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Innotek Limited……unexciting but steady business…….but the share is significantly undervalued so definitely worth looking at !!

by Kevin Scully on August 20, 2009

Photo from Kevin's blog

Photo from Kevin's blog

A Blog visitor asked me about Innotek some weeks ago….the balance sheet looked very good……so we arranged for a company visit which could only be granted after the release of its Q2-2009 results in the middle of last week.  I went for the visit with a fund manager.   The shares have risen to pass S$0.40 on high volume on Thursday and Friday last week but still look cheep.

The Q2-2009 results were better than expected with revenue flat at about S$93mn and net profit of S$4.96mn compared to loss in Q1-2009 of S$3.3mn.  Part of this profit came from a writeback of S$2.6mn in previous doubtful debt provisions. Read more…


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