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Midas

daphnecsf
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09-Jul-2009 15:03

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:) pls read this link http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:stochastic_oscillator

magdaleneng ( Date: 09-Jul-2009 14:13) Posted:

Novice in TA. Can explain what it means?

daphnecsf ( Date: 09-Jul-2009 13:21) Posted:

:)

TA as at 08 Jul 09

Stochastic Oscillator: 18.75

Williams%R: -60.87

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richtan
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09-Jul-2009 14:44

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This is my TA analysis for sharing n exchange pointers, I may be right or wrong. dyodd

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magdaleneng
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09-Jul-2009 14:13

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Novice in TA. Can explain what it means?

daphnecsf ( Date: 09-Jul-2009 13:21) Posted:

:)

TA as at 08 Jul 09

Stochastic Oscillator: 18.75

Williams%R: -60.87

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daphnecsf
Senior

09-Jul-2009 13:21

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:)

TA as at 08 Jul 09

Stochastic Oscillator: 18.75

Williams%R: -60.87

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daphnecsf
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09-Jul-2009 11:34

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:) The Business Times, July 9, 2009

A Midas touch supported by fundamentals

RAILCAR profile maker Midas Holdings has come into market focus, cheered by recent contract wins totalling a whopping one billion yuan (S$214 million). The latest contracts secured over the past two months even exceeded the management target of $200 million and $300 million worth of new contracts for high-speed train and metro train projects.

Investors tired of hearing negative news surrounding S-chips or Chinese listings here, would probably find such development at Midas a welcome relief for a sector rocked by accounting scandals.

Could Midas turn these contracts into gold for its shareholders? For investors seeking out gems in the S-chips sector, this stock may well be worth a look.

Midas is by SGX definition a Chinese listing based on its principal place of business and controlling stakeholding. Its chairman Chen Wei Ping, a Chinese national, has the single largest stakeholding of 20.7 per cent. Patrick Chew, its Singaporean CEO, owns a 14.3 per cent stake. The duo co-founded the firm in 2000.

Investors worried about credibility issues clouding S-chips may find some comfort with Midas' board composition and management. Out of five directors, three are independent directors who are Singaporeans. The two executive directors are the chairman and CEO.

Within its management, the chief financial officer who guards the group's kitty, is a Singaporean while the general managers responsible for business operations are Chinese nationals, who arguably know best about how to run a business in China.

Since 2003, Midas has been involved in many high profile rail transport projects in China, including the Beijing-Tianjin High Speed Train Project and Shanghai Metro Lines.

There isn't a better time than now for Midas to focus on its aluminium alloy business, as the Chinese government rolls out its behemoth fiscal package with major commitments to railway infrastructure.

These would set its earnings momentum going, after profit before tax grew 15.3 per cent to $40.7 million last year (net profit grew a smaller 2.4 per cent to $32.7 million due to higher taxation), and the group gathered another 11.2 per cent year-on-year growth in net profit for the first three months this year to $8.5 million.

The group expects its third production line to be ready by 2010, which will raise annual capacity by 50 per cent to 30,000 tonnes.

Mr Chew has maintained that there is no concrete plans for a fourth producton line at the moment yet, though some analysts are already expecting a further expansion as a natural course of action.

Its cash hoard, which stood at $42.7 million as of March 31, and a healthy gross gearing ratio of 14.6 per cent can lend support to that growth.

With many Chinese cities also planning to build metro lines, its 32.5 per cent associate Nanjing SR Puzhen Rail Transport Co (NPRT) is set to benefit from this high growth market where players are limited. There are only four rolling stock companies in China, including NPRT, licensed to make and sell metro trains on a nationwide basis.

But as with any investment, this stock is not devoid of risks. It is subject to increases in prices of and shortages in the supply of raw materials. Being a young company with less than a decade of operating track record, Midas is heavily dependent on certain repeat customers.

It currently faces competition from at least five key rivals in supplying aluminium alloy profiles: Shandong Conglin Group Co, Aleris Aluminium (Tianjin) Co, Southwest Aluminium Co, Shandong Nanshan Aluminium Co and Liaoning Zhongwang Group Co.

Valuation-wise, Midas is already trading at historical price-to-earnings (PE) ratio of 19 times, compared to the Straits Times Index PE ratio of 12 times. But some analysts believe that high PE is justifiable for a growing stock.

For the past two months, Midas has been riding the wave of contract wins, and with some breakthroughs. One was its first foray into the downstream fabrication business with two contracts worth 73.8 million yuan this month. The second was a beachhead into the Middle East market with two contracts worth 54 million yuan.

The pipeline of new contracts appears strong. More contracts may result from the conclusion of a second bidding by the Ministry of Railway in China this month for 320 new train sets for 350km/h high-speed train projects, according to Kim Eng analyst James Koh. Regardless of who wins the bid, this could still translate into new contracts for Midas.

If all goes well for the group, these contracts would generate good cashflows and better earnings visibility over the next two to three years.

