ValueBuddies.com : Value Investing Forum - Singapore, Hong Kong, U.S. › ValueBuddies.com › Singapore Listed Companies › M - M v
Midas Holdings

Midas Holdings

Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
KopiKat Offline
Tikam Buddy
*****
Posts: 1,889
Threads: 5
Joined: Feb 2011
Reputation: 15
#31
10-05-2013, 05:51 PM
PROFIT GUIDANCE FOR THE FIRST QUARTER ENDED 31 MARCH 2013

<Not Vested>
Luck & Fortune Favours those who are Prepared & Decisive when Opportunity Knocks
------------ 知己知彼 ，百战不殆 ；不知彼 ，不知己 ，每战必殆 ------------
Find
Reply
freedom Offline
Posting Freak
*****
Posts: 2,113
Threads: 19
Joined: Dec 2010
Reputation: 5
#32
10-05-2013, 06:00 PM
Correct me if I am wrong.

Did it issue a profit guidance prior to every quarter? And the guidance was always bad?
Find
Reply
felixleong Offline
Banned
Posts: 1,039
Threads: 14
Joined: Dec 2012
#33
10-05-2013, 06:02 PM
I thought they kept winning many contracts... so weird... how come earnings are not reflecting??
Find
Reply
freedom Offline
Posting Freak
*****
Posts: 2,113
Threads: 19
Joined: Dec 2010
Reputation: 5
#34
10-05-2013, 06:03 PM
(10-05-2013, 06:02 PM)felixleong Wrote: I thought they kept winning many contracts... so weird... how come earnings are not reflecting??


contract is just revenue, which does not warrant profit.
Find
Reply
greengiraffe Offline
Posting Freak
*****
Posts: 8,305
Threads: 496
Joined: Jul 2011
Reputation: 60
#35
10-05-2013, 11:18 PM
(10-05-2013, 06:03 PM)freedom Wrote:
(10-05-2013, 06:02 PM)felixleong Wrote: I thought they kept winning many contracts... so weird... how come earnings are not reflecting??


contract is just revenue, which does not warrant profit.

yester year darling - the other fallen angel Raffles Edu also forgotten liao...
Find
Reply
KopiKat Offline
Tikam Buddy
*****
Posts: 1,889
Threads: 5
Joined: Feb 2011
Reputation: 15
#36
11-05-2013, 11:04 AM
(10-05-2013, 06:03 PM)freedom Wrote:
(10-05-2013, 06:02 PM)felixleong Wrote: I thought they kept winning many contracts... so weird... how come earnings are not reflecting??


contract is just revenue, which does not warrant profit.


If I'm not wrong, there was a freeze on rail orders by the PRC govt aro' 2011 after several major accidents. Midas was likely too dependent on this segment of their biz and till today, we're seeing the aftershocks of zero orders for that period of time from that segment. Without a detailed study, my guess is the resumption of orders will take time for it to be recognised and to be collectively large enough (critical mass) to become profitable.

Perhaps when they stop issuing their quarterly Profit Guidance, it'd be a signal that the turnaround is complete...Big Grin
Luck & Fortune Favours those who are Prepared & Decisive when Opportunity Knocks
------------ 知己知彼 ，百战不殆 ；不知彼 ，不知己 ，每战必殆 ------------
Find
Reply
cfa Offline
Posting Freak
*****
Posts: 1,343
Threads: 49
Joined: Nov 2010
Reputation: 7
#37
11-05-2013, 01:37 PM (This post was last modified: 11-05-2013, 01:39 PM by cfa.)
Their gross margins can no longer maintain a net profit. Knowing the orders would lose money still have to take the orders, otherwise no works for the workers . It is in a situation that to continue a loss making biz or close shop completely. Real predicament.
“risk comes from not knowing what you’re doing.”
I don’t look to jump over 7-foot bars: I look around for 1-foot bars that I can step over.
Find
Reply
pianist Offline
Posting Freak
*****
Posts: 2,808
Threads: 170
Joined: Sep 2010
Reputation: 1
#38
11-05-2013, 02:11 PM
How come never build our mrt trains?
Find
Reply
LionFlyer Offline
Senior Member
****
Posts: 534
Threads: 16
Joined: Dec 2010
Reputation: 7
#39
11-05-2013, 03:10 PM
(11-05-2013, 02:11 PM)pianist Wrote: How come never build our mrt trains?

They do lah, but not complete cars. They won a $17.3 million contract recently for the Downtown line.

But their main money spinner is their JV in China.
You can count on the greed of man for the next recession to happen.
Find
Reply
felixleong Offline
Banned
Posts: 1,039
Threads: 14
Joined: Dec 2012
#40
11-05-2013, 07:27 PM
hm... btw why their JV keeps bleeding money?
Find
Reply


Forum Jump:


Users browsing this thread: 3 Guest(s)