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MIDAS AWARDED TWO INTERNATIONAL CONTRACTS IN NEW GEOGRAPHICAL MARKETS
- Makes foray into Malaysia’s railway market with a RMB71.0 million contract to supply 228 train cars for the Malaysia Intercity Urban Rail Project
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Transit Project in Turkey
Not sure if this good news will over shadow the bad sentiment on the investigaton bit?
something very wrong with midas, as it announced more contracts but price kept diving
better to keep clear of this one... raffles edu in the making?
NEWS RELEASE
MIDAS AWARDED TWO INTERNATIONAL CONTRACTS IN NEW
GEOGRAPHICAL MARKETS
- Makes foray into Malaysia’s railway market with a RMB71.0 million contract to
supply 228 train cars for the Malaysia Intercity Urban Rail Project
- Wins RMB12.5 million contract to supply 32 train cars for the Izmir Light Rail
Transit Project in Turkey
Singapore & Hong Kong, February 23, 2011 - Midas Holdings Limited (麦 达 斯 控 股 有
限 公 司 ) (“Midas” or the “Company”, together with its subsidiaries, the “Group” SGXST stock code: 5EN SEHK stock code: 1021) announced today that its Aluminium
Alloy Division, Jilin Midas Aluminium Industries Co., Ltd (吉 林 麦 达 斯 铝 业 有 限 公 司 )
(“Jilin Midas”) has clinched two new international contracts worth an aggregate sum
of RMB83.5 million to supply aluminium alloy extrusion profiles, including certain
fabricated parts, for the Malaysia Intercity Urban Rail Project and the Izmir Light Rail
Transit (“LRT”) Project in Turkey respectively.
Both contracts were awarded by CSR Zhuzhou Electric Locomotive Co., Ltd (南 车 株
洲 电 力 机 车 有 限 公 司 ) (“CSR Zhuzhou”) to Midas, marking the Company’s foray into
the Malaysian market with a contract valued at RMB71.0 million. The Malaysia
Intercity Urban Rail Project will see Midas supplying aluminium alloy extrusion
profiles, including certain fabricated parts, for 38 train sets (1 train set = 6 train cars),
or an equivalent of 228 train cars. Delivery is expected to take place between 2011
and 2012.Page 2 of 3
The second contract awarded is for the Izmir LRT Project in Turkey. Under the terms
of the contract, Midas will supply aluminium alloy extrusion profiles, including certain
fabricated parts, for 8 train sets (1 train set = 4 train cars), or 32 train cars, for a
value of RMB12.5 million. This contract will be fulfilled this year, 2011.
Said Mr. Patrick Chew (周 华 光 ), CEO of Midas, on the Company’s new contract wins,
“We are delighted to have secured our maiden contracts in Malaysia and Turkey,
with the support of our customer CSR Zhuzhou. This is yet another affirmation of our
strong working relationship and quality products and services, in particular for our
downstream fabrication business.
“We will continue to build on our strong track record to explore opportunities to
further grow Midas’ export orders, which will complement our market leading position
in the PRC market.”
Both contracts are expected to have a positive impact on the Group’s financial
results for the financial years ending December 31, 2011 to 2012.
NEWS RELEASE
MIDAS AWARDED TWO INTERNATIONAL CONTRACTS IN NEW
GEOGRAPHICAL MARKETS
- Makes foray into Malaysia’s railway market with a RMB71.0 million contract to
supply 228 train cars for the Malaysia Intercity Urban Rail Project
- Wins RMB12.5 million contract to supply 32 train cars for the Izmir Light Rail
Transit Project in Turkey
MIDAS AWARDED TWO INTERNATIONAL CONTRACTS IN NEW
GEOGRAPHICAL MARKETS
- Makes foray into Malaysia’s railway market with a RMB71.0 million contract to
supply 228 train cars for the Malaysia Intercity Urban Rail Project
- Wins RMB12.5 million contract to supply 32 train cars for the Izmir Light Rail
Transit Project in Turkey
It will continue to plunge until 70 cents.
HSI and China index is truing green now. I think the mkt may rebounce a little ...
knightrider ( Date: 23-Feb-2011 11:14) Posted:
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Waiting for it to be shorted to below 72 cents.
thanks for all the advice!...
a while ago i bought in for sunvic and sold cos of korean war scare..this time i picked midas cos of their potential and ablity to not only gain from china but from the world as well.
the only this i am really hoping will not happen is that the investigation of the case in china gets midas involved. that would see the stock get suspended and what not.
i was thinking about averaging out again..but my remiser advice me not too..so i see how..maybe when the recover run is back..i might buy to keep or when the stock bottom out..i buy more..in the mean time..save more for buy in again!
Vested in midas at 28cent 35cent 50cents 73cents 89cents 1.10 cents.
If you are a long term investors, i believe one should start to buy again..
At $1.00 u accumulate if see stock drop 30% why dun buy some more..
Unless they stop the production due to unrest in middle east, or china gov ask them to stop the production..
I believe they are still generating revenue as we speak..
Osim at $0.05 alot people screaming not to buy and selll out (do not touch)
Osim at $1.60 analyst writing buy call, people start buying
Osim sudden drop $0.30 due to middle east crisis, people say stop accumulating see a wait will drop further (What rational is this, fear perhaps i guess)
Different people got different gut level.. (Not everyone can make good money in stock, it take guts and alot of good foresight) Dont run with the herd, stay focus and wait for bargain.. Buy at a price u think it is fair,
got to ask yourself what is fair value and buy according to what u think is cheap ( Only in crisis, there is good money to be made whether short or long term accumulations of stock
S$0.74 coming ! Rebound lai liao !!!
If there is no rebound in the near term , then breaking 72 cents would see it goes down to 67 cents which becomes the strong support now .
Bintang ( Date: 22-Feb-2011 18:55) Posted:
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Since you have already paid up i would think is better to hold. If you cut loss now isn't it quite a lot to bear.When you hold there is a chance that you may recover. Result is coming out on this Fri.There may be some dividend to collect and also clarification to be announced...
Have faith in the stock + it is close to it stock value of about 70 cents per unit ( 45% cash + Assets).
Jimmytai ( Date: 23-Feb-2011 10:57) Posted:
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If you are not holding many and you have some extra cash that you don't really need in the foreseeable near future, than buying a few lots can average down your costs. Note that this averaging down is conditional upon your risk aversion.
Jimmytai ( Date: 23-Feb-2011 10:57) Posted:
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better to stay away from this counter until the dust settles. risks far outweigh any potential rewards.
hope you are not holding too much.
72/97 is -25% already.
may be this is a good learning lesson on stock market.
sometime ago, some stocks can become -50% in one day, -70% in one day, or even -100% ( when it is Halt , follow by Suspense for years).
take a deep breath, go back to rethink your method of investing/trading, must learn something and get better procedure next time around
Jimmytai ( Date: 23-Feb-2011 10:57) Posted:
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hello! i am a member in this forum!
i went in for midas at 97 and now its 7plus...saddness....
just wanna know should i hold or sell it?
really heart super pain...
seems to be holding out pretty well now at .72....
Isolator ( Date: 23-Feb-2011 09:44) Posted:
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Don't go against it... Can try to buy at around 68ct...