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Midas
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skk888
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09-Sep-2012 00:30
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Just checked more from its financial reports. Made a mistake, they didnt make losses, but their associated company did. However, the latest quarter profits dropped to RMB 1.5m, a decline of 97% yoy. But their NAV is above current trading price which makes it attractive to enter. And dividend they distributed last year was $0.005 per share. If we get it this year or slightly lesser, it will be around 1%. Yes, saw that they have an increase in inventory under their assets. And the trains for the latest announced projects will only start delivery from 2013, though the supplier may get the inventories earlier than that. http://midas.listedcompany.com/newsroom/20120814_194741_5EN_93533C185E8A2B3248257A5A00390462.1.pdf http://midas.listedcompany.com/newsroom/20120903_082619_5EN_044A1A97C3D7999E48257A6E0001EF5D.1.pdf Nevertheless, I think other positive contributions, if any, for the next 2Q will not be able to make up for the subpar performance the last 2Q. The results will still be low compared to 2011, and therefore the potential earnings does not match the previous share price in 2011. To require holding it for 2Q or more is a conservative estimate, though I may be wrong. For investors who can hold at least 6 months, I think this is quite an attractive. If the price drops back to .335 it will be best. If it exceeds .40, I personally would not enter. Let's see next week. :)
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khng2012
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08-Sep-2012 23:29
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I don't think it take so long. Metro train start to resume its tender in 2Q. So u can see the project is awarded. Meanwhile, it means that railway ministry start to take the train which is on hold for about a year. Midas doesn't stop its production since the accident last year. The inventory is build up continually in last 3Q and is almost equal to 2 quarter revenue in recent release result.
If i am not wrong, the train supplier will take the components of train from midas which is on hold from long time in 3Q. The revenue of midas in 3Q and 4Q will be boost 50% to 100% respectively. With the continual order and the boost revenue in 3Q and 4Q, will bring midas double its current price and may be back to 1 dollars before may 2013. I may be wrong but i just don't want to miss the chance. I just don't see any share has the same potential in SGX can double up the price in 6 to 9 month times.
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khng2012
Master |
08-Sep-2012 23:17
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It is normal to have correction on monday. But after that? It will continue fly.
Not because of high speed train crash in last year, we won't have the chance to enter below 40 cents. Be reminded, infrustructure project like railway is a very long term investment and future development. Although it doesn't earn a lot of money like singapore mrt but without it the economic won't move. See what happen in bangkok and jakakta and singapore, you can see how metro train can solve the traffic problem in a high density of population city. Then you see japan how high speed train are useful to connect two high density of population city. This is china issue and they will do it. To me, i know midas will bring me money.
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khng2012
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08-Sep-2012 23:06
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I vested Ausgroup at average of 36 cents. This is the most undervalued stock in same industry. Hope it will continue fly on monday.
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skk888
Veteran |
08-Sep-2012 18:25
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Even If the co get the recently
Accounced projects, it will take time to be in their books. They mass big losses this year. Think it will take more than 2q to see improvements in their financials. Use Cpfis to invest is good. Their next Q results will be out Mid nov, hope no more profit warnings. |
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hlfoo2010
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08-Sep-2012 18:00
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Are you sure midas at the right side ??? Ok if they are at the right side , but do you check whether they are at the front side or Back Side ????
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JustinQuek
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08-Sep-2012 16:48
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I am bearish of this Midas. at 0.385 is not a good entry point 0.33 yes China Railway yes say award contracts.Despite so many contracts awarded financial statements reflect low contribution margin Railway industry high local debt. Hmm hate to pour water but monday this will go down.
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wanglausern
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08-Sep-2012 16:38
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I like the story behind Midas, but I'm weary of the Chew Brothers. Look at Raffles Education which is owned by the other Chew.
