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Venture Last:11.41

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Venture

dont worry... venture has a guardian angel :P

Wow, good time to load up quick just in case the US wants to roll out a QE3. Hehe!!

I feel this is a safe counter coz at least there is good dividend payout around 5.5%.

What happen to this counter? Now at $8.96....

I think is time for this counter to move up ...

Far far < Sgd..9.00

New123 ( Date: 06-Mar-2011 17:25) Posted:

Can anybody adv what is the intrinsic value for Venture?

Yes, what's wrong with this counter? It's down for 3 days.

Why Venture is down when the mkt is up?

a lot of meat to short for this one!

Venture Corp: More margin improvement in 4Q10

Summary: Venture Corp (VMS) reports its 4Q10 results last evening, with revenue falling 22.7% YoY to S$705.5m, or around 11.9% below our forecast, as revamp of its Printing & Imaging (P& I) business continues. And thanks to continued margin improvements, with gross margin back up around 23.3% (versus 16.4% in 4Q09) and the absence of any CDO revaluation losses, reported net profit surged 222.4% YoY to S$54.2m, though only 2% ahead of our forecast.

Going forward, VMS reveals that it is progressing well towards its vision of becoming a leading global provider of technology services, products and solutions, As before, we continue to be encouraged by VMS’ business transformation into an ODM player, which should bring the group to the next phase of growth. We also have confidence in its ability to execute and excel on its “blue ocean strategy”. We are leaving our FY11 estimates unchanged and keeping our 15x FY11F EPS fair value of S$12.10. Maintain BUY. (Carey Wong) iocbc

Credit Suisse recommends BUY with Target Price of $12.20

● Venture reported 4Q10 revenue of S$705.5 mn (-23% YoY) and

net profit of S$54.2 mn (+222% YoY). For FY10, revenue of S$2.7

bn (-22% YoY), and net profit of S$188.1 mn (+31% YoY), were in

line with our estimates.

● Growth was broad based, with nearly all segments reporting QoQ

sales improvement (up 1-34%), led by momentum in retail store

solutions/industrial products. The more favourable mix continued

to drive net margin improvement to 7.7% (from 7.2% in 3Q10).

● Management declared a S$0.55 final dividend, 10% higher than

previous payouts, and its first increase in four years. We believe

this is indicative of a more optimistic earnings outlook for Venture,

which was reaffirmed by the CEO. We have factored in stronger

margin estimates, and raised forecasts by 3-4%.

● Venture’s model remains fundamentally sound in our view, and

going forward, we see profitability driven by management’s focus

towards greater design content. Valuation remains compelling at

11x P/E, 6% yield and on a S$239 mn net cash balance sheet.

Our new target price, still pegged at 14x P/E, is S$12.20.

OUTPERFORM.

Good Luck

KIM ENG::::

Venture Corp (VMS SP, $9.45, BUY, TP $11.80) – Venture will report 4Q10 results next Wednesday, and the share price has retreated to an attractive trading level. We believe 4Q10 results are water under the bridge and the market will focus more on forward guidance. If all goes well, 2011 should be the first year of positive topline growth since 2007, barring a major US $ meltdown. Maintain BUY.

UOBKH recommends BUY with Target Price of $11.86

Profitable growth through high-value high-mix EMS

What’s New

 Venture is a global provider of electronics manufacturing services

(EMS) with production facilities in Singapore, Malaysia and China. It

services a diversified base of 163 active customers in five industry

sectors, namely, Printing & Imaging, Computer Peripherals & Data

Storage, Networking & Communications, Retail Store

Solutions/Industrial Products and Test & Measurement/Medical/Others.

 Profitable niche in high-value high-mix EMS. Venture focuses on

providing EMS for complex high-value high-mix products with high

engineering and design content. Original design manufacturing (ODM)

business has expanded from 15-20% to 30-35% of total turnover over

the past five years with efforts to grow R&D and acquisition of GES.

ODM business provides higher gross margin of 25% compared to 15-

18% for EMS with designs specified by customers. Its unique business

model enabled Venture to achieve a net margin of 7.2% in 3Q10, the

highest among the top-10 global EMS players.

 Differentiating through technology solutions. Venture has started to

provide complete technology solutions based on proprietary

technologies developed in-house. It plans to launch new products for

Printing & Imaging, Retail Store Solutions (smartcard for secured

financial transactions), Communications and Data Storage in 2012.

