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| 29-May-2013 06:50 |
Midas
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Egypt To Import Chinese Train Carriages Worth $500 Million | ||||
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| 29-May-2013 00:37 |
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Just saw a very positive news on the china railway developments. Talking about tender biddings, contracts just awarded and positive effects on this year's earnings, etc. | ||||
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| 28-May-2013 22:07 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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The markets are on a tear! | ||||
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| 28-May-2013 21:41 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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The bulls are charging! | ||||
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| 28-May-2013 21:15 |
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China transit investment reaches 1.23tn yuan
May 24, 2013, 8:11 am Urban transit investment has now reached 1.23 trillion yuan in China [Getty Images] China’s top economic planner, NDRC, has revealed an urban transit plan for many new cities, including Kunming, capital of Yunnan Province, with a total investment of 63.49 billion yuan ($10.34 billion). China Railways has announced ambitious plans of laying about 30,000 km of new tracks over the next decade. Booming demand for urban rail transit from an increasing number of Chinese cities would reignite the railway equipment industry, the China Securities Journal reported Friday. Urban transit investment has now reached 1.23 trillion yuan in China. The National Development and Reform Commission said that the increased input has accelerated the expansion of China’s rail equipment industry. China CSR and China CNR, China’s two biggest train manufacturers are the biggest beneficiaries of the increased investment. The increasing development of intercity railways will also benefit the rail equipment industry. The Pearl River Delta, one of China’s most developed areas, will spend 118 billion yuan on intercity railways from 2012 to 2020. China CSR and China CNR have produced new trains that specifically cater to intercity railway networks. China Railway has budgeted a total of 650 billion yuan for investment this year. China has suspended bidding for bullet trains in 2010 which had adversely affected train manufacturers. However, the gloomy trend is likely to be reversed in 2013 due to the looming resumption of bullet train bidding, the journal reported. The China Railway Corporation (CRC), newly formed in March 2013 after the breakup of the ministry of railways, has finished preparing for restarting the bidding, which is expected to begin within a few weeks. |
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| 28-May-2013 18:59 |
Vard
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Vard Holdings
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Yah lor! Hahahaa! Huat tua tua ai lai liao! VARD AHHH!!!!!
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| 28-May-2013 18:48 |
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Vard Holdings
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Jiak Bah Buay Bao!
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| 28-May-2013 18:45 |
Midas
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Hello Ms Ong, tomorrow we will be travelling at 110km/h then 220km/h then 330km/h. After the majority of passengers have picked up, we will go full speed ahead. Enjoy you ride!
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| 28-May-2013 16:01 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Charging Ahead...The Dawn of A New Era
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| 28-May-2013 13:13 |
Midas
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May 27, 2013 12:02 am China: Demise of a colossus clears the way aheadThe demotion of the Chinese railway ministry two years ago was a precipitous fall from grace. Previously, the ministry had been a colossus bestriding China, with more than 2m employees, its own police force and court system and nearly as much debt as the government of Russia. Corruption charges against Liu Zhijun, the then railway minister, in early 2011 signalled that Beijing was ready to reduce the power of the ministry. A fatal high-speed train crash in July 2011 expedited the process. ON THIS STORY
ON THIS TOPIC
IN RAIL AND THE METRO 2013In March, after careful planning, the government did the deed, reclassifying the railway ministry as a bureau under the transport ministry. The extent of the downsizing became clear a few months later when it was announced that the newly formed state railway administration would be home to 130 employees, fewer than 0.01 per cent of the ministry’s original headcount Does the drastic cut mean that China’s railway ambitions have also been ratcheted down? The simple answer is no. The restructuring should instead be a boon, ensuring that those ambitions can be fulfilled more effectively and with less corruption than in the past. The objective is “to change China’s rail industry from a planned economy to a market economy”, says Patrick Xu, an analyst with Barclays Capital. “The end result will be a greater focus on safety, efficiency