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Joelton
Supreme |
07-Sep-2023 10:52
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Venture Corp makes rare buybacks Credence Capital exits XMH Holdings
Venture Corp, facing pressure from an ongoing slump in demand, recently bought back shares for the second time in a month as its share price reached a one-year low. On Aug 31, the blue-chip contract manufacturer acquired 25,000 shares on the open market for a total of $317,310.70 or $12.68 each.
Earlier this month on Aug 7, Venture acquired 100,000 shares at $13.92 each. This brings the total number of shares bought back under the current mandate to 125,000 shares, equivalent to 0.043% of the share base.
Before August, the most recent buybacks were made on March 3 when Venture acquired 40,000 shares at $16.92 each and on Nov 30 last year when it acquired 11,000 shares at $17.20 each.
Venture&rsquo s significant shareholders have been in the market too. On Aug 30, Schroders acquired 2,100 shares for $27,300 or $13 each, bringing its stake to 17.45 million shares or 6% of the company. This follows a sale of 300 shares on Aug 23 for $4,008 or $13.36 each. Separately, BlackRock on Aug 31 sold 635,111 shares for just over $8.33 million or $13.11 each, lowering its interest to 14.23 million shares, equivalent to 4.89% of the company.
On Aug 4, Venture reported earnings of $140 million for 1HFY2023 ended June, down 19.7% y-o-y from $174.3 million. Revenue in the same period was down 11.9% y-o-y to $1.58 billion.
The company attributes the poorer showing to a high base last year and softening demand across the majority of its technology domains and customers&rsquo inventory destocking.
Despite lower earnings, Venture has maintained its interim dividend at 25 cents per share, backed by healthy cash and equivalents of $895.6 million as at June 30, higher than the $812.6 million recorded as at Dec 31 2022.
In its earnings commentary, Venture says it has taken steps to work on several new initiatives to drive revenue, profitability and improve its working capital. These include working with customers and partners who are &ldquo de-risking&rdquo out of a geographic presence into Venture&rsquo s Southeast Asian manufacturing sites as well as its supplier base. By doing so, Venture expects to capture more market share quickly.
Fund makes an XMH exit
Credence Capital on Aug 31 sold its entire stake of 20.92 million shares in XMH Holdings for $7.32 million or 35 cents each via a married deal. Credence Capital, a fund managed by individuals including private investor Koh Boon Hwee, first invested in XMH back in May 2013 when it subscribed for $10 million worth of shares at 27.74 cents each. According to filings, some of the shares sold by Credence Capital were bought by Tan Tin Yeow, chairman and managing director of XMH.
According to filings, Tan made a series of transactions between Aug 29 and Sept 5, buying shares from both the open market and via married deals. For example, on Aug 29 and Aug 31, Tan acquired 165,000 shares at 31 cents each on the open market and 5.23 million shares at 35 cents in a married deal respectively.
Most recently on Sept 5, Tan acquired 348,700 shares at 35 cents each. He now has a total interest of 49.56%.
In 2HFY2023 ended April 30, XMH reported earnings of $2.9 million, up 49.2% y-o-y from $1.93 million. Revenue in the same period was up 83.1% y-o-y to $70.7 million. In line with higher earnings, XMH plans to pay a final dividend of 0.25 cent plus a special dividend of 1.25 cents.
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Lobster
Elite |
04-Jan-2022 15:14
Yells: "Even Adam Khoo believes in the Black Market!" |
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You are not only a low class loser, you are a balless sissy... you want to use vulgarity to hit another person, but dare not, as in no balls , to do it openly. Now you claim the word could mean another meaning... why so gutless? Why then was the thread locked? Come on, Be a man, be a tiger if yoy are gaming for a fight instead of hiding behind your cursings. Because That' s all you can do because you got no standard to debate with any one. All you can do now is copy and paste nonsensical news which has nothing to do with the stock... at least I have done everyone here a service, that is stop you from attacking handsome Wong and his mighty Venture needlessly.....
