Singapore Stock Market News

Midas Holdings - Expansion nears completion

StockFanatic
Publish date: Fri, 07 Nov 2014, 01:33 PM
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■ We recently paid a visit to the Group's plants in Jilin, Henan and Nanjing (NPRT)

■ Phase 1 of its new 200,000-ton per annum aluminium alloy plate and sheet plant should start commercial production by 2H15, and contribute positively to earnings in 2016

■ FY14F/15F earnings estimates cut by 67%/51% respectively with FY16 earnings projected to show firm improvement to RMB197m

Maintain BUY with a reduced TP of S$0.45, based on 0.9x FY14F P/B
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