Venture Corporation has asked investors to “carefully assess” analysts’ reports about the group, in a general corporate update.
In a June 23 filing, the group alleged that the reports have forecast its outlook “without proper basis and on incomplete information”. It added that its stakeholders should instead refer to its announcements listed on the SGX and on corporate websites.
The group will provide its next financial update and 12-month outlook during its results for the 1HFY2021 scheduled for early August.
In the same statement, Venture reiterated its established track record in its research and development (R&D) capabilities, well-integrated Clusters of Excellence and “extensive and deep expertise in diverse and complex technology domains”.
“These platforms propel Venture to forge and strengthen long-term partnerships with leading industry collaborators worldwide,” writes the group in the statement.
It adds that its collaborations with its key global customers and partners have positioned the group well to enhance its value propositions and expand its participation into new adjacent technology domains.
“Our long-term collaboration in the Lifestyle Consumer Electronics domain saw the successful development and launch of various products over the past several years. A new series of next-generation devices in this domain have been developed by Venture and plans are afoot to launch these products in the second half of 2021,” reads the statement.
The corporate update also thanked its staff for their “competency, resourcefulness and resiliency” during the Covid-19 pandemic.
The group adds that continues to implement joint initiatives with various stakeholders to manage its global supply base in view of the ongoing lack of supplies for parts and components.
Shares in Venture closed 12 cents lower or 0.7% down at $18.08 on June 23.
