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3501-3520 of 10484
CIMB 3 Oct 12
Current S$0.43 Target S$0.63 Previous Target S$0.41 Up/downside 47.3%
Long Term: Outperform
Maintain Outperform. We roll forward to CY14 EPS, with our
target now based on 15.5x (10%
discount to its 5-year forward average
previously -0.5SD). Our target price
increases accordingly. We change our
valuation to account for potential ROE
and growth normalisation. Stock
catalysts are expected from order
flows, while operational risks are
contained.
Order outlook seems rosy
China’s National Development
and Reform Commission (NDRC) has planned close to Rmb1tr of
urban railway projects up until
2020. CSR is expecting high-speed
contracts by 4Q12 or 1Q13. It typically
takes 3-6 months before contracts
tickle down to downstream players like
Midas this means that orders could
come as early as 1Q13.
Balance sheet still strong
Midas has been relying on
short-term loans and receivable
securitisation to fund its working capital due
to liquidity tightness in the
railway industry. It will be entering
a capital-intensive phase once
it commences the construction of
its new production facility.
However, with sufficient debt headroom
and relatively decent interest
coverage, its balance sheet offers some
buffer in any prolonged order
drought/lack of liquidity. In addition, the
Ministry of Railway has successfully
tapped bond markets in recent months.
Efforts to boost alternative financing
(private investors, local government
financing etc.) are underway.
Valuations
We have applied a 10%
discount to its 5-year forward average P/E on
risks of higher gearing. Nevertheless, potential high-speed
train-car contracts could act as price
catalysts. Midas is trading at 10.65x
CY14 EPS, still attractive against its
historical forward average of 17.2x.
Maintain Outperform.
http://info.sgx.com/webcorannc.nsf/AnnouncementToday/33605795B5D8D73D48257A8C00338B0D?opendocument
dun play play hor...this will boost prospective confidence in s chips
staphy82 ( Date: 03-Oct-2012 19:14) Posted:
| Sorry, noob here. Why do the BBs need to "fake sell"? For what purpose? |
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Sorry, noob here. Why do the BBs need to "fake sell"? For what purpose?
You know why you are panic? because after you buy and sell, you set your buying price at 42cents instead of 37 or 38cents. Once BB fake sell down to chase away the weak holder, you are the first one to be chased away.
We are calm, because we still hold 37cents. Even BB fake sell down to 40cents, we are still calm as usual and wait for next rally.
Hold tight and don't any how sell. Sell away cheap and potential stock is very silly action.
khng2012 ( Date: 03-Oct-2012 17:45) Posted:
No good to buy and sell, then buy and sell again. Ya lah, profit taking is good but also high chance to miss the rally. If price too expensive, you won't dare to go in. Then you will miss the whole rally and regret.
As per past 2 year chart, technically the only resistance is at 43cents. The share price drop 2 years ago since the high speed train crash and corruption. Now all case are closed and new transport ministers are selected, railway project are included in Infrastructure stimulation plan.
All those blur blur one never on board, it is their business. you are on board, you jump ship, you are going to regret in next 2 year in your life.
Technically, Midas has touched 2 times at 43cents (same as Ausgroup), I guarantee you, this is 3rd time, surely break the 43cents resistance. It will chiong all the way up without any resistance till 50 to 60cents and find a support there, after that continue chiong till 70cents and stay there for long. If high speed train project is recovered and add in to Midas order book, 1 dollars is possible.
Don't make yourself regret.
http://sg.finance.yahoo.com/echarts?s=5EN.SI#symbol=5en.si range=2y compare= indicator=volume charttype=area crosshair=on ohlcvalues=0 logscale=off source=undefined
gavinl ( Date: 03-Oct-2012 17:27) Posted:
Thanks for reminding.
Starve oso dun sell. Lol.
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I thought I write before
3 month target achieve liao, which is about 40+cents
6 month target 70cents
9month target 1 dollar.
yabbest ( Date: 03-Oct-2012 17:39) Posted:
Khng2012
Friend what yr TP for Midas? Honestly my anyhow TP is 0.65 oso same as ausgroup haha
currently ausgroup still my biggest hold..but when it rch 0.60, i will take and whack more on midas
tmr both shld be quiet man ...ya man dont sell midas have not even really chiong yet lor
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Ausgroup rally will be faster to make me rich than Midas. Midas still has long journey. The floating share of Midas is about 3 times of Ausgroup. It means BBs has to spend 3 times effort and 3 times times to slowly build up confidence and push it higher.
