My analysis is mainly doing some fact finding from the various Maybank reports, which I think are of high quality

http://sbr.com.sg/manufacturing/news/brace-another-venture-corp-pummeling-next-quarter

http://research.maybank-ib.com/pdf/document/VMS_070114_5619.pdf

http://research.maybank-ib.com/pdf/document/Venture_NDR_220114_5655.pdf

Of the 5 area of customers:

Image

Printing and imaging is the only one that is doing very badly. This is despite Venture being the sole builder of a type of portable printer for HP in 2013. There is a lot of buzz from the 3D printing sector filling this gap, even if the 3D printing does not contribute strongly in the coming quarters, how bad can it be? Its major customer is Stratasys 3D based in Shanghai. Stratasys as with other 3D companies are growing very strongly, however, how much market share can Venture take from Stratasys is questionable, especially it it is still in the prototype stage. But if there is a growth segment that Venture cannot be …