Latest Forum Topics / Midas Last:0.192 -- | Post Reply |
Midas
|
|||||||||||||||
Peter_Pan
Supreme |
16-Aug-2013 10:31
Yells: "did you order dunkin' donuts" |
||||||||||||||
x 0
x 0 Alert Admin |
OIR raised its fair value estimate on Midas from S$0.54 to S$0.65. Reiterate BUY | ||||||||||||||
Useful To Me Not Useful To Me | |||||||||||||||
Peter_Pan
Supreme |
16-Aug-2013 10:29
Yells: "did you order dunkin' donuts" |
||||||||||||||
x 0
x 0 Alert Admin |
China Railway Corp., the state-owned rail operator, yesterday invited tenders for 91 bullet trains that can run at 250 kilometers an hour  |
||||||||||||||
Useful To Me Not Useful To Me | |||||||||||||||
|
|||||||||||||||
Peter_Pan
Supreme |
16-Aug-2013 09:20
Yells: "did you order dunkin' donuts" |
||||||||||||||
x 0
x 0 Alert Admin |
Midas Holdings: Rising from the ashes - BUY - TP $0.65 - OCBCS
|
||||||||||||||
Useful To Me Not Useful To Me | |||||||||||||||
samson
Veteran |
16-Aug-2013 00:01
|
||||||||||||||
x 0
x 0 Alert Admin |
China Railway Corp. Launches Open Tender of Bullet Trains
      2013-08-07 10:06:49      CRIENGLISH.com            Web Editor: Liu Yuanhui
A man poses for a photo at the entrance of the China Railway Corporation, a new state-owned enterprise, in Beijing, capital of China, March 17, 2013. The Chinese government has approved the establishment of the China Railway Corporation to perform the business functions of the defunct Ministry of Railways (MOR) as part of the country's cabinet restructuring plan. [Photo: Xinhua] China Railway Corporation announced on Tuesday that the corporation has started to purchase passenger trains and freight trains through open tender, Beijing Times reports. According to the corporation, 226 passenger trains of type 25T and 500 passenger trains of type 25G will be purchased the corporation will also purchase 28,900 freight trains. Since July, the corporation has started to invite tender for a project to purchase trains including bullet trains, passenger trains, locomotives and freight trains, and it is estimated that the total amount of money will reach about 100 billion yuan. An insider from the railway corporation said there are two reasons to purchase trains, one is to enable the disposal of some old trains, and the other is the current shortage of trains. This is the first time the China Railway Corporation has launched an open tender of trains since its establishment in March. Furthermore, this will be the first tender of bullet trains since the Wenzhou high-speed train accident on July 23rd, 2011. |
||||||||||||||
Useful To Me Not Useful To Me | |||||||||||||||
samson
Veteran |
15-Aug-2013 23:57
|
||||||||||||||
x 0
x 0 Alert Admin |
Midas Holdings: 2Q13 results above expectations Summary: Midas Holdingsâ?? 2Q13 results came in above our expectations, with revenue and PATMI soaring 29.2% and 834.1% YoY to CNY284.0m and CNY14.9m, respectively. This was due largely to a reversal of a hefty share of loss of CNY14.1m from its associated company, Nanjing SR Puzhen Rail Transport (NPRT) in 2Q12 to a share of profit of CNY3.1m in 2Q13. While we note that profit from operations actually fell 15.2% YoY to CNY35.9m, it was still ahead of our forecast. For 1H13, revenue grew 8.0% to CNY486.4m, while PATMI fell 40.8% to CNY10.0m due to a net loss in 1Q13. This constituted 53.4% and 28.6% of our FY13 projections, respectively. We are expecting 2H13 PATMI to improve significantly on a HoH basis. An interim DPS of 0.25 S cents was declared, similar to 1H12 and our forecast. We will provide more updates after the analyst conference call. For now we have a BUY rating on Midas. We will likely raise our 1.1x P/B target peg and S$0.54 fair value estimate given the improved sentiment within Chinaâ??s rail transport sector, with expectations that the high-speed train tenders may be resumed soon. (Wong Teck Ching Andy) OCBC Investment Research |
||||||||||||||
Useful To Me Not Useful To Me | |||||||||||||||
|
|||||||||||||||
