Diversification, the Midas curse
Midas Holdings, maker of aluminium products and train car bodies, is paying a price in its desire for new revenue sources
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
TO understand China's Old Economy problems, one just needs to examine the S-chips in Singapore's backyard.
The latest company falling foul of investor patience is Midas Holdings, a train car body maker founded in 2000 by Patrick Chew, a Singaporean businessman with a rags-to-riches story, and a Chinese partner, Chen Wei Ping.
Shares have slumped a third in just a few weeks to S$0.14 a share, a historic low. The company is now trading at just one-third of book value, at a historical earnings multiple of under 10 times.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Japan stocks look set for new highs in 2025 on earnings, reform
Beijing’s calculated silence on the Iran war
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
