Y Ventures Group (YVEN)

DBS suspends coverage of Y Ventures after restatement of 1H18 results on admin errors; Group now expects FY18 loss

SINGAPORE (Jan 28): DBS Group Research is suspending coverage of Y Ventures Group until a sustainable improvement in revenue and earnings can be delivered.

In a filing on Jan 21, Y Ventures reported it had made certain inadvertent administrative errors in the 1H18 results that was published in August 2018.

The administrative lapses were mainly related to overstatement of “Inventories”, “Property, plant and equipment” and “Revenue” and understatement of “Trade and other receivables”, “Cost of sales” and Administrative expenses” as at 30 Jun 2018.

Y Ventures' stake reduction in Aora ICO seen as positive by analysts

SINGAPORE (Oct 30): DBS Group Holdings and UOB KayHian see Y Ventures Group’s reduced 20% stake in a JV company for the development of the Aora platform and the ICO (Initial Coin Offering) of Aora Coins as a positive move, given the uncertainties linked to the ICO process.

To recap, Y Ventures will receive $400,000 in cash from its JV partner for the smaller stake. The JV will also repay all loans, debts and other amounts due to Y Ventures.

Y Ventures started at 'add' as proxy to Big Data, e-commerce

SINGAPORE (May 28): CGS-CIMB Securities is initiating coverage on Y Ventures Group (YVEN) with an “add” recommendation and a target price of 62 cents, representing an upside of close to 25% from its current trading price.

“YVEN is a proxy to rising e-commerce and big data trend with a turnaround story,” says analyst Colin Tan in a report on Friday.

The Singapore-based data analytics-driven e-commerce retailer and distributor currently has a presence in more than 20 online marketplaces globally, including Amazon, eBay, Qoo10, and Lazada.

How should Singapore adapt the Goods and Services Tax for the e-commerce era?

SINGAPORE (Mar 12): On March 5, Catalist-listed e-commerce player Y Ventures Group announced that it was developing a new platform focused on cross-border purchases. Called AORA, the platform will function as a global buying concierge for Asian consumers. Y Ventures also signed a memorandum of understanding with logistics provider Singapore Post to explore “developing a world-class e-commerce platform with reliable last-mile delivery services”.

UOB Kay Hian starts Y Ventures at ‘buy’ with explosive growth expected

SINGAPORE (Aug 22): UOB Kay Hian is initiating coverage on e-commerce company Y Ventures Group (YVEN) with a “buy” call and a target price of 28 cents.

“Investors can look forward to explosive growth while being rewarded through dividends,” UOB’s Singapore research team says in a retail report on Tuesday.

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