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Midas
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goldenpiggy
Senior |
25-Mar-2011 16:36
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goodness!!!! sudden surge!!! | ||||
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stockwinner
Member |
25-Mar-2011 16:31
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offload at 0.765..... | ||||
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ruanlai
Master |
25-Mar-2011 15:46
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The fallout of S-Chips -What's next? Yet another S-chip in trouble. Yesterday, China Gaoxian requested for a suspension in trading of its stocks after its auditors informed the company that it could not verify the bank balances in two of the company's subsidiaries. Forget about fundamentals (and valuations) like cash balances, dividend payment for S-Chips. As past events have demonstrated, these are no longer important because investors are no longer sure if the auditing process can completely flag out accounting irregularities. In fact, S-chips with strong net cash positions now appear suspicious to some investors. We list in the table below the top 10 S-Chips with the highest net cash as a % of market capitalisation. Investors will definitely be less willing to put money in for S-Chips that we already know. But the question now is: what now? Potential themes that could play out in the market. (i) Switching to Singapore small caps will be evident, especially those with turnaround stories. It makes more sense to use yield and cash position to analyse these companies as compared to S-Chips. True enough, small cap/ penny stocks (local or Indonesian names) are making the top-20 list for gainers and most active trades today. (ii) S-Chips with HK dual-listing could potentially exit Singapore but remain listed in HK. These companies include Sound Global, China Animal Healthcare, Midas, China XLX Fertiliser. (iii) Potential S-Chips de-listing candidates, which are harder to spot, but a closer look at shareholders? list can throw you some clues. |
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DelphinusSnow
Member |
25-Mar-2011 14:55
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maybe lor..but there are 101 other maybes too...best to ask their mgmt all these dodgy numbers. | ||||
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iodium
Member |
25-Mar-2011 14:49
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May be because they will increase their production capacity? From what I understand, MIDAS won many contracts in 2010 that will multiply their production capacity in years to come? (Need to deliver in end of 2011 to 2014) |
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DelphinusSnow
Member |
25-Mar-2011 14:39
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and their FCF is negative wor....their high cash comes from issuance of new shares (share dilution) + bank loan....they seem to be borrowing just to pay dividend... fundamentally, imh opinion, this coy not v sound....just the high DSO itself shows that mgmt is not very good at collecting their most impt cash... just sharing what i found hor...pls dun blame me if this coy shoots up....in the short run this coy may be good technically.....do your own investigation too hor....
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niuyear
Supreme |
25-Mar-2011 14:36
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Wow, he is giving warning.
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Isolator
Supreme |
25-Mar-2011 14:36
Yells: "STI is hard landing to below 2000..." |
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hmmm.... Already say is still in uptrend.... | ||||
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Joe2020
Veteran |
25-Mar-2011 14:34
Yells: "I am the Oracle sent forth unto you that ye shall be warned" |
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SELL NOW! | ||||
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hotokee
Veteran |
25-Mar-2011 14:20
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Wa, wa, so scary arh? Then I sell loh, but only after 3 months.
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Isolator
Supreme |
25-Mar-2011 14:13
Yells: "STI is hard landing to below 2000..." |
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Price reflect future.... What is available to retail is no longer important factors to look or bother with... Market tell everything.... Enjoy.... |
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DelphinusSnow
Member |
25-Mar-2011 13:16
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i think more alarming is that sales did not increase much but cash + AR more than doubled?
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DelphinusSnow
Member |
25-Mar-2011 13:11
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calculate from their last report submitted to SGX http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_0B4BCE7A1C5FFED74825784200351FDC/$file/Midas-FinalResultAnnouncementHK.pdf?openelement
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knightrider
Elite |
25-Mar-2011 13:10
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Where you read from ? So scary, after sales, take nearly 2 yrs to collect back cash. Walau, should employ debt collector...........famous Ah Loong in " toa poh" , always famous to write O$P$ in red. I saw they write on lift and stair-case, some in very good hand-writing.
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niuyear
Supreme |
25-Mar-2011 13:04
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Thank you for your call to buy, sold yesterday. :)
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DelphinusSnow
Member |
25-Mar-2011 13:03
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people...dun mean to pour cold water...but what kept me from buying Midas is: comparing FY10 to FY09 results Sales increase 38% A/c receivables increase 82% Cash increase 142% and AR turnover is 526 days....very alarming given that most companys will give 60 days, max 90... pls beware. |
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knightrider
Elite |
25-Mar-2011 12:53
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S$0.77 not even touch leh, how to off load ? LOL. | ||||
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Isolator
Supreme |
25-Mar-2011 12:47
Yells: "STI is hard landing to below 2000..." |
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hi guys, if you hold big position, it is always good to offload bit by bit as the price go up... I know you may want to earn more with one big trade, but only money in your bank is real... Just my view.... |
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sarsar
Senior |
25-Mar-2011 11:39
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Thanks Isolator... I went in at 0.72. Good Luck to all. |
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goldenpiggy
Senior |
25-Mar-2011 11:30
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Thanks lots... still in the process.... cheers!
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