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Last week very high vol.
Today is T + 5.
Those no money to pick up, all mati.
Bintang ( Date: 30-Sep-2009 17:47) Posted:
Although almost all mid-cap counters are having severe correction these few days , Midas is still standing firmly above all moving averages .
richtan ( Date: 30-Sep-2009 14:58) Posted:
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Aiyoyo, this Midas carrot, swinging like a pendulum, swing almost 0.03 cm near to your mouth to tempt u but now swinging away from your mouth.
Relax, dun get frustrated, tankuku, maybe still got chance if u r lucky hor. |
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European Stocks Advance, Extending Best Quarter This Decade
By Sarah Jones
Sept. 30 (Bloomberg) -- European stocks rose for a third day, extending the Dow Jones Stoxx 600 Index’s biggest quarterly rally this decade. U.S. index futures and Asian shares gained.
Infineon Technologies AG climbed 6.5 percent after Micron Technology Inc., the biggest U.S. producer of computer-memory chips, reported a smaller-than-estimated loss. Man Group Plc, the largest publicly traded hedge-fund manager, soared 6.2 percent after reporting an increase in assets under management.
The Stoxx 600 rose 0.5 percent to 244.7 as of 8:28 a.m. in London, extending the advance since the end of June to 19 percent. The quarterly increase is the biggest since 1999, while the Standard & Poor’s 500 Index’s 15 percent surge is the steepest since 1998. The gains have sent price-earnings valuations on the indexes this month to the highest levels since 2003 and 2004, respectively.
The market is “certainly pricing in quite a lot of recovery,” said David Crawford, a fund manager at Octopus Investments Ltd. in London. “We haven’t quite hit the buffers, but we don’t see certainly so much upside” as we have seen since March, he told Bloomberg Television.
Futures on the S&P 500 added 0.3 percent before data on gross domestic product, employment and business activity that may show the worst U.S. recession since the Great Depression eased and the economy is probably now in the early stages of recovery.
Asian Stocks, IMF
The MSCI Asia Pacific Index climbed 0.8 percent today, led by automakers and technology companies, after NGK Insulators Ltd. raised its profit forecast and Micron posted a narrower loss.
The International Monetary Fund today cut its projection for global writedowns on loans and investments by 15 percent to $3.4 trillion, citing improvements in credit markets and initial signs of economic growth. Germany’s Handelsblatt newspaper reported that the IMF has raised its global economic growth forecast for next year to 3.1 percent from 2.5 percent.
Separate data from GfK NOP showed U.K. consumer confidence jumped in September by the most since 1995.
Infineon Technologies, Europe’s second-largest maker of semiconductors, climbed 6.5 percent to 3.91 euros. Micron posted a fourth-quarter loss of $88 million, or 10 cents a share, after an industry glut eased and product prices rebounded. Analysts had estimated a loss of 19 cents, according to a Bloomberg survey.
Separately, Exane BNP Paribas upgraded Infineon to “outperform” from “neutral,” citing “evidence of cash generation.”
Man Group, Smiths
Man Group advanced 6.2 percent to 327.3 pence. Funds under management rose to $43.8 billion in the fiscal second quarter from $43.3 billion at the end of June. Investors had expected $43.5 billion, according to three analysts surveyed by Bloomberg.
Smiths Group Plc rallied 7.3 percent to 899 pence after the world’s biggest maker of airport scanners raised its savings target to at least 70 million pounds ($113 million) and reporting pretax profit before one-time items of 371 million pounds. The company also extended a revamp program to its detection-gear division.
Marks & Spencer Group Plc slipped 1.6 percent to 368.7 pence after the U.K.’s largest clothing retailer reported a decline in same-store revenue. Sales at U.K. stores open at least a year fell 0.5 percent in the 13 weeks ended Sept. 26.
Europe’s Stoxx 600 has added 3.7 percent in September, heading for a third straight monthly advance. The S&P 500 has gained 3.9 percent, leaving it poised for a seventh consecutive monthly increase, the longest streak since January 2007. Japan’s Topix index and the Nikkei 225 Stock Average are this month’s worst performers among 88 indexes tracked by Bloomberg, amid uncertainties over policies from the nation’s new government.
