InnoTek Limited

(Formerly known as Magnecomp International Limited)

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

InnoTek’s 2Q’09 Net Profit Rises

Sharply To S$4.4 Million; Group
Expects To Report Profit For FY2009
After Losses in FY2008

Group benefiting from combination of lower material costs and better cost-
management and operational efficiencies achieved by subsidiary Mansfield
Manufacturing Company Limited (“MSF”) despite marginally lower revenue
due to lower global demand for flat panel TVs following financial and
economic crises

1H’09 net profit rises to S$3.6 million from S$2.8 million in 1H’08

Group remains in healthy financial position with positive operating cash

flow and a net cash position of approximately S$43.0 million

Group expects to return to profitability in FY2009 after net loss of S$7.0

million in FY2008, and will continue to explore M&A opportunities

S$ Mil 2Q’09 2Q’08 Change Change %

Continuing Operations*
MSF Turnover 93.1 93.9 (0.8) (0.9)
MSF Profit/ (Loss) 7.0 * 0.4 6.6 NM
Corporate (2.6) (0.2) (2.4) NM
Group Net Profit/ (Loss) 4.4 0.2 4.2 NM
Basic EPS (cents) 1.89 * 0.06 1.83 NM

* Include reversal of S$2.4 million or 1.03 cents per share provided in 1Q’09 for certain trade debtors
NM Not meaningful
MSF Mansfield Manufacturing Company Limited & its subsidiaries
 Media Release – InnoTek’s 2Q’09 Net Profit Rises Sharply to S$4.4 million
12 August 2009
Page 2 of 3
________________________________________________________________________

SINGAPORE, 12 August 2009 – Mainboard Listed InnoTek Limited (“InnoTek”

or “the Group”) announced today that its net profit after tax for the quarter ended
30 June 2009 (“2Q’09”) rose 32-fold to S$4.4 million from S$0.2 million a year
earlier on continued improvements in operational efficiency and cost-
management, as well as lower raw material prices.

The sharp increase in profit was achieved despite a marginal decline in revenue
to S$93.1 million from S$93.9 million, recorded by its wholly owned precision
metal components business, Mansfield Manufacturing Company Limited (“MSF”).
MSF posted a net profit of S$7.0 million in 2Q’09, up from S$0.4 million, over the
comparative period.

The Group’s 2Q’09 net profit included a reversal of S$2.4 million of provision for
doubtful debts initiated in 1Q’09 in view of the economic crisis.

For the six months ended 30 June 2009 (“1H’09) InnoTek reported a net profit of
S$3.6 million, up 31.4% from S$2.8 million. Half-year revenue declined to
S$176.7 million from S$201.9 million due to lower stamping and assembly sales
as a result of lower global demand for flat panel TVs.

At the corporate level InnoTek recorded a loss of S$2.6 million in 2Q’09,

compared to S$0.2 million in 2Q’08, due mainly to a foreign exchange loss of
S$1.1 million (due to weakening of US$). In 2Q’08 the Group had recorded a
reversal of provision of warranties and additional proceeds arising from the sale
of Magnecomp Precision Technology Public Company Limited completed in
November 2007.

The Group recorded an earnings per share (fully diluted) of 1.89 cents for 1Q’09,
up from 0.06 cent in 1Q’08; and EPS of 1.56 cents for 1H’09, up from 1.18 cents
in 1H’08.

The Group remains in a healthy financial position, having generated S$18.1

million of positive operating cash flow in 2Q’08. As at 30 June 2008, the Group
had a cash balance of approximately S$95.0 million with total borrowings of
S$52.0, amounting to a net cash position of S$43.0 million.

Commenting on the outlook, the Group said some indications of order flow
stabilization had returned following concerted efforts by various Governments in
recent months to inject liquidity and revive economic growth.

2
 Media Release – InnoTek’s 2Q’09 Net Profit Rises Sharply to S$4.4 million
12 August 2009
Page 3 of 3
________________________________________________________________________

While fluctuations of raw material prices could impact margins, the Group will
continue to improve operational efficiencies and cost management. “While the
outlook in the coming months remains uncertain, the Directors expect that in the
absence of any further deterioration of business conditions, the Group will record
a profit for FY2009,” management commented.

The Group will continue to explore merger and acquisition opportunities with
caution, focusing on earnings-accretive businesses and will stringently evaluate
feasible investment opportunities.
~ End ~

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 Group’s 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

29 Scotts Road
Singapore 228224
Tel: (65) 6737 4844, Fax: (65) 6737 4944
Lai Kwok Kin, laikkin@wer1.net
Mona Leong, monaleong@wer1.net