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DBS Upgrades Venture TP
DBS Group Research on Wednesday upgraded the counter to &ldquo buy&rdquo , with a target price of S$21.80. It cited a &ldquo materially stronger underlying recovery&rdquo , considering constant-currency revenue growth was 8.2 per cent and that the momentum was &ldquo expected to build through 2026&rdquo .
&ldquo The quarter marked an important turnaround, as Venture delivered its first year-on-year quarterly revenue and net profit growth after three years of negative year-on-year comparisons,&rdquo added the research house.
pool100 ( Date: 07-May-2026 02:05) Posted:
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Very high possibility
pool100 ( Date: 07-May-2026 02:05) Posted:
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CGS International Securities Singapore Pte Ltd: Research Report 6 May 2026
Research ReporSingapore | 6 May 2026
Venture Corporation - Expecting to grow in FY26F
ADD TP:S$21.78
■ 1Q26 revenue (S$628.5m) fell 3% qoq but rose by 2% yoy due to higher demand. In US$ terms, 1Q26 revenue grew by a stronger 8.2% yoy.
■ 1Q26 net profit of S$56.3m (-4% qoq, +1% yoy) was 4.1% higher than our S$54.1m forecast, but in line with Bloomberg consensus full-year forecasts.
■ Reiterate Add with an unchanged S$21.78 TP as Venture resumes its earnings growth over FY26-28F.
Fiat500 ( Date: 06-May-2026 11:10) Posted:
| What happened to Venture today? Have not seen this for a very long time? |
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96c.
Have faith in Tng!
ahberngh ( Date: 06-May-2026 13:56) Posted:
| Today maybe can touch 70c. |
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Tng has made successful calls on AEM, ISDN and Venture
DYODD
Alignment ( Date: 06-May-2026 12:20) Posted:
There are similarities between what was said in this update and the AEM FY results announcement on 25 Feb when the AEM share price was still at S$2. Fast forward two months and the share price went above S$8.
Not saying that Venture' s share price will quadruple in the same way in the next two months, but the markets can clearly see parallels.
MambaFinancial89 ( Date: 06-May-2026 10:37) Posted:
| " This is like new shoots sprouting in early spring... We expect these new shoots to grow in 2026." Excerpt from their Outlook in the 1Q26 update. Don' t think I have ever seen such a statement from a Venture announcement. |
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may want to note the below are the shareholders in VC currently
Top Institutional Holders
- Silchester International Investors LLP: ~7.9% &ndash 9.0%
- Columbia Management Investment Advisers, LLC: ~5.98%
- The Vanguard Group, Inc.: ~4.05%
- BlackRock, Inc.: ~2.28%
- Seafarer Capital Partners, LLC: ~2.09%
- Massachusetts Financial Services Company (MFS): ~1.90%
- Norges Bank Investment Management: ~1.61%
- Dimensional Fund Advisors LP: ~1.42%
Alignment ( Date: 06-May-2026 12:20) Posted:
There are similarities between what was said in this update and the AEM FY results announcement on 25 Feb when the AEM share price was still at S$2. Fast forward two months and the share price went above S$8.
Not saying that Venture' s share price will quadruple in the same way in the next two months, but the markets can clearly see parallels.
MambaFinancial89 ( Date: 06-May-2026 10:37) Posted:
| " This is like new shoots sprouting in early spring... We expect these new shoots to grow in 2026." Excerpt from their Outlook in the 1Q26 update. Don' t think I have ever seen such a statement from a Venture announcement. |
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this Tng chap....can be trusted...l:)
Joelton ( Date: 29-Apr-2026 11:49) Posted:
Tng of CGSI raises ISDN' s target price to 96 cents on resilient industrial automation business
William Tng of CGS International has more than doubled his target price for ISDN Holdings from 44 cents to 96 cents, on the premise that the company' s resilient industrial automation business will see further growth, therefore justifying a higher earnings multiple.
In February, ISDN reported FY2025 revenue of $440 million, an increase of 18% y-o-y, driven largely by its industrial automation business in China. Gross margin for this business segment was relatively stable at 24.3% in FY2025 versus 24.2% in FY2024.
Earnings for the year was $7 million, down 21% y-o-y, dragged by $4.5 million in unrealised, noncash foreign exchange revaluation losses from its hydropower business in Indonesia. Excluding which, core profit for the year was up 26% y-o-y.
Even so, ISDN wants to grow its renewable energy business, with two additional mini hydropower plants scheduled for completion in 2026.