To contact the reporter on this story: Sarah Jones in London at sjones35@bloomberg.net. Last Updated: September 30, 2009 03:30 EDT
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Asia Stocks Rise for Seventh Month on Economic Growth Optimism
By Shani Raja
Sept. 30 (Bloomberg) -- Asian stocks rose, lifting the MSCI Asia Pacific Index to its seventh monthly advance, after China’s central bank said it will retain a “moderately loose” monetary policy and NGK Insulators Ltd. increased its profit forecast.
Poly Real Estate Group Co. rose 3.8 percent after the People’s Bank of China said stimulus measures to boost domestic demand will continue. NGK Insulators surged 8.6 percent in Tokyo after citing growing demand for products related to cars and electronics for its higher forecast. Billabong International Ltd., Australia’s biggest surfwear maker, climbed 4 percent on a better-than-estimated retail sales report.
The MSCI Asia Pacific Index added 0.7 percent to 117.62 as of 3:32 p.m. in Tokyo. The gauge is set for its second-straight quarterly advance, having climbed 14 percent in the past three months as economies around the world emerged from recession.
“The recovery is moving from being supported by governments and central banks to being a bit more self- sustained,” said Nader Naeimi, a Sydney-based strategist at AMP Capital Investors, which manages about $75 billion. “Across Asia we’re seeing strong private demand as well as a strong pick-up in actual measures of economic activity.”
The Shanghai Composite Index climbed 0.9 percent in China, where markets are closed from tomorrow for a week-long holiday. The country’s central bank said it will maintain its moderately loose monetary policy to sustain an economic recovery.
Taiwan’s Taiex Index rose 1.1 percent, while Japan’s Topix Index added 0.7 percent. The Bank of Japan may decide as soon as next month to let its emergency corporate-debt buying programs expire as businesses regain access to private funding, people with knowledge of the discussions said.
U.S. Home Prices
Hong Kong’s Hang Seng Index fell 0.7 percent. China South City Holdings Ltd., a developer and operator of logistics and trade centers, plunged 26 percent, becoming the fourth company in a week to decline on its first day of trading in the city.
In Seoul, Korea Gas Corp. tumbled 11 percent in Seoul on share-sale plans, while Hyundai Heavy Industries Co., the world’s largest shipyard, tumbled 9.6 percent on concern French shipping line CMA CGM SA may cancel orders.
Futures on the U.S. Standard & Poor’s 500 Index added 0.1 percent. The gauge fluctuated between gains and losses yesterday before finishing down 0.2 percent. The S&P/Case-Shiller home- price index climbed 1.2 percent in July from the previous month, the most since October 2005, according to an S&P report.
In Tokyo, NGK Insulators surged 8.6 percent to 2,075 yen after boosting its profit forecast for the year ending March 31, 2010, by 14 percent to 12.5 billion yen ($139 million).
Worst Performers
The MSCI Asia Pacific Index has added 3.5 percent in September, set for a seventh monthly advance, its longest stretch of gains since the 10 months ended July 2007. Japan’s Topix index and the Nikkei 225 are the worst performers this month among 88 global equity indexes tracked by Bloomberg, amid uncertainties over policies from the nation’s new government.
In Shanghai, Poly Real Estate gained 3.8 percent to 24.25 yuan. China Vanke Co., the nation’s biggest listed property developer, added 1 percent to 10.44 yuan.
The People’s Bank of China said yesterday after its quarterly monetary policy meeting it will guide reasonable loan growth, adding that the economic rebound isn’t solid. Chinese manufacturing expanded for a sixth month in September on stimulus spending and record bank lending, an index from HSBC Holdings Plc showed.
Holiday Buying
“Some investors are buying stocks ahead of the holidays and betting strong economic data will be released after that,” said Chen Shide, a Guangzhou-based fund manager at GF Fund Management Co., which oversees about $11.4 billion. “The September figures will be good and there’s a strong possibility of making positive returns from equities in the short term.”
The climb in equities in the past seven months has been fueled by better-than-estimated economic and earnings reports. Australian retail sales climbed 0.9 percent in August, the first gain in three months, the country’s statistics bureau reported today. The median forecast of economists surveyed by Bloomberg News was for a 0.5 percent gain.