The jury is out on whether Midas would make good on its name to turn these contracts into great fortunes for its shareholders. But for investors keen on an exposure to a booming industry in China, this S-chip may be worth a closer look.

By LYNETTE KHOO

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dcang84
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08-Jul-2009 13:05

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Infrastructure spending underpins earnings: Midas and Rotary. Maintain BUY.

Midas Holdings (Midas) and Rotary Engineering (Rotary) have both recently won infrastructural projects worth about RMB1b and US$700m respectively. The contracts will underpin earnings and serve to tide the companies through a potentially long drawn recessionary period. The flurry of recent rail-related contract wins for Midas iterates that it continues to distance itself from competition with downstream processing capabilities and clinching high speed rail projects. Rotary's US$700m SATORP project puts it on a new playing field to capture future business in oil-rich Saudi Arabia if it performs well. Contrasted with the uncertain operating environment, along with the still unthawed credit freeze, Midas' and Rotary's net cash positions, good operating cash flows and better earnings visibility in next 2-4 years provide investors a relative safe haven. We have maintained our estimates and BUYratings for both companies as these infrastructural projects will bring earnings stability. We have upped our fair value for Midas to S$0.90 (prev. S$0.85) based on 16x FY10F EPS (prev:

15x). Our fair value for Rotary remains at S$0.81. (Kelly Chia)

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knightbridge
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08-Jul-2009 08:58

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Yes. Yes. Shortist pls come in and short (Market sentimental is very weak at the moment ) good time to short midas down..

Meanwhile, just got my approval for margin to buy more midas shares.. vest at 28 cents, 30 cents 35 cents 50cents 70cents and 75cents

range.. Havnt sold any... Waiting for year end for them to deliver results..

When the start to buy a new plant in march, i am betting they are awarded many contracts.. When the annoucement made for award of many

contracts, they probably have preparation made to deliver the goods.. I probably betting they will achieve very good gross profit..

(But naked shortist got to be careful with this counter, always got sudden buy up by BB with deep pocket. Happy trading, pressure is high

shorting midas)

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ozone2002
Supreme

07-Jul-2009 19:32

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looks like the party is over..

technicals calling for a sell

let it ride out the cycle and get ready for the signals to go long again..

ozone2002 ( Date: 02-Jul-2009 22:19) Posted:

don't want to spoil the MIDAS contract win party..

but`indicators are pointing to a correction in price..MACD histogram trending down..likely to go below zero (sell call)
stochastic pointing down from overbought levels..

not a good time to enter to buy if ya a short term trader like me..

also, wish to point out that if u look at the down bars were on higher vol than the vol on the up bars for the past few days..

shows that the bulls have no power over the bears..

just my view DYODD

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alex_angkwah
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07-Jul-2009 16:01

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Better at 0.64

178investors ( Date: 07-Jul-2009 15:25) Posted:

The risk-reward is getting better now for shorting midas.

With price-newsflow indicating negative divergence looming.

Increasing my shorts at 0.80

(Potentially midas might trend lower in the coming weeks, more worthwhile to wait to collect below 0.70)

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178investors
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07-Jul-2009 15:50

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immediate support at 78.5 broken already... those sitting on profits better take profit , dont wait.

78.5 could become immediate resistance

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178investors
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07-Jul-2009 15:25

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trader88.sg
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07-Jul-2009 09:50

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This is how BBs cleverly "schedule" their news flow and then the release of analysts report with new target price.

That means more positive upgrading of price is expected.

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daphnecsf
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07-Jul-2009 09:36

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:) Cheers to all Midas holders!

We are expecting most of the broking firms are doing thier new TP calculation on the factors*** of (a) "RMB86 MILLION CONTRACTS dated 06Jul09, (b)"RMB73.8 MILLION CONTRACTS dated 01Jul'09" and (c)"RMB70 MILLION CONTRACTS dated 25Jun'09", (a),(b) & (c) three of the contracts will have positive impact on its financials from 2009 - 2011.

Timeline of Midas developments:

06/Jul/2009 ***01:01:50 PM NEWS RELEASE - MIDAS CLINCHES FOUR CONTRACTS WORTH RMB86 MILLION

01/Jul/2009 ~Maintain "BUY", TP "S$0.93", based on 15x FY10 earnings, Highlight from DBS research. "...This could lead to both revenue and margin expansion, as downstream fabrication typically has higher margins. Currently, we have not factored in any contributions from its downstreamfabrication business...".

01/Jul/2009 ***01:10:42 PM: NEWS RELEASE - MIDAS ANNOUNCES FORAY INTO DOWNSTREAM FABRICATION WITH TWO CONTRACTS WORTH RMB73.8 MILLION.

25/Jun/2009 ***06:50:57 AM: NEWS RELEASE - MIDAS SECURES A RMB70 MILLION CONTRACT FOR ANOTHER INTER-CITY HIGH-SPEED TRAIN PROJECT.

23/Jun/2009 ~Target price raised to "S$0.93", as we roll over to 15x FY10 PER, Maintain BUY, from DBSV.

