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Midas Holdings

Midas Holdings

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KopiKat Offline
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#31
10-05-2013, 05:51 PM
PROFIT GUIDANCE FOR THE FIRST QUARTER ENDED 31 MARCH 2013

<Not Vested>
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freedom Offline
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#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?
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felixleong Offline
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#33
10-05-2013, 06:02 PM
I thought they kept winning many contracts... so weird... how come earnings are not reflecting??
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freedom Offline
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#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.
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greengiraffe Offline
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#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...
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KopiKat Offline
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#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
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cfa Offline
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#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.
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pianist Offline
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#38
11-05-2013, 02:11 PM
How come never build our mrt trains?
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LionFlyer Offline
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#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.
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felixleong Offline
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#40
11-05-2013, 07:27 PM
hm... btw why their JV keeps bleeding money?
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