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Midas Dual Listing announcement anytime soon
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seanpent
Elite |
30-Mar-2012 16:53
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from $2+ till now ... so bigger picture wise, very super oversold ? | ||
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seanpent
Elite |
30-Mar-2012 16:50
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hopefully, tomorrow onwards, this one will be on it's starting journey to become a multi-bagger | ||
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moneycow
Master |
30-Mar-2012 15:40
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Those whom followed the " BUY CALL" of this anal ysis. REALLY UP Lorry :) Fall so much. from $2 + untill 30+ cents ....
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seanpent
Elite |
30-Mar-2012 15:32
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think it's time for the next level | ||
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seanpent
Elite |
30-Mar-2012 09:36
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guess with so much accumulation, if a rally comes, it will breakout big time ... 40 cts just round the corner ... thereafter 45 - 48 ... |
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seanpent
Elite |
28-Mar-2012 08:50
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super laggard ... flat consolidation pattern for a while ..... and based formed ..... waiting to power upwards anytime soon ? |
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Hulumas
Supreme |
02-Dec-2010 17:45
Yells: "INVEST but not TRADE please!" |
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Buy now and hold for seven years. After seven years comparatively, there could be more potential counter to switch to perhaps!
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Bluevaio
Senior |
02-Dec-2010 12:42
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Hi, u mean u bought 7years ago, or u are buying now and intend to hold for 7years? If the later then why 7years? |
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Hulumas
Supreme |
02-Dec-2010 10:20
Yells: "INVEST but not TRADE please!" |
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BUY for seven years holding!
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kiasiDBT
Veteran |
01-Sep-2010 09:36
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Another analyst report .... this time from OCBC. Compelling valuations; Reiterate BUY. NPRT is expected to add a further boost to Midas' earnings growth trajectory. Its order book is estimated at RMB6b with delivery scheduled till 2013. Midas' share price has fallen by 26% over the last four months, possibly due to broad market weakness coupled with the postponement of its Hong Kong secondary listing, which in our view will not hamper its expansion plans given its strong balance sheet. Valuations are compelling at current levels with the stock trading at 16.6x FY10F PER and 11.2x FY11F PER. We are forecasting a doubling of net profit between FY09 and FY11. We reiterate our BUY rating on Midas with S$1.29 fair value estimate. Disclaimer : For investment review. Not enticement for anyone to buy or sell. Vested. |
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kiasiDBT
Veteran |
01-Sep-2010 09:34
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From CIMB: Company Update - Midas Holdings Ltd - A slew of positives Maintain Outperform on Midas. We recently visited Midas’s plant in Jilin Province, China and were impressed with its operational capabilities and facilities. All systems were functioning, with extrusion and fabrication facilities in place and new lines undergoing trials. Although there could be cost pressures in FY10 from low utilisation rates for the new facilities, we had factored these into our forecasts and are not changing our numbers. Our target price of S$1.14 is also intact, based on 15x CY11 P/E, in line with peers. We see stock catalysts from anticipated contract wins. |
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kiasiDBT
Veteran |
22-Aug-2010 23:15
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Midas Holdings rated 'buy' by DMG DMG & Partners Securities in an Aug 19 research report says: "Midas Holdings revealed 2Q10 numbers that were inline with our expectations. With the company set to boost its maximum production capacity for its Aluminium Alloy (AA) extrusion lines by 1.5 times to 50k tonnes while its downstream fabrication capacity is forecasted to increase from the current 300 trains cars to 1,000 per annum by end-2010, we therefore are maintaining our positive view on the company. "Currently priced at a 14.2x blended FY2010/2011 P/E, we believe that Midas should trade up to 19.9x blended FY2010/2011F P/E which represents a 20% discount to its peers’ average of 24.9x blended FY2010/2011F P/E. unchanged target price of $1.28. Our FY2010 and FY2011 earnings forecasts have also remained intact. MAINTAIN BUY." |