22/Jun/2009 ~Maintained its "Buy" rating and raised its TP to "$1.00" from Kim Eng.

22/Jun/2009 ~Maintain "BUY" rating and fair value of "S$0.85" (Kelly Chia). Midas Holding: Wins another RMB172m in contracts, from OCBC.

22/Jun/2009 >06:40:44 AM: NEWS RELEASE - MIDAS SECURES TWO ADDITIONAL CONTRACTS WORTH RMB172 MILLION FOR INTER-CITY HIGH-SPEED TRAIN PROJECTS.

17/Jun/2009 ~Maintain "BUY" with TP of "S$0.855" under review. Midas Holdings: Secures contracts worth Rmb603m, these two contracts are expected to be earnings-accretive for 2H09 to 2011 from DMG.

16/Jun/2009 >08:07:43 PM: NEWS RELEASE - MIDAS SECURES TWO PRESTIGIOUS CONTRACTS WORTH RMB603 MILLION FOR ITS SINGLE LARGEST PROJECT ORDER TO-DATE .

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dcang84
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06-Jul-2009 21:58

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Woah, they are on a roll!!!!!! Smiley

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yipyip
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06-Jul-2009 15:17

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Great!!! Pika Pika

NEWS RELEASE Jul 06 2009 01:01:50 PM

MIDAS CLINCHES FOUR CONTRACTS WORTH RMB86 MILLION

- Beachhead into the Middle East with two new contracts worth RMB54 million
to supply 344 train cars for Saudi Arabia and Iran metro systems

- Secured another two contracts worth RMB32 million to supply 160 train cars
for the Guangzhou Line 3 Airport Line project and the Changchun Light Rail
project

As the above four contracts will be fulfilled over various periods between second half of 2009 and 2011, they will have a positive impact on the Group’s financials over these periods.

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daphnecsf
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06-Jul-2009 15:13

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Oops, this is the right link

http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_45B888DB3CBF4954482575EB001B82D0/$file/ContractsJuly2009.pdf?openelement

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daphnecsf
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06-Jul-2009 14:56

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:) Wow! Sweet!

NEWS RELEASE - MIDAS CLINCHES FOUR CONTRACTS WORTH RMB86 MILLION

http://www.sgx.com/wps/portal/marketplace/mp-en/listed_companies_info/company_all-in-one_info/!ut/p/c5/04_SB8K8xLLM9MSSzPy8xBz9CP0os3gTn1DXUFNLYwMLtwA3AyMvZ3Mf09AAA_dAI6B8JE55g2BDSnS7mxHQ7aUflZ6TnwR0pZ9Hfm6qfkFuaESlo6IiANmLKQA!/dl3/d3/L0lDU0lKSkpDZ3BSQ1NBISEvb0VvZ0FFSVFoakZFSUFBak9NNFJrb0lBSVFBIS80QzFiOVdfTnIwUkprQWxJSWlSLS83X0NHQUg0N0wwMEdJTjcwMk5URzFVUEUxTzMwL2libS5pbnYvMTA4MTM5NDQ3NTkz/#7_CGAH47L00GIN702NTG1UPE1O30

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wongmx6
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06-Jul-2009 13:40

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Hi Richtan,

It's a waste if you stopped posting. I read and enjoy your post. Just like reading post from Cheong Wee. Please return!!!!!!

I like your insight and knowledge. Pls don't stop sharing.

Regards.

richtan ( Date: 05-Jul-2009 17:16) Posted:

Hi Forumers,

After much consideration and painful decisions and thought of only quit posting when there are too many forumers doing misleading post and forumers rebuting for the sake of rebuting, I had finally made the decision to stay out of posting and join the ranks of Cheong Wee and remain a passive reader, too energy-zapping and time-wasting, much as is my passion to help newbies but I find a lacking of support from the rest of the forumers except for the handful of forumers who are willing to stand out to lend me their support and rebut, the majority are just passive readers.

I will resume my sharing, advice and TA posting only when admin removes people like newtothis n anfield_76 as it defeats my effort of posting and sharing with all this irritant in my eyes.

My last advice to all newbies is to click my nickname and read all my advice and sharing and not fall prey to all those deceptive ploys, one-liners, BBs, emotional postings, wild calls telling u tat "it will hit xxx price by today" even b4 the mkt close as if they dominate and control the mkt like Lord Buddha control Monkey God under his 5 mountains.

Bye for now and hopes to return later when the environment here is more conducive and less of all this undesirable noises and deceptive ploys like BBs and those emotional postings.

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knightbridge
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05-Jul-2009 23:49

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going against alot of savvy investors like tommie goh.. mr gay......

these people own house that is about the size of ang mo kio hypermart in orchard.. i wish you luck..

the last time you call for short rally at 70 cent now about 80... i will accumulating when market look weak...

178investors ( Date: 03-Jul-2009 10:34) Posted:

agree the party gonna over soon.. will it be today?

time to use our short guns ...bang, bang, bang.. make money again.

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richtan
Supreme

05-Jul-2009 17:16

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