Billabong climbed 4 percent to A$12 in Sydney, while David Jones Ltd., Australia’s second-biggest department store, rose 1.9 percent to A$5.84.
Goodman Group, a real-estate trust, surged 9 percent to 66.5 Australian cents, after the retail data spurred speculation that an economic recovery is underway and will bolster the property market. Mirvac Group advanced 6.3 percent to A$1.68.
Rising Valuations
The MSCI index’s gain in the past three months is lower than the second quarter’s 28 percent as concerns emerged the stock rally may have overvalued company earnings prospects. The average price of the gauge’s shares rose to 1.6 times book value on Sept. 17, up from 1 at the measure’s five-year low on March 9.
China South City sank 26 percent to HK$1.56 in its debut amid concern demand for share sales in Hong Kong may be waning. Peak Sport Products Co., China Lilang Ltd. and Metallurgical Corporation of China Ltd. also fell on their first day of trading in the past week.
Wilmar International Ltd., the world’s biggest palm-oil trader, is delaying the Hong Kong share sale of its China unit until stock markets stabilize, FinanceAsia said on its Web site. Wilmar, which said it hasn’t decided on the timing of the sale, lost 3.7 percent to S$6.27 in Singapore.
Korea Gas, the world’s largest buyer of liquefied natural gas, slumped 11 percent to 53,300 won in Seoul after announcing plans to double its capital by selling new shares.
Technology Stocks Rise
Hyundai Heavy Industries fell 9.6 percent to 180,000 won. CMA CGM, the world’s third-largest container line, yesterday announced talks with creditors as it battles to avoid collapse amid plunging demand and rising overcapacity. The company may also try to cancel new ships, the Financial Times said today.
Technology companies accounted for 20 percent of the MSCI Asia Pacific Index’s gain today after Micron Technology Inc. reported a narrower loss, boosting optimism a glut in the memory-chip industry is easing.
Hynix Semiconductor Inc. gained 1.3 percent to 19,800 won. Taiwan Semiconductor Manufacturing Co., the world’s largest maker of customized chips, gained 1.3 percent to NT$64.50.
Bankruptcies and factory shutdowns have helped the memory industry pare an oversupply of chips, pushing up prices closer to the cost of production. Micron makes dynamic random access memory, or DRAM, for personal computers, as well as Nand flash chips, which store information.
In Kuala Lumpur, Hai-O Enterprise Bhd., a Malaysian seller of Chinese wines, herbs and medicines, rose 4.9 percent to a record 5.97 ringgit after first-quarter profit climbed 36 percent. OSK Research Sdn. upgraded the stock to “buy” from “neutral.”
To contact the reporter on this story: Shani Raja in Sydney at sraja4@bloomberg.net. Last Updated: September 30, 2009 02:35 EDT
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Aiyoyo, this Midas carrot, swinging like a pendulum, swing almost 0.03 cm near to your mouth to tempt u but now swinging away from your mouth.
Relax, dun get frustrated, tankuku, maybe still got chance if u r lucky hor.
richtan ( Date: 30-Sep-2009 14:13) Posted:
 Good luck to u, but may probably be like dangling a carrot on a pole tied to your neck, tempting u but out of reach, makes u salivating, gian gain. lau how soi.
Richman ( Date: 30-Sep-2009 14:07) Posted:
My target price of 0.82 cents is on the way... |
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Good luck to u, but may probably be like dangling a carrot on a pole tied to your neck, tempting u but out of reach, makes u salivating, gian gain. lau how soi.
Richman ( Date: 30-Sep-2009 14:07) Posted:
My target price of 0.82 cents is on the way...
Richman ( Date: 29-Sep-2009 12:02) Posted:
No regret selling off my holding in this counter. Switch my fund to parkway yesterday - 30 lot Today profit already more than 2k
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Cutie cows, one waiting for Zhu ge Liang n the other waiting for Zhou ye to mlik them
niuyear ( Date: 30-Sep-2009 10:36) Posted:
hahaha ! look at this -
Why Naked Shorting Isn't Really That Different From Regular Short Selling: The Two Cows Version
 Still confused about why you shouldn't be worked up over naked short selling? We understand. It's terribly complex and full of words that make your eyes glaze over.
So we decided to break it down into the simplest terms Wall Street transactions can be explained: the two cows story.