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tchoonw
Veteran |
21-Jul-2010 07:46
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NEWS RELEASE MIDAS CLINCHES TWO CONTRACTS WORTH RMB130 MILLION - Awarded by JV company NPRT to supply aluminium alloy extrusion profiles for a total of 480 train cars - First contract worth RMB58 million to supply extrusion profiles for 192 train cars to the Pearl River Delta Inter-City Train Project (Dongguan – Shenzhen Section) and Dongguan – Huizhou Inter-City Train Project - Second contract worth RMB72 million to supply extrusion profiles for 288 train cars to the Hangzhou Metro Line 1 Project Singapore, July 21, 2010 - Both contracts were awarded by Midas’ JV company Nanjing SR Puzhen Rail Transport Co., Ltd ("NPRT") ( The first contract, worth RMB58 million, is for the supply of aluminium alloy extrusion profiles for 32 train sets (1 train set = 6 train cars), or 192 train cars, for the Pearl River Delta Inter-City Train Project (Dongguan – Shenzhen Section) (Mainboard-listed Midas Holdings Limited ("Midas") (麦达斯控股有限公司) announced today that its Aluminium Alloy Division, Jilin Midas Aluminium Industries Co., Ltd ("Jilin Midas") (吉林麦达斯铝业有限公司) has secured two contracts totalling RMB130 million to supply aluminium alloy extrusion profiles for 480 train cars in aggregate. 南京南车浦镇城轨车辆有限公司). 珠江三角洲穗莞深城际轨道交通项目(莞深段)) and Dongguan – Huizhou Inter-City Train Project (东莞至惠州城际轨道交通项目). Delivery of the extrusion profiles is expected to take place from 2010 to 2011, thus having a positive impact on the Group’s financial results for the financial years ending December 31, 2010 and 2011. Page 2 of 3 Valued at RMB72 million, the second contract is for the supply of aluminium alloy extrusion profiles for 48 train sets (1 train set = 6 train cars), or 288 train cars, for the Hangzhou Metro Line 1 Project ( Mr Patrick Chew (杭州地铁一号线项目). This contract will be fulfilled from 2010 to 2012, and will have a positive impact on the Group’s financial results for the financial years ending December 31, 2010, 2011 and 2012. 周华光), CEO of Midas, said, "These two contracts are a result of NPRT’s significant project wins last year. As NPRT is one of only four rolling stock companies licensed to tender for national metro train manufacturing projects in the PRC, we have reaped benefits from our partnership with NPRT. Besides direct opportunities to secure contracts, our strategic stake in NPRT has also enabled us to leverage on the rapidly growing metro train sector in the PRC. This will serve to solidify our leading position in the rapidly growing PRC’s passenger rail transportation market." |
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kiasiDBT
Veteran |
15-Jul-2010 00:39
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Midas http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_A246A7474045098348257760002F3BF5/$file/Midas-NewsRelease-14Jul10.pdf LOI for the provision of fabrication services for 475 train cars for the prestigious “CRH1” high-speed train (380km/h) project to BST.... Jilin Midas has already won the contract for providing RMB353 million worth of aluminium extrusion profiles for a total of 1,120 train cars... In the previous announcement... http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_3EBEDB075F046DBD482576AF0011E73E/$file/Midas_NewsRelease-CRH1Contract-08Jan2010.pdf What this LOI does is to indicate intent to give Jilin Midas 475 of the 1120 train cars for fabrication... This is the direction that Midas wants to take..... From just a supplier of the specialised aluminium extrusion profiles, currently...... to fabrication of the complete train car body itself, ultimately.... This contract takes that goal one step forward....in that the contract involves the provision of welding and machining services for floor, roof and sidewalls.... The value of the contract is yet to be formalised... But is an important step, as its is indicative that BST acknowledges, trust and believes Jilin Midas has the competency & capabilities/knowhow to handle fabrication services... The capex spend & capacity for the fabrication services has already been built ... Being able to supply fabrication services is Midas hope, getting an LOI indicates there is demand for such a service.... that assemblers like BST will rather have somebody like Jilin Midas to outsource and take care of the entire train car body fabrication ... a specialised niche .... This will up the ante on wannabes like Zhongwang & others trying to gain entry into the train car biz.... who are not specialised/qualified and are more general fabricators for other parts... The best part is that this LOI is for the HST (350 km/h) High Speed Train project and denotes a certain skill level competency, and the referral will help with metro and other train projects... |
