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It's business as usual for this tech company after Brexit

Gwyneth Yeo Published on Mon, Jul 18, 2016 / 4:30 PM GMT+8

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SINGAPORE (July 18): UOB Kay Hian is maintaining its “buy” call for Venture Corporation with a raised target price of $9.82, from $9.25 previously.

UOB Kay Hian’s analyst, Jonathan Koh, noted that Venture’s order flows saw little impact from the Brexit referendum, even though its customers have become more cautious and restrained. As Koh explains, Venture’s customers had “already toned down their expectations during the market turmoil during January and February and were well aware of potential repercussions from Brexit”.

“More than 80% of Venture’s customers are US-based technology and industrial companies, particularly those headquartered around Silicon Valley,” writes Koh, in a note on Friday. “50% of its products are shipped to the US, 40-45% to Asia Pacific and only 5-10% to Europe.”