Midas    Last:0.192   -

Midas

'plans' only.. nth concrete, shld it even be publised?? isn't it a case of no news is gd news

bsiong      ( Date: 24-Nov-2010 09:39) Posted:   Midas Holdings Ltd Company update - On faster tracks - by Kenneth Ng CFA (MIDAS SP / MIDA.SI, OUTPERFORM - Maintained, S$0.93 - Tgt. S$1.26, Industrial Goods and Services) Midas plans to expand its aluminium extrusion capacity further to 70,000mt (+40%) by 1H12 after its recent capacity expansion. Coupled with strong results from its metro train maker associated company, we see better earnings growth ahead. As a result, we raise our net profit forecasts for FY10-12 by 1-11%. Our target price rises accordingly from S$1.14 to S$1.26, still based on 15x CY12 P/E, in line with peers. We see stock catalysts from sizeable contract wins in FY11 from Chinese train makers. /cimb - i came i read i posted FYI only.

 

Does it matter you?

hlfoo2010      ( Date: 24-Nov-2010 13:32) Posted: Is Mr. Patrick Chew, Chief Executive Officer of Midas a singaporean?

 

Midas has gone into downtrend or rather sideway , it may take few months to do  the correction .

bluesky88      ( Date: 25-Nov-2010 08:27) Posted: I'll advise you to cut lose & look at other counter with better hope... I cut lose & sold mine! Now aiming GenSp.

 

I'll advise you to cut lose & look at other counter with better hope...

I cut lose & sold mine! Now aiming GenSp.

 

0.93 now even with good news ...whats happening man?

 

Until now Midas still stays below 94 cents .

kiasiDBT      ( Date: 31-May-2010 14:35) Posted: Midas has been clinching one contract after another, we shall see whether "Any rebounce may stop at 94 cents " Bintang      ( Date: 31-May-2010 08:38) Posted: Weekly DIs are negatively placed now after which were positively placed for more than 12 months . Weekly RSI is also breaking the long term support at 50 to reach 42 last week . Midas 's trend now looks weaker than before . Any rebounce may stop at 94 cents .

 

Until now Midas still stays below 94 cents .

Bintang      ( Date: 04-Jun-2010 10:25) Posted: Clinching more contracts or whatever , as long as it still stays below the 200MA  , the downtrend is intact . Bintang      ( Date: 02-Jun-2010 07:03) Posted: So now u know that nothing could against the market sentiments even though  'clinching one contract after another '

 

Is Mr. Patrick Chew, Chief Executive Officer of Midas a singaporean? 

 

 

Midas Holdings Ltd

Company update - On faster tracks - by Kenneth Ng CFA

(MIDAS SP / MIDA.SI, OUTPERFORM - Maintained, S$0.93 - Tgt. S$1.26, Industrial Goods and Services)

Midas plans to expand its aluminium extrusion capacity further to 70,000mt (+40%) by 1H12 after its recent capacity expansion. Coupled with strong results from its metro train maker associated company, we see better earnings growth ahead. As a result, we raise our net profit forecasts for FY10-12 by 1-11%. Our target price rises accordingly from S$1.14 to S$1.26, still based on 15x CY12 P/E, in line with peers. We see stock catalysts from sizeable contract wins in FY11 from Chinese train makers.

/cimb - i came i read i posted FYI only.

 

 

I already cut loss now....

 

Wow 935 broken.......HK 1021 trading at 542.

 

Will have to cut loss if it drops below 0.93...(break out from descending triangle..)

 

On Tuesday, Midas breaks the support at $0.97 and closed at $0.96 with LOW volume of 4 million shares traded.

An engulfing bearish line occurred (where a black candle’s real body completely contains the previous white candle’s real body).  The engulfing bearish pattern is bearish during an uptrend.  It then signifies that the momentum may be shifting from the bulls to the bears.

Both RSI & MACD are bearish as RSI trend downwards.

Important Resistance of Midas: $0.97

Immediate Support of Midas: $0.935

Currently prices are resisted by the 20/50/200 days MA but supported by 100 days MA.