According to Tng, ISDN continues to see broad-based demand for its IA business as factories continue to enhance their capabilities via advanced IA solutions.
The company has also expanded its presence across Asia to capture emerging opportunities from Malaysia and Taiwan amid ongoing global supply chain diversification, he says.
Tng' s higher target price of 96 cents is based on 24x FY2027 earnings, which is 1 sd. above its 10-year average of between FY2017 to FY2026. His earlier target price was based on an earnings multiple of 13.5x, the company' s ten-year average between FY2016 to FY2025.
Besides earnings growth seen to resume in FY2026 to FY2028, Tng believes that this counter will also draw buying interest from Equity Market Development Programme (EQDP) funds.
Re-rating catalysts include higher-than-expected net profit contribution from its hydropower business segment, a faster pace of economic growth in China as it stimulates its economy, and a stronger global semiconductor recovery.
On the other hand, downside risks include weak customer demand if the global economy continues to slow, and potential bad debts as economic conditions worsen.
ISDN shares, as at 11.41 am, changed hands at 61 cents, up 26.04%.
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institutions have the bullets and power to move markets
slimerlth ( Date: 06-May-2026 09:41) Posted:
| Dont need to keep focus on those institutions in and out, they can left hand in right hand out. They not necessary correct like previous EPF. Even temasek also bo cun la like hyflux. All these just market noise, believe what you see. Haha. |
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Venture on Viagra or on Vaping...? :)
Fiat500 ( Date: 06-May-2026 11:10) Posted:
| What happened to Venture today? Have not seen this for a very long time? |
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Financial matters really. But it depends on what the BBs and institutions want the price to be...
Alignment ( Date: 06-May-2026 12:36) Posted:
You cannot look at the financials in isolation. What matters is the numbers relative to expectations as reflected in the share price. Expectations were very low, so even a stablisation/slight increase would have prompted a positive reaction.
But on top of this the strength of the reaction relates to the guidance rather than the latest financials.
spore1 ( Date: 06-May-2026 12:26) Posted:
| I am surprised the mkt seem to like the latest financial numbers. Only up a bit but price spike up |
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William Tng has made a name for himself boldly.....Promotion coming...
Joelton ( Date: 05-May-2026 10:20) Posted:
CGSI&rsquo s William Tng boldly raises Venture Corporation target to $21.78
Analyst William Tng from CGS International (CGSI) has reinforced his optimism in technology solutions provider Venture Corporation by maintaining his &ldquo buy&rdquo call with a higher target price of $21.78, representing an increase of $4.74 from the previous mark of $17.04.
Based on the company&rsquo s 10-year historical seasonality trend with the first quarter contributing 22% of earnings on average, Tng thinks that Venture&rsquo s declining quarterly earnings since 4QFY2022 could bottom-out at $54.1 million in 1QFY2026, representing 3% y-o-y and 7% q-o-q quarterly decreases.
Tng&rsquo s confidence stems from Venture&rsquo s annual report issued on April 2 which shares how the company has been &ldquo strengthening&rdquo foundations for the next phase of growth as it &ldquo advances momentum&rdquo across multiple technology domains and deepens strategic customer collaborations.
For the networking and communications domain, Venture shared that it is ramping up activities in the hyperscale data centre space and expanding its network connectivity solutions. Meanwhile in the test and measurement segment, management guided that there has been new product wins and market share gains with customers.
On the semiconductor-related equipment front where Venture is a leader in high value-add and complex printed circuit board assembly modules for customers such as Nasdaq-listed Lam Research, the company is &ldquo making progress&rdquo . For the lifestyle consumer domain, Venture states that it is working closely with a customer to co-develop next generation products.
Tng expects recovery in the lifestyle consumer and test and measurement segments to support a stronger 2HFY2026 performance. Forecasting earnings per share to grow by an average of 8% from FY2026 to FY2028, he increases his TP to $21.78, based on 23 times of FY2027 forecasted P/E. He adds that the EQDP rally is fueling this valuation which is three standard deviations above the 20-year average (2007 to 2026 forecasted).
Rerating catalysts for Tng include new products launched by customers which increase profitability and better-than-expected revenue outlook as companies diversify their production from China to Malaysia, creating more revenue opportunities for Venture.
Shares in Venture are up by 66 cents, or 4%, to $16.86 as at around 11.07 am on May 4.
Earlier, Tng had made &ldquo bold, on-point&rdquo calls on AEM Holdings and ISDN Holdings.
