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Last $0.24 SGD
Change Today 0.00 / 0.00%
Volume 0.0
INNOT On Other Exchanges
Symbol
Exchange
Singapore
As of 1:00 AM 05/26/15 All times are local (Market data is delayed by at least 15 minutes).

innotek ltd (INNOT) Snapshot

Open
$0.24
Previous Close
$0.24
Day High
$0.24
Day Low
$0.24
52 Week High
07/21/14 - $0.42
52 Week Low
03/9/15 - $0.20
Market Cap
57.2M
Average Volume 10 Days
39.6K
EPS TTM
$-0.12
Shares Outstanding
243.5M
EX-Date
05/6/14
P/E TM
--
Dividend
--
Dividend Yield
4.26%
Current Stock Chart for INNOTEK LTD (INNOT)

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innotek ltd (INNOT) Details

InnoTek Limited, an investment holding company, operates as a precision metal components manufacturer primarily in Singapore. Its Precision Components and Tooling Assembly segment provides tooling design and fabrication, and die making services to the manufacturers of automotive components, and office automation and consumer electronics products, as well as sells stamping components. The company’s Precision Subassemblies segment offers subassembly products for the television (TV) and office automation industries; and metal-related components for use in the TV, tablet, and mobile-phone industries. It serves customers in Hong Kong, the People’s Republic of China, Singapore, and Europe. The company was formerly known as Magnecomp International Limited and changed its name to InnoTek Limited in November 2007. InnoTek Limited was founded in 1984 and is based in Singapore.

Founded in 1984

innotek ltd (INNOT) Top Compensated Officers

Chief Financial Officer and Corporate Control...
Total Annual Compensation: $186.5K
Chief Financial Officer of Mansfield Manufact...
Total Annual Compensation: $193.5K
Compensation as of Fiscal Year 2013.

innotek ltd (INNOT) Key Developments

InnoTek Limited Announces Audited Consolidated Earnings Results for the Year Ended December 31, 2014

InnoTek Limited announced audited consolidated earnings results for the year ended December 31, 2014. For the year, the company reported revenue of SGD 225,580,000 compared to SGD 246,948,000 a year ago. Loss before taxation was SGD 28,647,000 compared to profit before taxation of SGD 548,000 a year ago. Loss for the year attributable to owners of the company was SGD 28,228,000 or 12.61 cents per basic and diluted share compared to profit for the year attributable to owners of the company of SGD 926,000 or 0.41 cents per basic and diluted share a year ago. Net cash flows used in operating activities were SGD 4,780,000 compared to SGD 806,000 a year ago. Purchase of property, plant and equipment was SGD 3,134,000 compared to SGD 5,135,000 a year ago. Additions to intangible assets were SGD 37,000 compared to SGD 810,000 a year ago.

InnoTek Limited, Annual General Meeting, Apr 29, 2015

InnoTek Limited, Annual General Meeting, Apr 29, 2015., at 09:30 Singapore Standard Time. Location: East India Rooms, Level 1. Agenda: To receive and adopt the directors' report and the audited accounts of the company for the year ended December 31, 2014 together with the auditors' report thereon; to re-elect directors; to approve the payment of directors' fees; to re-appoint Ernst & Young LLP as the company's auditors for the ensuing year and to authorize the directors to fix their remuneration; to authorize the directors to allot and issue shares in the capital of the company; to authorize the directors to offer and grant options in accordance with the provisions of the InnoTek employees' share option scheme II and/or the InnoTek employees' share option scheme 2014; and to transact any other business which may arise and can be transacted at an annual general meeting.