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kiasiDBT
Veteran |
12-Jul-2010 08:06
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http://www.theedgesingapore.com/investing/brokers-call/17629-phillip-securities-resumed-coverage-on-midas-holdings-with-a-buy-call.html Phillip Securities resumed coverage on Midas Holdings with a 'buy' call Written by The Edge Friday, 09 July 2010 11:25 Phillip Securities Research in a July 9 research report says: "Midas Holdings Limited was listed on 23rd February 2004 in SGX, they have 2 business divisions focusing on large-section aluminium alloy extrusion products and polyethylene pipes in China. "Besides their core businesses, Midas have a 32.5% stake in Nanjing SR Puzhen Rail Transport(NPRT) which specializes in the development, manufacturing and sale of metro trains, bogies and their related parts. Midas currently has an order book of RMB1.4 billion with most of the contracts scheduled for delivery from 2010 – 2014 while its associate, NPRT, has an order book of RMB7 billion with deliveries stretching till 2013. "Midas is currently in the progress of seeking dual listing on the Hong Kong stock exchange; they plan to issue 300 million new ordinary shares at an offer price of not more than 10% discount to the market price. Fair value estimate of S$1.16 representing a potential upside of 28.2%. BUY (resuming coverage)." |
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kiasiDBT
Veteran |
12-Jul-2010 08:05
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up | ||
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kiasiDBT
Veteran |
09-Jul-2010 09:05
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From Philips Sec: Midas Holdings – Golden years ahead BUY(Resume coverage) 12-month Target Price: S$1.16 (+28.2%) Major Shareholders % 1 Chen Wei Ping 13.56 2 Chew Haw Kwang 12.50 3 Capital group 9.56 Analyst Toh Wei Kiong �� 65 6531 5440 FAX 65 6536 4435 �� tohwk@phillip.com.sg Web: www.poems.com.sg MICA (P) 153/01/2010 Ref No: SG2010_0219 Midas Holdings Limited was listed on 23rd February 2004 in SGX, they have 2 business divisions focusing on large-section aluminium alloy extrusion products and polyethylene pipes in China. Besides their core businesses, Midas have a 32.5% stake in Nanjing SR Puzhen Rail Transport(NPRT) which specializes in the development, manufacturing and sale of metro trains, bogies and their related parts. • Riding the infrastructure boom in China China has an ambitious rail development plan aimed at increasing the national rail network through high-speed railways connecting between cities and metro lines within the cities. The government has set aside a budget of RMB825 billion for the railway sector in 2010, of which RMB700 billion will go towards infrastructure construction and the rest for rolling stock investment. Furthermore, the Ministry of Railway’s budget for the next 3 years has been finalized at no less than RMB700 billion annually, and an additional RMB300 billion will be spent on rolling stocks( train cars and signaling equipment) purchases which would sustain the earnings of the railway industry for the next few years. • Preferred supplier for the top 3 global train manufacturers Midas is the first supplier in China to be included in Alstom “Leading partners 150” program, in which Midas will be considered a preferred supplier of all of Alstom Transport’s new and resourcing projects globally. As a preferred supplier, Midas is able to receive resources and technology support from Alstom to develop new products and improve quality standards. Midas also has a master agreement with Siemens Transportation Systems Group to engage Midas as a long term high technology supplier of aluminium extrusion products on a global basis. Since 2006, Jilin Midas was certified as an approved supplier to Changchun Bombardier. All these agreements with the global train manufacturers will put them in a good stead to win projects not just in China but in the global arena as well. • Strong order book to support its earnings Midas currently has an order book of RMB1.4 billion with most of the contracts scheduled for delivery from 2010 – 2014 while its associate, NPRT, has an order book of RMB7 billion with deliveries stretching till 2013. With its dominant market position (~60% of market share) and reputation, Jilin Midas should be able to win more orders as the government ramp up their investments on railways and rolling stocks. The completion of expansion plans by Midas at the end of 2010 will tie in nicely with the expected increase in investments by the government, which will see revenue increased significantly from FY2011 onwards. • Dual listing in Hong Kong (application in progress) Midas is currently in the progress of seeking dual listing on the Hong Kong stock exchange; they plan to issue 300 million new ordinary shares at an offer price of not more than 10% discount to the market price. Assuming the offer price is S$0.905 (8th July closing price), Midas would have raised a total of S$271 million (before listing expenses), and dilute the holdings of existing shareholders by about 24%. If the dual listing in Hong Kong is successful, we will adjust our fair value to S$1.10 based on 21X FY11E earnings to factor in the dilution and interest savings from the retirement of debts. We are initiating coverage on Midas with a BUY rating and fair value estimate of S$1.16 representing a potential upside of 28.2% |