Peter_Pan
Supreme |
15-Aug-2013 21:53
Yells: "did you order dunkin' donuts" |
||||||||||||||
x 0
x 0 Alert Admin |
Midas should get its fair share of the pie soon. | ||||||||||||||
Useful To Me Not Useful To Me | |||||||||||||||
Peter_Pan
Supreme |
15-Aug-2013 21:50
Yells: "did you order dunkin' donuts" |
||||||||||||||
x 0
x 0 Alert Admin |
China Railway Corp., the state-owned rail operator, today invited tenders for 91 bullet trains that can run at 250 kilometers an hour. - Bloomberg | ||||||||||||||
Useful To Me Not Useful To Me | |||||||||||||||
paul1688
Senior |
15-Aug-2013 19:56
|
||||||||||||||
x 0
x 0 Alert Admin |
From Lim and Tan
Midas performed creditably and turned around in 2Q?13 to a profit of Rmb15mln from 1Q?13?s loss of Rmb5mln and year ago?s profit of only Rmb1.6mln as the company benefitted from increased deliveries of train cars by their 32.5% owned associate company Nanjing Puzhen Rail Transport Company (associate profits turned around from loss of Rmb4mln in 1Q?13 and loss of Rmb14mln a year ago to Rmb3.1mln in 2Q?13) as well as higher sales (+29% yoy and +41% qoq to Rmb284mln) from increased delivery of their order books and higher sales of steel scrape (Rmb9.6mln against Rmb3.9mln last year and Rmb2.6mln last quarter). With Midas? own order books of Rmb400mln and Nanjing Puzhen?s order books of Rmb7.5bln coupled with the Chinese government?s plan to speed up railway investment (Rmb660bln in 2013) to kick- start GDP growth again, management remains optimistic on prospects going forward. Midas is also optimistic of securing more export orders from Russia and Singapore as these countries has mandated increased investments to boost their railway developments, no different from China. Interim dividend was maintained at 0.25 Singapore cents a share. At 1x book which is about in line with its historical average, we maintain our HOLD recommendation. |
||||||||||||||
Useful To Me Not Useful To Me | |||||||||||||||
|
|||||||||||||||
paul1688
Senior |
15-Aug-2013 19:52
|
||||||||||||||
x 0
x 0 Alert Admin |
From OCBC
Midas Holdings: 2Q13 results above expectations Summary: Midas Holdings? 2Q13 results came in above our expectations, with revenue and PATMI soaring 29.2% and 834.1% YoY to CNY284.0m and CNY14.9m, respectively. This was due largely to a reversal of a hefty share of loss of CNY14.1m from its associated company, Nanjing SR Puzhen Rail Transport (NPRT) in 2Q12 to a share of profit of CNY3.1m in 2Q13. While we note that profit from operations actually fell 15.2% YoY to CNY35.9m, it was still ahead of our forecast. For 1H13, revenue grew 8.0% to CNY486.4m, while PATMI fell 40.8% to CNY10.0m due to a net loss in 1Q13. This constituted 53.4% and 28.6% of our FY13 projections, respectively. We are expecting 2H13 PATMI to improve significantly on a HoH basis. An interim DPS of 0.25 S cents was declared, similar to 1H12 and our forecast. We will provide more updates after the analyst conference call. For now we have a BUY rating on Midas. We will likely raise our 1.1x P/B target peg and S$0.54 fair value estimate given the improved sentiment within China?s rail transport sector, with expectations that the high-speed train tenders may be resumed soon. (Wong Teck Ching Andy) |
||||||||||||||
Useful To Me Not Useful To Me | |||||||||||||||
Peter_Pan
Supreme |
15-Aug-2013 18:54
Yells: "did you order dunkin' donuts" |
||||||||||||||
x 0
x 0 Alert Admin |
They are likely raising Midas' target price.
|
||||||||||||||
Useful To Me Not Useful To Me | |||||||||||||||
Peter_Pan
Supreme |
15-Aug-2013 14:19
Yells: "did you order dunkin' donuts" |
||||||||||||||
x 0
x 0 Alert Admin |
Midas Holdings: 2Q13 results above expectations. OIR said it will likely raise its 1.1x P/B target peg and S$0.54 fair value estimate
|
||||||||||||||
Useful To Me Not Useful To Me | |||||||||||||||
Peter_Pan
Supreme |
15-Aug-2013 14:17
Yells: "did you order dunkin' donuts" |
||||||||||||||
x 0
x 0 Alert Admin |
Enjoy...
