SINGAPORE (Nov 23): Shares of Midas Holdings continued to tumble on Thursday, falling 11.8% to 15.7 cents as at 4.21pm. Since closing at 21.5 cents on Nov 13, the stock has shed over a quarter of its market value.

The plunge comes after reports last week that another city government in China has jammed the brakes on railway projects worth billions of dollars amid tightened scrutiny from Beijing.

China is the primary market for Midas, which manufactures aluminium alloy extrusion products for the rail transportation sector.

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