This is a simplification, since it leaves out the role of a clearing house. But that's the point: to simplify a very complicated process.
Traditional Short Selling: Two Cows
You neighbor Joe has two cows. You borrow the cows.
You sell two cows your other neighbor Henry.
Henry agrees to pay you $100 for each cow.
At this point, you are net short two cows. You have the two you borrowed from Joe but you owe a total of four: two to Henry and two to Joe.
You go out into the market and look for more cows so you can give Joe his two cows back.
You hope the price is less than $100 per cow. If the price of cows drops to $80, you just made $20 on each cow. If it climbs to $120, you lost the same amount on each cow.
Either way you close out the trade by delivering cows to Henry, collecting the money for delivery, and buying Joe the replacement cows.
Naked Short Selling: Two Cows
Your neighbor Joe has two cows. You don’t borrow them.
You sell two cows to your neighbor Henry with a promise to deliver them in a few days.
Henry agrees to pay you $100 for each cow.
At this point, you are net short two cows. You don't have any cows but you owe a total of two: both of them to Henry.
You go out into the market and look for more cows so you can deliver two cows to Henry.
You hope the price is less than $100 per cow.
If the price of cows drops to $80, you just made $20 on each cow. If it climbs to $120, you lost the same amount on each cow.
You close out the trade by delivering cows to Henry and collecting the money for delivery.
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He is going back to China to be a milkman, moo....moo...moo...
niuyear ( Date: 30-Sep-2009 11:40) Posted:
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Ristaker
Why Zhu ge liang out of market? Tell him here got some cows waiting for him to milk milk ..........hahahah! mo....mo..........
niuyear ( Date: 30-Sep-2009 10:36) Posted:
hahaha ! look at this -
Why Naked Shorting Isn't Really That Different From Regular Short Selling: The Two Cows Version
Still confused about why you shouldn't be worked up over naked short selling? We understand. It's terribly complex and full of words that make your eyes glaze over.
So we decided to break it down into the simplest terms Wall Street transactions can be explained: the two cows story.
This is a simplification, since it leaves out the role of a clearing house. But that's the point: to simplify a very complicated process.
Traditional Short Selling: Two Cows
You neighbor Joe has two cows. You borrow the cows.
You sell two cows your other neighbor Henry.
Henry agrees to pay you $100 for each cow.
At this point, you are net short two cows. You have the two you borrowed from Joe but you owe a total of four: two to Henry and two to Joe.
You go out into the market and look for more cows so you can give Joe his two cows back.
You hope the price is less than $100 per cow. If the price of cows drops to $80, you just made $20 on each cow. If it climbs to $120, you lost the same amount on each cow.
Either way you close out the trade by delivering cows to Henry, collecting the money for delivery, and buying Joe the replacement cows.
Naked Short Selling: Two Cows
Your neighbor Joe has two cows. You don’t borrow them.
You sell two cows to your neighbor Henry with a promise to deliver them in a few days.
Henry agrees to pay you $100 for each cow.
At this point, you are net short two cows. You don't have any cows but you owe a total of two: both of them to Henry.
You go out into the market and look for more cows so you can deliver two cows to Henry.
You hope the price is less than $100 per cow.
If the price of cows drops to $80, you just made $20 on each cow. If it climbs to $120, you lost the same amount on each cow.
You close out the trade by delivering cows to Henry and collecting the money for delivery.
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The below report posted by ozon22002 is from CIMB, also extracted from their pdf report:
Expected to secure A$125m orders from Gorgon in the next six months.
Over the next 18 months, management plans to submit A$1bn of bids for the Gorgon
project.
Some A$60m has already been submitted and another A$420m will be
submitted by end-2009.
The bids are for fabrication work for the upstream phase (preassembled
pipe racks, modules, subsea manifolds and spools).
We expect the group to secure A$125m of contracts from the project by 1Q10.
To date, the Gorgon project has awarded A$2bn worth of projects to sub-contractors for infrastructure and logistics work and is expected to award another A$10bn in the coming three months.
We anticipate further order wins from the Gorgon project for AusGroup from 2H10
when contracts for subsea/LNG plant work are announced.
On the lookout for acquisitions.
