Question 2 Based on the aricle below, t has always been companies aim to have afavourable receivables turnover ratio. Discuss different strategies that Midas Holdings can implement in order to reduce Its recelvable turnover in days 10 marka) HOT STOCK: MIDAS UP ON SS7.7 MILLION MARRIED DEAL Wed, JAN 24, 2018-11:11 AM SHARES of Midas Holdings- a maker of aluminium parts used in trains surged on Wednesday, following a S$7.7 million married deal of some 44 million shares at S$O.175 a piece, two traders told BT. The buyers and sellers remain unknown, the sources said The stock rose 1.1 Singapore cents to S$0.171 in early moming trading, or up nearty 7 per cent. More than 200 milion shares changed hands as at 11.24am. It was the most actively treded counter on the Singapore Exchange (SGX) on Wednesday moming. The trading volume on Midas on Wednesday is about five times its average three-month volume. This follows news earlier this month that Midas' associate company had dinched 268 billion yuan (S$552 million of new contracts. CRRC Nanjing Puzben, Rail Transport Co, in which Midas holds a 32.5 per cent stake, secured the contracts to supply metro train cars in China The first contract is worth 1.15 billion uan and was (Shenzhen) Co for the third phase of the Shenzhen Line 2019 and September 2020. by MTR Technology Consultation Delivery is set between February The second contract, for the first phase of the Hangzhou Metro Line 6 project, is worth 1.09 billion yuan. The third contract, worth 440 mitlion yuan, is for the Hangzhou-Eurana Inter-oity Metro Project. The second and third contracts were jointly awarded by Hanazou Mero Group Co and Hargzhou Hacafu Rail Transit Co Both contracts are due between September 2018 and August 2019 15 For the three months ended September 2017. Midas reporned that revenue rose 11.5 per cent to 458.5 milion yuan, and net profit rose 6.6 per cent to 24.1 mition yuan. Trade receivables, however, rose 8.7 per cent to 24 bilon yuan over the same period, crawing a query from the SGX. in response to the reguiator's esoons, idas said that average trade receivapes tur nover was 268 days as maor custone n Chins have been sow in payment since the raiway acodents in 2011 Extracted from The Business Times 24 January 2018 say-sources