InnoTek Limited

1 Finlayson Green, #15-02, Singapore 049246. Tel: (65) 6535 0689 Fax: (65) 6533 2680 Reg. No. 199508431Z

SGX-Listed InnoTek Achieves a Marginal Profit in Q213

SINGAPORE, 12 August, 2013 SGX Mainboard-listed InnoTek Limited (InnoTek or the Group) announced today that it achieved a marginal profit of S$32,000 for the quarter ended 30 June, 2013 (Q213) reversing a loss since Q411 on the back of improved operating efficiencies due to consolidation and restructuring since Q112 and a one-off gain of S$0.4 million on disposal of a factory in Donguan, China. While revenue from the precision metal components specialists continuing operations declined 17.9% or S$12.7 million to S$58.3 million from S$71.0 million in Q212, its wholly-owned Mansfield Manufacturing Company (MSF) recorded a S$0.1 million profit in Q213, reversing a loss of S$1.5 million (excluding S$0.6 million loss due to the disposal of Mansfield Industrial Co. Ltd (MICL)) a year earlier. Revenue of the Groups Precision Components and Tooling businesses declined S$6.1 million to S$53.3 million from S$59.4 million a year earlier while that of the Precision sub-assembly segment declined by S$6.6 million to S$5.0 million from S$11.6 million. Sales continued to be impacted by slower economic growth in China and JapanChina political tensions which affected major Japanese customers of office automation, consumer electronics products, and TV components. However, this was partially offset by higher demand for automotive products, mainly from nonJapanese customers. Following consolidation and restructuring effort since Q112, the Group broke even in Q213, reversing the S$2.2 million loss in Q212. The reorganisation lowered administrative expenses by S$3.4 million, or 30.2%, to S$7.9 million from S$11.3 million in Q212. Apart from consolidating two Dongguan plants and freeing up the old rented Suzhou plant in FY12, the Hong Kong premise was also sold in Q213. Additionally, deployment of excess equipment to capture new business opportunities in the newly secured TV frame products mitigated losses in Q213. For the six months ended 30 June, 2013 (1H13), the Groups net loss from continuing operations narrowed to S$1.4 million from S$6.0 million in 1H12 despite the decline in revenue of S$24.9 million to S$116.4 million from S$141.3 million in 1H12.

Media Release SGX-Listed InnoTek Reverses Loss to Profit in Q213 12 August 2013 Page 2 of 3 _____________________________________________________________________________

The Groups Q213 earnings per share improved to 0.01 cent compared to a loss per share of 0.99 cent in Q212. Net asset backing per share as at 30 June 2013 stood at 71.2 cents compared to 70.0 cents as at 31 December 2012. The Groups financial standing remains healthy with a net cash position of S$18.0 million or 8.00 cents per share, comprising cash and cash equivalents of S$25.8 million less total borrowings of S$7.8 million as at 30 June 2013. The increase in market value of the 15 million Sabana Reits shares held, from S$1.140 as at 31 December 2012 to S$1.155 as at 30 June 2013, resulted in a fair-value gain of S$0.2 million recognised under other comprehensive income. Group Managing Director of InnoTek, Mr. Yong Kok Hoon, commented, The Group has continued to pursue cost efficiencies as part of efforts to return to profitability. However, the manufacturing sector in China has slowed, along with economic growth, affected by rising operating costs, particularly wages. The Group also faces ongoing price competition from local enterprises and producers of other countries, especially South Korea. Despite the improved performance, the Directors remain cautious about the Groups outlook for Q313 and 2H13. The Group will continue to streamline its operations to achieve further cost efficiencies. ## End of Release ## About InnoTek Limited
Singapore Exchange Mainboard-listed InnoTek Limited (together with its subsidiaries the Group) is a precision metal components manufacturer, serving the consumer electronics, office automation and automotive industries. With six manufacturing facilities in the PRC, the Groups wholly-owned subsidiary, Mansfield Manufacturing Company Limited (MSF), provides precision metal stamping, commercial tool and die fabrications and sub-assembly works to a strong and diversified base of Japanese and European end-customers. For more information, visit: www.innotek.com.sg

Media Release SGX-Listed InnoTek Reverses Loss to Profit in Q213 12 August 2013 Page 3 of 3 _____________________________________________________________________________

InnoTek Limited contact:

InnoTek Limited 1 Finlayson Green, #15-02, Singapore 049246 Tel: (65) 6535 0689, Fax: (65) 6533 2680 Linda Sim, lindasim@innotek.com.sg Yong Kok Hoon, khyong@innotek.com.sg Investor relations contact: WeR1 Consultants Pte Ltd 38A Circular Road, Singapore 049394 Tel: (65) 6737 4844, Fax: (65) 6737 4944 Josephine Auxilio, josephine@wer1.net Lai Kwok Kin, laikkin@wer1.net

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