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your wish is coming true..
kye_lin ( Date: 04-May-2026 17:06) Posted:
| 19 I very happy already. No need 21. |
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dividend payment to be increased?
Joelton ( Date: 06-May-2026 09:28) Posted:
Venture posts 0.7% increase in Q1 earnings to S$56.3m amid strong AI infrastructure demand
Revenue for the quarter rises 1.9% to S$628.5 million, up 1.9% year from the previous year
[SINGAPORE] Technology player Venture Corporation : V03 -3.57% on Tuesday (May 5) posted S$56.3 million in net profit in the first quarter of FY2026, as demand for AI-infrastructure continues to grow worldwide.
While the group did not disclose a comparison for its net profit for the previous year, the figure is a 0.7 per cent increase from S$55.9 million net profit in the year-ago period.
Revenue for Q1 FY2026 rose 1.9 per cent to S$628.5 million, from S$616.6 million the previous year.
The group attributed the rise in group revenue to heightened demand across technology domains that support AI-related infrastructure.
This was driven by its Portfolio B, which consists of domains such as test and measurement instrumentation, networking and communications, as well as semiconductor-related equipment.
The portfolio&rsquo s revenue increased 11.2 per cent to S$417 million, from S$375 million the previous year.
However, revenue of the group&rsquo s Portfolio A &ndash comprising the life sciences, medtech and lifestyle consumer segments &ndash decreased S$30 million to S$212 million, from S$242 million in the year-ago period.
Venture said this was due to declining year-on-year volumes in the lifestyle consumer domain.
Earnings per share edged up 0.9 per cent to S$0.195, from S$0.193 in the year-ago period.
The group&rsquo s working capital position stood at S$868.3 million as at Mar 31, up S$37.5 million from the end of last year, as it increased inventory levels by S$58.6 million to support business growth and supply chain resilience.
Its net cash position stood &ldquo in excess of S$1 billion&rdquo as at Mar 31, &ldquo even after the payment for higher dividends as well as share buybacks in 2025&rdquo . Its board has proposed a final dividend of S$0.50 per share for FY2025.
&ldquo With existing customers and partners in our selected tech domains, we are growing market share in the hardware space,&rdquo it noted.
The group said that its advancement in research and development in the consumer lifestyle segment places it in a &ldquo good position&rdquo for future opportunities beyond product and system design and development.
&ldquo Venture continues to invest in operational excellence and forge new levels of more comprehensive strategic collaborative partnerships in an emerging multipolar world.&rdquo
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ok, it seems that this William Tng is cut out to be an analyst and a prta flipper. Both roles he can excel...:)
tongphlp ( Date: 04-May-2026 20:03) Posted:
haha more so this Tng chap. One minute downgrade, another minute upgrade...maybe he sell prata as a sideline...?
spore1 ( Date: 04-May-2026 18:46) Posted:
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every dog(stock) will have its day...
muifan ( Date: 06-May-2026 09:09) Posted:
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haha...u can call me a gambler then...occasionally buy toto 4d....for leisure it is perfectly ok! Let' s hop on board Carribean cruise!
aragosta ( Date: 05-May-2026 22:15) Posted:
Ah Tong, you should know by now, I' m not a gambler..... like stocks, I am a long term serious investor...I sell only when I made enough, or to average down my cost.... like AEM, my average cost is below a dollar! Be like me lah, don' t treat SGX like a casino......
By the way, how come you never post JPM buying into AEM, filed with SGX today...
https://links.sgx.com/FileOpen/_eFORM3V2.ashx?App=Announcement& FileID=887624only post when they sell, you were quick to post......like that how can? boh swee leh.....
Anyway, these buy and sell transactions relating to such large institutional investment funds are not so critically significant here, the point which I' m trying to make all along.....
' As I repeatedly said....
" It is important to view these disclosures as standard market activity rather than a shift in institutional sentiment. JPMorgan functions as a global investment house, often acting as a custodian or nominee for a wide range of institutional and high-net-worth clients.
Consequently, many of these transactions are client-driven rather than proprietary trades made with JPM' s own capital. When a sale occurs, it typically reflects a client' s decision to take profits, rebalance a portfolio, or reallocate funds to another asset ~ much like a retail trader would ~ rather than a lack of confidence by JPM in the company' s long-term value." |
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Looks like it..
pool100 ( Date: 05-May-2026 22:13) Posted:
Superb update. They' ve grown tremendously in the high value sector in AI and data centres. Superb development.