InnoTek Limited Reports Unaudited Consolidated Earnings Results for the Second Half, Fourth Quarter and Year Ended December 31, 2014; Reports Impairment Charges for the Fourth Quarter Ended December 31, 2014

InnoTek Limited reported unaudited consolidated earnings results for the second half, fourth quarter and year ended December 31, 2014. For the quarter, revenue was SGD 58.6 million against SGD 63.9 million last year. Loss before taxation and non-controlling interest was SGD 19.4 million against SGD 3.1 million last year. Loss, net of tax was SGD 17.7 million against SGD 2.4 million last year. Loss attributable to owners of the parent was SGD 17.7 million or 7.93 cents per basic and diluted share against SGD 2.3 million or 1.04 cents per basic and diluted share last year. Net cash used in operating activities was SGD 1.4 million against net cash generated from operating activities of SGD 3.8 million last year. Acquisition of property, plant and equipment was SGD 2.3 million against SGD 1.2 million last year. Additions to intangible assets was SGD 0.001 million against SGD 0.005 million last year. Revenue declined due to (1) revenue decline from the Tooling segment due to capacity loss as a consequence of the consolidation of the Tooling segment into the Precision Component segment, and (2) revenue decline from the Precision component segment due to lower demand for flat TV panels from two major Japanese manufacturers and the relocation of another Japanese customer out of China of. Revenue from automotive products also decreased towards the end of 2014 as current programmes goes end-of-life. This was offset by an increase in revenue from the Precision sub-assembly segment with the start of mass production of TV frames to new non-Japanese customers in the fourth quarter of 2014, mitigating the lower volume as a result of an early end-of-life of a major TV product in fourth quarter of 2013 from a major Japanese customer without replacement programmes. The group recorded lower net loss due mainly to: (1) higher exchange gain due to strengthening of the USD/HKD; (2) lower tax expense due to higher deferred tax assets; (3) higher fair value gain on investment property; and (4) net gain of SGD 0.1 million following the disposal of 752,000 Sabana Reit shares in the fourth quarter of 2014. For the year, revenue was SGD 225.6 million against SGD 246.9 million last year. Loss before taxation and non-controlling interest was SGD 28.6 million against profit before taxation and non-controlling interest of SGD 0.5 million last year. Loss, net of tax was SGD 28.3 million against profit, net of tax of SGD 0.9 million last year. Loss attributable to owners of the parent was SGD 28.2 million or 12.61 cents per basic and diluted share against profit attributable to owners of the parent of SGD 0.9 million or 0.41 cents per basic and diluted share last year. Net cash used in operating activities was SGD 4.6 million against net cash generated from operating activities of SGD 2.3 million last year. Acquisition of property, plant and equipment was SGD 4.7 million against SGD 5.1 million last year. Additions to intangible assets was SGD 0.04 million against SGD 0.8 million last year. Revenue declined due to (1) revenue decline in the Precision sub-assembly segment as a result of an early end-of-life of a major TV product in fourth quarter of 2013 from a major Japanese customer without replacement programmes, negated by higher TV frame sales ­ mass production started in fourth quarter of 2014 ­ to new non-Japanese customers; (2) revenue decline from the Tooling segment due to capacity loss as a consequence of the consolidation of the Tooling segment into the Precision Component segment, and (3) revenue decline from the Precision component segment due to lower demand for flat TV panels from two major Japanese manufacturers and the relocation of another Japanese customer out of China of. Revenue from automotive products also decreased towards the end of 2014 as current programmes goes end-of-life. The group's net loss increased due mainly to: (1) decline in MSF's GP margin to 9.1% in fiscal 2014 from 12.1% in fiscal 2013; (2) start-up costs incurred by the Precision sub-assembly segment in preparation for mass production of initial orders secured from established non-Japanese TV manufacturers in the first 9 months of fiscal 2014; (3) retrenchment expense of SGD 1.0 million incurred for fiscal 2014; and (4) compensation paid to a senior management staff who left the company in second quarter of 2014. For the second half, sales were SGD 116.6 million against SGD 130.6 million last year. Loss after tax before minority interest was SGD 20.6 million against profit after tax before minority interest of SGD 2.3 million last year. For the quarter, impairment loss of property, plant and equipment was SGD 16.7 million against SGD 1.3 million last year.

 

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