With a strong cash position, we expect management to announce acquisitions in the near term. Potential acquisitions would be similar to MAS: providing similar businesses, enhancing AusGroup’s footprint in East Australia/South-East Asia and achieving the required rate of returns.
ozone2002 ( Date: 30-Sep-2009 11:18) Posted:
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Ausgroup Ltd (S$0.73) - Right place, right time
We initiate coverage on AusGroup with a target price of S$1.08, based on 13x
CY11 P/E, in line with its historical average since listing. We see share-price
catalysts from order wins from a series of LNG and mineral projects in Australia.
Among its SGX-listed peers, AusGroup has purer exposure to the Australian LNG
sector, thanks to its wider ambit of services and operations in Australia. The group
is bidding for A$2bn worth of orders in LNG and mineral resource projects over
the next 12 months and we estimate its order book could grow by 25% to A$500m
by Jun 10. We see a buying opportunity as AusGroup is trading below its
historical valuations. |
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I m just posting facts, FA n TA n broking house reports to share with fellow forumers, not making wild calls, there is no use try talking up the mkt, it is too big, try talking up in a forum is futile.
nickyng ( Date: 30-Sep-2009 10:56) Posted:
wah! TALKING up your counter again? hee...gd luck! :D
richtan ( Date: 30-Sep-2009 10:54) Posted:
Patience, faith in the FA n TA does have its virtues n ignore all those daily distracting noises of "BB this n BB tat" n those irritating "1 lotter stupid game while the bull is dozing, all these mice comes out to play while the cat is away, I m sure all these mice will go into hiding tomoro liow".
I had been posting almost everyday the below writeup from Kim Eng:
Midas – Company update (James KOH 64321431)
Previous day closing price: $0.865
Recommendation: Buy (maintained)
Target price: $1.15 (Previously $0.985)
Still packing the theatre
We recently hosted a roadshow for Midas in the US, which was very well-received by funds.
The exciting growth prospects within the China rail infrastructure space continue to capture the
imagination, with the main discussion points being the competition within this space, the sustainability of growth for Midas and the progression on expansion.
A smaller share of the bigger pie
While Midas still holds a clear lead in terms of certification and track record,
management expects competition to intensify, with listed peers such as Shandong Nanshan (Shanghai) and Zhongwang (HK) stating their intentions to break into this market.
Going forward, they believe achieving a lower 50-60% market share of this growing pie would be a more reasonable target, which will still ensure strong growth.
Life after trains
Improving the rail infrastructure network is an important government initiative, with current directives providing clear visibility over the next 2-3 years. Even subsequent to the stimulus package, we expect this program to continue.
Over the longer term, management will look into other feasible, promising industries such as aviation to continue its growth.
Progress on the installation of 4th and 5th extrusion lines
We now expect the 4th and 5th extrusion lines to come on stream by 2Q09 and 4Q09, earlier than our earlier estimates.
Our model factors in Midas winning a 50%-60% market share of the upcoming round of orders, which is twice the size of the first round. This will already keep all its five extrusion lines busy at about 75% utilisation.
Much more tracks to run
We adjust our earnings to take into account higher effective capacity in FY10 and higher tax rates in FY11.
We now peg our target price to 20X FY10E.
We believe the Chinese rail industry is still at its early-mid cycle.
With the Ministry of Railway due to announce the 2nd round of high-speed train orders, we expect orders to flow down to Midas within 3-4 monthsience, faith in the FA n TA does have its virtues n ignore all those daily distracting noises of "BB this n BB tat" n those irritating "1 lotter stupid game while the bull is dozing, all these mice comes out to play while the cat is away, I m sure all these mice will go into hiding tomoro liow".
I had been posting almost everyday the below writeup from Kim Eng:
Midas – Company update (James KOH 64321431)
Previous day closing price: $0.865
Recommendation: Buy (maintained)
Target price: $1.15 (Previously $0.985)
Still packing the theatre
We recently hosted a roadshow for Midas in the US, which was very well-received by funds.
The exciting growth prospects within the China rail infrastructure space continue to capture the
imagination, with the main discussion points being the competition within this space, the sustainability of growth for Midas and the progression on expansion.
