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Midas Holdings Limited on Wednesday said its subsidiary, Jilin Midas Aluminium Industries Co Ltd, had secured two contracts worth a combined RMB123.4 million (S$24.3 million) to supply aluminium alloy tubings.
The move will strengthen Jilin Midas\' foothold in China\'s power industry, Midas said.
Xian XD Switchgear Electric Co Ltd and Xian XD High Voltage Apparatus Co Ltd awarded the contracts. The two contracts are valued at RMB100.3 million and RMB23.1 million respectively.
The contracts are expected to contribute positively to the group\'s financial performance for the year ended Dec 31, 2012 and 2013. Delivery for the orders is expected to take place between 2012 and 2013.
