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 ...