSGROUP: 1H09 revenue up 28.8% to reach A$260.5 m

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No one can give me a confimation. So should be on la.

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22-Sep-2009 14:44

Midas / Midas

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Pls note that dual listing in HK mean dilution , so can we consider that as good news?

To me is BAD NEWS.

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22-Sep-2009 14:36

Midas / Midas

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Be cautious heavy sell down by BB.

14:31:56	0.895	718,000	Sold to Buyer
14:31:54	0.895	100,000	Sold to Buyer
14:31:53	0.895	20,000	Sold to Buyer

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22-Sep-2009 14:26

Allgreen / Allgreen - Can buy ?

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GOOD NEWS

Allgreen has eight sites in China, six through a JV with Kerry Properties and Shangri La.
For JV projects, total equity commitment is around S$700m. Allgreen plans to release two residential projects in the near term:
a site in Tianjin and a site in Chengdu.

Allgreen's China Segment: (Source: 28/8/09 CIMB-GK Research)

Financing update:
Allgreen has eight sites in China, six through a JV with Kerry Properties and Shangri La. For JV projects, total equity commitment
is around S$700m, of which around S$450m is for the land and S$250m for construction. In the last two years, Allgreen has paid
down the bulk of the land-cost commitment. We expect proceeds received from recent property presales in Singapore to take care
of the rest. Management guided that Loan-to-Value (LTV) ratio for its China developments ranges from 40% to 50%. Assuming a
40% LTV, we estimate a total development cost of S$1.1bn-1.2bn. Our model accounts for this. We believe financing for the bulk
of the debt component is already in place.

Planning to push out projects soon:
selling price targets bullish. Allgreen plans to release two residential projects in the near term: a site in Tianjin and a site in Chengdu.
For the former, construction is underway. Management guided that residential prices in Tianjin have gone up from Rmb8,000psm to
Rmb16,000psm. We believe it plans to use this as a benchmark for its Tianjin project. For its Chengdu project, Allgreen is looking at
Rmb12,000-14,000psm. Management believes that units in certain projects in the area are now commanding as much as
Rmb17,000psm. While the tone of the guidance is positive, our cross checks with our China analyst, Alice Chong, suggest that
optimism should be kept in check. For properties in Tianjin, ASPs of Rmb16,000psm are achievable, but only for high-end projects
that are located in very good districts. As a reference, Yanlord, a high-end developer in China, recently launched and sold a project
in Tianjin at Rmb16,000psm while Guangzhou R&F also achieved ASPs of Rmb10,000-16,000psm. For Chengdu, she believes ASPs
of Rmb17,000psm are mostly reserved for super-luxury projects. By and large, properties in the area are still fetching Rmb6,000-
8,000psm.

Raising RNAV estimate and target price:
maintain Outperform. We raise our ASP assumptions for Allgreen’s Singapore and China projects, based on the latest guidance.
In particular, our China ASPs have been raised from Rmb10,000psm to Rmb12,000-14,000psm, to reflect optimism on China properties.
Our estimates are still 10-15% below guidance.

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22-Sep-2009 14:23

AusGroup / AUSGROUP: 1H09 revenue up 28.8% to reach A$260.5 m

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AusGroup had partner an australia company, should get a slice of the Gorgon Project. Is it worth waiting for for the announcement.

Gorgon Project - Producing Liquefied Natural Gas in Australia

Should buy b4 the announcement.

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22-Sep-2009 10:59

Allgreen / Allgreen - Can buy ?

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TP by DBS vickers on 18 Sept
(1) value in the mid-caps, BUY Allgreen (TP
S$1.36) and Bukit Sembawang (TP S$5.94);

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22-Sep-2009 10:56

Midas / Midas

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Be cautious, heavy selling soon by BB as they take profit.

Trade with care for small investor.

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