and profitability.” Before taking a closer look at what the restructuring actually entails, it is important to recall the bigger picture: China’s need for more – lots more – railway lines. Despite vast amounts of investment over the past decade, China’s rail network remains overburdened. It carries 24 per cent of global freight volumes with just 6 per cent of global capacity, according to HSBC. The US rail network, hardly a paragon of efficiency, is twice as big. As for passengers, China’s railways transported an average of 11m people per kilometre in 2012, more than five times the developed world average and just slightly lower than India’s rate. The shortage of subways and commuter rail is even more severe. The OECD estimates that average rail density in big urban centres is about a quarter of the global standard. For China’s 10 biggest cities to reach world averages, the OECD believes another 5,000km of subway lines would be needed – and that is before considering the other 100 or so cities with populations of more than 1m. “A considerable deficit in provision needs to be overcome,” the OECD wrote in its 2013 survey of the Chinese economy. Odd as it may seem, eliminating the railway ministry is a crucial step to plugging that deficit. The state railway administration may be much smaller but it is far from the only entity charged with replacing the ministry. Much more important is the China railway corporation, a newly established company that will be the main national rail operator. This separation of powers – with the state railway administration largely responsible for project approvals and safety standards – will free the China railway corporation to focus on planning and financing lines. Over time, the corporation will be joined by other rail operators, injecting more market forces into the industry. “The government will not allow there to be disorderly competition right away, but it will gradually develop an orderly, market-oriented competitive framework,” according to Sun Ning, deputy general manager of an advisory firm managed by the China academy of railway sciences. Confining the state railway administration to a supervisory role has helped alleviate safety concerns. The tragedy of the 2011 bullet train crash, which killed 40 people, exposed the problems in China’s railway push of the past decade. Mr Liu, the former minister, had advocated “leapfrog development”, ordering bullet trains to run at unsafe speeds. China’s trains are now running a little more slowly. As for the ministry’s legacy of debt and questions about how the China railway corporation would manage the Rmb2.8tn ($456bn) in liabilities have been put to rest. Officials have declared that railway debts are fully backed by the government, making them as reliable as sovereign bonds. This has cleared the way for the China railway corporation to issue new bonds and increase spending. In the first quarter of 2013, investment in railway infrastructure reached Rmb54.5bn, up 28 per cent year-on-year. The corporation’s spending power has also been given a boost by the government’s willingness to move to a more market-based system for pricing, especially for freight. This year, Beijing approved a 13 per cent increase in freight charges. When the railway ministry was closed, people rushed to its former headquarters to take photographs as mementoes of the ministry that had loomed so large in Chinese life. But if the restructuring is successful, rail will play an even bigger role in the China of the future. |
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| 28-May-2013 12:59 |
Midas
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Watch for the breakout! | ||||
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| 28-May-2013 12:47 |
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On track for recovery.
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| 28-May-2013 12:05 |
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Midas Holdings Green Shoots Of Recovery First bond issuance by China Railway Corp. The newly formed China Railway Corporation (spun off from former Ministry of Railways) made its capital market debut with the sale of Rmb20bn bonds last Thursday. The proceeds from the bond sales will go towards rail construction, the purchase of rolling stocks and working capital. In our view, it is a necessary move to get China’s ambitious railway plans back in gear and could potentially result in more intensive investments in the second half of this year. We continue to like Midas as a major beneficiary of the investments in China railway sector. Maintain our BUY rating and target price of SGD0.75. Easing concerns on funding source. China Railway Corp inherited all the liabilities of the former Ministry of Railways and the heavy debt burden affects its cash generation ability. Thus, the funding source is crucial to the development of China railway system. People had some concern that the high gearing and the restructuring of the China Ministry of Railways could cause some slowdown in this sector. Now it seems that the funding has returned to normal. Expecting more aggressive investments in 2H13. The RMB20b bonds are just the first batch of the RMB150b bonds that China Railway is expected to issue this year. Total investment in the China rail sector YTD also lags behind the full year investment target of RMB650b due to the restructuring of the Ministry of Railways. That implies more aggressive fund raisings and investments in 2H13. We are looking at RMB500-600m order wins in metro sector in 2H13. But the key point to watch remains the potential resumption of high speed train tenders in 2H13, which can significantly boost Midas’ profitability if they materialize. We are still positive on the likelihood of the tender in 2H13. Patience will be rewarded. We suggest investors to remain patient. Although earnings will still suffer in 2013, we expect YTD order win momentum to continue on the back of more aggressive investments by China Railway Corp, which will result in an earnings turnaround in 2014. Maintain BUY and target price of SGD0.75. |
