Venture Corp

H guys,

Does anyone know why wld an entity buy and sell shares over two days ? Cld it be coincidentally a client of PNC(nominee a/c) sold, while another bought ? I don't get it.

Thanks in advance.

-----------------------------------------------------------------------------------

BlackRock ceases to be substantial shareholder of Venture Corp
Thu, Jul 25, 2019 - 5:35 PM

ASSET manager BlackRock Inc has ceased to be a substantial shareholder of Venture Corporation, after related entity the PNC Financial Services Group reduced its holdings in Venture Corp on July 22.

In a filing to the Singapore Exchange on Wednesday, Venture Corp said PNC disposed of about 525,500 shares on Monday, reducing its shareholding in the electronics manufacturing services provider to 4.98 per cent.

Just one trading day prior, on July 19, PNC had increased its interest in Venture Corp to 5.16 per cent by purchasing about 525,400 Venture shares.

At that point, BlackRock was said to hold a deemed interest in Venture Corp through its indirect control of PNC, which has a substantial minority equity interest in BlackRock.

Source : https://www.businesstimes.com.sg/compani...nture-corp

11 May 2020 eAGM and 50cents div Venture Corp
(click for details)


div 50cents xd 8 June 2020
eAGM 3 June 2020@10:30am sgp time
(click to pre-register)

Stay home and stay healthy, everyone.

3 June 2020 eAGM Venture this morning.

Q&A published
(click to read)

Q8: Does Venture expect to be able to sustain its dividend pay-outs in next two years?
Ans:
The Board of Directors has recommended a final one-tier tax-exempt dividend of 50 cents per ordinary share for FY2019. Including the interim dividend of 20 cents per share paid in September 2019, total dividend for FY2019 totalled 70 cents per share, the same level as FY2018. While the Company does not have a formal dividend policy, it aims to pay dividends that are on par or higher than the previous year. On a cumulative basis, Venture has paid out over S$2 billion in dividends since its public listing in 1992.
Venture is prudent in its use of cash. This has enabled the Group to build a strong net cash position to support its various uses of cash such as dividend payment, capital investments as well as investing in the Group’s growth. Such requirements will be considered by the Board alongside the impact of Covid-19 in determining the Board’s proposals on dividends in FY2020.

Stay home and stay safe, valuebuddies.
watch Wesley Gray - Quantitative Value

[color=var(--ytd-video-primary-info-renderer-title-color, var(--yt-spec-text-primary))]Wesley Gray - Quantitative Value[/color]

29 June 2020 Meeting Minutes Venture
https://links.sgx.com/FileOpen/VCL%20-%2...eID=621587

The Chairman said that a shareholder had asked whether the Company would be able to sustain the dividend amount in light of the current economic conditions. He explained that the Company has been prudent in its use of cash and that has allowed the Company to build a healthy balance sheet to support the near-term and long-term cash requirements. While the Company does not have a formal dividend policy, it aims to pay dividends that are on par or higher than the previous year. 

Wear mask and keep your distance, everyone.

3 July 2020 Venture to release 1HFY20 Result (as at 30 Jun 2020)  on 7 Aug 2020 after market close.
https://links.sgx.com/1.0.0/corporate-an...b151ee089d

Wear mask and keep your social distance, everyone.

1H Result as at 30 Jun 2020
Rev $1.3b (vs 1.8b)
Profit before tax $151m (vs 211m)
Profit after tax $130m (vs 181m)
Div 25cts (vs 20cts)

Venture’s sequential recovery in 2Q 2020 was enabled by the effective teamwork, resourcefulness and resiliency of its people. The teams received deep appreciation from several customers and partners, with one of them lauding Venture as their “Heroes in Production”. Over the past few months, Venture’s dedicated taskforces worked unstintingly in their daily executions, in collaboration with a strong supportive network of customers, partners, business associations and government authorities to sustain operational excellence. Through this combined effort, Venture overcame the challenges precipitated by Covid-19 pandemic to deliver on its commitments to its customers and partners.

Venture’s consistent and reliable support is critical for its customers who continue to see sustained demand for their essential products and services. These customers are largely from the Life Science, Medical Devices & Equipment, Networking & Communications and Semiconductor-related Equipment domains. With the gradual reopening of some economies since late April 2020, the Group is also working conscientiously to fulfil its customers’ orders from the other technology domains serving non-essential end markets. The steady recovery seen in 2Q 2020 is expected to continue into the second half of this year. Venture’s R&D labs have plans to subsequently release a number of newly developed products into manufacturing commencing early 2021.

Stay home and stay healthy, valuebuddies.

https://links.sgx.com/FileOpen/VCL-Minut...eID=666417

Interesting to note Resolutn 10 to offer employee share options was voted down. Will venture reduce its dividends to shareholders since monetary cash rewards have to replace the lost share options to its employees? We will know in 2nd half reporting.

Executive Chairman Wong is 83years old this year. He stepped down as CEO at the end of 2021 and a new CEO was promoted from within. Fast forward to mid 2023, a restructuring was done and one CEO became two CEO (Co-CEOs).

Co-CEOs are a rarity on the local scene I suppose? So the Nominating Committee must have very good reason/s and more importantly, bravery to do something out of the norm. After all, trillion dollar cap Apple just had 1 Tim Cooks (who was the faithful COO before Jobs passed on) and Superman Musk is one CEO of 4-5 companies.

Looking at their job roles, the CEOs have distinct duties. Maybe they are still COOs and the ultimate CEO is still Chairman Wong?