A smaller share of the bigger pie
While Midas still holds a clear lead in terms of certification and track record,
management expects competition to intensify, with listed peers such as Shandong Nanshan (Shanghai) and Zhongwang (HK) stating their intentions to break into this market.
Going forward, they believe achieving a lower 50-60% market share of this growing pie would be a more reasonable target, which will still ensure strong growth.
Life after trains
Improving the rail infrastructure network is an important government initiative, with current directives providing clear visibility over the next 2-3 years. Even subsequent to the stimulus package, we expect this program to continue.
Over the longer term, management will look into other feasible, promising industries such as aviation to continue its growth.
Progress on the installation of 4th and 5th extrusion lines
We now expect the 4th and 5th extrusion lines to come on stream by 2Q09 and 4Q09, earlier than our earlier estimates.
Our model factors in Midas winning a 50%-60% market share of the upcoming round of orders, which is twice the size of the first round. This will already keep all its five extrusion lines busy at about 75% utilisation.
Much more tracks to run
We adjust our earnings to take into account higher effective capacity in FY10 and higher tax rates in FY11.
We now peg our target price to 20X FY10E.
We believe the Chinese rail industry is still at its early-mid cycle.
With the Ministry of Railway due to announce the 2nd round of high-speed train orders, we expect orders to flow down to Midas within 3-4 months your counter again? hee...gd luck! :D
richtan ( Date: 30-Sep-2009 10:54) Posted:
Patience, faith in the FA n TA does have its virtues n ignore all those daily distracting noises of "BB this n BB tat" n those irritating "1 lotter stupid game while the bull is dozing, all these mice comes out to play while the cat is away, I m sure all these mice will go into hiding tomoro liow".
I had been posting almost everyday the below writeup from Kim Eng:
Midas – Company update (James KOH 64321431)
Previous day closing price: $0.865
Recommendation: Buy (maintained)
Target price: $1.15 (Previously $0.985)
Still packing the theatre
We recently hosted a roadshow for Midas in the US, which was very well-received by funds.
The exciting growth prospects within the China rail infrastructure space continue to capture the
imagination, with the main discussion points being the competition within this space, the sustainability of growth for Midas and the progression on expansion.
A smaller share of the bigger pie
While Midas still holds a clear lead in terms of certification and track record,
management expects competition to intensify, with listed peers such as Shandong Nanshan (Shanghai) and Zhongwang (HK) stating their intentions to break into this market.
Going forward, they believe achieving a lower 50-60% market share of this growing pie would be a more reasonable target, which will still ensure strong growth.
Life after trains
Improving the rail infrastructure network is an important government initiative, with current directives providing clear visibility over the next 2-3 years. Even subsequent to the stimulus package, we expect this program to continue.
Over the longer term, management will look into other feasible, promising industries such as aviation to continue its growth.
Progress on the installation of 4th and 5th extrusion lines
We now expect the 4th and 5th extrusion lines to come on stream by 2Q09 and 4Q09, earlier than our earlier estimates.
Our model factors in Midas winning a 50%-60% market share of the upcoming round of orders, which is twice the size of the first round. This will already keep all its five extrusion lines busy at about 75% utilisation.
Much more tracks to run
We adjust our earnings to take into account higher effective capacity in FY10 and higher tax rates in FY11.
We now peg our target price to 20X FY10E.
We believe the Chinese rail industry is still at its early-mid cycle.
With the Ministry of Railway due to announce the 2nd round of high-speed train orders, we expect orders to flow down to Midas within 3-4 monthsience, faith in the FA n TA does have its virtues n ignore all those daily distracting noises of "BB this n BB tat" n those irritating "1 lotter stupid game while the bull is dozing, all these mice comes out to play while the cat is away, I m sure all these mice will go into hiding tomoro liow".
I had been posting almost everyday the below writeup from Kim Eng:
Midas – Company update (James KOH 64321431)
Previous day closing price: $0.865
Recommendation: Buy (maintained)
Target price: $1.15 (Previously $0.985)
Still packing the theatre
We recently hosted a roadshow for Midas in the US, which was very well-received by funds.
The exciting growth prospects within the China rail infrastructure space continue to capture the
imagination, with the main discussion points being the competition within this space, the sustainability of growth for Midas and the progression on expansion.