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rutheone1905
Veteran |
08-Sep-2012 13:49
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i m not vested in midas but i monitor it along with STEng which also got buz in china rail. midas dived previously due to train investment in china dwell n now the investment in rail is so much more then prior to midas dived. so with inflation all add in, midas should theoretical chiong to its formal glory days. i think along the way ppl tat kena trapped will sell to profit. |
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tedsokny
Senior |
08-Sep-2012 10:58
Yells: "Have a Angkor Beer!" |
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khng2012, wat other counters u are in...i like to take for ref... yupz cos CPF all in...more misc charges by agent bank etc then tis counter low div oso...hahaha
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khng2012
Master |
08-Sep-2012 09:48
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When i all in my cpf 3 days ago, people laugh at me. 2 day up more than 10%, all quiet liao.
Never mind still can board the train. Ignore any crisis, even it come. Midas still will be up till 1 dollar or 2 dollar. Then i can clear my HDB loan. Hahaha. |
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tedsokny
Senior |
08-Sep-2012 09:36
Yells: "Have a Angkor Beer!" |
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Agreed! this counter will be 1 of the hot property nxt wk...btw ocbc TA 0.41, if nvr forget vickers is 0.45...u are very optimistic at $1 before yr end...in my opinion if no global mrkt crash...only major correction, it may find its support at 0.35 lvl as now every1 know its potential and move up to 0.65 lvl... khng2012 is very gung-ho all in with CPF monies...real salute...cos though vested i dun hv such guts... cheers!
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tonylim
Master |
08-Sep-2012 09:22
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S$195 bilion budget for infrasture in China to stimulate the economy , and with the Thomson Lines and other lines building up in Singapore...MIDAS is the stock to watch out for !!! Hitting sbove 40 cents soon and moving towards $1 befor the year end. Catch the train now and reap the profits along the way!
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tedsokny
Senior |
08-Sep-2012 09:01
Yells: "Have a Angkor Beer!" |
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I like this sentence " midas happens to be on the right side of the deal" big china always listens to small sg....hope the gossip is true...btw our jurong line extension was awarded to a china firm correct? china nd to curb the property sector so to spur their slowing econ best way is to whack up their infra....well vested.
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rutheone1905
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08-Sep-2012 01:41
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this is a gossip i heard from ex colleague working in ST tat got project with china rail. they r saying the chinese r convince by our garment tat rails r the best transport for big country like china n china should buy up all resources needed for infrastructure during crisis time ( Sg good in this). somehow they r convince n start to serious look into building infrastructures. midas happens to be on the right side of the deal. ST Eng also one of the beneficiary too. |
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Nokita
Senior |
07-Sep-2012 22:09
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`MIDAS: Will its train recover speed fast next year? |
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khng2012
Master |
07-Sep-2012 17:16
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CROSS 37CENT RESISTANCE. NEXT ONE IS 39CENTS | ||||||||
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tedsokny
Senior |
07-Sep-2012 14:41
Yells: "Have a Angkor Beer!" |
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More orders for core business from multiple sources. Besides waiting for orders from the high-speed rail segment, Midas has also been working on growing both its overseas rail orders (such as those recently won in Europe and Russia) as well as non-rail related projects (power and industrial sectors). Even without high-speed railway projects, Midas's order books could climb to Rmb1bn from Rmb600m from contract wins from China metro projects, overseas orders and non-rail related segments, which it has been winning and should see more of in 2H112. Brighter prospects for associate NPRT. NPRT's contribution for 1H12 was a loss of Rmb18.7m, which resulted from a lower number of train carriages being delivered. However, we are more positive on NPRT's prospects as it has won a few orders this year and now has an order book of Rmb8bn. With the Nanjing Youth Olympics looming in 2014, it would have to make substantial deliveries over the next 18 months and we expect the rampup to begin in 2H12. We expect NPRT's earnings to recover in 2H12 and for it to post a small loss of c.Rmb5m for FY12 whilst 2013 should be much better. We project NPRT to contribute c.Rmb32m in 2013. |
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tedsokny
Senior |
07-Sep-2012 14:22
Yells: "Have a Angkor Beer!" |
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steady fren...im in but i small fly so no 50 lots la hahaha...but i think this steamer train will be bullet train after chge of leadership le...
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tonylim
Master |
07-Sep-2012 11:21
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Why in the hurry to take profit when it is in the uptrend with more projects coming in and in the pipeline. Just loaded another 50 lots
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