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can Venture ever be re-elected back to STI components stock???
will wait for the day!!!
when HP relocate, venture to lose all the business with them?
cheonging, gd uptrend
time for some windfall after stocking up from the last few weeks of downtrend:)
ok....i think it has dropped quite substantially for a while....looks attractive now? :P
hehe...waiting to spread the net:)
this is the beginning of its new DOWN TREND ! :D
been getting down past few weeks
Venture move up so much today....always pay good div.
| Updated: 7th August 2009, 1856 hrs |
| Venture Q2 net profit down 7.1% |
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Mainboard-listed contract manufacturer, Venture Corp, has posted a 7.1 percent drop in second quarter earnings to 60.9 million dollars, from a year ago. This was on the back of a 13 percent decline in revenue for the three months ended June to 846 million dollars. Compared to the first quarter however, Venture's net profit more than doubled. This was mainly due to a pick-up in demand for several products as well as improvement in market share. The company says sales of all its product segments, except Test & Measurement improved during the quarter. But sentiments of its customers remained mixed and divergent. Venture says it'll continue to focus on operational excellence, differentiation and innovation to enlarge its market share, penetrate new markets and win new business. The company has in recent months added several new customers and projects across all its business segments. And it expects these new programmes to contribute to its performance starting next year. |
Next to 'cheong' after Creative.
Venture Corporation (DBS 22nd July 2009 )
Stronger momentum boosts upside
• Seasonality buildup will drive quarterly sequential growth until 4Q09.
• Full turnkey will compress margin near term but create value for the long term.
• Upgrade to Buy with revised TP of S$9.40. In tandem with a higher profit forecast and a rollover to
average valuation peg of 15x PER
average valuation peg of 15x PER
Slowly climbing up.
Any idea how is it going for this one?
Business Times - 05 May 2009
Venture may be down but it's far from being out
By OH BOON PING
HOW the mighty have fallen. Last week, Singapore's largest electronics maker Venture Corporation continued to report plunging profits - this time by as much as 50 per cent to $27.7 million for the first quarter of 2009, while revenue sank 23 per cent to $725.5 million - a far cry from the consistent income and revenue growth the company posted in earlier years.
But more than just the poor showing is the fact that investor interest in the stock has markedly waned. Since December last year, for instance, major shareholder Franklin Resources has pared its stake from 7.87 per cent to 4.94 per cent.
And at the first-quarter results briefing, there were noticeably fewer analysts present, and even fewer reporters, compared with previous briefings. Then, the conference room would be packed with some 20 or so analysts together with five or more financial reporters. No longer.
The reversal of fortunes is not surprising given that technology stocks today no longer command the attention that they used to enjoy.
The tech bubble burst in 2001 brought about a plunge in the sector's valuations to single-digit levels, and this later attracted a wave of private equity takeovers amid a liquidity-flooded market.
As many of the value stocks were taken off the Singapore Exchange, a number of research houses also scaled back on their coverage of the sector.
In Venture's case, its fortunes took a dive alongside the crash in the sub-prime housing market, when the group booked losses from writing down its collateralised debt obligations, worth some $118.6 million. That later prompted some analysts to urge caution on the stock, while others said that there were 'hidden gremlins' in Venture's balance sheet.
The flagship of Singapore tech sector was dealt a further blow when it lost its status as an index stock under the revised Straits Times Index, which led to the stock falling out of the investment radar screen.
However, all is not lost since the company appears to have turned the corner, with fundamentals remaining sound.
At the first- quarter briefing, chief executive Wong Ngit Liong pointed out that some customers' forecasts improved during the quarter, and this implies that these players could have over-reacted to the economic downturn and are now restocking their channels.
Near term, monthly orders continue to improve after bottoming out during the first two months of 2009, and sequential improvements could continue in the coming quarters.
Plus, the management has rightly chosen to focus on value creation for its customers, instead of cutting prices to grow its market share.
Despite the higher inventory levels, its balance sheet continued to improve both sequentially and on a year-on-year basis. For example, net cash rose to $304 million despite repayment of some $37 million in borrowings during the period.
However, one thing the company should take note of is its disclosure standards.
In the past, the group used to provide a breakdown of its revenue among key segments and their year-on-year changes, but such information is no longer available in its stock exchange filings.
This is a step backwards, and if Venture is serious about reviving investor interest and confidence in the stock, it should seriously consider releasing such information to the market again.
Failure to do so is not just against the spirit of good disclosure, but it also adds to rumours and loose talk.
Venture may be down but it's far from being out
By OH BOON PING
HOW the mighty have fallen. Last week, Singapore's largest electronics maker Venture Corporation continued to report plunging profits - this time by as much as 50 per cent to $27.7 million for the first quarter of 2009, while revenue sank 23 per cent to $725.5 million - a far cry from the consistent income and revenue growth the company posted in earlier years.
