Company Briefs: Midas Holdings

Midas Holdings

Train aluminium body maker Midas Holdings has won two metro train car supply contracts worth 1.77 billion yuan (S$369 million) in all. A 1.05 billion yuan supply contract was awarded by Changzhou Rail Transit Development.

The second contract worth 720 million yuan was awarded by Xuzhou Rail Transit Line One Investment and Development. Midas has a 32.5 per cent stake in CRRC Nanjing Puzhen Rail Transport.

Rex International Holdings

Rex Oman, an indirect wholly owned unit of Rex International Holdings, has subscribed to 20,000 new shares of Masirah Oil for US$400 (S$580) a share.

The total amount of US$8 million was a capital injection necessary for Masirah Oil to pursue its drilling activities, continue operations in Oman and for its general working capital, it said. Rex Oman now holds 85.15 per cent of shares in Masirah Oil.

Willas-Array Electronics

Willas-Array Electronics said a striking-out summons applied for by its associated firm, GW Electronics, was dismissed by a Hong Kong court.

Toshiba Electronics Asia alleged that GW Electronics had an outstanding amount of about US$15.3 million (S$22 million), and applied for a winding-up petition. The summons was to strike out the petition, which will be heard next Monday.

A version of this article appeared in the print edition of The Straits Times on January 04, 2017, with the headline 'Company Briefs'. Print Edition | Subscribe