Revenue Sales of goods 11,763 4, Sales of services 1,502 1, Total revenue 13,265 5,

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1 ASIATIC (HOLDINGS) LIMITED PART I INFORMATION REQUIRED FOR ANNOUNCEMENT OF QUARTERLY (Q1,Q2 & Q3), HALF YEAR AND FULL YEAR RESULTS 1(a) (i) An income statement (for the group) together with a comparative statement for the corresponding period of the immediately preceding financial year For the Six Months ended 30 Sep Incr / (Decr) S$ 000 S$ 000 % Revenue Sales of goods 11,763 4, Sales of services 1,502 1, Total revenue 13,265 5, Costs and expenses Costs of good sold (10,024) (3,485) Salaries and employees benefits (1,337) (1,125) Depreciation and amortisation (151) (137) Foreign exchange (loss) / gain (17) (29) (41.38) Other operating expenses (835) (495) (12,364) (5,271) Profit from operations Finance costs (28) (7) Profit from ordinary activities before taxation Taxation (194) (120) Profit from ordinary activities after taxation Attributable to minority interests 30 - N.M. Profit retained transferred to revenue reserve N.M: Not meaningful 1(a) (ii) Additional information for the income statement Incr / (Decr) S$ 000 S$ 000 % Interest income Provision for doubtful debts (119) (83) Provision for stock obsolescence - (33) (100.00) Interest expenses (34) (14) N.M: Not meaningful

2 ASIATIC (HOLDINGS) LIMITED 1(b) (i) A balance sheet (for the issuer and group), together with a comparative statement as at the end of the immediately preceding financial year 30 Sep Mar Sep Mar 2004 S$ 000 S$ 000 S$ 000 S$ 000 Fixed assets 4,949 4, Investment in subsidiaries ,046 10,046 Goodwill on consolidation Quoted investment ,166 5,224 10,047 10,047 Current assets Inventories 2,349 2, Work-in-progress Trade receivables 6,117 3, Other receivables Amount due from subsidiaries Fixed deposits 2,252 2, Cash and bank balances 2,444 1, ,509 10, Current liabilities Trade payables 3,258 2, Other payables and accruals Progress billing in excess of work-in-progress Trust receipts 1, Hire purchase creditors current portion Provision for taxation ,854 3, Net current assets 7,655 7, Hire purchase creditors non-current portion (75) (106) - - Deferred taxation (26) (26) - - Net assets 12,720 12,262 10,603 10,546 Share capital 5,500 5,500 5,500 5,500 Share premium 4,876 4,876 4,876 4,876 Translation reserve (5) (2) Reserves 2,290 1, Shareholders' equity 12,661 12,170 10,603 10,546 Minority Interest (b) (ii) Aggregate amount of group s borrowings and debt securities 12,720 12,262 10,603 10,546 Amount repayable in one year or less, or on demand As at 30 Sep 2004 As at 31 Mar 2004 Secured Unsecured Secured Unsecured S$90,000 S$1,110,000 S$83,000 Nil Amount repayable after one year As at 30 Sep 2004 As at 31 Mar 2004 Secured Unsecured Secured Unsecured S$75,000 Nil S$106,000 Nil Details of any collateral Assets amounting to S$265,000 (31 Mar 2004: S$285,000) were financed under hire purchase.

3 ASIATIC (HOLDINGS) LIMITED 1(c) A cash flow statement (for the group), together with a comparative statement for the corresponding period of the immediately preceding financial year Cash Flow Statements S$ 000 S$ 000 Cash flows from operating activities Profit before taxation Adjustment for: Depreciation and amortisation Interest expense Interest income (4) (2) Provision for doubtful debts Currency alignment (6) - Operating cash flow before reinvestment in working capital 1, Decrease / (Increase) in inventories 36 (34) Decrease in work-in-progress (Increase) / Decrease in receivable (2,497) 1,302 Increase / (Decrease) in payable 2,219 (418) Cash generated from operations 1,572 2,308 Interest paid (34) (14) Interest received 4 2 Income tax paid (201) (423) Net cash flow from operating activities 1,341 1,873 Cash flows from investing activities Purchase of fixed assets (71) (48) Net cash used in investing activities (71) (48) Cash flow from financing activities Net proceed from IPO - 1,989 Dividends paid (215) (215) Repayment of hire purchase creditors (net) (46) (24) Net cash generated from/(used in) financing activities (261) 1,750 Net increase in cash and cash equivalents 1,009 3,575 Cash and cash equivalents at beginning of financial year 3,687 1,560 Cash and cash equivalents at end of financial period 4,696 5,135 Cash and cash equivalent consist of the following : Cash and bank balances 2,252 2,533 Fixed deposits 2,444 2,602 4,696 5,135

