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Below is my long term chart analysis for sharing and exchange pointers.
My TA chart is posted to share n exchange pointers with those TA practitioner whom believes in TA.
If u are a TA detractor, plse just ignore n refrain from peeping at my chart posting n start making unconstructive comments and plse do not be so childish or lunatic as to abuse the rating system by intentionally rating it as "bad post", this is not cursing but Buddhism beliefs tat intentional bad deeds will accumulate for yourself and possibly your next generation, "bad" karma for your "bad" deeds.
If u think it is a bad post, then be constructive and kindly post your TA for sharing. This is only my view n I may be right or wrong, so dyodd and SOBAYOR.
Below is my chart analysis for sharing and exchange pointers.
My TA chart is posted to share n exchange pointers with those TA practitioner whom believes in TA.
If u are a TA detractor, plse just ignore n refrain from peeping at my chart posting n start making unconstructive comments and plse do not be so childish or lunatic as to abuse the rating system by intentionally rating it as "bad post", this is not cursing but Buddhism beliefs tat intentional bad deeds will accumulate for yourself and possibly your next generation, "bad" karma for your "bad" deeds.
If u think it is a bad post, then be constructive and kindly post your TA for sharing. This is only my view n I may be right or wrong, so dyodd and SOBAYOR.
TA for 12Oct09 closed $0.87 : Midas
EMA15: $0.852 (Nice, today breakout EMA25)
EMA25: $0.851
EMA50: $0.838
Stochastic %K: 77.778
Williams'%R: -37.037
EMA15: $0.852 (Nice, today breakout EMA25)
EMA25: $0.851
EMA50: $0.838
Stochastic %K: 77.778
Williams'%R: -37.037
As at 4.15pm, trade summary show more sell down than buy up. Total sell down 2261 lots Vs buy up 649 lots.
This market seems going slower with smaller volume each day. I think Black October is a month that may not be so lucky this year too. Close position for this country by selling all my holding.... You guess can continue to wait till it flies to the sky.
Sold all my holding @865c.....made enough profit....waiting for another opportunity.
Yes, agreed but need to be more careful loh...
richtan ( Date: 12-Oct-2009 11:51) Posted:
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U have to look at the whole picture in perspective, it had aredi run-up for 4 days, bouncing up from a low of 0.785, so some profit-taking n consolidation is healthy n not un-expected.
JJSeng ( Date: 12-Oct-2009 11:46) Posted:
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As at 11.40am total trade summary show more sell down than buy up. Total sell down 1510 lots Vs total buy up 270 lots.
Ya..today boh lark cheong
From Kim Eng Research:
Midas Holdings – company update (James KOH 64321431)
Previous day closing price: $0.865
Recommendation: Buy (maintained)
Target price: $1.15 (maintained)
The mad rush for contracts starts now.
After some delays, the China Ministry of Railways has awarded the 2nd round of high-speed train contracts, with the CSR Group announcing on September 28 that it and its joint venture with Bombardier has won contracts for 4,160 train cars worth a total of RMB72.4b. We expect suppliers such as Midas to start vying for these contracts.
Midas is in a strong position to compete
This order is larger than the first round of orders awarded to the CNR Group, which was for 1,600 train cars valued at RMB39b. These comprised of a RMB45b contract for CSR Qingdao Sifang and a RMB27.4b contract for Bombardier Sifang (JV with Bombardier).
While the former traditionally used Japanese suppliers, we believe there may be a “Buy China” policy this time which will work in Midas’s favor.
On the NPRT front
Midas’s JV company, Nanjing SR Puzhen Rail Transport was recently awarded a RMB1.76b, 288 train cars contract for the Hangzhou Metro Line 1 project. With earnings only recognised upon delivery, this contract to be delivered between May 2011 and August 2013 implies associate contribution of about $3.5m per year for FY12 and FY13.
Proposed secondary listing in Hong Kong, another platform for equity fund-raising
We believe this will be done via issuing new shares to be listed there, with an expected timeline of 9-12 months. This will widen the investor base, for example funds which only has mandate toinvest in the HK market. This will also possibly facilitate equity fund-raising for the next round of investments in production expansion to match demand.
