Interim Financial Statements and Dividend Announcement

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Multi-Chem Limited Registration No. 198500318Z Interim Financial Statements and Dividend Announcement For the financial period from 1 January 2013 to 31 March 2013 A review of the financial performance of the group, to the extent necessary for a reasonable understanding of the group’s business. It must include a discussion of the following:- (a) any significant factors that affected the turnover, costs, and earnings of the group for the current financial period reported on, including (where applicable) seasonable or cyclical factors; and (b) any material factors that affected the cash flow, working capital, assets or liabilities of the group during the current financial period reported on. REVENUE The Group achieved a turnover of $54.1m for the three months ended 31 March 2013 (“1Q2013”), a decrease of 8.9% or $5.3m compared to the revenue of $59.4m for the three months ended 31 March 2012 (“1Q2012”). Comparing 1Q2013 to three months ended 31 December 2012 (“4Q2012”), the Group revenue decreased by 12.6% or $7.8m, from $61.9m to $54.1m mainly due to a traditionally slower first quarter and poor economic conditions. For 1Q2013, the IT distribution business accounted for 92.0% of Group revenue, while the manufacturing service accounted for the remaining 8.0% of Group revenue. Multi-Chem Limited, Page 10 of 22
Multi-Chem Limited Registration No. 198500318Z Interim Financial Statements and Dividend Announcement For the financial period from 1 January 2013 to 31 March 2013 REVENUE PCB Division Revenue in this Division decreased by 38.0% or $2.7m, from $7.1m in 1Q2012 to $4.4m in 1Q2013, due to the slow economic recovery pace in US and Europe. Comparing 1Q2013 to 4Q2012, revenue in this Division decreased by 17.0% or $0.9m from $5.3m in 4Q2012 to $4.4m in 1Q2013 as due to a traditionally slower first quarter. IT Division The IT distribution business achieved a quarterly revenue of $49.7m in 1Q2013, a decrease of 5.0% or $2.6m, from $52.3m in 1Q2012. The decrease in sales was largely due to the poor economic situation. This is especially true when Singapore experience a contraction of 0.6% in 1Q2013 as compared to growth of 1.6% in 1Q2012. Comparing 1Q2013 to 4Q2012, revenue decreased by 12.2% or $6.9m, from $56.6m in 4Q2012 to $49.7m in 1Q2013. The decrease in sales was largely due to a traditionally slower first quarter as the IT business is historically weighted more heavily in the 2nd half of the year compared to the 1st half year. Multi-Chem Limited, Page 11 of 22
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Interim Financial Statements and Dividend Announcement

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