Midas    Last:0.192   -

Midas

Brought at $1.47 30 lots a few days back,any advise to hold on or to cut lost for tis counter ? tks

 

Chairman's brother Chew Hua Seng bought 4.6 million shares increasing his stake in Midas from 5.74% to 6.29%.
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Good Luck & huathuat!

 

I thought the case was cleared liao. You mean it re-surfaced?

 

This is the best counter to short now...Expect to trade at sub $1 by national day!

 

Rumour of Chairman got investigated for corruption, price fell to 1.20 plus. Now it's at that level. Forced-selling has no impact on a company fundamentals. If you have the holding power and there are no negative news to support the fall; do you think it's a golden opportunity to buy and hold for long term? Think about it as Pre-National Day Sale? Haha. Greed & fear are investors worst enemies. Good luck & huathuat.

 

sob sob...

 

So what next.north or south.

 

Any advice whether to buy at opening price tomorrow morning?

 

MIDAS SECURES RMB 58.5 MILLION MRT CONTRACT

- Sole supplier of aluminium alloy extrusion profiles for Shenzhen MRT Line 1 Extension project

http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_7D1457BA053CCE9C4825732500365346/$file/Midas-NewsRelease-20070727.pdf?openelement

 

ANNOUNCEMENT

With reference to the article in The Business Times dated 27 July 2007 and headlined "Midas CEO raises his stake to 5.74%", the Board of Directors of Midas Holdings ("Midas") would like to clarify that the purchase of shares in Midas and the increase in stake was by Mr Chew Hua Seng. Mr Chew Hua Seng is not the Chief Executive Officer of Midas, as reported. The Chief Executive Officer of Midas is Mr Patrick Chew Hwa Kwang.

 

Singapore's 40 Richest
#11 Chew Hua Seng Age 52
Net Worth $395 million

has increased his stake in Midas from 4.99% to 5.74% over two transactions on 25 & 26/7/07.

 

Will gain ground soon. Hitting 1.70 by next week should be no problem. And further upside after 7th Aug when the result is out. Vested interest. Hold on........

 

This stock will also shoot up when dust clear

 

Thks, Lets' hope it can regain some lost grd...

 

hi heatseeker,

tis info is sent by me by broker 

 

Wow, Thks Investment... This is good news, may I ask where did you get the info from? Lets' hope it can recoup some of its lost "Midas" touch...I think fundamentally this is a good company and is worth holding on.

 

MIDAS, csfb upgraded to OUTPERFORM from Neutral with target price 42.35
- Midas' shares have been battered down on unsubstantiated reports that its chairman had been arrested on bribery charges, whose presence in Singapore last Friday has since proven these allegations false.
- We had previously downgraded Midas on stretched valuations, despite our bullish outlook on the China railway sector, conviction on the company's business model (reaffirmed by our recent tour of its operations in Jilin), progress at its Puzhen JV operations (which we had visited as well), and its strong relationships with Siemens and Alstom (as evident by steady contract wins).
- For now, we are convinced that management had attempted to execute on the 'best' course of action under current circumstances. Going forward, strong earnings momentum, further contract wins, and more importantly, possible completion of its strategic CNELA JV, should drive further rerating of its shares.
- We will review our forecasts and TP after the 1H07 results, (mid- August). We see 47% potential upside to our SOTP-based S$2.35 TP and thus raise our rating from Neutral to OUTPERFORM

 

managed to reap $ twice. unload all this morning....

Saw somewhere there will be some profit warning announcing in early Aug - if price drops drastically then, good opportunity to scoop up again. 

 

This one is picking up to show the wrong news and rumour last week.

 

I did not received any downgrade from any analysis report !