NEWS RELEASE
MIDAS SECURES A RMB70 MILLION CONTRACT FOR ANOTHER
INTER-CITY HIGH-SPEED TRAIN PROJECT
- Awarded by Changchun Railway to supply a total of 240 train cars for the
“CRH5 EMU” project in PRC
- 5th contract for inter-city high-speed train projects secured in two weeks
Singapore, June 25, 2009 – Mainboard-listed Midas Holdings Limited (“Midas”) (麦达
斯控股有限公司) is pleased to announce today that its Aluminium Alloy Division, Jilin
Midas Aluminium Industries Co., Ltd (“Jilin Midas”) (吉林麦达斯铝业有限公司), has
secured a contract worth RMB70 million, to supply aluminium alloy extrusion profiles
for a total of 30 train sets (1 train set = 8 train cars), an equivalent of 240 train cars,
for the inter-city high-speed train “CRH5 EMU” project with speeds up to 250km/h.
Awarded by CNR Changchun Railway Vehicles Co., Ltd (中国北车长春轨道客车股份
有限公司), the contract will be fulfilled over the second half of 2009 to 2010, thus
having a positive impact on the Group’s financials over the financial years ending
December 31, 2009 and 2010.
Said Mr. Patrick Chew (周华光), CEO of Midas: “This latest contract is the fifth
contract we have secured for inter-city high-speed train projects in two weeks. Over
the past two weeks, we have secured contracts worth an aggregate value of
RMB845 million. We will continue to work very hard to pursue upcoming project
orders and capitalise on the rail infrastructure boom in the PRC.”