Midas Holdings

Quote:- Midas has real products and are suppliers to real customers. It's P/L and balance sheet are (probably) real - until the extent where it hasn't account for the liabilities that was discovered recently.

That's no doubt about that. But, it is unknown whether the P/L and balance sheet are truly reflecting the company financial yearly. For companies that live on multiple big contracts and getting big contracts, there is a tendency to use the next contract to cover the cost of the previous one due to overrun. So, if this practice continues, it is just a matter of time that it will collapse. And this practice is technically difficult to audit based on submitted financial data.

If Patrick Chew was in charge, there is no way all these irregularities can happen. Conversely, if all these irregularities can happen, Patrick Chew was never in charge. Perhaps the more appropriate question we should be asking is whether these irregularities were blind chances or they were simply mischievous designs. The Chinese authorities appear to be unconcerned if the wronged parties are mere Singaporean shareholders. However, as seen in Anwell Technologies, the punishment can be very harsh if the irregularities harm any Chinese financial institutions/individuals

Chews Brothers' Sitra-RafflesEdu-Midas - total mkt cap destruction from peak = > SGD 2bn?

Midas: Mr. Patrick Chew Wins Best CEO Award At Singapore Corporate Awards 2014.
16 Jul 2014 10:54
Midas Holdings Limited is pleased to announce that its CEO, Mr. Patrick Chew, has been awarded the "Best Chief Executive Officer" Award, for companies with $300 million to less than $1 billion in market capitalisation, at The Singapore Corporate Awards 2014. This award comes with a reminder that business managers have a duty to lead by example and ensure that the highest standards of corporate governance and best practices are sustained for the benefit of all stakeholders...

(24-03-2018, 04:39 PM)cfa Wrote: Midas: Mr. Patrick Chew Wins Best CEO Award At Singapore Corporate Awards 2014.
16 Jul 2014 10:54
Midas Holdings Limited is pleased to announce that its CEO, Mr. Patrick Chew, has been awarded the "Best Chief Executive Officer" Award, for companies with $300 million to less than $1 billion in market capitalisation, at The Singapore Corporate Awards 2014. This award comes with a reminder that business managers have a duty to lead by example and ensure that the highest standards of corporate governance and best practices are sustained for the benefit of all stakeholders...

I combed through Midas announcements on SGX and saw that it also won some awards in 2016. I didn't even bother to mentally remember what award they won.

I think by now, all serious VBs know that these awards have no meaning at all and should have no bearings to the decision making process of investing.

They also won the infamous sias awards. Perhaps they are following the paths of some famous sias award winners😂

(24-03-2018, 05:06 PM)CY09 Wrote: They also won the infamous sias awards. Perhaps they are following the paths of some famous  sias award winners😂

This seems to be incredibly predictive 

(25-03-2018, 08:59 PM)specuvestor Wrote:

(24-03-2018, 05:06 PM)CY09 Wrote: They also won the infamous sias awards. Perhaps they are following the paths of some famous  sias award winners[emoji23]

This seems to be incredibly predictive 

and i have to wonder why the "referee" is not investigating for the corelation between the two and the reason why!
Would the "donation" determine how the award is given? and hence smoothen the exit of majority shareholders or certain parties?
just saying, of cos this is nothing but hypothetic!


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(26-03-2018, 07:36 AM)ksir Wrote:

(25-03-2018, 08:59 PM)specuvestor Wrote:

(24-03-2018, 05:06 PM)CY09 Wrote: They also won the infamous sias awards. Perhaps they are following the paths of some famous  sias award winners[emoji23]

This seems to be incredibly predictive 

and i have to wonder why the "referee" is not investigating for the corelation between the two and the reason why!
Would the "donation" determine how the award is given? and hence smoothen the exit of majority shareholders or certain parties?
just saying, of cos this is nothing but hypothetic!


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https://www.shareinvestor.com/news/news....nid=144207

Midas Holdings Limited has been conferred the "Most Transparent Company Award" at the Singapore Investors Association (Singapore) 17th Investors' Choice Awards under the 'Materials' Category. This marks the fifth year in a row that Midas has been placed at the top in corporate governance under the SIAS Investors' Choice Awards.


It sounds like the most sarcastic reward on hindsight.

SIAS also organised investors dialogue for Yuuzoo investors with management recently?