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…