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if you read the announcements in midas investor relation website, you will realise that midas does not work directly with MOR, they do not bid for train contracts. Companies that bid for train contracts from the government are the ones that are under investigation. The companies that wins the contract from the goverment will then request quotes from companies like Midas that are suppliers to supply parts for the train. lets put this in simple terms.
Chicken rice uncles sells chicken rice, Midas chicken supplies chicken to chicken rice store for him to sell. Chicken rice uncle evade tax, got caught and fined. Midas chicken continues to supply chicken like any other day. Period.
Salute ( Date: 23-Mar-2011 23:06) Posted:
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China Railway/Midas: China's state auditor has disclosed that millions of dollars in funds for the construction of a high-speed railway linking Beijing & Shanghai were embezzled last year. The revelation follows last month's sacking of railways minister Liu Zhijun, who allegedly pocketed more than Rmb800m in kickbacks linked to contracts for the expansion of China's high-speed rail network while some construction companies & individuals siphoned off Rmb187m.
Other problems uncovered included improper bidding processes & the filing of fake invoices. Work on the 1,318km line costing Rmb221b started in Apr 08 & is expected to open in Jun. China has invested heavily to expand its high-speed rail network from 8,358 km as at end 2010 to 13,000 km this year.
After spending over $240m on capacity expansion over the past 3 yrs, any delays in new contract wins may not auger well for Midas & we hope the company would not be implicated in the ongoing corruption scandal.
Other problems uncovered included improper bidding processes & the filing of fake invoices. Work on the 1,318km line costing Rmb221b started in Apr 08 & is expected to open in Jun. China has invested heavily to expand its high-speed rail network from 8,358 km as at end 2010 to 13,000 km this year.
After spending over $240m on capacity expansion over the past 3 yrs, any delays in new contract wins may not auger well for Midas & we hope the company would not be implicated in the ongoing corruption scandal.
Rail roads in california,US that link west to east, were built by Chinese labours with meager wages back in 198x. some lieves were perished during those days during winters and harsh working condition.
Now the chinese are building their own railways ....... :)
why is it suddenly cleared from the huge embezzlement of govt fund for train projects
:)
Isolator ( Date: 23-Mar-2011 22:58) Posted:
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There will be some resting before going up higher... but no worry it will be just awhile... 
I hope so too.... sooner the better... :)
Isolator ( Date: 23-Mar-2011 17:12) Posted:
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Midas force will be with me.... Above 80-ct
closed at 0.745
very wise 
rotijai ( Date: 23-Mar-2011 14:53) Posted:
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Congratulation!
offloaded at 74.5, a good run and thanks isolator
hopefully ur target at 0.8 will be fulfilled.
Need shorties to make it above 80ct...
Seems shortists are coming silently...
Midas Express coming through!
all aboard!
Chooot Chooooot Chooooooooot~
next stop 1 dollar land!
Hee Hee, S$0.745 liao !!!
knightrider ( Date: 23-Mar-2011 09:27) Posted:
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i think more likely a fly trap lah!
midas chionging all the way back to1 dollarrr~~~
ruanlai ( Date: 23-Mar-2011 09:01) Posted:
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Guess will move up to > 78 cents this week closing.
Sure huh?
Am still holding.... but, not much 'big' volume buy up.
Isolator ( Date: 23-Mar-2011 09:42) Posted:
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It is unstoppable now....