There are a total of 3 bearish signals for Midas

1)      Bearish Candle Stick: Engulfing bearish line

2)      Bearish trend line: Descending triangle

3)      Bearish Indicators: RSI heading downwards and MACD about to cross down

SEE ANALYSIS FOR GENTING HK


Although we feel that $0.935 will be strong but we would warn investors to consider carefully before vested.

 

BECAUSE RMB iS pEg to USD lor....for now.

AlSO cUsToMeR is aLmost aMeRiCaNo lOr.....

You like my font.....sexy right ??

pharoah88      ( Date: 17-Nov-2010 11:20) Posted: WHY  in USD  WHEN  business is in CHINA    ? ? ? ? So  Share  price  went  to  the  forex  market    ? ? ? ? Otherwise  it  should  be shooting  like  rocket    ? ? ? ? Andrew      ( Date: 13-Nov-2010 22:26) Posted: Midas report Q3 with 13M SGD profit.  BUT total comprehensive income only 2.3M SGD. The 11.3M SGD in exchange loss or they called it "Translation differences relating to financial statements of foreign subsidiaries" I think got problem.......afterall it is a near billion dollar company.

 

WHY  in USD  WHEN  business is in CHINA    ? ? ? ?

So  Share  price  went  to  the  forex  market    ? ? ? ?

Otherwise  it  should  be shooting  like  rocket    ? ? ? ?

Andrew      ( Date: 13-Nov-2010 22:26) Posted: Midas report Q3 with 13M SGD profit.  BUT total comprehensive income only 2.3M SGD. The 11.3M SGD in exchange loss or they called it "Translation differences relating to financial statements of foreign subsidiaries" I think got problem.......afterall it is a near billion dollar company.

 

To me, its a good buying time ;) holding my lots until it shoots up...fundamentals are obviously strong...

 

The small problem of dual listing........1021 is now trading at 5.35HK or 90 Scts below IPO price.

Small volume done 302lots.....

 

Midas Holdings – Results (Toh wei kiong)

Recommendation: Buy

Previous close: S$0.97

Fair value: S$1.16

 

·           Revenue for 3Q10 up 34.5% y-y to S$49.7m, net profit up 45.5% to S$13.7m

·           3Q10 results were slightly ahead of our expectations

·           Will pay out at least S$0.01 of dividends for FY10 (forecasting: S$0.013)

·           Maintain Buy recommendation and fair value estimate of S$1.16

 

Phillip Securities Research Pte Ltd

Singapore

15 Nov 2010

/ 

 

but the stock price keep dropping...

 

Midas Holdings: BUY; S$0.97; Bloomberg Code: MIDAS SP
Earnings on track
Price Target : S$ 1.20 (Prev S$ 1.21)

by: Paul Yong + 65 6398 7951

               3Q10 net profit of S$13.7m (+45%), 10% above our expectation.

               Gross profit up 20% yoy from new extrusion lines with associate
 contribution up 250% to S$3.2m

               Declared 0.25 Scts dividend

               Maintain BUY, TP S$1.20 based on 20x FY11 EPS

Comment on Results
Midas’ 3Q10 results were slightly above expectations, growing 45% yoy to S
$13.7m on revenue growth of 35% yoy to S$50m.
Contributions from the 3rd and 4th production lines helped to drive revenue
growth with gross profit up 20% yoy and contribution from associate Nanijng
Puzhen up 250% to S$3.2m. Gross margin of 35.8% showed a 3.4ppt sequential
improvement, as the new lines start to contribute.

YTD Midas’ net profit increased by 27% yoy to S$34.7m on 35% growth in
revenue to S$143.4m, on track to meet our full year forecast of S$47.8m.

Recommendation
Backed by c. RMB1.5bn order book for its core business and c. RMB7bn for
its associate Nanjing Puzhen, Midas’ earnings growth prospects remain
bright. Furthermore, with nearly S$200m raised on its dual-listing in HK,
Midas would be in a net cash position of over S$150m, which would help to
fund its future expansion plans (beyond its current 5 extrusion and 3
down-stream fabrication lines). The Group will continue to win more railway
related contracts to sustain its growth momentum.

We raised our FY10 and FY11 forecasts slightly and rolled over our target
price to 20x FY11 earnings (fully diluted for the enlarged share cap) to
derive our S$1.20 TP. Maintain BUY.

Source: DBS Securities

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