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1901-1920 of 10484
Wow... Look like the government is implementing more regulation to tighten the loop hole.
I feel it is a good news because we can expected a tighter control to prevent this from happening again.
It will be more safer to invest and a " good time" to buy this stock. There is a lot of " noise" trying to cause " fear" in investor,
look like their motive is to " short" this counter. This is a last call to investor who " dare" to buy at discounted price. If the
train did not crash we would not have the opportunities to pick up at low price. Once it rebound... people who say i would
have buy it a low price. But when the price is low people say they are scare..
It may be good to short this one @.495...
Dont worry let it chiong to 0.33 again. 0.44 may be still high after the latest news broadcast.
China railways ministry- Past vs Future: (illegal gain, more pain) vs (no pain, no gain). LOL.
will midas be involve in the upcoming railway frm sg to malaysia? anyone?
China to split rail ministry after scandals
Posted: 10 March 2013 0930 hrs
 File photo: A high-speed train leaves Beijing south railway station. (AFP Photo/Peter Parks) |
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BEIJING: China will split its scandal-plagued railways ministry in two and bring its administrative functions under the control of the transport ministry, state media said on Sunday.
The plan is to " dismantle" the ministry, the official Xinhua news agency reported, citing a report on institutional reform to be submitted to the National People's Congress parliament meeting in Beijing later.
The ministry's commercial functions will be taken over by a new China Railway Corporation, it added.
The railway system has been one of China's flagship development projects in recent years and the country now boasts the world's largest high-speed network.
But the expansion -- which has cost hundreds of billions of dollars -- has seen widespread allegations of corruption and former railways minister Liu Zhijun, who was sacked in 2011, is awaiting trial on graft charges.
In July 2011 a high-speed crash in the eastern city of Wenzhou killed at least 40 people, sparking a torrent of public criticism that authorities compromised safety in their rush to expand the network.
Investment this year is due to reach 650 billion yuan (US$105 billion), Xinhua reported in January, up 30 percent on the 2012 budget, although actual rail investment in China usually turns out higher than the planned figure.
Beijing spends heavily on infrastructure to bolster economic growth, although senior leaders regularly speak of the need to rebalance the economy.
By the end of 2012, China had 98,000 kilometres (61,000 miles) of railway in operation, the second-longest network in the world, and the globe's biggest high-speed rail network with 9,356 kilometres of lines, officials have said.
It includes the world's longest high-speed rail route, a 2,298-kilometre line between Beijing and Guangzhou that whisks passengers from the capital to the southern commercial hub in just eight hours, compared with 22 previously, which opened in December.
Very bad news for Midas actually.
" China will split its scandal-plagued railways ministry in two and bring its administrative functions under the control of the transport ministry, state media said on Sunday. The plan is to " dismantle" the ministry, the official Xinhua news agency reported, citing a report on institutional reform to be submitted to the National People's Congress parliament meeting in Beijing later. The ministry's commercial functions will be taken over by a new China Railway Corporation, it added... Investment this year is due to reach 650 billion yuan (US$105 billion), Xinhua reported in January, up 30 percent on the 2012 budget, although actual rail investment in China usually turns out higher than the planned figure..." (Quote from CNA this morning)
It is partly because of the previous scandal that Midas shares price dropped so jia lat. Now with this institutional reform, I think it should help to reduce (if not eliminate) corruption/scandal & bring stability/confidence in the ministry.... therefore will be favourable to Midas business.
well will see how is next wk.... if needed to cut loss will just cut anyway already profited from previous buy
shareflux ( Date: 09-Mar-2013 15:17) Posted:
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The numbers dont look very good and it will be challenging in the new business environment with the breaking up of the new railway department. Unless there are new project win, cant see any catalyst in the upward movement of the price. The chart tells it all. The breakdown of the price from double top neckline will take strong a catalyst to bring it up again. Mr Cheong, thanks for the informative post.
cheongsl ( Date: 09-Mar-2013 08:42) Posted:
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Date? Thanks
Blanchard ( Date: 09-Mar-2013 12:21) Posted:
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Await updates in next month AGM.
This counter is should try to avoid, if possible.
| 31/12/12 | 31/12/11 | 31/12/10 | 31/12/09 | 31/12/08 | 31/12/07 | |
| CNY(m) | CNY(m) | CNY(m) | CNY(m) | CNY(m) | CNY(m) | |
| Total Revenue | 869.51 | 1,080.74 | 1,041.98 | 754.64 | 695 | 706.37 |
| Net Income Before Taxes | 43.76 | 225.45 | 300.08 | 233.85 | 190.35 | 177.7 |
| Net Income | 27.84 | 187.36 | 243.58 | 188.87 | 164.4 | 160.56 |
| Diluted Normalized EPS | 0.02 | 0.15 | 0.24 | 0.21 | 0.18 | 0.19 |
| % Net Income Vs Revenue | 3.20% | 17.34% | 23.38% | 25.03% | 23.65% | 22.73% |
The Net Income Vs revenue have been declining, seems like the margin have being squeeze significantly after 2010.
Currently, the announcement all are about the JV being award with the contract of certain million, and not the company itself being award with the contract. And for Train, the material is usually the most costly, follow by the design cost, Testing, etc. usually the manufacturing material like aluminium and car body, they only cater for around 10~15% of the contract price, as cables, connectors, train to train jumbers, display, power system, lighting, etc...all contribute to the manufacturing cost which usually consist of 40~50% of the contract price. How much Midas can benefit from the JV awarded contract is a questionmark. There is no clear bookorder for Midas in the report also make the issue more ?? Current surge is due to all positive reporting, thus my view to this counter is still quite conservative.
Technically the double top formation, price declining below 50days MA, MACD move below 0 line, volume decline, etc. all show a more drastic downtrend of formation, the next few support is 0.435, 0.375 follow by 0.33.
The China meeting have conclude to breakup the railway department into two portion, one portion of the scope will be taken care by the transport department, the other portion will be forming a company for operating the transport. I believe the scope for transport department will be regulation, design requirement, line planning, tendering and budget, etc. Thus Midas JV might face new challenge as new relation need to be build with the transport department, and also what regulation, requirement changes might be different.
Seems like China is following Singapore old road, for Singapore that time is MRTC, which regulative and authorithy portion combine into the LTA, and the remaining convert to SMRT which become a private company to operate the MRT.
good luck!
NoMoney ( Date: 08-Mar-2013 20:25) Posted:
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true true :)
SJ-Stomp ( Date: 08-Mar-2013 20:11) Posted:
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Don't tell me everyone year of pig is very sway this year! Be positive, give yourself a positive name , every day you type it you will feel good too!
NoMoney ( Date: 08-Mar-2013 19:31) Posted:
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Hi My Big brother here, you all still try to hedge again this baby to take profit? Be careful on this it will continue drop until further announcement of new project
Do matching, hope to get 0.48 bt end up same as u all. Guess tonite dow will b super green.
Blanchard ( Date: 08-Mar-2013 18:19) Posted:
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i mean i year of pig very sway haha
SJ-Stomp ( Date: 08-Mar-2013 18:32) Posted:
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This is year of snake not year of pig!!! You must be sleeping !!!!
NoMoney ( Date: 08-Mar-2013 18:26) Posted:
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You need to change your user name too, it bring you no luck! Change to "golden hand " " long hand" is better for you !
Emptyhand ( Date: 07-Mar-2013 10:47) Posted:
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