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Getting back on track

As Midas recovers with China's railway sector, it is diversifying to mitigate risks, reports CAI HAOXIANG

MIDAS Holdings' recovery, which has been brewing for some time, is finally showing on its accounts.

"Our third quarter results were respectable. It's very clear that there has been a turnaround. The worst is over," states CEO Patrick Chew unequivocally in an interview with The Business Times last Friday, a day after the company - which makes aluminium parts for trains - reported that it swung to a net profit of 16.4 million yuan (S$3.4 million) from a net loss of 6.1 million yuan a year ago.

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