Venture

Venture: UOB Kay Hian downgrades to Hold from Buy with $7.82 TP. House note that Venture will be affected as customers reduce orders for 2H12 in light of uncertainties in macro outlook. However, foresee share price to be supported by an attractive dividend yield of 7.1% given current emphasis on recurrent yield. Also likeVenture for its strong free cash flow and fortified cash-rich balance sheet. Its high-value high-mix business model provides resilience