Towards Financial Freedom
Midas secures 318m worth of contracts
Midas has secured contracts for high-speed train car body components worth RMB318m from CNR Tangshan Railway Vehicle Co Ltd. It will supply aluminum alloy extrusion profiles and certain fabricated parts due for delivery in 2014, for high-speed trains that will operate at speeds up to 350km/hr and willcontribute positively to Midas's FY14 performance. This positive news bode well with the fact that the Chinese governmentis eyeing a massive injection of private capital in developing the industry. We currently have a BUY rating for the stock with TP of SGD0.75
Source: OSK-DMG
Source: OSK-DMG
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