Venture is embarking on a high growth phase and this update is proof of it.
CIMB' s $21 TP could be too conservative if everything goes well. We could see Venture hit $30 before we know it.
kye_lin ( Date: 05-May-2026 17:39) Posted:
| https://links.sgx.com/1.0.0/corporate-announcements/A8A98NBUBW6YAHRJ/887600_Venture_Business_Update_1Q2026.pdf |
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at least they r watching...
YewTee ( Date: 05-May-2026 23:06) Posted:
| go up 8 cents, next day go down 10 cent....keep kana short......management just watch..... |
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iKnowRight.....iSteadyLah...
JurongW ( Date: 05-May-2026 19:53) Posted:
iFast become iSlow already?
tangsookiam1947 ( Date: 05-May-2026 18:19) Posted:
| kept dropping every single day since Q1 2026 result was out... Essentially, mr market does not believe iFast Growth Story anymore....IGB' s deposit growth rate is now close to ZERO! |
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won any $ from the cruise?
aragosta ( Date: 05-May-2026 15:13) Posted:
On my way back from the Genting Dream Cruise this morning, I found this report lying on the floor at the gangway... it' s like as if someone purposely leave there, begging me to pick it up. I picked up, read it, found it interesting, so I thought I should share it with you.
This report summarizes the investment thesis for AEM Holdings' potential transition to the Nasdaq, evaluating whether this move can recreate the " Creative Technology" success story of the 1990s.
The AEM " NASDAQ Moon Quest"
The Core Objective: While AEM is expanding its physical plants in the US, the primary goal of a Nasdaq listing is Valuation and Visibility. Management aims to rebrand AEM from a " Singapore industrial firm" into a " Global AI Hardware leader." (One can sense the presence of a government~linked entity hiding in a closet nearby). This transition is the only realistic catalyst that could push the stock from its current single-digit range toward a double-digit valuation ($10&ndash $25+).
1. The Golden Ticket: The SGX-Nasdaq Bridge
Previously, listing in the US was a nightmare of paperwork and fees. By mid-2026, a new regulatory bridge changes the game:
~ Ease of Entry: AEM can use a single prospectus to list on both exchanges.
~ With a market cap exceeding S$2B, AEM is a prime candidate for this fast-track program.
~ This reduces thehigh administrative fees discussed earlier, making the move much more efficient.
2. The Why: The Valuation Gap
The market thrives on " multiples."
~ Singapore Market: Investors are often conservative, valuing tech stocks based on steady dividends and modest growth.
~ Nasdaq Market: US investors pay a premium for AI infrastructure. AEM' s peers (like Teradyne) trade at significantly higher price-to-earnings ratios.
~ Result: Moving to the Nasdaq allows AEM to be measured against AI giants, which could re-rate the share price significantly higher without changing the underlying business.
3. The " Creative Technology" Comparison
Can AEM emulate Creative' s $50+ peak?
~ The Similarities: Both companies utilized Singaporean engineering to dominate a global niche. Both sought the Nasdaq to tap into Big Tech capital.
~ The Difference: Creative was a Consumer play (Sound Blaster). AEM is an Infrastructure play. While AEM might not have the household name fame, its role as a gatekeeper for AI chip testing makes its revenue potentially more stable and sticky than a consumer gadget.
4. The Golden Bullet of Growth: AI & HPC
The transition is fueled by a massive shift in AEM' s business model:
~ The New Anchor: AEM has moved beyond its heavy reliance on Intel. Two new Top 5 AI/HPC giants are now driving the company' s growth.
~ Financial Health: AEM entered 2026 with S$74.3M in net cash and strong cash flow. This means they don' t need the Nasdaq just to survive ~ they are using it to thrive and expand their US footprint (Arizona/California).
5. The Risks to Watch
~ Small Fish Status: On the Nasdaq, AEM is a small-cap stock. It must fight for the attention of US analysts to avoid being ignored and neglected
~ The Profit Target: To realistically sustain a S$25.00 price, AEM needs to scale its annual net profits significantly (targeting ~S$200M+). Not impossible.
~ Litigation: The ongoing Advantest lawsuit remains a hurdle that could affect investor sentiment during the listing process.
The Executive Summary
AEM is attempting to catch the AI Lightning in a bottle. The Nasdaq listing is the multiplier. If AEM successfully ramps up its AI testing solutions for its new anchor customers, the combination of high earnings growth and US market valuation could realistically propel the stock price into the double-digits.
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