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kiasiDBT
Veteran |
25-Jun-2010 15:55
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Bagging more contracts. announced that it has clinched a RMB59m contract from CNR Changchun Railway Vehicles Co. to supply alumimium alloy extrusion profiles and fabricated parts for an inter-city highspeed train project in China. Delivery is slated for 2010. The good news comes hot on the heels of another contract win by the group's 32.5%-owned joint venture Nanjing SR Puzhen Rail Transport Co (NPRT)., which announced on 31 May 2010 that it clinched a RMB1.14b contract to supply 24 train sets for a Shanghai Metro project. NPRT has a 70% share of this contract, which we estimate will boost Midas' revenue by RMB259m over 2012 to 2013. We are keeping our earnings estimates intact as our projections allow for such contract wins. With these developments, we estimate that Midas' order book now stands at RMB1.4b with visibility extending till 2013. Midas Holdings (Midas) recentlyYuan revaluation unlikely to impact earnings. central bank over the weekend pledged to reform its renminbi (RMB) exchange rate regime in a bid to enhance its exchange rate flexibility. We do not expect the reform to have a significant impact on Midas as the group's forex exposure is naturally hedged with the bulk of its revenue and costs denominated in RMB. The group may, however, get a boost from translation gains should the RMB appreciate against the SGD, which is the group's reporting currency. China'sSecondary listing can wait. secondary listing is likely to be postponed in light of current volatile market conditions. Midas has been planning a secondary listing of its shares on the Stock Exchange of Hong Kong since late last year. In conjunction with the listing, the group was to issue 300-340m new shares at an issue price of no more than 10% discount to its SGX market price. However, recent broad market weakness has dragged the stock down by 14% over the last two months, making it more sensible for the group to hold out until market sentiment improves since it has no urgent fund-raising needs. Midas has a strong balance sheet with a marginal S$9.4m net debt position as of 1Q10. Meantime, the group's plannedMaintain BUY. earnings outlook amid global macroeconomic uncertainty. The group remains poised for more contract wins, which we believe will serve as near term catalysts for the stock. We maintain our
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kiasiDBT
Veteran |
23-Jun-2010 10:09
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Midas Holdings: Well-anchored amid global macroeconomic volatility Midas Holdings (Midas) has clinched two contracts over the last month, reaffirming its robust earnings outlook amid global macroeconomic uncertainty. The group's most recent contract win pertains to a RMB59m contract to supply aluminium alloy extrusion profiles and fabricated parts for an inter-city high-speed train project in China, and this follows shortly after its 32.5%-owned JV Nanjing SR Puzhen Rail Transport Co (NPRT) secured a RMB1.14b contract to supply train sets for a Shanghai Metro project. The group remains poised for further contract wins, which we believe will serve as catalysts for the stock. On a separate note, we do not expect the RMB's appreciation to have a significant impact on Midas as the group is naturally hedged with the bulk of its revenue and costs denominated in RMB. It may, however, get a boost from translation gains should the RMB appreciate against the SGD, its reporting currency. We continue to like Midas for its robust earnings outlook and maintain our BUY rating on the stock. Our fair value estimate remains at S$1.58. |
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WLBO_BB
Master |
21-Jun-2010 23:37
Yells: "Warren Look Before Others _ Buffett Best " |
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hi bro kingong, me still in forest hiding from my heavy losses...tot of quiting playing shares altogether... happy for u though.. good luck! me temporary taking a break.... see how... cheers!
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