A smaller share of the bigger pie
While Midas still holds a clear lead in terms of certification and track record,
management expects competition to intensify, with listed peers such as Shandong Nanshan (Shanghai) and Zhongwang (HK) stating their intentions to break into this market.
Going forward, they believe achieving a lower 50-60% market share of this growing pie would be a more reasonable target, which will still ensure strong growth.
Life after trains
Improving the rail infrastructure network is an important government initiative, with current directives providing clear visibility over the next 2-3 years. Even subsequent to the stimulus package, we expect this program to continue.
Over the longer term, management will look into other feasible, promising industries such as aviation to continue its growth.
Progress on the installation of 4th and 5th extrusion lines
We now expect the 4th and 5th extrusion lines to come on stream by 2Q09 and 4Q09, earlier than our earlier estimates.
Our model factors in Midas winning a 50%-60% market share of the upcoming round of orders, which is twice the size of the first round. This will already keep all its five extrusion lines busy at about 75% utilisation.
Much more tracks to run
We adjust our earnings to take into account higher effective capacity in FY10 and higher tax rates in FY11.
We now peg our target price to 20X FY10E.
We believe the Chinese rail industry is still at its early-mid cycle.
With the Ministry of Railway due to announce the 2nd round of high-speed train orders, we expect orders to flow down to Midas within 3-4 months
richtan ( Date: 28-Sep-2009 19:25) Posted:
I had been posting almost everyday the below writeup from OCBC Investment Research:
Midas's firm order book of 1.4 billion yuan (S$296 million), more anticipated contract wins in Sept - Nov 2009... will serve to under-gird valuations"
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Patience, faith in the FA n TA does have its virtues n ignore all those daily distracting noises of "BB this n BB tat" n those irritating "1 lotter stupid game while the bull is dozing, all these mice comes out to play while the cat is away, I m sure all these mice will go into hiding tomoro liow".
I had been posting almost everyday the below writeup from Kim Eng:
Midas – Company update (James KOH 64321431)
Previous day closing price: $0.865
Recommendation: Buy (maintained)
Target price: $1.15 (Previously $0.985)
Still packing the theatre
We recently hosted a roadshow for Midas in the US, which was very well-received by funds.
The exciting growth prospects within the China rail infrastructure space continue to capture the
imagination, with the main discussion points being the competition within this space, the sustainability of growth for Midas and the progression on expansion.
A smaller share of the bigger pie
While Midas still holds a clear lead in terms of certification and track record,
management expects competition to intensify, with listed peers such as Shandong Nanshan (Shanghai) and Zhongwang (HK) stating their intentions to break into this market.
Going forward, they believe achieving a lower 50-60% market share of this growing pie would be a more reasonable target, which will still ensure strong growth.
Life after trains
Improving the rail infrastructure network is an important government initiative, with current directives providing clear visibility over the next 2-3 years. Even subsequent to the stimulus package, we expect this program to continue.
Over the longer term, management will look into other feasible, promising industries such as aviation to continue its growth.
Progress on the installation of 4th and 5th extrusion lines
We now expect the 4th and 5th extrusion lines to come on stream by 2Q09 and 4Q09, earlier than our earlier estimates.
Our model factors in Midas winning a 50%-60% market share of the upcoming round of orders, which is twice the size of the first round. This will already keep all its five extrusion lines busy at about 75% utilisation.
Much more tracks to run
We adjust our earnings to take into account higher effective capacity in FY10 and higher tax rates in FY11.
We now peg our target price to 20X FY10E.
We believe the Chinese rail industry is still at its early-mid cycle.
With the Ministry of Railway due to announce the 2nd round of high-speed train orders, we expect orders to flow down to Midas within 3-4 months
richtan ( Date: 28-Sep-2009 19:25) Posted:
I had been posting almost everyday the below writeup from OCBC Investment Research:
Midas's firm order book of 1.4 billion yuan (S$296 million), more anticipated contract wins in Sept - Nov 2009... will serve to under-gird valuations"
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PM Wen has last week announced that there will be an accelerated development to double the railway networks of 6 provinces in Central China
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Below is my long-term chart analysis for sharing and exchange pointers.
My TA chart is posted to share n exchange pointers with those TA practitioner whom believes in TA.