Contracts wins are impending
Our revenue model assumes Midas will win about 50-60% market share of the 2nd round oforders, which will be worth an estimated $175m.
Depending on the time line of delivery, orders above that could mean earnings upside.
We expect Midas to be in a good position to achieve strong orders which should flow down in about 3 months.
Today no strength.....considering to unload.
I had been posting almost everyday the below writeup from OCBC Investment Research:
Midas's firm order book of 1.4 billion yuan (S$296 million), more anticipated contract wins in Sept - Nov 2009... will serve to under-gird valuations"
Midas's firm order book of 1.4 billion yuan (S$296 million), more anticipated contract wins in Sept - Nov 2009... will serve to under-gird valuations"
From "Lim & Tan securities":
We remain positive on Midas given its robust
growth prospects, underpinned by its robust order
books of RMB1.4bln as well as the robust prospects
of its 32.5% owned subsidiary company, also
underpinned by solid order books of RMB4.5bln.
And this in turn reflects the government’s active
efforts to support the railcar industry in China to
reduce transportation bottlenecks as well as reduce
transportation costs. Rail transportation is much
cheaper than air travel and is much safer and causes
much less pollution than automotive transportation.
The company will be increasing their production
capacity by 200% in the next 2 years to cope with
the strong order flows. Its PE of 20x remains
undemanding compared to its expected growth rate
of 40-50%.
We remain positive on Midas given its robust
growth prospects, underpinned by its robust order
books of RMB1.4bln as well as the robust prospects
of its 32.5% owned subsidiary company, also
underpinned by solid order books of RMB4.5bln.
And this in turn reflects the government’s active
efforts to support the railcar industry in China to
reduce transportation bottlenecks as well as reduce
transportation costs. Rail transportation is much
cheaper than air travel and is much safer and causes
much less pollution than automotive transportation.
The company will be increasing their production
capacity by 200% in the next 2 years to cope with
the strong order flows. Its PE of 20x remains
undemanding compared to its expected growth rate
of 40-50%.
From OCBC Investment Research:
Midas Holdings:
Evaluating listing in HK.
Maintain BUY.
Midas Holdings (Midas) announced today that it is planning a secondary listing of its shares on the Main Board of the Stock Exchange of HongKong.
Midas has appointed Credit Suisse (Hong Kong) to assist the group in evaluating and preparing for this listing.
Mr Patrick Chew, CEO, says that Midas "is now ready to take Midas towards the next development phase and is optimistic that a listing on both the Singapore and HongKong bourses will allow Midas to tap into a wider investor base, increase liquidity and enhance the stock value".
Hong Kong valuations tend to be richer and this could bode well for dual-listed Singapore stocks.
Maintain BUY, fair value of S$1.05.
(Kelly Chia)
Midas Holdings:
Evaluating listing in HK.
Maintain BUY.
Midas Holdings (Midas) announced today that it is planning a secondary listing of its shares on the Main Board of the Stock Exchange of HongKong.
Midas has appointed Credit Suisse (Hong Kong) to assist the group in evaluating and preparing for this listing.
Mr Patrick Chew, CEO, says that Midas "is now ready to take Midas towards the next development phase and is optimistic that a listing on both the Singapore and HongKong bourses will allow Midas to tap into a wider investor base, increase liquidity and enhance the stock value".
Hong Kong valuations tend to be richer and this could bode well for dual-listed Singapore stocks.
Maintain BUY, fair value of S$1.05.
(Kelly Chia)
Midas does not just depend on trains, read extract from below:
Life after trains:
Over the longer term, management will look into other feasible, promising industries such as aviation to continue its growth.
I had been posting almost everyday the below writeup from Kim Eng:
Midas – Company update (James KOH 64321431)
Previous day closing price: $0.865
Recommendation: Buy (maintained)
Target price: $1.15 (Previously $0.985)
Still packing the theatre
We recently hosted a roadshow for Midas in the US, which was very well-received by funds.
