Venture Corp

Venture Corp posts 27.5% drop in 3Q earnings to $80.8 mil on lower revenue

SINGAPORE (Nov 2): Venture Corp reported a 27.5% drop in earnings to $80.8 million for the 3Q ended September, from $111.4 million a year ago, on the back of lower revenue.

3Q18 revenue fell 27.4% to $770.4 million, from $1.06 billion a year ago.

The decline was mainly attributable to the impact arising from customers’ planned transition to new replacement products and some customers’ M&A activities for the reported quarter.

As at end Sept, cash and cash equivalents stood at $714.2 million.

Venture still has much to gain amid healthy outlook

SINGAPORE (June 6): Maybank Kim Eng Research is keeping its “buy” call on Venture Corp with an unchanged target price of $28.83 amid healthy revenue forecasts among its customers.

“We believe Venture remains a beneficiary of economic upcycle and multifaceted secular growth drivers,” says Lai Gene Lih in a report on Monday.

According to Lai, 10 out of Venture’s 16 well-known customers beat Street estimates in 1Q18, and 12 have raised or reaffirmed their guidance.

Consensus revenue for most of these customers have also been raised for FY18/19, he adds.

This meteoric tech stock has come crashing back to earth

SINGAPORE (May 9): After a spectacular rise for two years, Singapore’s biggest technology company is suddenly returning to earth.

All eyes in the country’s financial community have been on Venture Corp., an electronics stock that more than tripled since April 2016 to become -- at one point -- a US$6.5 billion firm. So meteoric was its advance that Venture became the only technology company listed on Singapore’s blue-chip 30-member Straits Times Index.

From best to worst, Singapore's top stock is no longer No. 1

SINGAPORE (Apr 26): Venture Corp., which was Singapore’s best performing stock in 2018 until this week, has lost almost a third of its market value in just five days.

The combination of a weak earnings outlook by key customer Phillip Morris International Inc., report of short selling, and its own results yesterday that failed to impress sent bulls scurrying. Shares of the electronics services provider have lost 27%, or $2.24 billion of its market capitalisation, since April 20, and it’s the worst performer on the Straits Times Index Thursday.

Singapore stock strategy by CIMB after an uneventful earnings season

SINGAPORE (Mar 5): DBS's windfall dividend was the most "exciting" event over the two months of earnings reporting, says CIMB, given 4Q17 was not an impressive quarter for Singapore stocks.

However, CIMB is still "overweight" on banks gong forward as they seem most defensive, trading at mean of CY18 1.35 times P/BV with 11.3% ROE.

The banks have also cleaned up their oil & gas loan book under new reporting rules FRS 109.

Portfolio sees mixed results over recent reporting season

SINGAPORE (Dec 11): The recent results season has seen mostly positive numbers from the 16 companies in our portfolio that reported results in the quarter ending Sept 30. Nine reported earnings growth in the recent quarter, while five saw their earnings decline and two reported losses.

The biggest increase in earnings came from property developer UOL Group, which reported a 609% y-o-y increase in earnings for 3QFY2017 ended Sept 30. The better-than-expected performance was due mainly to the recognition of negative goodwill on an acquisition.

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Analysts keep Venture at 'buy' after stellar 3Q results

SINGAPORE (Nov 6): Venture Corp on Friday announced its 3Q17 results, posting earnings more than double to $111.4 million from $47.4 million a year ago.

This was attributed to a strong growth in revenue, value creation through R&D capabilities, cost management, and operational excellence.

Revenue was up 50.5% to $1.06 billion compared to $705.7 million last year, due mainly to progress across several strategic and operational imperatives, including strong execution of customers’ programmes and deepening of collaborative strategic partnerships.

Venture, Sarine, SGX bear watching as results season approaches

(Oct 23): As another reporting season approaches, market sentiment towards some of our holdings is riding high. Strong earnings reports for 3QFY2017 could quickly push some of these stocks higher, but any disappointment could lead to an ugly sell-off.

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Venture Corp kept at 'add' with higher target price of $20.87

(Oct 4): CIMB Research is keeping Venture Corp at “add” with higher target price of $20.87 after raising its earnings per share and price earnings multiple to reflect Venture’s strong order momentum from its customers.

In a Tuesday note, analyst William Tng says Venture, the global provider of technology services, products and solutions, has always been focused on profitability and has never incurred losses since its listing in 1992.

Optimism over Cogent’s new bet on student housing

(Sept 18): This past week, one of our Portfolio companies had attracted some attention over a new business venture. On Sept 7, logistics services company Cogent Holdings announced that it has been awarded a three-year lease tender by the Singapore Land Authority (SLA) to run a student hostel near Holland Village. The property is just 700m from ACS International, a popular local independent secondary school. Shares in Cogent have surged 4.4% since the announcement, closing at 83 cents on Sept 12.

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