Shares of Grand Venture Technology (SGX:JLB) surged 11.57% in intraday trading, as the company reassured investors about its growth prospects despite concerns over US tariffs affecting regional partners.
The technology services company reaffirmed its revenue guidance for the first half of 2025, projecting earnings between SG$90 million to SG$96 million. This positive outlook comes at a time when many regional companies are grappling with potential implications from US President Donald Trump's tariff policies, demonstrating Grand Venture's resilience in the face of trade uncertainties.
Grand Venture's confidence stems from its limited exposure to the US market, which accounted for less than 10% of the company's revenue in 2024. Additionally, the company highlighted that over 70% of its exports originate from Singapore, which is subject to the lowest applicable tariff under the latest trade measures. To further mitigate risks, Grand Venture is in discussions with customers to redirect US-bound exports to manufacturing sites in Asia, potentially avoiding disruptions and cost impacts associated with the new tariffs.
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