Midas Holdings Limited Announces Default on Interest Payment of Series 003 and Series 004 Multicurrency Medium Term Note

Midas Holdings Limited is a Singapore-based investment holding company. The Company's principal activities include the manufacture of aluminum alloy extruded products for use in transport, power and other industries, and polyethylene (PE) pipes for gas and water distribution networks. The Company's segments include Aluminium Alloy Extruded Products Division, PE Pipe Division, and Aluminium Alloy Plates and Sheets Division. Its Aluminium Alloy Extruded Products Division is engaged in the manufacturing and sale of aluminum alloy extrusion products for the passenger rail transportation sector in the People's Republic of China (PRC) and international markets. Its PE Pipe Division is engaged in the manufacturing and sale of polyethylene pipes. It manufactures various parts required in a piping network, including pipes, joints and fittings. The Aluminium Alloy Plates and Sheets Division is engaged in the manufacturing and sale of aluminum alloy plates and sheets.