总裁发表

I am excited to take over the helm at HLN Technologies Limited, and would like to use this chance to update shareholders of the recent developments in the Group.

As at 4 August 2009, HLN’s former Group Chief Executive Officer (“CEO”), Mr Leslie Wa, will be re-designated
as HLN’s Group Chief Operating Officer (“COO”), and Mr Ng Khoon Seng will be re-designated as the
Group’s Deputy COO.

As we mentioned previously, the Group faced many challenges as we continued operations amid the global
financial turmoil. In order to remain competitive, we embarked on a restructuring exercise, where we divested
off our metallic arm and focused on our profit making elastomeric and polymeric divisions.

As reflected in our 1H2009 results, our revenue decreased by 54.4% to S$11.2 million from S$24.4 million in the previous corresponding period. This decline was mainly due to the disposal of our Singapore aluminum service business in September 2008, which was a significant revenue contributor. Furthermore, lower demand
stemming from the global economic crisis also caused a substantial fall in our other operating segments.

Consequently, net loss after tax for 1H2009 stood at S$2.7 million as compared to S$0.5 million in 1H2008.
This was because of lower gross profits, as well as, higher other charges and provisions.

With the manufacturing industry taking a big hit from the financial crisis, the Board started looking at other business opportunities that will be beneficial to the Group.

In this course of time, one such opportunity arose, which will see the expansion of our core business activities to
include the provision of fund management, stock broking and general consulting activities. The management
believes that this is a profitable industry in such financially turbulent times, and will help to guide the Group back
to the black and remain profitable in the long term.

This was the main reason why I was appointed to head HLN, to lead the Group into its next phase of growth. With
my experience in investment advisory and Leslie assisting me as COO, I am confident that our combined strengths
will lead the Group to greater heights.

As a preparatory step, we have also set up a new subsidiary, Sheung Ho (Singapore) Pte Ltd
(“Sheung Ho (Singapore)”), to serve as the holding company for other future subsidiaries to be incorporated to carry
out our new business. Recently, we also announced that Sheung Ho (Singapore) has incorporated a wholly owned subsidiary, Sheung Ho (Hong Kong) Company Limited (“Sheung Ho (Hong Kong)”) to carry out businesses in
Hong Kong.

On behalf of the Board of Directors, I would like to take this opportunity to thank all shareholders, management team, business associates, staff and valued customers for your support and dedication as HLN undergoes this phase of change. I look forward to your continuing unwavering support in the years ahead.

Jeff Cheong, Group CEO