Midas Holdings - Making a comeback | I3investor

Blogs Headlines

Singapore Stock Market News

Midas Holdings - Making a comeback

StockFanatic

Publish date: Sun, 02 Mar 2014, 09:02 AM

FY13 net profit of Rmb47.7m was spot on at 100% of our forecast, but was slightly above consensus. 4Q13 was the first quarter that Midas recognised revenue from the first high-speed rail (HSR) contract that it has won since 2011, which lent a boost to its earnings. Midas also seems to be on the recovery path, with inventory and receivable days falling for the third consecutive quarter.

We maintain our Add recommendation, but cut FY14-15 EPS by 4-12% due to lower margins and higher debt assumptions. Our target price slips to S$0.71, still based on 1.29x CY14 P/BV (a 20% discount to its average P/BV from 2010-2011). The key catalyst is new HSR contract wins.

Related Stocks

Market Buzz

More articles on Singapore Stock Market News

Market Commentary: Record highs on trade, vaccine developments

Created by StockFanatic | Aug 26, 2020

Market Commentary: Record highs on trade, vaccine developments

Created by StockFanatic | Aug 26, 2020

Market Commentary: Data help US market end week on a high note

Created by StockFanatic | Aug 24, 2020

Market Commentary: Data help US market end week on a high note

Created by StockFanatic | Aug 24, 2020

Market Commentary: And they are back, with S&P within inches of record high close

Created by StockFanatic | Aug 13, 2020

Market Commentary: And they are back, with S&P within inches of record high close

Created by StockFanatic | Aug 13, 2020

Market Commentary: Winning streak snaps

Created by StockFanatic | Aug 12, 2020

Market Commentary: Winning streak snaps

Created by StockFanatic | Aug 12, 2020

Market Commentary: US negotiations over stimulus continue amid diplomatic tensions

Created by StockFanatic | Aug 11, 2020

Market Commentary: US negotiations over stimulus continue amid diplomatic tensions

Created by StockFanatic | Aug 11, 2020

Discussions

Be the first to like this. Showing 0 of 0 comments

Post a Comment

Featured Posts

MQ Chat

New Update. Discover investment communities that resonate with your ideas

VCPlus

Trade Confidently & Analyze Charts Conveniently - Download VCPlus IOS & Android App Now!

Latest Videos

New IPO: Supreme Consolidated Resources Berhad, a distributor and warehouser of F&B products, aims to list on the ACE Market!

0:17

New IPO: Supreme Consolidated Resources Berhad, a distributor and warehouser of F&B products, aims to list on the ACE Market!

MQ Trader 256 views | 9 d ago

New IPO: O&G healthcare service provider, Metro Healthcare Berhad aims to list on the Ace Market!

0:17

New IPO: O&G healthcare service provider, Metro Healthcare Berhad aims to list on the Ace Market!

MQ Trader 2446 views | 17 d ago

M & A Value Partners IPO Equity Fund

0:43

M & A Value Partners IPO Equity Fund

MQ Trader 10177 views | 4 mo ago

MQ Market Updates - 15 November 2024

0:15

MQ Market Updates - 15 November 2024

MQ Trader 117 views | 1 d ago

MQ Market Updates - 14 November 2024

0:16

MQ Market Updates - 14 November 2024

MQ Trader 141 views | 2 d ago

Apps

Send individual or group chats with anyone on i3investor

Earn MQ Points while trading with MQ Trader

MQ Affiliate

Earn side income from Affiliate Program

Online learning and teaching marketplace

Top Articles

1

RHB Investment Research Reports

Singtel - Solid EBIT Delivery; Keep BUY

2

CEO Morning Brief

OCBC Has Enough Capital for M&A, Business Growth, CEO Says

3

RHB Investment Research Reports

StarHub - DARE+ Tailing Off; Merger Posture

4

RHB Investment Research Reports

Bumitama Agri - Decent 3Q24 Net Profit Despite Output Drag; BUY

5

RHB Investment Research Reports

Riverstone - Growth Remains Intact; Maintain BUY

Hot Stocks Today >

1

1000

2

DBS Group Holdings Ltd

322

3

Oversea-Chinese Banking Corporation Ltd

286

4

United Overseas Bank Ltd

269

5

Singapore Airlines Ltd

248

6

CapLand Ascendas REIT

Ascendas Real Estate Investment Trust

239

7

Singapore Telecommunications Ltd

238

8

CapLand IntCom T

222

9

Mapletree Log Tr

Mapletree Logistics Trust

221

10

Mapletree Ind Tr

Mapletree Industrial Trust

219

Daily Stocks

HSI 22000MBeCW241230

0.039

-0.003

153,544,500

HSI 21800MBeCW250127

0.065

0.00

58,007,500

HSI 21400MBeCW241230

0.05

0.00

56,600,000

HSI 23200MBeCW250127

0.042

-0.001

42,574,300

Genting Sing

0.775

+0.01

41,518,400

Man Oriental USD

1.79

+0.09

34,538,825

CapLand IntCom T

1.98

+0.01

29,808,900

Seatrium Ltd

1.86

-0.03

29,682,900

HSI 18200MBePW241230

0.07

-0.003

28,327,500

YZJ Shipbldg SGD

2.54

-0.01

23,366,700

More active Stocks

236.96

+1.46

3,105

42.08

+1.04

322,000

JD 5xShortSG260513

2.88

+0.384

1,000

12.79

+0.38

1,216,600

36.37

+0.37

2,809,100

317.96

+0.32

1,102

NVDA 3xLongSG261006

8.32

+0.291

3,000

TESLA 3xShortSG261006

1.135

+0.257

50,100

META 3xShortSG261006

4.26

+0.248

1,000

AMZN 3xShortSG261006

2.51

+0.207

2,000

More gainer Stocks

SPDR S&P500 US$

592.00

-7.30

560

TESLA 3xLongSG261006

8.18

-1.878

4,500

XT SingGovBond SG$

151.05

-1.00

50

Nasdaq 7xLongUB250922

11.93

-0.827

100

NetEase 5xShortSG250320

0.245

-0.426

74,600

XT Vietnam US$

24.45

-0.22

3

S&P 7xLongSG260226

3.37

-0.218

12,100

DBS 5xLongSG250716

6.29

-0.147

6,600

NetEase 5xShortUB251128

0.111

-0.146

1,300

Geely 5xLongSG251113

0.36

-0.143

213,000

More loser Stocks

Featured Advertisers / Partners

Top Brokers >

1

CGS-CIMB Securities

2

Citibank Brokerage

3

DBS Vickers

4

iFAST Financial Pte Ltd (FSMone)

5

KGI Securities

Books Review >

Ride The Bull Short The Bear

CS Tan

4.9 / 5.0

This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....