But more than just the poor showing is the fact that investor interest in the stock has markedly waned. Since December last year, for instance, major shareholder Franklin Resources has pared its stake from 7.87 per cent to 4.94 per cent.
And at the first-quarter results briefing, there were noticeably fewer analysts present, and even fewer reporters, compared with previous briefings. Then, the conference room would be packed with some 20 or so analysts together with five or more financial reporters. No longer.
The reversal of fortunes is not surprising given that technology stocks today no longer command the attention that they used to enjoy.
The tech bubble burst in 2001 brought about a plunge in the sector's valuations to single-digit levels, and this later attracted a wave of private equity takeovers amid a liquidity-flooded market.
As many of the value stocks were taken off the Singapore Exchange, a number of research houses also scaled back on their coverage of the sector.
In Venture's case, its fortunes took a dive alongside the crash in the sub-prime housing market, when the group booked losses from writing down its collateralised debt obligations, worth some $118.6 million. That later prompted some analysts to urge caution on the stock, while others said that there were 'hidden gremlins' in Venture's balance sheet.
The flagship of Singapore tech sector was dealt a further blow when it lost its status as an index stock under the revised Straits Times Index, which led to the stock falling out of the investment radar screen.
However, all is not lost since the company appears to have turned the corner, with fundamentals remaining sound.
At the first- quarter briefing, chief executive Wong Ngit Liong pointed out that some customers' forecasts improved during the quarter, and this implies that these players could have over-reacted to the economic downturn and are now restocking their channels.
Near term, monthly orders continue to improve after bottoming out during the first two months of 2009, and sequential improvements could continue in the coming quarters.
Plus, the management has rightly chosen to focus on value creation for its customers, instead of cutting prices to grow its market share.
Despite the higher inventory levels, its balance sheet continued to improve both sequentially and on a year-on-year basis. For example, net cash rose to $304 million despite repayment of some $37 million in borrowings during the period.
However, one thing the company should take note of is its disclosure standards.
In the past, the group used to provide a breakdown of its revenue among key segments and their year-on-year changes, but such information is no longer available in its stock exchange filings.
This is a step backwards, and if Venture is serious about reviving investor interest and confidence in the stock, it should seriously consider releasing such information to the market again.
Failure to do so is not just against the spirit of good disclosure, but it also adds to rumours and loose talk.
2Q09 outlook cautiously improving. Although management expects 2009 to remain challenging, it also noted that it has seen some improvements in some customers’ forecasts; this has already resulted in monthly improvement in sales since late Feb. VMS will continue to pursue growth through addition of new customers, which we understand will be through its ODM projects – management revealed that there were >25 such projects under development and has made entry into the aerospace sector with a reputable new customer. In the longer term, it targets to develop as many as 10 solution enterprises from its existing operations (mainly those in product marketing and distribution channels) - to enhance its value creation.
Potential CDO writebacks. VMS has already almost fully marked down its original S$167.8m CDO2 investment to S$10.9m, and should credit markets improve, we can expect potential writebacks in the next few quarters; however, we prefer to remain conservative and only adjust our numbers if/when it get its full investment back by end Dec. Meanwhile, we believe our FY09 estimates already reflect the still uncertain environment and we will leave them intact until we see more concrete signs of recovery. As such, our fair value remains at S$5.64 (based on 8x FY09F PER). As the stock has run up nearly 25% since our upgrade in March, and the current price exceeds our fair value by 4.7%, we downgrade our rating to HOLD; but we still think that the company remains fundamentally sound and its S$0.50/share dividend payout remains sustainable (8.4% yield).
No other better reason than BBs were around, likewise for d bank, esp UOB, counters n heavy duty ppty stock, just kena push to chiong. What next 2 morrow?
Shortists attributed to d px, esp during show time where buying in activities were intense. D most prominent ones is UOB, look at it last Fri n today last an hr trading, madness loh. BTW, BBs still hv plenty of bullets bought in cheap cheap ones.
NicholasFong ( Date: 16-Mar-2009 16:47) Posted:
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Anybody know what Venture shot up to 4.8+ today. More than 10% hike within a day. Amazing.
I guess CD of Venture will only appear after the Annual General Meeting on 24 Apr 09 as the proposed Dividend still haven't get the approval. Proposed Div pay date is on 26 May 09.
No diff, paper work only. Once its AR is audite n printed dready for distribution for d coming AGM/EGM, CD prefix definitely will be at SGX page, likewise for other stocks.
To date there were hundred over coy had announced their respective FY result, but u still would't see its stock prefix, ie Golden Agri for Bonus Issue, but alrdy got stock heated up liao.
Brother, jangan tension, relax lah. Today is Fri leh. Cheers.
NicholasFong ( Date: 06-Mar-2009 09:49) Posted:
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