Midas Holdings nabs four contracts worth RMB72.5m

It’s to supply aluminum for China and Malaysia trains.

Midas announced today that its subsidiary Jilin Midas has bagged four contracts totalling RMB72.5m. The deals are for aluminum alloy extrusion profiles supplies for metro trains in China and airport rail trains in Malaysia.

The first supply contract, worth RMB31.9m, is for the Lanzhou Metro. The other two supply contracts, worth RMB20m and RMB11m, are for the Nanchang Metro Line 2 and Wuhan Metro Line 2 respectively. The last supply contract, worth RMB9.6 million, is for the KLIA Ekspres and KLIA Transit trains which connect Kuala Lumpur city centre and the Kuala Lumpur International Airport.

The contracts are all awarded by Changchun Railway Vehicles and are slated for delivery in 2015 and 2016.

In the press release, Midas Executive Director and CEO Patrick Chew noted that the company is further venturing internationally, and in particular expanding its regional presence with contract wins in Malaysia and Singapore. The cumulative value of Midas’ recent contract wins the two countries currently exceeds RMB900m, and is bolstered by growth opportunities in China as well as across the globe.

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