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CIMB (18 Mar)
Midas Holdings - Near-term uncertainties but brighter long-term outlook
The proposed reform of China’s Ministry of Railway (MOR) will add to
near-term order book uncertainties – not good for price performance. However,
we view MOR’s reform as a longer-term positive. Traction gained in
diversification efforts should provide order book support. While we anticipate
near-term price weakness from lower order book visibility, we think that
investor demand could return eventually. We slash our FY13 estimate by 75%
due to our lower order assumption but keep FY14-15 numbers. We stay
Outperform with an unchanged target price, based on 17.3x CY14 EPS, a 10%
discount to the 5-year historical average. Catalysts could come from
faster-than-anticipated contract wins.
MIDAS WINS €22.7 MILLION RUSSIAN CONTRACT
NEWS RELEASE
MIDAS WINS €22.7 MILLION RUSSIAN CONTRACT
- For the supply of aluminium alloy extrusion profiles to the Russian railway market
Singapore & Hong Kong, March 19, 2013 - Midas Holdings Limited (麥 達 斯 控 股 有 限 公 司 ) (“Midas” or the “Company”, together with its subsidiaries, the “Group” SGX-
ST stock code: 5EN SEHK stock code: 1021) is pleased to announce that its subsidiary, Jilin Midas Aluminium Industries Co., Ltd (“Jilin Midas”) has won a €22.7 million (approximately RMB182.8 million1) contract from Ural Locomotives Limited Liability Company (“Ural Locomotives”), a joint-venture company between Siemens AG and Russia’s Sinara Group.
Mr Patrick Chew (周 華 光 ), Chief Executive Officer of Midas, said, “This contract from Ural Locomotives is significant as it is our first international contract this year and an
affirmation that our diversification strategy and efforts in growing our international markets are bearing results. Our success in securing this export order is a further testimony of the international recognition of Jilin Midas’ technical capabilities and quality output. This positions the Group well to grow its orders from both international and PRC markets.”
Under the terms of the contract, Midas will supply aluminium alloy extrusion profiles for use in the manufacture of 100 electric train sets (1 train set = 5 train cars), or 500 electric train cars for commuter passenger service. Delivery for the contract is slated to take place progressively from 2013 to 2019. This contract is expected to contribute positively to the Group’s financial performance for the financial years ending 2013 to 2019.
If Midas worth 八 两 金 ， then it's ok ! Hahhaha
NoMoney ( Date: 18-Mar-2013 17:54) Posted:
Swee my old time idol lol don't mind taking a photo with her :) ru hua also not bad
Octavia ( Date: 18-Mar-2013 17:50) Posted:
Hong Kong you can see her....gam boh?
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I think MONEY KING also gd lah.
SJ-Stomp ( Date: 18-Mar-2013 20:42) Posted:
I salute you! No matter what I said to you , you still did not lose your temper.
I own you one! I have created a new user name for you :
HuatBuayTing
I hope you will like it. Now PM you the password n the details.
Good luck to you from now onward!!!
NoMoney ( Date: 18-Mar-2013 18:35) Posted:
| Wa piangz cannot take photo with idol ah haiz... Don't jealous lay. |
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Hi guys, may need to change strategy...
Midas Holdings – UOBKH has a Technical SELL with +12% potential return
Trade with your own final decision pls....
Yah, saya selalu pakai celana panjang, tak suka hitam hitam. Saya belum pandai pakai celana pendek.:)) faham kah?
Saya sudah pergi makan thunder tea rice. Terima kasih! :))
solomonster ( Date: 18-Mar-2013 21:11) Posted:
still put on celana panjang (long)?
GorgeousOng ( Date: 18-Mar-2013 10:29) Posted:
0.50.......one lot done!!!! |
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still put on celana panjang (long)?
GorgeousOng ( Date: 18-Mar-2013 10:29) Posted:
0.50.......one lot done!!!! |
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No point losing temper over such matter cause there is no 100% solution to make everyone happy with ur decision. Stay happy no stress live longer. :)
SJ-Stomp ( Date: 18-Mar-2013 20:42) Posted:
I salute you! No matter what I said to you , you still did not lose your temper.
I own you one! I have created a new user name for you :
HuatBuayTing
I hope you will like it. Now PM you the password n the details.
Good luck to you from now onward!!!
NoMoney ( Date: 18-Mar-2013 18:35) Posted:
| Wa piangz cannot take photo with idol ah haiz... Don't jealous lay. |
|
|
|
I salute you! No matter what I said to you , you still did not lose your temper.
I own you one! I have created a new user name for you :
HuatBuayTing
I hope you will like it. Now PM you the password n the details.
Good luck to you from now onward!!!NoMoney ( Date: 18-Mar-2013 18:35) Posted:
Wa piangz cannot take photo with idol ah haiz... Don't jealous lay.
SJ-Stomp ( Date: 18-Mar-2013 17:58) Posted:
| What ? any thing also can! 大 小 通 吃 Wah pang! Your stand so low meh??? |
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55555 dee mak mak
GorgeousOng ( Date: 18-Mar-2013 18:55) Posted:
Thai puying sui chin chin! 5555555!
Chok dee!
NoMoney ( Date: 18-Mar-2013 17:54) Posted:
| Swee my old time idol lol don't mind taking a photo with her :) ru hua also not bad |
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Thai puying sui chin chin! 5555555!
Chok dee!NoMoney ( Date: 18-Mar-2013 17:54) Posted:
Swee my old time idol lol don't mind taking a photo with her :) ru hua also not bad
Octavia ( Date: 18-Mar-2013 17:50) Posted:
Hong Kong you can see her....gam boh?
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|
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Wa piangz cannot take photo with idol ah haiz... Don't jealous lay.
SJ-Stomp ( Date: 18-Mar-2013 17:58) Posted:
What ? any thing also can! 大 小 通 吃 Wah pang! Your stand so low meh????
NoMoney ( Date: 18-Mar-2013 17:54) Posted:
| Swee my old time idol lol don't mind taking a photo with her :) ru hua also not bad |
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|
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What ? any thing also can! 大 小 通 吃 Wah pang! Your stand so low meh????
NoMoney ( Date: 18-Mar-2013 17:54) Posted:
Swee my old time idol lol don't mind taking a photo with her :) ru hua also not bad
Octavia ( Date: 18-Mar-2013 17:50) Posted:
Hong Kong you can see her....gam boh?
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|
|
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Swee my old time idol lol don't mind taking a photo with her :) ru hua also not bad
Octavia ( Date: 18-Mar-2013 17:50) Posted:
Hong Kong you can see her....gam boh?
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Hong Kong you can see her....gam boh?
This train cannot go holland but can go hong kong
wesely2k ( Date: 18-Mar-2013 14:13) Posted:
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Prepare to go HOLAND.
0.50.......one lot done!!!!
But, did anyone win at present?
SJ-Stomp ( Date: 17-Mar-2013 21:01) Posted:
| Those who make money is the winner!!! |
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