Midas

Midas: Counter will be a beneficiary of China's accelerated construction on its Central-Western railway. Previously, funding was the key issue on investors' unfavourable liking to the sector. With the issue gradually being removed coupled with Midas' positive order flow in 1H13, counter could see renewed interest by investors going ahead. Chinese Premier Li Keqiang said the nation will speed up railway construction with a focus on the central and western parts of the country, adding support for an economy that’s set to expand at the slowest pace in 23 years. China will set up a railway development fund with fiscal revenue and public investment, and the government also plans to grant ownership and operating rights on some city and regional railways to local government and private investors.