Singapore’s Midas defaults on coupon payments for series 003, 004 notes

By Marisa Wong

Morgantown, W.Va., May 23 – Midas Holdings Ltd. said it is unable to pay the interest due on its series 003 and series 004 multicurrency medium-term notes.

Interest in the amount of $1.05 million was due for each series of notes on May 23.

Midas is a Singapore-based manufacturer of aluminum alloy extruded products for the rail transportation sector.

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