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UTILITIES | Staff Reporter, Singapore

Venture Corp completed acquisition of $13m land site

The site will be located in Batu Kawan Industrial park.

Venture Corporation completed the acquisition of a 60-year leasehold land site for $13.0m in Q2 last year and paid $5.7m in 1H2016.

According to DBS Equity Research, development of the land is expected to start in 2017. It is located in the Batu Kawan Industrial park near Penang Island, well known for its high-tech electronics manufacturing industry.

DBS analyst Suvro Sarker commented, "Venture could benefit from specialised labour and improved supply chain networks with its presence in this area."

Meanwhile, Venture could also benefit in the long run from the adoption of new enabling technologies and applications at the commercial level.

Venture has established strong relationships with companies researching on Genome sequencing, which could see healthy growth over the medium term with increasing investments and use of MedTech.

A firmer hold on lower-cost technologies in healthcare is also likely to boost its Test, Measurement, Medical and Life Science segment.

The segment contributed 43.2% to the top line in 2016 compared to 34% in 2015. This helped lift the company from the weak performance of its Computer Peripherals & Data Storage segment.

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