Venture

[winston]

From DBS:-

Venture has proven that it continues to execute well in a tough market. While not recession proof, Venture is financially strong and ready to take advantage of new opportunities and gain market share when competitors fail in this environment.

Stock is attractive at 5.8x FY09 PER and 0.4x P/BV. Venture also maintained its S$0.50 dividend, rewarding shareholder with a whopping 12% yield. Maintain BUY rating with TP of S$6.00.

[millionairemind]

The Mrs. was beating herself up for selling too early at 8.40 yesterday
Venture Corporation
July 30 close: $9.19
OCBC INVESTMENT RESEARCH, July 30

VENTURE Corp (VMS) will be reporting its Q2 2009 results on Aug 7 and after a very tough first quarter, VMS could likely provide a positive surprise in both its Q2 2009 revenue and bottomline, despite it being a traditionally slower quarter.

We note that the industry-wide inventory restocking activities have extended well into May, given the severe depletion in the supply chain in Q4 2008 and Q1 2009. In addition, we understand that VMS has continued to add new customers in its ODM (original design manufacturing) business. Hence we believe it should lead to further improvement in its profitability.

Another positive surprise could come from its CDO2 investment, which VMS had already almost fully marked down from the original $167.8 million to just $10.9 million as at end-Q1 2009.

We understand that the credit markets have thawed somewhat since then and we can expect potential write-backs from even as early as Q2 2009. However, we prefer to remain conservative and only adjust our numbers if/when it get its full investment back by end-December 2009. When it gets back the full amount, we believe that unless VMS has a pressing need for the funds, it could potentially pay it out as a special dividend that is worth at least $0.50 per share.

For the second quarter, we are expecting VMS to post a q-o-q improvement of 7.5 per cent in revenue and a jump of 14.7 per cent in net profit.

While we believe that the recession has bottomed, the road to recovery could still be a long and arduous one. As such, we will hold off adjusting our FY2009/2010 estimates until we see the Q2 results and get a better sense of its customers' outlook from management.

Meanwhile, the recent revaluation of the market has also led us to revise up our valuation for VMS, shifting from a very conservative FY2009 PER of 8 previously to a more upbeat blended FY2009/FY2010 PER of 12.5. This raises our fair value from $5.64 to $9.26. Coupled with an expected dividend yield of 5.8 per cent (not including a potential special dividend), we upgrade our rating from 'hold' to 'buy'.
BUY

[Aspellian]

Venture ran up supposedly on:
- market improvement and its revenue is mainly export oriented
- results coming out - expected to be good

prob drop today because profit taking or results expected to be bad?? could be due to write-offs /provision eg. bad debts, inventory, investment, valuations.

[helios]

Venture is scouting around for good technologies ...

[winston]

Not vested. From Kim Eng:-

Possible trouble on the horizon
Talk of HP revamping its printer supply chain in favour of Hon Hai earlier this year has gained credibility with the recent news that the two companies will build a US$3b plant in Chongqing to make laptops.

We estimate that HP’s OEM business accounts for some 30% of Venture’s Printing & Imaging revenue, which of late has accounted for above 40% of total revenue. If true, this could lop about 10% off FY10 revenue.

[winston]

VENTURE CORP - UBS has downgraded Venture Corp to "neutral" from "buy" as the stock as risen to near the Swiss bank's target price of S$9.30 a share.

Source: Reuters

[millionairemind]

November 11, 2009, 6.12 pm (Singapore time)

Venture's Q3 net income falls 4.7% to $38.2 mln

By ONG BOON KIAT

Venture Corporation has reported a 4.7 per cent drop in net profit to $38.2 million - or 13.9 cents per share - on a 3.9 per cent drop in revenue for its third quarter ended Sept 30, 2009.
Related links:

Singapore's largest electronics manufacturer achieved Q3 revenue of $927.8 million.

Net income and revenue for the first nine months of its current fiscal year came to $126.9 million and $2.50 billion respectively, against $162.1 million and $2.88 billion in the year-ago period.

Venture said a number of new deals have started to contribute to the group's revenue performance ahead of projection. Though revenue base of these new customers are still relatively small, it is expected to grow in the coming quarters.

[winston]

You may want to note that Aberdeen is reducing their stake ...

[helios]

Oh ...

[millionairemind]

April 29, 2010, 5.59 pm (Singapore time)

Venture posts 42.3% jump in Q1 net profit

By LYNETTE KHOO

Venture Corp posted a 42.3 per cent jump in net profit for the first quarter ended March 31 to $39.5 million, in the absence of fair value loss on derivative financial instrument.

But revenue for the quarter fell 11.9 per cent year-on-year to $639.5 million due to an anticipated paring down of the lower value-added portion of the Printing and Imaging (P&I) business.

The group said it will continue to devote efforts and resources to deepen and diversify its technical capabilities and extend its collaborative alliances with its partners to broaden its market access and penetration.

It had earlier declared a final dividend of 50 cents per share on a one-tier tax-exempt basis for the financial year ended Dec 31, 2009. The dividend will be paid on May 20.