Venture Corp. is targeting expansion in the life sciences market, pointing to expectations it will “grow significantly,” the contract manufacturer said in a filing to SGX with answers to shareholders’ questions before its annual general meeting (AGM).
The company said it has introduced new products in the life science segment, including analytical instruments.
“Growing trends in next generation sequencing and molecular diagnostics are opening up exciting business prospects to support customers in these market segments. Beyond creating valuable business impact, breakthroughs in life science research have the potential to improve human lives,” Venture said.
The company said it has seen “positive momentum” in instrumentation, test and measurement, networking and communications, advanced industrials and semiconductor-related equipment, with new products expected to be launched across those domains.
The customer base in those segments has topped 100 corporate customers, Venture said.
When asked about the impact of the Covid-related lockdowns in Shanghai, Venture noted it has temporarily halted operations at two plants there for three weeks.
“The impact to our financial performance is estimated to be less than 1 percent of the group’s annual revenue. We expect to be able to recover the revenue shortfall in the coming weeks when full production resumes,” Venture said.