InnoTek Limited

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

SGX-Listed InnoTek Announces FY12 Results

MSF (S$ Million) Continuing Operations Turnover Net (Loss) / Profit MSF Net (Loss)/Profit Corporate (Loss)/Profit Total Basic EPS (cents) 51.7 72.9 (21.2) (29.1) 258.9 312.1 (53.2) (17.1) Q412 Q411 Q412 vs Q411 Change % FY12 FY11 FY12 vs FY11 Change %

(8.4) (0.0) (8.4) (3.75)

(1.3) (0.8) (2.1) (0.91)

(7.1) 0.8 (6.3) (2.84)

(571.0) 93.9 (309.4) (312.1)

(17.1)* (0.8) (17.9)* (8.25)

1.2 (2.1) (0.9) (0.39)

(18.3) 1.3 (17.0) (7.86)

NM 62.2 NM NM

* Excluding S$0.6 million loss from disposal of MICL;

NM Not Meaningful

SINGAPORE, 26 February 2013 SGX Mainboard-listed InnoTek Limited (InnoTek or the Group) announced today its results for the financial year ended 31 December 2012 (FY12). The precision metal components specialist said revenue from all three business divisions declined to S$258.9 million in FY12 from S$312.1 million. This is due mainly to the economic slowdown in China, fierce competition within the TV components sector and the recent political tension between China and Japan. The Groups continuing operations under wholly owned Mansfield Manufacturing Company Ltd (MSF) reported a net loss of S$17.1 million compared to S$1.2 million net profit in FY11. This is caused primarily by the significant reduction in revenue and lower gross profit margin. The poor performance was also aggregated by the start-up loss of S$4.2 million from the new mobility business. Additionally, the new plant in Wuhan suffered a loss of S$1.1 million due to lower than expected revenue as major Japanese automotive customers disrupted their production plans as a result of the China-Japan political tension. During FY12 the Group incurred plant consolidation expenses in Donggan and Suzhou of S$0.3 million and S$0.2 million respectively. The restructuring expenses in both locations also resulted in retrenchment expenses of S$2.5 million from the reduction in headcount. Despite the loss during the period, the continuing operations generated positive cash from operations of S$3.7 million mainly due to the positive net working capital changes amounting to S$7.8 million. These reduction in working capital

Media Release SGX-Listed InnoTek Announces FY12 Results 26 February 2013 Page 2 of 3 _____________________________________________________________________________

came mainly from lower inventories of S$8.2 million, lower trade and other receivables of S$15.1 million and lower payables of S$16.1 million. The Groups financial position remains healthy as net cash position stood at S$19.7 million or 8.78 cents per share, comprising cash and cash equivalents of S$35.8 million less total borrowings of S$16.1 million as at 31 December 2012. For the three months ended 31 December 2012 (Q412), the Groups revenue from continuing operations declined by S$21.2 million or 29.1% to S$51.7 million from S$72.9 million recorded in Q411. For the full year, corporate loss reduced by S$1.3 million to S$0.8 million compared to S$2.1 million loss in FY11. The FY11 losses included provision of S$2.6 million for impairment loss on 15 million units of Sabana Shares and S$0.4 million project expenses on aborted M&A activities. These were mitigated by a gain of $1.8 million from the disposal of the Daylight Solution investment. Loss per share from the Groups continuing operations for FY12 was 8.25 cents compared to 0.39 cent in FY11. Net asset backing per share as at 31 December 2012 stood at 70.0 cents compared to 84.6 cents as at 31 December 2011. Despite the operational loss in FY12, the Group remains committed to maintaining shareholder value and has proposed to distribute a first and final one-tier tax exempt dividend of 1.0 cent per share from non-operating income. This non-operating income comprises dividends received in FY12 from Sabana and proceeds from the sale of Mansfield Industrial Co. Ltd which will be received by March 2013. Commenting on the results, Group Managing Director of InnoTek, Mr. Yong Kok Hoon, said, The Group continues to be impacted by the slower economic growth globally particularly in China. Japanese TV-related customers continue to face fierce competition from other countries. Production volumes of the Groups Japanese customers in the automotive and OA sub-sectors are affected by the on-going political tension between China and Japan. However, significant restructuring efforts to optimize production across all facilities have improved efficiency, positioning us to capture opportunities during any upturn, he said. Barring unforeseen circumstances, the Directors expect performance in Q113 to improve compared to Q412 and FY13 performance to improve over FY12 with the restructuring and rightsizing of operations. ## End of Release ##

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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 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

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