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| 28-May-2013 07:34 |
Midas
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Chinese rail industry to see more ordersUpdated: 2013-05-24 14:47 ( Xinhua)
BEIJING - Booming demand for urban rail transit from an increasing number of Chinese cities would reignite the railway equipment industry, the China Securities Journal reported Friday. The National Development and Reform Commission (NDRC) on Thursday revealed an urban transit plan for Kunming, capital of Southwest China's Yunnan province, that features a total investment of 63.49 billion yuan ($10.34 billion). The NDRC, China's top economic planner, has approved urban transit construction plans for several cities, including Guiyang and Chongqing, for 2013. Official statistics indicate that total urban transit investment has reached 1.23 trillion yuan thus far, of which 189.6 billion yuan was used to build 337 km of subway lines in 2012. Another 220 billion yuan will be used to build 290 km of subway lines in 2013. The increased input has accelerated the expansion of the rail equipment industry. China CSR and China CNR, China's two biggest train manufacturers, have boosted their business with the help of the increased investment. China CSR is filling orders for urban transit vehicles in the cities of Shenzhen, Shanghai and Chengdu, while China CNR has signed agreements concerning train manufacturing or cooperation in public transit with several cities. The increasing development of intercity railways will also benefit the rail equipment industry. The Pearl River Delta, one of China's most developed areas, will spend 118 billion yuan on intercity railways from 2012 to 2020. China CSR and China CNR have produced new trains that specifically cater to intercity railway networks. The intercity railway market is hoped to boost the slumping profits of the two companies, which have seen their income drop due to the country's suspension of bidding for bullet trains in 2010. China CSR saw its year-on-year net profits fall in the first quarter of 2013, with income from bullet train sales slumping 50 percent from a year earlier to 3 billion yuan, according to a report from UBS Securities. China CNR's quarterly report also showed weak performance, as its total sales amounted to 18.15 billion yuan, down 1.35 percent year on year. However, the gloomy trend is likely to be reversed in 2013 due to the looming resumption of bullet train bidding, the journal reported. The China Railway Corporation (CRC), newly formed in March 2013 after the breakup of the Ministry of Railways, has finished preparing for restarting the bidding, which is expected to begin in May or June. |
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| 27-May-2013 21:58 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Markets are resuming their climb this week. | ||||
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| 27-May-2013 18:01 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Wah...you really know how to enjoy...
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| 27-May-2013 16:23 |
Midas
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Midas
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The newly formed China Railway Corp issued Rmb20bn bonds last Thursday. In our view, it is a necessary move to get China’s ambitious railway plans back in gear and could potentially result in more intensive investments in the 2H13. We continue to like Midas as a major beneficiary of the investments in China railway sector. Maintain our BUY rating and target price of SGD0.75. The bond sales could help to ease the concern on the funding source for developing China’s rail system. The RMB20b bonds are just the first batch of the RMB150b bonds that China Railway is expected to issue this year. Total investment in the China rail sector YTD also lags behind the full year investment target of RMB650b due to the restructuring of the Ministry of Railways. That implies more aggressive fund raisings and investments in 2H13.
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| 27-May-2013 14:53 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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 Rest & relax....ahhhh... |
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| 27-May-2013 11:09 |
Midas
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Midas
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Train is moving again. | ||||
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| 25-May-2013 10:05 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Yes of course. Stocks don't go up in one straight line.
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