4 ASIATIC (HOLDINGS) LIMITED 1(d)(i) A statement (for the issuer and group) showing either (i) all changes in equity or (ii) changes in equity other than those arising from capitalisation issues and distributions to shareholders, together with a comparative statement for the corresponding period of the immediately preceding financial year. Share capital Share premium Revenue reserve / (accumulated losses) Translation Reserve S$ 000 S$ 000 S$ 000 S$ 000 S$ 000 Balance at 1 Apr ,500 4,876 1,796 (2) 12,170 Translation difference (3) (3) Net Profit for the year Balance at 30 Sep ,500 4,876 2,290 (5) 12,661 Balance at 1 Apr ,000 4, ,171 Issue of shares 1,500 1, ,300 Expenses relating to issue of shares - (1,312) - - (1,312) Net Profit for the year Balance at 30 Sep ,500 4,826 1,034-11,360 Balance at 1 Apr ,500 4, ,546 Net profit for the year Balance at 30 Sep ,500 4, ,603 Balance at 1 Apr ,000 4,338 (11) - 8,327 Issue of shares 1,500 1, ,300 Expenses relating to issue of shares - (1,312) - - (1,312) Net profit for the year Balance at 30 Sep ,500 4, ,384 Total

5 ASIATIC (HOLDINGS) LIMITED 1(d)(ii) Details of any changes in the company s share capital arising from rights issue, bonus issue, share buy-back, exercise of share options or warrants, conversion of other issues of equity securities, issue of shares or cash or as consideration for acquisition or for any other purpose since the end of the previous period reported on. State also the number of shares that may be issued on conversion of all the outstanding convertibles as at the end of the current financial period reported on and as at the end of the current financial period reported on and as at the end of the corresponding period of the immediately preceding financial year NIL 2. Whether the figures have been audited, or review and in accordance with which standard (e.g. the Singapore Standard on Auditing 910 (Engagements to Review Financial Statements), or equivalent standard) The figures have not been audited or reviewed. 3. Where the figures have been audited or reviewed, the auditors report (including any qualification or emphasis of matter). Not applicable. 4. Whether the same accounting policies and methods of computations as in the issuer s most recent audited annual financial statements have been applied. The Group has adopted the same accounting policies and methods of computation in the financial statements for the year ended 30 Sep 2004 as compared with the Group's audited financial information for the year ended 31 Mar If there are any changes in the accounting policies and methods of computation, including any required by an accounting standard, what has changed, as well as the reasons for, and the effect of, the change. Not applicable. 6. Earning per ordinary share of the group for the current period reported on and the corresponding period of the immediately preceding financial year, after deducting any provision for preference dividends. (a) Based on weighted average number of ordinary shares in issue 1.3 Cents 0.8 cents (b) On a fully diluted basis 1.3 Cents 0.8 cents Note: The earnings per ordinary share for the six months ended 30 September 2004 is calculated based on profit attributable to shareholders $709,000 (2003: $416,000) divided by weighted average 55,000,000 (2003: 52,500,000) ordinary shares of $0.10 each in issue. There are no potential dilutive ordinary shares. 7. Net asset value (for the issuer and group) per ordinary share based on issued share capital of the issuer at the end of the (a) current period reported on and (b) immediately preceding financial year. As at 30 Sep 2004 As at 31 Mar 2004 As at 30 Sep 2004 As at 31 Mar 2004 Net asset backing per ordinary share 23.2 cents 22.3 cents 19.3 cents 19.2 cents based on existing issued share capital as at the end of the period Note: The net asset backing per ordinary share as at 30 Sep 2004 is calculated based on 55,000,000 (31 Mar 2004: 55,000,000) ordinary shares in issue.

