BULLSEYE88 replied the topic: MIDAS HOLDINGS - NEW ERA & NEW ORDERS . NET PROFIT JUMPS !
Midas Holdings Limited (麦达斯控股有
限公司) (“Midas” or the “Company”, together with its subsidiaries, the “Group”; SGX-
ST stock code: 5EN; SEHK stock code: 1021) is pleased to announce that its joint
venture company, CRRC Nanjing Puzhen Rail Transport Co., Ltd. (“南京中车浦镇城
轨车辆有限责任公司”) (“NPRT”) has secured a metro train car supply contract worth
RMB543 million in the People’s Republic of China (“China” or the “PRC”).
The supply contract was awarded by Shanghai Rail Transit Line Two Development
Co., Ltd. (上海轨道交通二号线发展有限公司) for the Shanghai Metro Line 2 (上海市
轨道交通 2 号线), with delivery scheduled between January 2018 and November
Commenting on NPRT’s latest contract win, Mr. Patrick Chew (周华光), Executive
Director and Chief Executive Officer of Midas, said, “We are pleased to see that
NPRT continues to benefit from China’s growing railway network. NPRT’s new
contract win reflects the continued demand for its services in the PRC as well as
NPRT’s competitive advantage in the railway transportation industry. We are
optimistic that NPRT is well-positioned to expand its market share as new
opportunities continue to emerge in China’s rail sector.”
The contract is expected to contribute positively to the Group’s financial performance
for the 2018 financial year.