ABOUT EXCELPOINT TECHNOLOGY LIMITED

Excelpoint Technology Ltd is a design and development engineering solutions provider serving OEMs, CMs and sub-contractors in various industries including telecommunications, consumer electronics, industrial and instrumentation electronics, automotive, computers and computer peripherals.

OUR BUSINESS MODEL

OEM / EMS Sub-System Manufacturing Design & Development Services Supply Chain Management Field Application Services Value Added Distribution Distribution

OUR ROLE IN THE CUSTOMER’S VALUE CHAIN

We are the “Solutions Partner”; providing ”One-Stop Solution” to meet customer requirement. A value chain service from product concept, development, attain international approval, manufacturing; till door-step delivery.

Client Product Concept Proto Develop ment H/W Develop ment S/W Develop ment Product Test & Qual Pre/Mass Production Mktg & Sales After Sales

Our Design & Development Services Option

Reference Design; Design Review, Services and Applications Production Test Plan & Systems Pre-testing International Type Approval & Qualifications Development, Prototype, Mass Production & Logistics Marketing & Sales Turnkey Project Management

A REVIEW OF OUR Q4 & FY 2004 FULL YEAR PERFORMANCE

*

Q4 FY2004

KEY CUSTOMERS

•

TCL MOBILE

•

SHANGHAI SUNCOM

•

FLEXTRONICS

•

BELL SYSTEMS

•

MIDAS COMMUNICATION

OUR BUSINESS STRATEGY

DESIGN-IN

•

Leverage and complement upon the strengths of our principal’s chipset solutions.

•

Focus on our value add on creating new applications, cost down, and productization.

•

Differentiate by controlling software embedded into our solutions.

OUR BUSINESS STRATEGY

DESIGN-IN

•

Provide risk sharing models with low Non Recurring Engineering charges (NRE) to encourage customers to adopt our solutions.

•

Develop innovative reference solutions to assist our customers to differentiate themselves from their competitors.

ENGINEER VS EMPLOYEE PROFILE

FY Q1-04 Q2-04 Q3-04 Q4-04 FY03 Var(%) No. of Employees 440 463 No. of Engineers 108 483 497 421 18 110 111 121 87 39

D&D AND FIELD ENGINEERS vs NON ENGINEERING STAFF

(nos of persons)

2004 121 2003 87 2002 292 88 2001 2000 0

* Forecast

40 50 54 194 253 100 150 200 250 300 D& D & Field Engineers Mgmt, Mktg & Others 334 350 376 400

OUR GEOGRAPHIC REACH

Excelpoint has a network of 36 subsidiaries and representative offices located across the Asia Pacific.

EXCELPOINT’S GEOGRAPHIC FOOTPRINTS SINGAPORE

Headquarter • • • • • • • • •

CHINA

Beijing Chengdu Xian Nanjing Qingdao Shanghai Xiamen Shenzhen Dong Guan •

HONG KONG

• •

MALAYSIA

Kuala Lumpur Penang

•

PHILIPPINES

Manila

•

THAILAND

Bangkok

• • • • •

INDIA

New Delhi Mumbai Pune Hyderabad Bangalore •

AUSTRALIA

Sydney

OUR FINANCIAL PERFORMANCE

1,100,000 900,000 700,000 500,000 300,000 100,000 -100,000

REVENUE

(in S$'000)

651,490 211,926 164,767 145,626 129,171 2003 Rev

Q1

50 %

Q2

976,542 184,868 245,557 287,455

Q3

258,662 2004 Rev

Q4

NET PROFIT AFTER TAX

(in S$'000)

15000

10,689

10000 5000 0 3,721

4,880 589 1,499

FY 2003 -5000

4,355 5,915

3,632 FY 2004

-1,722

Q1 Q2 Q3 Q4 Full Year

12,180

NET PROFIT AFTER TAX MARGIN (%) 2.5

2 1.5

1 0.5

0 -0.5

-1 -1.5

1.7

Q1FY04 2.1

Q2FY04 1.5

Q3FY04 Q4FY04 -0.9

CORE BUSINESSES Q404

• Design-in Services • Distribution Services

Distribution Services 49.6%*

* By Revenue

Design-in Services 50.4%*

300,000 200,000 100,000 0

REVENUE BY BUSINESS ACTIVITY

(in S$'000)

76,754 91,656 135,172 93,212 Q4 2003 Design-in Distribution Q4 2004

1,000,000 900,000 800,000 700,000 600,000 500,000 400,000 300,000 200,000 100,000 0

REVENUE BY BUSINESS ACTIVITY

(in S$'000)

361,495 260,133 615,047 391,357 FY2003 Design-in FY2004 Distribution

India 6% REVENUE BY GEOGRAPHIC LOCATIONS

(S$ '000) - Q404

M'sia 7% Others 10% S'pore 17% China 60%

WORKING CAPITAL MANAGEMENT

(Days)

90 80 70 60 50 40 30 20 10 0 60 53 46 65 Debtors' T/O 81 63 52 70 Creditors' T/O 50 40 35 51 Inventory T/O 2002 2003 FY2004 Q4 FY2004

CASH FLOW

(S$ ‘000)

•

Operating cash flows before reinvestment in working capital

•

Net cash flows from/ (used in) operating activities

•

Net cash flows used in investing activities

•

Net cash flows used in financing activities

•

Cash & Cash equivalents at period end Q4 2004 (372) 5,180 (421) (30,490) 20,683 Q4 2003 6,989 8,786 (201) (2,432) 20,253

CASH FLOW

(S$ ‘000)

•

Operating cash flows before reinvestment in working capital

•

Net cash flows used in operating activities

•

Net cash flows used in investing activities

•

Net cash flows from financing activities (Includes net IPO proceeds of $34 million)

•

Cash & Cash equivalents at period end FY2004 20,188 (14,001) (1,413) 17,764 20,683 FY2003 17,064 (3,211) (971) 11,576 20,253

FY KEY FINANCIAL HIGHLIGHTS Q4-04 Q4-03 Var.(%) 2004 2003 Var.(%) Revenue (S$m) 184.9 211.9 12.8 976.5 651.5 49.9

Op Profit (S$m) -0.8

6.5 - 111.6 18.7 15.6 20.1

PAT (S$m) -1.7

4.9 - 135.3

12.2

10.7 13.9

EPS (cents) * ROE (%) - 0.35 1.40 -125.0 2.52 3.07 - 17.9

- 2.5

19.2 - 113.0 17.5 42.2 - 58.5

* For comparative purposes, EPS is calculated based on profit attributable to shareholders and the weighted average post-invitation share capital of 482,378,299 (Q4, FY2003: 347,971,200).