$Venture(V03.SI) agm 2026. Door gift is their usual packet of nuts. Hoot 2 cups of their free Cappuccino to keep myself awake.
Revenue drop to $2.5b -7.4%, if constant currency basis less jialat -5.7%. net margin maintained at 9%. Eps drop -6.8%. Cash generated from operations $251.5m, net cash $1.28b after setting aside $230m for dividend n sbb. Working capital improved by 80m by optimising Trade receivables n payables. Total dividend 80c (interim 55, special 5, final 50), payout ratio 101%. A stepup from last yr. $18m worth of shares sbb n cancelled @12.55??. 30% of the $10m allocated to sbb completed. 2026 we will execute multiple pathways for our growth. Forge strong partnerships.

&zwnj Test n measurement for data centres. Life science into early stage products. Iot n smart building related stuffs too. Most Mnc don&rsquo t want to give up china market. We have plants in shanghai n suzhou(for plastic parts). Current dividend payout ratio over 100%, but we r comfortable paying, coz got adequate cash buffers. Sbb not much coz wait until market keesiao, people selldown n short, when sharepirce low low, then we go big, rollnout our big guns to do massive sbb.

&zwnj Q: 2025 operational performance down, but total share holder return up. U have 100 business partners n so many products, hard to understand in breath n depth, can do tech showcase n factory visit?
A: we can do video presentation, invite shareholders in sg to come. When we meet with analyst, u can participate, usually small group, write in to us if u interested to attend such sessions.

&zwnj Q: venture strategy in AI space? From revenue n business development perspecive. How exposed is venture to companies in this space? Can translate to meaningful margin gains?
A: we participate in hyper scale data centre. Primarily in hardware, optical transeivers, data centres has many products n components in them, 5yrs ago we already working with the ecosystem, some company go into gpu, cpu, memory. We hav participated in this ecosystem 4-5yrs ago. Not just manufacturing but also design, work with them to design products. In field of which help to do networking between data centres n the outside world. Networking, info, electronics cards. Actual usage has risen. Also into security in control of info. Also into memory accelerator. Hbw memory is in short supply, we work with others, combine design, sell these products which help accelerates performance. We work with US, korea companies, also work to penetrate Chinese companies. These will be quite exciting in bringing in revenue growth.

&zwnj Q: revenue has been declining for past 3yrs. Exciting news but how much % of that is in revenue now.
A: this agm is for 2025. those info u like to hear about future, have to wait till next agm. We focus on growth in multiple areas, hyperscale dc is only 1, iot also growing well, semiconductor also another growth driver. Also make equipments which goes into product which r shipped to wafer fabs like tsmc. We also in communication sector now, sophisticated stuffs. Too chim for most of u to understand. Looking at new geography to work on, global basis. Will share more as we implement n execute. Not today. Just to let u know we have multiple pathways forward.

&zwnj Chariman: now your favourite topic, dividends. 80c total div. Sustainable return to shareholders n at same time maintain $ for strategic opportunities.

&zwnj Q: this year we paying more dpu than eps. Is that a signal that there is no growth n opportunities? thats y u payout dividends to shareholders? Why revenue of company delining yoy, yr after yr?
A: u see this morning raining, rain means huat, so we can look forward to a good yr this yr. Huat ah! 6-7areas we already see active growth. We had setback by 1-2companies, but they have since recovered. Enjoy the ride. Coming May this yr we having board meeting, later of yr we will announce the good news. we hav lots of cash, besides returning to shareholders, we also want to grow the company. Starting this yr, in terms of execution. Timing has been good. Will report the positive direction soon

&zwnj Q: huge cashpile on venture balance sheet. Too much cash will become a drag. Any longer term commitment to work down this cashpile especially when coming yrs is rosy.
A: important that we spend funds to grow company, so as to improve dividend down the yrs. we have been very careful not to waste cash. We have big ambition to grow n we need the cash to grow.

&zwnj