MESSAGE TO SHAREHOLDERS

In 2023, we announced new appointments and the strengthening of our top leadership team to ready the Group for the future. Venture’s participation in its key, carefully selected technology domains have deepened and expanded in scope and scale under the combined leadership of the dual CEOs working symbiotically to bring their deep and diverse competencies and perspectives to the job.

The CEO (TPS1) strategically leverages our research and development expertise to create innovative products, modules and solutions, with a primary emphasis on the Life Science domain. He also spearheads the expansion of our Precision Engineering portfolio, overseeing initiatives in tool design, fabrication, and polymers molding. These endeavors cultivate great synergies with our EMS++ operations, where the CEO (AMDS2) directs his focus on the design and manufacture of a wide range of sophisticated electronic products. He also guides the roadmap for the modernisation and transformation of our manufacturing operations towards establishing a global network of excellence.

These collaborative efforts foster a harmonious synergy and ensures that the various facets of our business complement each other effectively, contributing to a unified and thriving Venture.

AR23:
https://links.sgx.com/FileOpen/Annual_Re...eID=794582

TRANSFORMING FOR THE NEXT DECADE

“The fast-paced and growth-focused technology industry of today faces increasing complexities, disruptions and uncertainties. We need new-thinking on how the Company is run. The Board views that having two CEOs, who are home-grown, with substantial technical knowledge in the key spheres of our technology business and aligned to Venture’s mission, vision and values, is an effective leadership model. Ghai Keen and Chee Kheong’s long tenure and deep immersion in the corporate ethos and culture of Venture will empower them to leverage on each other’s strengths and experiences to take the Group forward”.

Thanking Executive Chairman and the Board for their continued support, Ghai Keen affirmed his commitment to lead TPS and work with Chee Kheong to take the Group forward. On his part, Chee Kheong said he is humbled by the confidence in him to serve as CEO of AMDS and expressed his full support for the new leadership paradigm

May2023 announcement of co-CEOs:
https://links.sgx.com/FileOpen/Venture_T...eID=758638

Venture internal structure, from what I know, had always been not clearly defined. It is like a messy shop but very well run and extremely prudent. Spending every dime like it is their last is their hallmark, this is despite having a large cash pile from accumulated profits/cash flow. This is in extreme contrast with many start ups who spends freely even though they cant be sure when the next dollar will come from.

Venture = Very well run. Extreme prudence with spending. Cost over-runs in projects is unheard of in venture.

(11-04-2024, 06:08 PM)weijian Wrote: Executive Chairman Wong is 83years old this year. He stepped down as CEO at the end of 2021 and a new CEO was promoted from within. Fast forward to mid 2023, a restructuring was done and one CEO became two CEO (Co-CEOs).

Co-CEOs are a rarity on the local scene I suppose? So the Nominating Committee must have very good reason/s and more importantly, bravery to do something out of the norm. After all, trillion dollar cap Apple just had 1 Tim Cooks (who was the faithful COO before Jobs passed on) and Superman Musk is one CEO of 4-5 companies.

Looking at their job roles, the CEOs have distinct duties. Maybe they are still COOs and the ultimate CEO is still Chairman Wong?

MESSAGE TO SHAREHOLDERS

In 2023, we announced new appointments and the strengthening of our top leadership team to ready the Group for the future. Venture’s participation in its key, carefully selected technology domains have deepened and expanded in scope and scale under the combined leadership of the dual CEOs working symbiotically to bring their deep and diverse competencies and perspectives to the job.

The CEO (TPS1) strategically leverages our research and development expertise to create innovative products, modules and solutions, with a primary emphasis on the Life Science domain. He also spearheads the expansion of our Precision Engineering portfolio, overseeing initiatives in tool design, fabrication, and polymers molding. These endeavors cultivate great synergies with our EMS++ operations, where the CEO (AMDS2) directs his focus on the design and manufacture of a wide range of sophisticated electronic products. He also guides the roadmap for the modernisation and transformation of our manufacturing operations towards establishing a global network of excellence.

These collaborative efforts foster a harmonious synergy and ensures that the various facets of our business complement each other effectively, contributing to a unified and thriving Venture.

AR23:
https://links.sgx.com/FileOpen/Annual_Re...eID=794582

TRANSFORMING FOR THE NEXT DECADE

“The fast-paced and growth-focused technology industry of today faces increasing complexities, disruptions and uncertainties. We need new-thinking on how the Company is run. The Board views that having two CEOs, who are home-grown, with substantial technical knowledge in the key spheres of our technology business and aligned to Venture’s mission, vision and values, is an effective leadership model. Ghai Keen and Chee Kheong’s long tenure and deep immersion in the corporate ethos and culture of Venture will empower them to leverage on each other’s strengths and experiences to take the Group forward”.

Thanking Executive Chairman and the Board for their continued support, Ghai Keen affirmed his commitment to lead TPS and work with Chee Kheong to take the Group forward. On his part, Chee Kheong said he is humbled by the confidence in him to serve as CEO of AMDS and expressed his full support for the new leadership paradigm

May2023 announcement of co-CEOs:
https://links.sgx.com/FileOpen/Venture_T...eID=758638

Ok, so it is now obvious that it was a competition previously.

APPOINTMENT OF MR WONG CHEE KHEONG AS GROUP CHIEF EXECUTIVE OFFICER

Venture Corporation Limited (SGX: VO3) announced today that the Board has appointed Mr Wong Chee Kheong as Venture Group CEO effective 1 November 2024.

The Group also announced today that Mr Lee Ghai Keen has decided to cease employment as CEO of Technology Products & Solutions (TPS) of Venture Corporation on 31 October 2024 for personal reasons. He will remain with the Venture Group for a period of time to facilitate a smooth transition.

https://links.sgx.com/FileOpen/VCL_Press...eID=820558