Singapore Stock Picking

Midas has a bullish pennant chart formation. A break above the pennant will poise for further upside. Midas's last high was 71.5 cents (Resistance).

Corporate profile :

Midas Holdings Limited was incorporated on 17 November 2000 as an investment holding company, with initial strategic investments focusing on two emerging product markets in the People's Republic of China (PRC) large-section aluminium alloy extrusion products and polyethylene pipes, where there is a need for these products in the fast developing and growing PRC transportation, power and infrastructure industries.

Our Aluminium Alloy Division has since become one of the leading manufacturers of large-section aluminium alloy extrusion products in the PRC, garnering a significant market share for such products in the transportation and power industries.

Our Agency and Procurement Division was set up in November 2005 headquartered in Beijing. Besides its role as a central procurement centre for our business divisions, it also serves to leverage on the existing supplier and customer relationships to expand our product range to both existing and potential customers.

In 2006, we invested in a 32.5% equity stake in Nanjing SR Puzhen Rail Transport Co., Ltd which is one of only four rolling stock companies licensed to undertake metro projects in the PRC on a nationwide basis.