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tongphlp
Supreme |
04-Jan-2022 09:56
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DYODDDBS 2022 Outlook and Strategy: Re-opening, Recovery and RestructuringWe start the new year with a 2022 outlook & strategy report. Have a good read. - A more resilient reopening and earnings recovery above pre-COVID supports end-2022 STI target of 3,550 - Go for reopening beneficiaries and earnings recovery while diversifying into structural growth themes - Eventful year ahead for value unlocking and M& A Broadening services recovery Singapore& rsquo s 2022 GDP is expected to grow 3.5% while inflation averages 2.4%. 2022 is the year where investors juggle between a more resilient transition to living with COVID while the economy faces uncertainties from inflationary pressure, higher interest rates, uncertainty about China& rsquo s growth, and domestic policy risks. Growth in the manufacturing sector should normalize while that for the services sector broadens as the economy reopens. Policy risks beyond the latest property cooling measures are GST hike and a possible wealth tax. Earnings to recover above pre-COVID Stocks under our coverage are expected to register strong +17.7% y-o-y EPS growth in FY22F as both domestic and international borders restrictions ease. The high teens earnings growth comes despite the higher-base from the snap back +58.5% y-o-y FY21E EPS recovery. FY22F earnings is 12% above the FY19A pre-COVID level. While the FED now sees 3 interest rate hikes next year, we observe that equities tend to perform positively at the start to middle phase of a rate hike cycle so long as it is supported by growth. Our end-2022 target of 3550 is pegged to 13.2x (ave) FY23F PE and implies a 13% upside. Reopening, recovery, and structural growth The Omicron setback is temporary, reopening is inevitable. Most reopening stocks have priced in up to a 6-month delay. Our picks are SATS, ART, CDREIT, FEHT, CICT, FCT, and CD. We see earnings turnaround going beyond the reopening related sectors. Downstream technology firms Venture and Nanofilm will benefit from the gradual easing of the semiconductor shortage from 2Q22. AEM is the only upstream technology player that should register stronger y-o-y growth for FY22. We advocate that investors diversify to include structural trends such as digital transformation and sustainability drive. Semiconductor stocks UMS and Frencken are supported by demand for electronics, 5G transition and new-tech developments. SCI plans to quadruple its renewable energy portfolio by 2025 while ST Eng expects its smart city revenue to more than double by FY26. Restructuring trend catches on 2022 looks to be an eventful year for value unlocking with companies such as ThaiBev, YZJ Shipbuilding, SingTEL, City Dev and Tuan Sing planning spinoffs or listings for their units. M& A activities could be brisk starting with Keppel Corp& rsquo s O& M business and SMM possibly completing their merger. ST Eng is seeking to acquire TransCore Partners for c.US$2.7bn that will position the Group as a market leader in Smart Mobility. The potential listing of SPACs on the Singapore Exchange could drive increased trading volume for SGX. Singapore banks (UOB, OCBC) may seek to acquire Citi& rsquo s consumer businesses. SREITS could see a year of bustling M& A activity with CDREIT expanding its investment mandate and Lendlease REIT potentially upping its stake in JEM. |
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tongphlp
Supreme |
01-Jan-2022 16:13
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f = ? fish find U r f dirty minded to think it is a bad word? It' s all in your mind!
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tongphlp
Supreme |
01-Jan-2022 16:11
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May u lose all your $$.
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tongphlp
Supreme |
01-Jan-2022 16:10
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Lobster - hope you have year that is worst than last. Because of you the thread got locked. GTH!
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Lobster
Elite |
01-Jan-2022 13:13
Yells: "Even Adam Khoo believes in the Black Market!" |
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why? No more vulgarity and cursings others? scared your thread kenna locked? Really low class loser. Ya, juz keep on copy and paste from SGX Research and new media and talk to yourself, and don' t disturb others, because you got no standard to debate with others!
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tongphlp
Supreme |
01-Jan-2022 09:50
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One of the worst performers on SGX bourse. With chip supply shortage and IQOS issue, worst is yet to come. DYODD!
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tongphlp
Supreme |
28-Dec-2021 07:29
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tongphlp
Supreme |
26-Dec-2021 10:35
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At least 10 major Singapore companies have new chiefs this year THIS year saw a bumper crop of at least 10 major companies in Singapore shaking up their top leadership with changes to their chief executive officer (CEO) postings. The list of companies includes Temasek Holdings, Singapore Telecommunications (Singtel), OCBC, Singapore Post (SingPost), Sats, StarHub, Venture Corporation, Nanofilm Technologies Venture Corp The electronics manufacturing services firm announced on Nov 5 that its chief operating officer (COO) Lee Ghai Keen, 66, will take over from Wong Ngit Liong, 80, as CEO from Jan 1, 2022. The changes are in line with Venture Corp' s plans to deepen its participation in selected technology domains such as life sciences, healthcare, genomics, robotics, automation, artificial intelligence and semiconductor-related equipment, the company said. Wong will, however, stay on as executive chairman of the board and continue to provide stewardship and strategic direction to the board, while remaining " accessible" to share his industry experience with Lee. Shares of the counter closed at S$18.16 on Thursday, at the lower end of its 52-week range of S$17.37 to S$20.79.
