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Venture Corporation Limited (SGX: V03)

Venture is an electronic services provider employing more than 12,000 staff with capabilities spanning innovation, design and development, and process engineering, among others.

The group serves a wide clientele in domains such as life sciences, genomics, medical devices, and luxury lifestyle, to name a few.

For 2022, the technology group reported a 24.3% year on year jump in revenue to S$3.9 billion along with an 18.4% year-on-year increase in net profit to S$369.6 million.

The board declared a final dividend of S$0.50, taking the total 2022 dividend to S$0.75, unchanged from a year ago.

For the first quarter of 2023 (1Q 2023), Venture saw revenue dip by 7.6% year on year and net profit slide by 12.4% year on year as the semiconductor industry was caught in a cyclical downturn.

Despite this, the group had S$920.2 million of cash on its balance sheet as of 31 March 2023 with zero borrowings.

Management expects new product introductions to drive growth in the months ahead, and Venture should also benefit once the upturn comes when supply and demand reach equilibrium.

Venture also announced a restructuring in May to form two distinct business groups, each led by a CEO, to better distinguish and deepen the focus for each division.