Still at accummulation stage and very cheap to hold. Bro, don't any how sell. The next rally will be huge and you may be not be so lucky to collect it back. You may have to pay more to buy back. We will not see 40cents soon. |
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No good to buy and sell, then buy and sell again. Ya lah, profit taking is good but also high chance to miss the rally. If price too expensive, you won't dare to go in. Then you will miss the whole rally and regret.
As per past 2 year chart, technically the only resistance is at 43cents. The share price drop 2 years ago since the high speed train crash and corruption. Now all case are closed and new transport ministers are selected, railway project are included in Infrastructure stimulation plan.
All those blur blur one never on board, it is their business. you are on board, you jump ship, you are going to regret in next 2 year in your life.
Technically, Midas has touched 2 times at 43cents (same as Ausgroup), I guarantee you, this is 3rd time, surely break the 43cents resistance. It will chiong all the way up without any resistance till 50 to 60cents and find a support there, after that continue chiong till 70cents and stay there for long. If high speed train project is recovered and add in to Midas order book, 1 dollars is possible.
Don't make yourself regret.
http://sg.finance.yahoo.com/echarts?s=5EN.SI#symbol=5en.si range=2y compare= indicator=volume charttype=area crosshair=on ohlcvalues=0 logscale=off source=undefined gavinl ( Date: 03-Oct-2012 17:27) Posted:
Thanks for reminding.
Starve oso dun sell. Lol.
khng2012 ( Date: 03-Oct-2012 17:17) Posted:
Ausgroup rally will be faster to make me rich than Midas. Midas still has long journey. The floating share of Midas is about 3 times of Ausgroup. It means BBs has to spend 3 times effort and 3 times times to slowly build up confidence and push it higher.
Still at accummulation stage and very cheap to hold. Bro, don't any how sell. The next rally will be huge and you may be not be so lucky to collect it back. You may have to pay more to buy back. We will not see 40cents soon. |
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friend sorry u drive cab right? will starve meh? i still think go take cab licence lor
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Thanks for reminding.
Starve oso dun sell. Lol.
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Khng2012
Friend what yr TP for Midas? Honestly my anyhow TP is 0.65 oso same as ausgroup haha
currently ausgroup still my biggest hold..but when it rch 0.60, i will take and whack more on midas
tmr both shld be quiet man ...ya man dont sell midas have not even really chiong yet lor
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Ausgroup rally will be faster to make me rich than Midas. Midas still has long journey. The floating share of Midas is about 3 times of Ausgroup. It means BBs has to spend 3 times effort and 3 times times to slowly build up confidence and push it higher.
Still at accummulation stage and very cheap to hold. Bro, don't any how sell. The next rally will be huge and you may be not be so lucky to collect it back. You may have to pay more to buy back. We will not see 40cents soon. |
Thanks for reminding.
Starve oso dun sell. Lol.
khng2012 ( Date: 03-Oct-2012 17:17) Posted:
Ausgroup rally will be faster to make me rich than Midas. Midas still has long journey. The floating share of Midas is about 3 times of Ausgroup. It means BBs has to spend 3 times effort and 3 times times to slowly build up confidence and push it higher.
Still at accummulation stage and very cheap to hold. Bro, don't any how sell. The next rally will be huge and you may be not be so lucky to collect it back. You may have to pay more to buy back. We will not see 40cents soon.
gavinl ( Date: 03-Oct-2012 17:06) Posted:
If break 0.43,next resistance is 0.45.
Then stay there for a while till china annouce stimulus or company release new contracts news.
Then u will be a very happy and rich man.
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Ausgroup rally will be faster to make me rich than Midas. Midas still has long journey. The floating share of Midas is about 3 times of Ausgroup. It means BBs has to spend 3 times effort and 3 times times to slowly build up confidence and push it higher.
