Shares & Derivatives
Midas wins its second high speed contract this month worth RMB146mn….bringing its total high speed train contracts won in April 2014 alone to more than RMB450mn…
By Kevin Scully-Financial Blog  •  April 29, 2014

Tuesday, 29 April, 2014 5:17 AM

Posted by Kevin Scully

 Midas announced last night that it has won another high speed train contract worth RMB146mn last night.  This is its third high speed train contract.  This contract brings Midas' total order book for 2014 to RMB536.9mn.   This contract is about half the size of the contract it announced on 7 April 2014 but I am more interested in the pace of high speed contracts as Midas only started winning high speed train contracts in October 2013.  

I am hopeful that more high speed contract wins will help the share break the S$0.50 level.  After all the Chinese Government has already identified and increased the budget for its high speed train contracts in 2014 to cushion the softening Chinese economy as part of its pump priming efforts which should be good for Midas.....keep watching these ...

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By Kevin Scully-Financial Blog
Kevin began his working life in the regional and economics division of the Ministry of Foreign Affairs. He then moved to the private sector analyzing equities before venturing out to start NRA Capital. After 25 years of watching stocks and living through financial disarray during the Pan Electric Crisis, the 1987 Crash, the Barings debacle, the Gulf War, Asian financial crisis - what can sub-prime do but add another scar to already bruised wounds. Ever since starting his blog, Kevin has been enthusiastically giving his personal views on the market. He discusses about equities, the market turmoil, and the broad economy.
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