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
05
InnoTek's net cash position as at
31 December 2015 remained healthy
at S$19.9 million (up from S$14.2
million a year earlier), comprising
S$25.2 million total cash balance less
total borrowings of S$5.3 million.
Loss per share for FY'15 narrowed
to 2.33 Singapore cents compared
to 7.93 Singapore cents in FY'14.
Net asset backing per share as at
31 December 2015 came to 51.9
Singapore cents compared to 58.6
Singapore cents a year ago.
BUSINESS REVIEW
Although China’s office automation
manufac turing sec tor, is facing
rising competition and labour costs,
impacted by the relocation of leading
Japanese brands to lower cos t
centres such as Vietnam, it continues
to remain strong. In fact, automotive
manufacturing in China is expected
to grow fur ther spurred by the
emergence of electric vehicles and
the Group intends to leverage on this
trend.
The automotive business, with its
longer product lifecycle and overall
growth trend, will continue to remain
an important and stable market for
us.
The global TV market growth, while
exhibiting potential amidst demand
for larger screens, faces aggressive
price competition for smaller and
mid-range screens from emerging
Chinese brands. Rising consumer
affluence and introduction of 4K
content is driving demand for bigger
f lat-screen TV panels which can
support higher resolutions. At this
premium sector, the preference is for
metal TV bezels that are sturdier than
plastic ones. Under the leadership
of the new management, we will
seek to penetrate this sub-sector
more aggressively, especially among
Japanese manufacturers who remain
in China.
BOARD AND MANAGEMENT
CHANGES
Changes to The Board of
Directors
Mr. Lou has assumed the role of
E xecutive Direc tor and CEO of
Mans f ield Group. He has deep
e x p e r i e n c e i n t h e c o n s ume r
electronics and home appliances
businesses in Asia, and will be an
invaluable asset to the Group. We
look forward to his contributions in
the coming year.
Apart from Mr. Lou's appointment,
there have been sever al other
changes to our Board of Directors
and management.
Sun Mansfield Plant
Mansfield Suzhou Plant
