InnoTek Limited

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

SGX-Listed InnoTek announces Q111 Net Profit of S$0.3 Million on Revenue of S$91.3 Million
SINGAPORE, 9 May 2011 Singapore Exchange Mainboard-listed InnoTek Limited (InnoTek or the Group) announced today that it recorded a net profit after tax of S$0.3 million for the first quarter ended 31 March 2011 (Q111) on revenue of S$91.3 million. The Groups turnover decreased by S$2.3 million or 2.4% to S$91.3 million from S$93.6 million in Q110 as its wholly owned Mansfield Manufacturing Company Limited (MSF) experienced softer demand for TV components from its stamped component business. InnoTeks Q111 net profit of S$0.3 million, was S$3.2 million lower compared to S$3.5 million in Q110 due mainly to lower revenue, higher steel prices and increases in PRC minimum wages for major subsidiaries since Q210. The delay by a major office automation customer to roll out new higher-margin products combined with lower sales volume of higher-margin TV components also affected the Q111 MSF net profit. However, the decrease in profit was mitigated by lower administration and selling and distribution expenses. The Company reported a loss of S$0.7 million, slightly higher by S$0.1 million, due to unrealized exchange loss of its US$ denominated intercompany loan to MSF as a result of the weakening of the US$/S$ exchange rate. Earnings per share for Q111 was 0.15 cent. Net asset backing per share as at 31 March 2011 stood at 84.7 cents compared to 85.4 cents as at 31 December 2010. The Groups financial position remains healthy, with net cash position of S$45.0 million or 19.8 cents per share, comprising cash and cash equivalents of S$71.0 million less total borrowings of S$26.0 million, as at 31 March 2011. The directors expect Q211 performance to be affected by the supply chain disruption experienced by certain major office automation and consumer electronic customers following the March 2011 earthquake and tsunami in Japan. As such, Q211 revenue is expected to be weaker than Q111. The full impact of the earthquake in Japan on 2H2011 revenue is difficult to ascertain currently. We expect the Groups performance for the rest of 2011 to be challenging, said InnoTek Group Managing Director Mr Yong Kok Hoon. In the meantime, we continue to focus on improving cost management and

Media Release SGX-Listed InnoTek announces Q111 Net Profit of S$0.3 Million on Revenue of S$91.3 Million 9 May 2011 Page 2 of 2 _____________________________________________________________________________

operational efficiency to mitigate the impact of the Japan disaster, inflationary cost and the strengthening of the renmenbi. We will also continue to diversify our products and customer base, he added. In line with the Groups long-term growth strategy, we will continue to actively pursue appropriate merger and acquisition opportunities. We will maintain our cautious stance, focusing on earnings-accretive businesses, and stringently evaluate feasible investment proposals, he added.
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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 over 10 manufacturing facilities across China and Europe, the Groups wholly owned subsidiary, Mansfield Manufacturing Company Limited (MSF), provides precision metal stamping, commercial tool and die fabrications, sub-assembly work and frame manufacturing services to a strong and diversified base of Japanese and European end-customers. For more information, visit: www.innotek.com.sg InnoTek Limited contact: InnoTek Ltd 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 Lai Kwok Kin, laikkin@wer1.net Josephine Auxilio, josephine@wer1.net