erelation wrote: ZEN, You always buy 0.5 cents cheaper than me...
Already loaded at 46.5 cents.... don't want to wait and queue.... even if the market is not good... fundamentally the chinese government is still very much committed to print more money and build more railway.... That's good for MIDAS.
I am re-posting the outlook from last quarter result....
Outlook
According to the China Railway Corporation (“CRC”), China’s national railway operator, railway fixed asset investments for the first nine months of the year reached RMB369.7 billion, which was a 7.4% increase from the previous corresponding period. This follows an earlier announcement by the CRC that it will be raising annual investments in fixed assets to RMB660 billion in 2013.
In China’s 12th 5-year plan for railway development, China will have around 123,000 km of railways in operation by 2015, including 18,000 km of high-speed railways and an express railway network totaling 40,000 km in length. The CRC plans to have approximately 5,500 km of new railway lines put in operation by end 2013, extending the size of the rail network to over 100,000 km, while the high-speed rail network will exceed 10,000 km.
“The Chinese Government’s continued focus on developing the PRC railway network will definitely generate opportunities for industry players. Accordingly, we are optimistic that Midas will be able to leverage on its leadership position in the PRC market as well as NPRT’s capabilities to secure further growth. Our strategy remains unchanged, and the Group will continue to harness growth opportunities in the PRC and exports to generate value for our shareholders,” Mr Chew concluded
I am a little concerned as to why there is still no announcement of contract wins from the second HST order completed in Dec last year. Surely CSR and CNR would have awarded the relevant contracts to Midas by now. I cant understand the delay.
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