Home Capital Broker's Calls

Midas hasn’t lost its golden touch

PC Lee
PC Lee11/21/2016 11:26 AM GMT+08  • 2 min read
Midas hasn’t lost its golden touch
SINGAPORE (Nov 21): DBS Group Research is maintaining its “buy” call on Midas Holdings as it expects earnings recovery to continue at a slower pace over the next two years as new projects and acquisitions increase their contribution to the group.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

SINGAPORE (Nov 21): DBS Group Research is maintaining its “buy” call on Midas Holdings as it expects earnings recovery to continue at a slower pace over the next two years as new projects and acquisitions increase their contribution to the group.

In a Friday report, analyst Paul Yong expects Midas’ existing businesses to contribute steadily into 2017F and 2018F based on order books of RMB800 million ($166 million) for its core extrusion business and over RMB14 billion for its associate Nanjing SR Puzhen Rail Transport Co. (NPRT).

NPRT is one of only four licensed metro train assembly companies in China, and has an order book of over RMB14 billion currently. With strong domestic demand for metro train cars, and a large order book, Midas expects NPRT to make a stable contribution of about RMB35 million per year in 2016 and 2017, compared to RMB32 million in 2015.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now