1.
CORPORATE INFORMATION
InnoTek Limited (the “Company”) is a limited liability company incorporated and domiciled in Singapore
and is listed on the Singapore Exchange Securities Trading Limited (“SGX-ST”).
The registered office and principal place of business of the Company is located at 390 Orchard Road,
#14-01 Palais Renaissance, Singapore 238871.
The principal activity of the Company is investment holding. The principal activities of the subsidiaries
are those of manufacturing and sale of precision metal stamping components, tooling and die-making,
sub-assembly of stamped components, frame components and investment holding. There has been no
significant change in the nature of these activities during the year.
2.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
2.1
Basis of preparation
The consolidated financial statements of the Group and the balance sheet and statement of changes in
equity of the Company have been prepared in accordance with Singapore Financial Reporting Standards
(FRS).
The financial statements have been prepared on the historical cost basis except for investment properties,
financial assets and liabilities at fair value through profit or loss and available-for-sale financial assets that
have been measured at their fair values.
The financial statements are presented in Singapore Dollars ($) and all values in the tables are rounded
to the nearest thousand ($’000), except when otherwise indicated.
2.2
Changes in accounting policies
The accounting policies adopted are consistent with those of the previous financial year except in the
current financial year, the Group has adopted all the new and revised standards which are effective for
annual periods beginning on or after 1 January 2015. The adoption of these standards did not have any
effect on the financial performance or position of the Group and the Company.
I N N O T E K L I M I T E D
A N N U A L R E P O R T 2 0 1 5
50
NOTES TO THE FINANCIAL
STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2015
