Grand Venture Technology (SGX:JLB) reaffirmed its growth outlook despite a majority of the region's companies bracing for significant implications from US President Donald Trump's tariffs on regional partners.
The company has also reaffirmed its revenue guidance for the first half of the year at SG$90 million to SG$96 million, according to a filing with the Singapore Exchange on Monday.
The US accounted for less than 10% of the company's revenue during 2024 and the company does not expect a significant increase in US-bound exports in 2025. Moreover, more than 70% of the group's exports come from Singapore, which is subject to the lowest applicable tariff under the latest trade measures, it said.
Meanwhile, the group is in discussions with its customers to redirect US-bound exports to manufacturing sites in Asia, therefore avoiding potential disruptions or cost impacts.
Shares of the technology services company surged nearly 10% in recent trading.
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