Shares & Derivatives
Midas hit the big one – its associate NPRT has won three Metro rail contracts worth RMB3.5bn…….this could be the catalyst to break S$0.50 !?
By Kevin Scully-Financial Blog  •  June 5, 2014

Thursday, 5 June, 2014 8:38 AM

Posted by Kevin Scully

 Midas announced last night that its 32.5% associate company Nanjing SR Puzhen Rail Transport Co., Ltd has won three contracts totalling RMB3.5bn.  This award brings its total rail contracts in 2014 to more than RMB 4.5bn.

The three contracts are as follows:

a) RMB1.5 billion, was awarded by Suzhou Rail Transit Co., Ltd for completion in 2015 to 2017

b) RMB0.9 billion, was awarded by Hefei Urban Rail Transit Co., Ltd.for completion in 2015 to 2016

c) RMB1.1 billion, was awarded by Hangzhou Metro Group Co., Ltd. for completion in 2014 to 2017.

Commentary

Besides increasing Midas' order book, these three contracts are important as they are high speed contracts which have historically enjoyed better margins.  In my earlier commentary about what would be needed for Midas to break the S$0....

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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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