6 ASIATIC (HOLDINGS) LIMITED 8. A review of the performance of the group, to the extent necessary for a reasonable understanding of the group s business. The review must discuss any significant factors that affected the turnover, cost, and earning of the group for the current financial financial period reported on, including (where applicable) seasonal or cyclical factors. It must also discuss any material factors that affected the cash flow, working capital, assets or liabilities of the group during the current financial period reported on Revenue Incr / (Decr) S$ 000 S$ 000 % By business divisions - Fire-fighting and Protection 5,233 4, Controlled Power Supply 7,853 1, Precision gear products ,265 5, Group revenue rose by % to S$13.3 million for the six months ended 30 Sep 2004 from S$5.8 million for the comparative period in The increase in revenue was due to better sales recorded for all three business divisions. The largest increase was recorded in the Controlled Power Supply division which saw revenue grow by more than 400% or S$6.3 million due to contributions from the substantial completion of projects for UMCi and ST Microelectronics. The Group had announced in Mar 2004 that it had secured projects worth some S$9 million from the two semiconductor manufacturers with a significant portion of sales to be recognised in the financial year ending 31 Mar The Group's Fire Fighting and Protection division experienced a 24.5% hike in sales due to a recovery in the marine sector. Business for the first six months of FY2004 was affected by the SARS outbreak which resulted in fewer vessel arrivals. More aggressive marketing efforts for the Precision Gear Products division bore fruit with sales increasing by almost 160%. However contribution from this relatively new business was not significant. Profitability The Group s operating profit for the first six months of the financial year was S$0.91 million, a 65% jump from S$0.55 million in the comparative period. The operating profit margin however decreased to 6.8% from 9.4%, a drop of 2.6 percentage points. The decrease in operating profit margin was mainly due to the following factors: - An 187.6% increase in cost of goods sold from S$3.5 million to S$10.0 million the result of higher sales registered during the reporting period. Cost of sales outpaced revenue growth as a higher proportion of supplies for the Controlled Power Supply business was denominated in Euro which appreciated substantially against the Singapore dollar over the year. - Other operating expenses went up by S$0.34 million or 69% mainly from an increase in marketing costs incurred for the Controlled Power Supply business. Overhead expenses also rose with the start of operations of the Group s subsidiaries in Thailand and Malaysia. - With start-up of operating in Thailand and Malaysia, the Group s staff strength rose from 64 staff in HY2004 to 77 in HY2005. This together with the annual salary adjustments accounted for the increase in salaries and employee benefits by 18.8% to S$1.3 million. - Depreciation and amortisation charges increased by 10% due to additions to fixed assets. Cash Flow The Group s cash and cash equivalents increased to S$4.7 million from S$3.7 million mainly due to the positive operating cashflow of S$1.2 million. Financing activities resulted in a net outflow of S$0.26 million compared to an inflow of S$1.8 million in the corresponding preceding financial period which had the benefit of the Group s IPO proceeds.

7 ASIATIC (HOLDINGS) LIMITED 9. Where a forecast, or a prospect statement, has been previously disclosed to shareholders, any variance between it and the actual results. Actual results for the first half of FY2005 is in line with the comments made in the announcement of FY2004 full year results. 10. A commentary at the date of the announcement of the competitive conditions of the industry in which the group operates and any known factors or events that may affect the group in the next reporting period and the next 12 months. The Group's Fire Fighting and Protection business is expected to generate a comparable volume of business in the second half of FY2005. The latter half will also see increased sales from the Precision Gear Products business with more contracts sealed as a result of marketing efforts in the first half. However, the Controlled Power Supply business will see a substantial reduction in sales and profitability as there are fewer and smaller projects scheduled for completion in the second half. The bulk of the UMCi and ST Microelectronics projects have been recognised in the first half. Overall, the Group expects to maintain its level of profitability in FY Dividend (a) Current Financial Period Reported ON Any dividend declared for the current financial period that is reporting? None (b) Corresponding Period of the Immediately Preceding Financial Year Any dividend declared for the corresponding period of the immediately preceding financial year? None (c) Date Payable 12. If no dividend has been declared/recommended, a statement to the effect. No dividend is proposed to be declared for the current period. 13. Segmented revenue and results for business or geographical segments (of the group) in the form presented in the issuer s most recently audited annual financial statements, with comparative information for the immediately preceding year. 14. In the review of performance, the factors leading to any material changes in contributions to turnover and earnings by the business or geographical segments. Please refer to paragraph 8 above. 15. A breakdown of sales. 16. A breakdown of the total annual dividend (in dollar value) for the issuer s latest full year and its previous full year. BY ORDER OF THE BOARD