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Midas
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richtan
Supreme |
05-Oct-2009 00:21
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richtan
Supreme |
05-Oct-2009 00:14
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From "Lim & Tan securities": We remain positive on Midas given its robust growth prospects, underpinned by its robust order books of RMB1.4bln as well as the robust prospects of its 32.5% owned subsidiary company, also underpinned by solid order books of RMB4.5bln. And this in turn reflects the government’s active efforts to support the railcar industry in China to reduce transportation bottlenecks as well as reduce transportation costs. Rail transportation is much cheaper than air travel and is much safer and causes much less pollution than automotive transportation. The company will be increasing their production capacity by 200% in the next 2 years to cope with the strong order flows. Its PE of 20x remains undemanding compared to its expected growth rate of 40-50%. |
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bennykusman
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05-Oct-2009 00:13
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thanks richtan!
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richtan
Supreme |
05-Oct-2009 00:12
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richtan
Supreme |
05-Oct-2009 00:11
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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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richtan
Supreme |
05-Oct-2009 00:08
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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 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 |
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richtan
Supreme |
05-Oct-2009 00:05
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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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risktaker
Supreme |
04-Oct-2009 23:49
Yells: "Sometimes you think you know, but in fact you dont" |
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I hope i am wrong but Zhou Yu will not let this baby move up :) 周瑜，不让midas上你能怎样。 |
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richtan
Supreme |
04-Oct-2009 23:03
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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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richtan
Supreme |
02-Oct-2009 18:29
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Hi Benny n all fellow forumers tat enjoyed reading all my post, Many thanks for all your support, it is all my pleasure to care and share just as I too had benefited a lot from other forumers tat share substances (not those tat make a lot of empty vessels noises). Imo (dyodd n BOSAYOR), the uptrend so far is still intact, just some correction, nothing to be unduly worried unless u are palying contra with no money to pick-up. Read my 4 posting on articles copied from "MarketWatch.com" in the thread u had just created: "Happy Weekend". Happy weekend reading and relax n enjoy your weekend and not be affected by those empty vessels noises.
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tedlim_me
Senior |
02-Oct-2009 18:12
Yells: "there is no equity in the equity markets" |
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you may be right since the market is irrational.. inefficient when pessimistic psychology takes over.. irrational exuberance and irrational pessimism..
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risktaker
Supreme |
02-Oct-2009 18:03
Yells: "Sometimes you think you know, but in fact you dont" |
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For now you have to throw all your TA / FA out during this correction phase. Its definitely not trending up, its only covering of shorts. BOSAYOR |
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niuyear
Supreme |
02-Oct-2009 17:02
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I love charts! Uptrend chart...
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bennykusman
Veteran |
02-Oct-2009 15:24
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RIChtan,
actually lots of ppl support u.. coz u put graph in your post.. others: please if you want to comment, give some info/graph so it doestn sound like empty vessels..
keep it up richtan!
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richtan
Supreme |
02-Oct-2009 14:42
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Hi Titan888, U are most welcome, it is my sincere pleasure to care and share with substance and not making those empty vessels noises, though my chart analysis might at times be right or wrong thus, I always mentioned dyodd n BOSAYOR n need to set stop-loss.
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Titan888
Member |
02-Oct-2009 14:38
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Dear Richtan, Thumbs up for your effort in all the regular updates and charts, you have been very kind to share all this info. Like you always mention.... ignore those noise. Cheers :) |
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richtan
Supreme |
02-Oct-2009 14:38
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Shortist, quick...quick... give me more bad ratings, the more the merrier, to strongly confirm your dreaded fear of having to cover your "shot" ass very soon. | ||||
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Bintang
Elite |
02-Oct-2009 14:32
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Hi all , pls do not just give bad rating , if u have different opinions , post your comments to share .I will give u good rating .
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richtan
Supreme |
02-Oct-2009 14:13
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Anyway, I loved to see more of their bad rating, as it confirms their dreaded fear n backfire on them.
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Hulumas
Supreme |
02-Oct-2009 13:18
Yells: "INVEST but not TRADE please!" |
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Do not buy in the first place instead of cut loss, we should do money cost averaging!
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