If u are a TA detractor, plse just ignore n refrain from peeping at my chart posting n start making unconstructive comments and plse do not be so childish or lunatic as to abuse the rating system by intentionally rating it as "bad post", this is not cursing but Buddhism beliefs tat intentional bad deeds will accumulate for yourself and possibly your next generation, "bad" karma for your "bad" deeds.
If u think it is a bad post, then be constructive and kindly post your TA for sharing. This is only my view n I may be right or wrong, so dyodd and SOBAYOR.
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Below is my chart analysis for sharing and exchange pointers.
My TA chart is posted to share n exchange pointers with those TA practitioner whom believes in TA.
If u are a TA detractor, plse just ignore n refrain from peeping at my chart posting n start making unconstructive comments and plse do not be so childish or lunatic as to abuse the rating system by intentionally rating it as "bad post", this is not cursing but Buddhism beliefs tat intentional bad deeds will accumulate for yourself and possibly your next generation, "bad" karma for your "bad" deeds.
If u think it is a bad post, then be constructive and kindly post your TA for sharing. This is only my view n I may be right or wrong, so dyodd and SOBAYOR.
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risktaker ( Date: 30-Sep-2009 10:32) Posted:
zhuge liang is not in the market ... hes withdrawing from market atm :) Zhou Yu too i guess unless he has other plans. Zhou Yu is a BB controlling GoldenAgr, Midas and others stock
niuyear ( Date: 30-Sep-2009 10:24) Posted:
| So let me think, is Zhou Yu a Clam and Zhu ge liang a Snipe? We need living things like them to help fishermen rip the rewards. Cheers |
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From OCBC Investment Research:
Midas Holdings Ltd:
Midas' JV wins RMB1.76b contract
Midas Holdings (Midas) announced that its 32.5% owned JV, Nanjing Puzhen Rail Transport (NPRT), clinched a contract worth RMB1.76b to supply 288 train cars to the Hangzhou Metro.
The cars will be delivered from 2011 to 2013.
NPRT's likelihood of winning contracts was highlighted in our previous reports.
While it will not affect Midas' financials in the near future, we conservatively estimate that this contract can attribute up to RMB25-30m in bottomline impact from 2011-2013.
We are awaiting the impending announcements of China's Ministry of Railway tender awards in the next 2-3 months where Midas is expected to add to the healthy backlog of RMB1.4b (to last till 2011).
We think that the positive news flow will be a share price catalyst.
Maintain BUY at fair value estimate of S$1.05. (KellyChia)
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Ooops, the BBs tat I m referring to are the local smallish mice lah, easily drown by the gigantic foreign consortium, how to fight, can come out to play only when the cat is away lah.
richtan ( Date: 30-Sep-2009 10:14) Posted:
Aiyah, when the big tide comes in, all these BBs will be drown lah.
risktaker ( Date: 30-Sep-2009 10:10) Posted:
| if you think BB is bullshit lol good luc |
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Aiyah, when the big tide comes in, all these BBs will be drown lah.
risktaker ( Date: 30-Sep-2009 10:10) Posted:
if you think BB is bullshit lol good luck
icecool ( Date: 30-Sep-2009 10:06) Posted:
| Tat one tat makes the most noises lah about all tat BBs (Big Bull Shit |
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All tat push-down are just scare tactics to accumulate more at lower prices for the big push-up later when the greed tactics subsequently begins, dun fall prey to them.
keepnosecrets ( Date: 30-Sep-2009 10:01) Posted:
So you also agree the chart says Midas is trend up in the longer term? Actually Midas is ok, management quite considerate of shareholders' interests, tat's why dual listings. And I remembered every 3 months it gives dividends. Don't has it changed, I don't really research on this counter.. just play play only. Holding only 20 lots ard 87.5 cents, and will ride it out and see how the dual listings impact the price.
risktaker ( Date: 30-Sep-2009 09:51) Posted:
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u guys still dont understand how the game is being played.... despite me giving out hints. But your long term chart for midas is right so stick to your plan.
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The mice coming out to play while the cat is away
risktaker ( Date: 30-Sep-2009 09:41) Posted:
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boy why is it dropping zhou yu ...
icecool ( Date: 30-Sep-2009 09:26) Posted:
| Empty vessels make the most noises. |
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