MIDAS secured Euro contract

The stock market is in endless turmoil now. Market is really sentiment driven now, rather than fundamental driven. We keep hearing contradicting comment from different analyst, fund manager and experts. So, do be clear of your investment objective and game plan, before dive into any purchase or sale.

MIDAS share price has fallen a lot. From the chairman incident to current credit crisis, it just keep falling. However, I do believe the fundamental is still improving. The new contract might come slower now, but as long as the company show distinct competency, investor should be still alright.

In recent announcement,

Contract awarded by Alstom Transport (“Alstom”) to supply 140 Tram Sets for the RS-Citadis Project

The company has tie up with Siemens and this new contract further show the quality of its product. Base in low cost location like China and with the European quality, I really see a great future for the company.

Within China, the various tie up and joint venture should enable the group to get more government contract. China is planing for big spending on railway, the future is going to be brighter. Outside China, the group is slowly penetrating into Euro market. This should serve as diversification.

I don't have figure and figure at the current climate seems mean nothing. New contract might be slowing, loan might be harder to get. The only comforting part for investor is the company is still making progress of supplying product for more and more companies.