Venture: UOB Kay Hian maintains Buy with $7.95 TP. House note that the Worst is likely over. Customers are still cautious but the outlook appears to have stabilised. This is a huge contrast to 4Q11 which saw overwhelmingly negative sentiment. Mgt expects 1H12 to be flat with a slight pick-up in 2H12.
Add that Venture has a pipeline of new projects in the printing & imaging (MEMS-based inkjet printers), retail store solutions (secured financial transaction cards), communications (bidirectional optical devices) and industrial (power electronics) segments, most of which will contribute more significantly in 2H12.
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