Management targets to grow technology solutions to more than 10% of

total turnover over the next five years.

 Potential rebound in Printing & Imaging. The exit from full

configuration inkjet printers has freed up resources, allowing Venture to

work with other potential new Printing & Imaging customers. Venture

has secured a medium-sized US-based partner which invented a new

print engine. Production for potential new Printing & Imaging customers

should commence in 1Q12. We expect revenue contribution from

Printing & Imaging to recover and expand 16.6% yoy to S$641.2m and

account for 20.1% of total turnover in 2012.

Stock Impact

 Re-initiate coverage with BUY. Venture provides a defensive play on

recovery in the technology sector due to its high-value high-mix business

model, consistently positive free cash flow, cash-rich balance sheet and

attractive dividend yield.

Earnings Revision/Risk

 Expect recovery in 2H11. A few customers have exercised caution in

their demand commitments lately. Thus, we expect Venture’s

performance to be lacklustre in 4Q10 and 1H11. However, we expect

Venture to benefit from a pick-up in corporate capital investment and IT

spending in 2H11.

 We forecast net profit to grow 10.8% and EPS of 74.1 cents for 2011.

Valuation/Recommendation

 Our target price is S$11.86, based on 2011F PE of 16x (Venture’s

average forward PE over the past 10 years is 16.6x). The stock also

provides an attractive dividend yield of 5.0%.

Share Price Catalyst

 We expect Venture to benefit from a pick-up in corporate capital

investment and IT spending in 2H11.

 New product launches for technology solutions in 2012.

 Potential new customers for Print & Imaging

Life Is Great

Venture Corp fair value raised to $12.10 by OCBC

Tags: Venture Corp | Venture Corporation

WRITTEN BY DOW JONES & CO, INC

TUESDAY, 07 DECEMBER 2010 16:04

/theedgesingapore/i come i read i post fyi only//

Venture Corp: Transforming into a solutions provider

Summary: After recently posting a fairly decent set of 3Q10 results, Venture Corp (VMS) expects to see sequential revenue growth going into its seasonally strong quarter, noting most of its customers have maintained their positive sentiment. In the medium term, VMS says it remains driven to achieving profitable growth, where VMS will continue to make a push for higher-margin ODM (Original Design Manufacturer) business; it also intends to build up its solutions/enterprise segment with its own IPs (Intellectual Properties). Besides being encouraged by the group’s business transformation into an ODM player, which we believe should herald a new era for the group, we also have confidence in its ability to execute and deliver on its “blue ocean strategy”. As we are rolling forward our 15x valuation from blended FY10F/FY11F EPS to FY11F EPS, our fair value increases from S$10.73 to S$12.10. Maintain BUY. Key risks include currency fluctuations (exposure to US$) and continued component shortages. (Carey Wong)

/ocbc ir/

i come i read i post.

Today is still a Good Day to Buy Venture.

Trading at $9.39.

Good luck.

alexchia01 ( Date: 01-Nov-2010 13:11) Posted:

Today is a Good Day to Buy Venture.

Business: Electronics Services Provider; Design, Test and Manufacture Electronic Devices; In Asia, Europe and America.

Now Trading at $9.21.

1. In an Uptrend Channel, with potential High of $10.00.

2. Just Bounded off its Support Level of $8.97. A Good Entry Time.

3. Price is moving Up to Cross MA30. Moving Towards Bullish Territory.

4. MACD lines are reversing and Moving Upwards.

5. Stochastic Lines have crossed and moving up too. Still in Oversold Region. This is a Good Time to Start Buying.

6. Revenue, Profit and Cash Flow for QoQ decline slightly, but still okay.

7. STI Turns Bullish Today. This is the Best Time to Start Buying.

Stop-Loss Below $8.97.

Target Price: $10.00.

More on my Blog at Alex Trades.

This is my personal analysis. You invest at your own risk.

Good luck to all.

got to be super daring to short lor.going against aberdeen asset. they just up their stake for venture

nickyng ( Date: 25-Jun-2010 10:32) Posted:

any daring soul joing me in SHORTING this burger !?!?! it is REalLY tempting now! :P hee....

Venture has been giving out 50 cents div year after year thus yielding at least 5% return p.a. even at current price. Tfore better long than short this strong performer

nickyng ( Date: 25-Jun-2010 10:32) Posted:

any daring soul joing me in SHORTING this burger !?!?! it is REalLY tempting now! :P hee....

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