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News

Profit Guidance For The Period Ended 31 December 2008

The Board of Directors of HLN Technologies Limited (the "Company" or "Group"), after evaluating the latest preliminary results, deems it appropriate to provide guidance on the Group's profits for the financial year ended 31 December 2008 ("FY2008").

The Company announced a net loss attributable to shareholders of S$423,000 in its half year 2008 results announcement released on 14 August 2008. In the same announcement, the Company has also indicated that it will strive to turn around its losses in the second half year.

The Group is pleased to announce that it has turned around in the second half year and is expected to be profitable for FY2008, although FY2008 profits would be substantially lower compared to the financial year ended 31 December 2007 ("FY2007"). The lower profits were contributed by lower sales, loss on disposal of assets, impairment charges and provisions. Notwithstanding the lower profitability, the Group is expected to register significant positive operating cash flows and stronger financial position compared to FY2007.

The second half year profitability was achieved despite having registered a loss on disposal of more than S$300,000 in respect of the Group's divestment of its Singapore metal service centre business as announced on 15 September 2008.

Further details of the Group's financial performance will be disclosed when it announces its un-audited financial results for FY2008 in February 2009.

By order of the Board



Wa Kok Liang
Group CEO / Executive Director
19 January 2009