INVESTMENT THESIS : STRONG ORDERS MARRED BY SUPPLY DISRUPTIONS


Key Arguments:
Still a quality tech blue chip despite supply disruptions. 1Q21 performance was affected by supply disruptions for parts and components.Otherwise, Venture sawbroad-based strength across the group’s diverse technology domains. Project pipeline remains strong. The Group is working towards
launching new products across the Instrumentation, Networking & Communications, Advanced Industrials and Advanced Semiconductor-related
Equipment domains.


Strong financials to support dividend. Strong cash position to support a repeat of 75 Scts DPS in FY21, which works out to an attractive yield of c.4%.