The exciting growth prospects within the China rail infrastructure space continue to capture the
imagination, with the main discussion points being the competition within this space, the sustainability of growth for Midas and the progression on expansion.
A smaller share of the bigger pie
While Midas still holds a clear lead in terms of certification and track record,
management expects competition to intensify, with listed peers such as Shandong Nanshan (Shanghai) and Zhongwang (HK) stating their intentions to break into this market.
Going forward, they believe achieving a lower 50-60% market share of this growing pie would be a more reasonable target, which will still ensure strong growth.
Life after trains
Improving the rail infrastructure network is an important government initiative, with current directives providing clear visibility over the next 2-3 years. Even subsequent to the stimulus package, we expect this program to continue.
Over the longer term, management will look into other feasible, promising industries such as aviation to continue its growth.
Progress on the installation of 4th and 5th extrusion lines
We now expect the 4th and 5th extrusion lines to come on stream by 2Q09 and 4Q09, earlier than our earlier estimates.
Our model factors in Midas winning a 50%-60% market share of the upcoming round of orders, which is twice the size of the first round. This will already keep all its five extrusion lines busy at about 75% utilisation.
Much more tracks to run
We adjust our earnings to take into account higher effective capacity in FY10 and higher tax rates in FY11.
We now peg our target price to 20X FY10E.
We believe the Chinese rail industry is still at its early-mid cycle.
With the Ministry of Railway due to announce the 2nd round of high-speed train orders, we expect orders to flow down to Midas within 3-4 months
Life after trains:
Over the longer term, management will look into other feasible, promising industries such as aviation to continue its growth.
I had been posting almost everyday the below writeup from Kim Eng:
Midas – Company update (James KOH 64321431)
Previous day closing price: $0.865
Recommendation: Buy (maintained)
Target price: $1.15 (Previously $0.985)
Still packing the theatre
We recently hosted a roadshow for Midas in the US, which was very well-received by funds.
The exciting growth prospects within the China rail infrastructure space continue to capture the
imagination, with the main discussion points being the competition within this space, the sustainability of growth for Midas and the progression on expansion.
A smaller share of the bigger pie
While Midas still holds a clear lead in terms of certification and track record,
management expects competition to intensify, with listed peers such as Shandong Nanshan (Shanghai) and Zhongwang (HK) stating their intentions to break into this market.
Going forward, they believe achieving a lower 50-60% market share of this growing pie would be a more reasonable target, which will still ensure strong growth.
Life after trains
Improving the rail infrastructure network is an important government initiative, with current directives providing clear visibility over the next 2-3 years. Even subsequent to the stimulus package, we expect this program to continue.
Over the longer term, management will look into other feasible, promising industries such as aviation to continue its growth.
Progress on the installation of 4th and 5th extrusion lines
We now expect the 4th and 5th extrusion lines to come on stream by 2Q09 and 4Q09, earlier than our earlier estimates.
Our model factors in Midas winning a 50%-60% market share of the upcoming round of orders, which is twice the size of the first round. This will already keep all its five extrusion lines busy at about 75% utilisation.
Much more tracks to run
We adjust our earnings to take into account higher effective capacity in FY10 and higher tax rates in FY11.
We now peg our target price to 20X FY10E.
We believe the Chinese rail industry is still at its early-mid cycle.
With the Ministry of Railway due to announce the 2nd round of high-speed train orders, we expect orders to flow down to Midas within 3-4 months
There are more trains contracts, aerospace contracts in the making...watch this space....90 cents is gonna get broken, just a matter of time.
You should say these Chinese loaded money and strong fundamental!
ozone2002 ( Date: 09-Oct-2009 16:00) Posted:
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wah like quite bad leh.. hmm..
bennykusman ( Date: 09-Oct-2009 10:10) Posted:
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Alemak, siow liow, hope he/she honour his/her words.
dcang84 ( Date: 09-Oct-2009 15:58) Posted:
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