Midas    Last:0.192   -

Midas

teresa, if contra fail i will buy.  general rule - no risk no gain

 

Tuapekgong your number 9413 this weekend 4D can strike or not? in other post you do divination about the market. how about 4D? tempted to buy this weekend, leh..

hope the website address is useful to you. sometimes philip have talks which you can attend. I not philips staff to promote, just an account holder. Their platform is very easy to use but only frustrating when system down during those times when heavy traffic.

 

ericsim, its very dangerous to contra if you don't have the spare cash, esp in these uncertain times, remember last month a lot of contra players got whacked. So I try not to contra if money no enough.

 

go to www.poems.com.sg/cfd/ for the full details on what is cfd, charges, leverage, etc... long story, lah..

Be warned CFD is quite risky as may overtrade due to the leverage. Discipline, discipline,discipline..

 

 

poems CFD...sounds interesting...sounds better than contra...teresa,can explain more?

 

teresa, as what i know, shorting only allow within the day. Basically (my opinion) this counter not bad, you should contra instead of shorting b'cos contra take T+3days for settlement. I have make some coffee $$$ from contra now queing at 1.43....wish me good luck 

 

Poems CFD allows long and short trades. Need to close positions within a month.

 

I'm using Poems CFD

 

Ya, i wanted to ask the same que too. I thought shorting is only for that day. Is there any other options to allow us to buyback more than 1 day?

patie

 

i thought shorting u need to buy back at the same day?

 

nickyng help need your advise. I shorted at 1.47 yesterday then went up to 1.50. should i hold or buy back at 1.43? You the expert in shorting, man. Thanks

 

this counter worth 1.00 after the joint venture failed.

 

No one value this share.... dangerous counter ...

 

how long can the director substaint to buy back the share??? he will run out of cash pretty soon.

 

If you dare, just go ahead to short this counter.  I was told by my broker, the directory is always support the stock price & keeping buying the stock from open market whenever it is drop (check out the detail from SGX).  The company has very strong cash flow and project

http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_2FF1AD11ED4CE8A848257330002F308F/$file/Announcement_Q2FY07.pdf?openelement

You sure will regret if you short this counter, except you did you on Tue due the the rumour.

 

price too high, the current orice is with the big projected factored in and now the big project is gone this counter potential earnign oso gone. price may dip anytime.

 

time to short this babe.

 

nah...my failed attempt attack to SHORT this burger...very firm at 1.36 siah after DBS issue BUY call :P never...fight another day....hee...perhaps switch to contra? hee....

 

Aluminum Corp of China, or Chinalco, has paid 1.2 billion yuan for a 75% stake in Northeast Light Alloy (NELA), state media and company officials said on Tue, apparently beating out Midas.

The news caused a 9.5% drop in Midas, which last year had announced its intention to form a jv to run NELA, China's largest manufacturer of aluminium and magnesium alloy.

"We have not received any official notification. We are checking with the relevant authorities and will make the necessary announcements when we have an update," a Midas spokeswoman told Reuters when asked about the Chinalco deal and the status of the proposed jv.

Midas said last Sep it would form a jv with three local government investment arms and state-owned nickel firm Jinchuan Group Ltd. that would "leverage on the production facilities, market presence and production capabilities of the existing NELA."

"Midas had a plan to form a jv but it never materialized. The decision (to sell to Chalco) was taken by the assets supervision commission and the Harbin government," an official surnamed Rong at NELA's board office told Reuters.

Midas planned to inject 300 million yuan for a 30% stake. The venture would construct a new plant to manufacture super large special aluminium plates and sheets, Midas said in a press release on Sep 12 '06.

Founded in the 1950s, NELA had 1.089 billion yuan in sales in the first half of '07, but only 51 million yuan in net profit. It makes aluminium and magnesium alloy for military and civilian use, as well as processing machinery.

"(The news) indicates that the Chinese government wishes to keep NELA solely in domestic hands (as NELA supplies significantly to the military) and that they are not prepared for foreign participation in NELA," DBS Vickers Securities analyst Paul Yong wrote in a research note on Tue.

The failure of the jv would cut Midas's forecast earnings per share for fiscal year '08 by 10%, Yong said. He maintained his 'buy' rating but reduced his target price for the stock to $1.84-$2.06 a share.

Following the sale to Chinalco, the remainder of the company's 1.6 billion yuan of assets is held by an arm of the government of Harbin, in China's far northeast, the China Daily reported on Tue.

State-owned Chinalco is China's largest aluminium producer and the parent of Aluminum Corp of China Ltd, or Chalco.

Midas supplies aluminium alloy extrusion production to infrastructure firms in China, and has a jv in Nanjing.

Update from Midas

The Company received written notification that the proposed jv has not received regulatory approval. The Company respects the decision of the PRC regulatory authority in this matter. As the proposed jv has not commenced, there is no impact on the financials of the Company and the Group. The Group?s business environment remains positive.

 

i will go and pick at $1.00