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'New chapter of growth' unfolding for Grand Venture Technology: CGS-CIMB

Atiqah Mokhtar
Atiqah Mokhtar5/25/2021 03:48 PM GMT+08  • 2 min read
'New chapter of growth' unfolding for Grand Venture Technology: CGS-CIMB
CGS-CIMB has raised its TP for Grand Venture Technology from 60.5 cents to $1.12.
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CGS-CIMB analyst William Tng is decidedly optimistic on Grand Venture Technology following the release of its 1QFY2021 ended March business update.

Noting that it’s the first voluntary update that Grand Venture Technology has provided since listing in January 2019, Tng highlights the company’s 435% y-o-y growth in net profit to $3.3 million, representing 41.1% of Tng’s full-year estimates.

The stronger net profit followed revenue growth of 59% y-o-y on the back of better performance of its semiconductor segment (+68.5% y-o-y), life sciences segment (+38.4% y-o-y) and the electronics, medical & others segment (+42.2% y-o-y).

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