Midas Holdings Limited1 is an investment holding company. Through its subsidiaries, the Company manufactures aluminium alloy extrusion products and polyethylene (PE) pipes for the rail transportation and infrastructure sectors in the People's Republic of China. It has three divisions. The Aluminium Alloy Division produces aluminium alloy profiles that are used to manufacture train car body frames for use by high-speed trains, mass rapid transit and light rail transit trains. It produces aluminium alloy tubings for use in the power industry, and aluminium alloy rods and other specialized profiles that are used in the production of mechanical parts for industrial machinery. The PE Pipe Division manufactures and installs PE pipes for use in various types of piping networks, including gas piping networks and water distribution networks. The Agency and Procurement Division deals with the import, export and wholesaling of aluminium alloy, PE pipes, metal materials and other related products.
- CEO - Chew Hw Kwang, Patrick
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. The main divisions are:
- Aluminium Alloy Division - 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.
- Agency and Procurement Division - set up in November 2005 and 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, Midas 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.
Top 20 Shareholders
|Name||No. of Shares||Percentage|
|2||CHEW HWA KWANG PATRICK||109,211,800||12.92%|
|3||DBS NOMINEES PTE LTD||106,517,863||12.60%|
|4||CITIBANK NOMS S’PORE PTE LTD||87,945,982||10.41%|
|5||HSBC (SINGAPORE) NOMS PTE LTD||66,905,152||7.92%|
|6||UOB KAY HIAN PTE LTD||33,590,000||3.97%|
|7||DBSN SERVICES PTE LTD||33,325,670||3.94%|
|8||RAFFLES NOMINEES PTE LTD||32,912,486||3.89%|
|9||TOMMIE GOH THIAM POH||23,046,000||2.73%|
|10||DMG & PARTNERS SECURITIES PTE LTD||18,853,000||2.23%|
|11||MORGAN STANLEY ASIA (S’PORE) PTE LTD||14,365,708||1.70%|
|12||YAP CHONG HIN GABRIEL||10,620,000||1.26%|
|13||DB NOMINEES (S) PTE LTD||10,578,629||1.25%|
|14||CITIBANK CONSUMER NOMS PTE LTD||9,675,000||1.14%|
|15||CIMB-GK SECURITIES PTE. LTD.||8,930,000||1.06%|
|16||UNITED OVERSEAS BANK NOMINEES PTE LTD||4,271,000||0.51%|
|17||MERRILL LYNCH (S’PORE) PTE LTD||3,956,754||0.47%|
|18||OCBC SECURITIES PRIVATE LTD||3,901,000||0.46%|
|19||HL BANK NOMINEES (S) PTE LTD||3,600,000||0.43%|
|20||FOO LAI FUAN||3,000,000||0.35%|
- August 8, 2008 - Midas Q2 net profit up 21% at $8.56m2
MIDAS Holdings, which makes aluminium alloy extrusion products and polyethylene pipes, yesterday reported a 21 per cent increase in net profit to $8.56 million - up from $7.06 million - for its second quarter ended June 30.
Revenue rose 25.6 per cent to $38.5 million from $30.6 million on better business for its aluminium alloy division, which contributes about 80 per cent of turnover. Earnings per share rose to 1.01 cents, from 0.84 cents.