Midas

Secured a RMB 59m contract from long time customer, CNR Changchun Railway, to supply aluminum alloy extrusion profiles for 20 train sets (or 160 train cars) for the intercity high-speed train “CRH5 EMU” project in the PRC. Delivery is slated for 2010and likely to have positive impact on FY10 earnings. Midas’ order book now stands at RMB 1.5bn. Trades at 22.2x PE. DMG has BUY call with $1.28 target.