Midas (S$0.27) Yet to see light at the end of the tunnel in 1Q16; exiting Growth portfolio
-1Q net profit Rmb10m (-8.6%); 9% of full-year consensus estimate
-1Q revenue Rmb303.5m (-5.3%); lower sales of aluminimum alloy extruded products
-Bottom line also dragged by lower contribution from associates, higher staff costs, and taxes
-Failed to show strong growth in past 2.5 years despite Chinese government investment in rail sector
-Market Insight exit Midas from Growth portfolio at $0.27
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