|
||||||||||||||
Useful To Me Not Useful To Me | |||||||||||||||
|
|||||||||||||||
ruanlai
Master |
15-Aug-2013 14:17
|
||||||||||||||
x 0
x 0 Alert Admin |
MIDAS S$0.515-MIDAS SP Midas performed creditably and turned around in 2Q?13 to a profit of Rmb15mln from 1Q?13?s loss of Rmb5mln and year ago?s profit of only Rmb1.6mln as the company benefitted from increased deliveries of train cars by their 32.5% owned associate company  Nanjing Puzhen Rail Transport Company  (associate profits turned around from loss of Rmb4mln in 1Q?13 and loss of Rmb14mln a year ago to Rmb3.1mln in 2Q?13) as well as higher sales (+29% yoy and +41% qoq to Rmb284mln) from increased delivery of their order books and higher sales of steel scrape (Rmb9.6mln against Rmb3.9mln last year and Rmb2.6mln last quarter). With Midas? own order books of Rmb400mln and Nanjing Puzhen?s order books of Rmb7.5bln coupled with the Chinese government?s plan to speed up railway investment (Rmb660bln in 2013) to kickstart GDP growth again, management remains optimistic on prospects going forward. Midas is also optimistic of securing more export orders from Russia and Singapore as these countries has mandated increased investments to boost their railway developments, no different from China. Interim dividend was maintained at 0.25 Singapore cents a share. At 1x book which is about in line with its historical average, we maintain our HOLD recommendation. |
||||||||||||||
Useful To Me Not Useful To Me | |||||||||||||||
ruanlai
Master |
15-Aug-2013 14:15
|
||||||||||||||
x 0
x 0 Alert Admin |
DBS Vickers (Spore): Result Snapshot: Midas Holdings, Weak earnings but focus is on timing of HSR contracts, Buy S$0.515, Price Target : 12-Month S$ 0.60   Midas Holdings, Buy S$0.515, Bloomberg: MIDAS SP Weak earnings but focus is on timing of HSR contracts Price Target : 12-Month S$ 0.60 By: Paul YONG   CFA +65 6398 7951 ?         2Q earnings of Rmb14.9m largely in line 1H13 earnings   declined 41% to Rmb10m 0.25Scts DPS declared ?         Core earnings remain weak as utilisation rate is still less than 50% but associate NPRT has turned around ?         Midas to remain profitable but the strength of its recovery will depend on how soon China?s high speed railway program restarts ?         Maintain BUY and S$0.60 TP (1.2x P/BV) Highlights Revenue climbed above Rmb280m (+29% y-o-y to RMB284m) for the first time since 2Q11, boosted by higher deliveries to the transport segment.   However, gross profit fell 8% y-o-y to Rmb63.8m due to lower utilisation (on expanded capacity) and a change in product mix. Associate Nanjing Puzhen (NPRT) turned in a positive contribution of Rmb3.1m compared to a Rmb14.1m loss in 2Q12. 1H13 earnings stand at Rmb10m (-41% y-o-y) on 8% higher revenue to Rmb486m. Gross profit for 1H13 fell 16% to Rmb115m as gross margins fell 6.9ppts to 23.6% due to lower utilisation. Our View Speed and extent of core earnings recovery will depend on award of HSR contracts. With a slightly improved order book due to contract wins from the metro, overseas and non-rail segments, we believe Midas should show better sequential earnings in the second half of the year.   However, for earnings to improve substantially, the group would still need high speed railway contracts (HSR) to be handed out. Our forecasts are maintained for now although Midas? earnings recovery could be delayed if the award of HSR contracts is pushed out. Associate NPRT showing good promise. Meanwhile, 32.5%- owned associate, Nanjing Puzhen posted a positive core earnings contribution for the first time in 6 quarters as it begins to deliver on its huge > Rmb9bn order book. Recommendation Maintain BUY, TP S$0.60. We continue to like Midas as a play on China?s resumption of its high speed railway development program as the group could potentially have 40% or more revenue exposure to the high speed railway segment. |
||||||||||||||
Useful To Me Not Useful To Me | |||||||||||||||
ruanlai
Master |
15-Aug-2013 14:12
|
||||||||||||||
x 0
x 0 Alert Admin |
|
||||||||||||||
Useful To Me Not Useful To Me | |||||||||||||||
hlfoo2010
Veteran |
15-Aug-2013 13:55
|
||||||||||||||
x 0
x 0 Alert Admin |
分 佔 一 間 聯 營 公 司 的 溢 利 / (虧 損 ) 3.1 (14.1) N.M.* (0.9) (18.7) (95.2)   Look odd to me ????? " -  X  - = + " |
||||||||||||||
Useful To Me Not Useful To Me | |||||||||||||||
SLC888
Member |
15-Aug-2013 13:36
|
||||||||||||||
x 0
x 0 Alert Admin |
 
|
||||||||||||||
Useful To Me Not Useful To Me | |||||||||||||||
Peter_Pan
Supreme |
15-Aug-2013 10:20
Yells: "did you order dunkin' donuts" |
||||||||||||||
x 0
x 0 Alert Admin |
OCBC Investment Research is likely to raise Midas' target price higher | ||||||||||||||
Useful To Me Not Useful To Me | |||||||||||||||
Peter_Pan
Supreme |
15-Aug-2013 10:14
Yells: "did you order dunkin' donuts" |
||||||||||||||
x 0
x 0 Alert Admin |
UOB Kay Hian yesterday bought at 0.525 | ||||||||||||||
Useful To Me Not Useful To Me | |||||||||||||||
Peter_Pan
Supreme |
15-Aug-2013 10:00
Yells: "did you order dunkin' donuts" |
||||||||||||||
x 0
x 0 Alert Admin |
Earnings will only get better and better. Dividends almost every quarter. All thanks to China's HSR development plans!!! | ||||||||||||||
Useful To Me Not Useful To Me |