RHB Group Research analyst Jarick Seet has maintained “neutral” on Venture Corporation (VMS) with an unchanged target price of $19.60.

While the group had anticipated that its workforce would be limited during the third round of Malaysia’s movement control order (MCO) from June 1 to 14, Seet deems VMS’s valuation to be high “at this point” with weak earnings potential.

“In May 2021, VMS’s business groups had anticipated the imposition of the 50% to 60% workforce limit per site,” writes Seet in a June 9 report.

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