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Venture
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Pinnacle
Master |
02-Nov-2007 21:22
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Singapore Venture Q3 net up 29 pct, small forex loss Venture Corp Venture said it made a $1.5 million loss from foreign exchange transactions, which comes after forex losses of hundreds of millions of dollars reported in Singapore last month by rig builders SembCorp Marine "We have a very natural currency hedge, because much of our procurement is in U.S. dollars," said CEO Wong Ngit Liong. The firm also said it had a mark-to-market adjustment of S$6.9 million relating to investment in collaterised debt obligations (CDOs), though no impairments had been recorded in the first nine months of this year. These charges were offset by a gain on disposal of investments of S$2.8 million and a tax write-back of S$6.7 million, the firm said. Venture earned S$76.3 million ($52.66 million) in the three months ended September, compared with S$59 million in the same period a year ago. Revenue was up 17 percent at S$936 million. "We are confident the group is able to sustain the strong performance, assuming the operating environment remains favourable," Wong said in a statement. Singapore's electronics sector, which makes up 40 percent of its non-oil exports, contracted 10.6 percent in September from a year ago, amid worries over a slowing U.S. economy. Economists have since June been calling for a pick-up in Singapore's tech sector, which has struggled with high inventory levels, but slow shipments of disk-drives and computer parts have stalled a recovery. Venture competes with Nasdaq-listed, Singapore-based Flextronics International Ltd. The firm makes printers for Hewlett-Packard Co. Ltd. |
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sandbox
Senior |
27-Jul-2006 15:14
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Seems that Venture buying over GES is having a positive effect on its own turf... |
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bsiong
Supreme |
27-Jul-2006 14:42
Yells: "The Greatest Wealth is Health" |
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Business Description: Venture Corporation Limited. The Group's principal activities are the provision of manufacturing, design, engineering, customization and logistic services to electronics companies worldwide. Other activities include developing and marketing of colour imaging products for label printing, manufacture of industrial metal parts, tools and dies, removable disk drives and cartridge storage media and investment holding. The Group operates in Singapore, Asia Pacific, United States of America, Mexico and other countries. http://www.remisiers.org/research//venture060727.pdf http://www.remisiers.org/research//27%20July.pdf |
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