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khng2012 ( Date: 05-Sep-2012 15:51) Posted:
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ALL IN WITH MY CPF INVESTMENT!!!!!!!
chinese officials starts to learn from Sg tat when the econ is bad it is the best time to build infrastructures. i think maybe hoping this chinese will give us some meat too.
in fact sg always kept this obvious strategy quiet n never really hooha abt it.
The rail business in China is growing at a very fast pace to replace the old carriages and to cater to new routes. I would keep Midas for long term.
NEWS RELEASE: MIDAS STRENGTHENS ITS FOOTHOLD IN CHINA’S POWER INDUSTRY WITH RMB123.4 MILLION NEW CONTRACTS
http://info.sgx.com/webcorannc.nsf/AnnouncementToday/07E534EAB33D8B8E48257A6F003234A4?opendocument
Midas Holdings wins 2 new contracts worth $24.3m
WRITTEN BY THE EDGE WEDNESDAY, 05 SEPTEMBER 2012 08:35
Midas Holdings said its subsidiary, Jilin Midas Aluminium Industries Co., has secured two new contracts worth a combined RMB123.4 million ($24.3 million), for the supply of aluminium alloy tubings.
Awarded by leading power industry players, Xian XD Switchgear Electric Co., and Xian XD High Voltage Apparatus Co. Ltd, the two contracts are valued at RMB100.3 million and RMB23.1 million respectively.
Patrick Chew, CEO of Midas, said, “Midas has made good progress this year. The latest contracts not only attest to customers’ confidence in our quality products, but also demonstrate our versatility in product diversification and growing our core aluminium alloy business beyond its traditional stronghold in the PRC railway sector.”
Delivery for the abovementioned orders are expected to take place between 2012 and 2013.The contracts are expected to contribute positively to the Group’s financial performance for the year ended December 31, 2012 and 2013.
In addition, the group said that Jilin Midas has signed a Strategic Cooperation Agreement with Xian Switchgear Electric. The tenure of the agreement is for a one-year period, with an option to renew for another year upon expiry. Under the terms of the agreement, Jilin Midas will continue to enjoy preferred supplier status as long as Jilin Midas upholds its widely recognised high standard of manufacturing and its quality products are priced competitively.
In addition, the agreement will also facilitate the exchange of information relating to aluminium alloy specification requirements in the China power industry, as well as Jilin Midas’ manufacturing capabilities and technologies.
x1uhu1 ( Date: 03-Sep-2012 09:31) Posted:
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x1uhu1 ( Date: 03-Sep-2012 09:29) Posted:
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MIDAS’ JV COMPANY NANJING SR PUZHEN RAIL TRANSPORT &
CONSORTIUM PARTNERS SECURE RMB588 MILLION INTERCITY RAIL
PROJECT
- For the supply of 90 train cars to the Nanjing-Gaochun Intercity Rail
Project
- NPRT owns an estimated 76% share of the contract
- Latest contract win brings NPRT’s total year-to-date contract wins to
five contracts with a total worth of more than RMB3 billion
| Name of Announcer * | MIDAS HLDGS LIMITED |
| Company Registration No. | 200009758W |
| Announcement submitted on behalf of | MIDAS HLDGS LIMITED |
| Announcement is submitted with respect to * | MIDAS HLDGS LIMITED |
| Announcement is submitted by * | Chew Hwa Kwang Patrick |
| Designation * | Executive Director cum CEO |
| Date & Time of Broadcast | 14-Aug-2012 19:52:14 |
| Announcement No. | 00304 |
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MIDAS’ JV COMPANY NANJING SR PUZHEN RAIL TRANSPORT WINS TWO
METRO CONTRACTS WORTH RMB1.4 BILLION
- First contract worth RMB663 million to supply 138 train cars for the Wuxi
Metro Line 2 Project
- Second contract worth RMB756 million to supply 162 train cars for the
Hangzhou Metro Line 2 Project
- NPRT’s total year-to-date contract wins increases to four contracts
worth a combined RMB2.8 billion
Most of S-chip or company thats doing business in china is reporting earning loss Q after Q in this bad enconomic slowdown.
So when will they rebound like last time china growth story again? Or keep falling and falling? Or sudden china QE help? We r all guessing too :)
Those S-chip thats still can acheive outstanding earning reports must check account carefully liao, really ah? how ah? While most others company business down?
Though yesterday's closing was Doji and RSI dipped down to 30%, overall few days candlesticks and also other parameters do not show sign of uptrend rebound again..
-DI is about to cross +DI and it traded below 20days EMA showing bearish sentiment will be hitting this stock.
My personal view only
Star-Trader