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10021-10040 of 10484
bought back heng heng at 70.5
178investors ( Date: 09-Jun-2009 15:21) Posted:
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shorted 1000 lots at 71c.
hope it don go wrong or habis.
Congrats to those holding Midas, now charging up on extremely high volume.
IMO, next to charge up, if I m not wrong, is Ausgroup.
Dyodd. Not am inducement to buy or sell
richtan ( Date: 09-Jun-2009 14:46) Posted:
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richtan ( Date: 09-Jun-2009 12:37) Posted:
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richtan ( Date: 09-Jun-2009 11:29) Posted:
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From Kim Eng:
Midas Holdings – Company Update (James KOH, DID: 64321431)
Previous Day Closing price: $0.635
Recommendation: BUY
Target price: $0.82
Considering a fourth production line
In an interview with Business Times recently, management highlighted that it is considering building a fourth production line as it bids for more rail contracts in China. We believe this would be dependant on overall contract order flow as well as the utilisation rate for its third production line once it is ready by 1st quarter 2010.
Could boost capacity by a further 33%
A fourth production line would probably add 10,000 tonnes or 33% to the existing 30,000 tonnes/ annum (including third line) capacity. However, we believe any concrete plans for this would only materialize after the third line is up and running. This means the earliest completion date would likely be in 2H2011, taking into account previous expansions.
Preliminary estimates of profit contribution
We have not factored this into our forecasts, but our preliminary estimates suggest this could potentially add around $60million in revenue and $13million in net profits once it is fully operational. We also believe such a line would involve capital expenditure of around $40million which can be funded by a combination of cash and debt.
Targeting $200m worth of contracts
Management is currently chasing $200m worth of contracts to supply aluminium alloy profiles for use in the manufacturing of high-speed and metro trains in China. This includes projects such as the Beijing-Shanghai high-speed railway line and metro projects in Shanghai, Hangzhou, Guangzhou and Xi’an.
New contract announcements likely as 3rd line completes
We believe the probability of new contract announcements will increase as the third production line comes onstream. Customers are unlikely to commit new orders without the production capacity in place. Furthermore, we note that the third line is for a different profile size from existing lines and customers may require some trial sample. Our target price and forecasts remain unchanged.
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Year End Dec |
2007 |
2008 |
2009F |
2010F |
2011F |
|
Sales (S$m) |
140.4 |
144.5 |
138.9 |
169.1 |
184.2 |
|
Pre-tax (S$m) |
35.3 |
40.7 |
47.4 |
59.0 |
65.0 |
|
Net profit (S$m) |
31.9 |
32.7 |
37.4 |
46.0 |
50.7 |
|
EPS (cts) |
3.8 |
3.9 |
4.4 |
5.4 |
6.0 |
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EPS growth (%) |
24.8 |
2.3 |
14.3 |
23.0 |
10.2 |
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PER (x) |
17.0 |
16.4 |
14.4 |
11.7 |
10.6 |
|
EV/EBITDA (x) |
11.9 |
10.6 |
10.1 |
7.9 |
6.9 |
|
Yield (%) |
3.1 |
2.4 |
1.6 |
1.6 |
1.6 |
Opss dotted line in the chart.
Here is updated one.
Outlook for MIDAS
Here is the update, pls ignore previous posting.
MIDAS is running into consolidation.
2 possible outcomes.
1. flat consolidation A-B-C
Uncomplete C wave expecting to be completed near or slightly lower than low of A wave (thick blue line)
2. A 5 waves triangle A-B-C-D-E
C wave completed heading for D(up wave) and E(down wave) within dotted lines being the range.
Trend should continue. See chart.
Just my view, for sharing and learning, please comment. Learning through critique for improvement. (Not an inducement to trade).
Make a mistake in my finding for MIDAS. Overlook the contra system. This is a probelm with Singapore stock. Apologize.
Netherless, slight increase in volume is noted. 2 more minor waves to go, 1 up and 1 down.
Volume should increase with prices in the next few days in the up minor wave. Chart will be posted once it is available. ( a picture tell a thousand words)
Just my view, for sharing and learning, please comment. Learning through critique for improvement.
(Not an inducement to trade).
richtan ( Date: 08-Jun-2009 11:19) Posted:
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pilotfish ( Date: 08-Jun-2009 08:53) Posted:
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Correction. Intresting chart with double expanded flat. Wave count included. See Ausgroup posting.
Just my view, for sharing and learning, please comment. Learning through critique for improvement.
(Not an inducement to trade).
Ausgroup chart doesn't look good. Look like there will be a downward wave approaching soon...
Just my view ...
richtan ( Date: 07-Jun-2009 23:25) Posted:
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Another bullish counter to lookout for is Ausgroup which has quite silmilar pattern as Midas.
See my posting in "Ausgroup" thread for the chart pattern.
Hi pilotfish,
I m glad u finally understood my posting, sorry if my posting is not well explained causing any confusion.
Not only a rising flag as per your chart analysis but also a bullish rising wedge consolidationwith plagpole as per my chart analysis below.
If nothing goes wrong with the mkt in general, it should be bullish for Midas
richtan ( Date: 05-Jun-2009 12:57) Posted:
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