Still at accummulation stage and very cheap to hold. Bro, don't any how sell. The next rally will be huge and you may be not be so lucky to collect it back. You may have to pay more to buy back. We will not see 40cents soon.
gavinl ( Date: 03-Oct-2012 17:06) Posted:
If break 0.43,next resistance is 0.45.
Then stay there for a while till china annouce stimulus or company release new contracts news.
Then u will be a very happy and rich man.
khng2012 ( Date: 03-Oct-2012 17:00) Posted:
Don't worry be happy...
Just now BB test the selling at 41.5 to 42 cents. Now 43 cents, will break 43 cent resistance in 3 day time, next resistance will be found above 44 cents level |
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If break 0.43,next resistance is 0.45.
Then stay there for a while till china annouce stimulus or company release new contracts news.
Then u will be a very happy and rich man.
khng2012 ( Date: 03-Oct-2012 17:00) Posted:
Don't worry be happy...
Just now BB test the selling at 41.5 to 42 cents. Now 43 cents, will break 43 cent resistance in 3 day time, next resistance will be found above 44 cents level.
gavinl ( Date: 03-Oct-2012 16:53) Posted:
Ha ha ha,0.43 already.
Go go go Midas.
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Don't worry be happy...
Just now BB test the selling at 41.5 to 42 cents. Now 43 cents, will break 43 cent resistance in 3 day time, next resistance will be found above 44 cents level.
gavinl ( Date: 03-Oct-2012 16:53) Posted:
Ha ha ha,0.43 already.
Go go go Midas.
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Ha ha ha,0.43 already.
Go go go Midas.
can tell if u flick it over.
but those sold in mkt r meant to be big so the producers use homones or some technics to make all male so they grow big size.
i need females fast otherwise my full pond of males gonna........heeeee
dingbat ( Date: 03-Oct-2012 13:04) Posted:
lol. Sidetracking here but how can you tell the gender of the tilapia, by the marking , colour or shape?
Some fish can be hemaphrodites as well so you can't find any egg sacs in those sold at the mkts.
rutheone1905 ( Date: 03-Oct-2012 12:13) Posted:
u r like 老 顽 童 。 。 。 。 。 u r rite mkt unpredictable.
sigh me also long little short little to earn kopi lui.
last week my pond done up with water n some tilapia from Seng shong. then my son told me those tilapia r all male one, they r called super males meant for selling in mkt.
aiyo i bought so many males!!!! %^& & ($^@%!#@
so now instead of deep sea fishing i go long kang fish for females sigh damn hot....... |
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Sleeping giant....
Yup.Still holding.
Part CFD and part cash.
Midas strong ba,from 0.415 an hour ago to 0.425 now.
The most drive more hours taxi loh.
stockmarketmind ( Date: 03-Oct-2012 14:32) Posted:
still holding?
gavinl ( Date: 03-Oct-2012 13:27) Posted:
My big mistake to clear my 0.38 at 0.42 and 0.425 earlier.
Then bought back at higher price at average 0.413.
My broker must be laughing at me.
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No explanation? What made u decide to buy at $0.43 & sell @ $0.435 for 150 lots?
Sgshares ( Date: 03-Oct-2012 12:13) Posted:
Can u explain why buy @ $0.43?
stockmarketmind ( Date: 03-Oct-2012 10:53) Posted:
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still holding?
gavinl ( Date: 03-Oct-2012 13:27) Posted:
My big mistake to clear my 0.38 at 0.42 and 0.425 earlier.
Then bought back at higher price at average 0.413.
My broker must be laughing at me.
khng2012 ( Date: 03-Oct-2012 13:10) Posted:
I also hold Midas but at 37cents. Whoever scare and sell your Midas share today are not wise. Look at the volume and price. 42cents with 2000+lots transacted. What this tell you? selling is dry, breakout 43cents soon.
Shall load more...
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bro, i was like that before, yr broker shld be happy, its pple like us gv them $ comm...hahaha
no right no wrong as mrkt so volatile unlike donkey yrs back
waitg to load more
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My big mistake to clear my 0.38 at 0.42 and 0.425 earlier.
Then bought back at higher price at average 0.413.
My broker must be laughing at me. |