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wait4opp
Master |
20-Aug-2020 09:26
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With the Tech bubbles are blowing too high......Venture is running up super fast..... Will it be the next target to sell down by SSHs like Wilmar.......HIGH CHANCE Leh |
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interfact
Senior |
14-Aug-2013 13:50
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Despite results missing expacations, investors could have taken comfort that the qtr was an improvement versus its disatrous 1Q13 performance, while gross margins also improved slightly. At current price, the counter has a div yield of ~7% which is rather attractive. | |||||||||
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Octavia
Supreme |
14-Aug-2013 09:43
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Results were below consensus, although the grp saw an improvement from its last qtr performance, with net profit at $30m (-11% y/y, +7% q/q), partially dragged by a higher-than-expected tax expense. The better q/q comparison was driven by higher revenue in particular from Test & Measurement where Venture enjoyed market share gains from existing customers, and Printing & Imaging which stabilised after a horrendous 1Q. Retail Store Solutions was decently stable given that 2012 was a very high base. Disappointingly however, Networking & Communication continued to be dragged down by a slow M& A-related transition at major customer Hypercom, which was acquired by Verifone Going forward, management believes that the operating environment looks to have improved with most existing customers showing signs of recovery and sees sales momentum across its major sectors, while new customers including Oclaro could possibly have a higher contribution in 2H13. The company also said that it will invest in engineering and marketing capabilities to deliver innovative products and solutions. Maybank-KE note that Free cashflow for the grp has improved from just $6m in 1Q13 to $40.7m in 2Q13, which is inline with last year?s trend and does not take yet into account expectations for a significant jump in capex in 2H13 given that Venture still has to pay for the bulk of its $38m purchase of a Singapore factory. YTD capex is only about $16m but expect at least $40m in 2H13. Nevertheless, given the tight way Venture runs its balance sheet, house expect dividends to remain safe at least for FY13. Latest brokers ratings as follows: Maybank-KE upgrades to Hold with $7.63 TP Nomura maintains Buy with $9.20 TP UOB Kay Hian maintains Buy with $8.05 TP |
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lucky168
Veteran |
13-Aug-2013 21:30
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Every Quarter, profit gets lower & lower. Sooner or later, it will not be able to support the current dividend rate % Think hard... |
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Octavia
Supreme |
13-Aug-2013 21:23
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PUBLISHED AUGUST 13, 2013 Venture sees 10 per cent drop in profit BY AMIT ROY CHOUDHURY GLOBAL technology company Venture Corporation reported a 10.3 per cent drop in net profit to $30.1 million for the second quarter ended on June 30. Revenue dropped 3.9 per cent to $587.7 million during the quarter. According to the company, the decline in net profit is primarily due to higher income tax provision for the quarter. Diluted Earnings Per Share (EPS) was 10.9 cents for the quarter compared to 12.2 cents for the same period last year. The group generated cash from operations of $59.1 million and the working capital stood at $648.8 million as at June 30. Inventories stood at $540.3 million for the quarter with trade receivables of $425.1 million and Trade Payables of $316.6 million. Working capital was slightly lower compared to the prior quarter mainly due to an increase in Trade Payables. http://infopub.sgx.com/FileOpen/2Q2013PressRelease.ashx?App=Announcement& FileID=251969 |
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sportyboy
Member |
30-Jul-2013 21:27
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Window dressing most likely .. Nothing to shout about | |||||||||
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Octavia
Supreme |
30-Jul-2013 20:48
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Aberdeen Asset Management Asia Limited bought 42K of Venture share from the market. | |||||||||
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Octavia
Supreme |
30-Jul-2013 09:42
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Counter is down 0.14% today, hardly a surprise, with the counter having been range bound after it reported a dismal set of results in May, which saw weak financial performance across most segments, exacerbated by higher income tax expense and lower contributions from associates. Going forward, management notes that the operating environment for the global electronics industry remains challenging with no clear signs of recovery in the near term. The group aims to sharpen its focus on increasing market share and win new programs and customers, while considering strategic investments to meet longer-term goals. Nevertheless, with a net cash position of $294.1m ($1.07 cash / share), Venture’s balance sheet remains sturdy, which should enable the group to ride out the current storm. However, with a dividend payout at almost 100% and capex doubling to at least $68m in FY13, it may be difficult for Venture to sustain its DPS of 50¢, hence putting its attractive 6.5% yield under pressure. | |||||||||
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Octavia
Supreme |
24-Jun-2013 09:46
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OCBC maintains Hold with $7.37 TP. House note that conversation with Venture highlighted that sentiment among its customers has largely remained cautious given the still uncertain macroeconomic conditions. This is in line with tepid macro data points which were released recently. House now expect grp’s 2H13 recovery strength to be weaker than its previous expectations. Hence, pare FY13/14F revenue forecasts by 5.4/1.6%, even as house take into account the recent appreciation of the USD vis-à-vis the SGD. FY13/14F net profit estimates are lowered by 7.8/6.6%, respectively. While house like Venture’s strategy of continuing its acquisition drive for new customers and growing its market share with existing customers by leveraging on its strong design and engineering capabilities, prefer to wait for clearer signs of a rebound in the global economic conditions before turning more positive on the stock. | |||||||||
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guoyanyunyan
Supreme |
17-Jun-2013 08:50
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...Married Deal: Vol: 182 Value: $1,336,426 ie $7.343/share Prev Close: $7.350... ...seems to picking up after the recent low @ $7.06... |
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