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INNEOVA Holdings (Nasdaq: INEO) announced that subsidiary INNEOVA Engineering Pte. Ltd. won a multi-year overhaul tender valued in the multi-million dollar range from PSA Singapore on October 23, 2025. This is the third consecutive overhaul tender awarded by PSA since 2018 and continues a business relationship of more than 20 years.
The contract covers overhaul, maintenance and after-sales support including supply of Allison Transmissions, and the company said the award reinforces its engineering competency, service reliability, and strengthens its engineering solutions revenue stream.
INNEOVA Holdings (Nasdaq: INEO) signed a Strategic Cooperation Agreement with HyCee (a GuoFu Hydrogen joint venture) on Oct 14, 2025 to advance a Hydrogen Pathfinder Pilot in Singapore.
The SCA follows a Sept 2025 MoU and targets practical hydrogen use in hard-to-electrify sectors by industrializing hydrogen technologies, certifying and homologating hydrogen heavy-duty vehicles, and establishing refueling services.
Key elements include HyCee/GuoFu designating an OEM to develop up to 20 hydrogen heavy-duty vehicles, INNEOVA Engineering acting as exclusive distributor in Singapore after approvals, HyCee providing refueling services and training, and INNEOVA providing maintenance and operational support.
INNEOVA Holdings (Nasdaq: INEO) on October 10, 2025 provided an update on its hydrogen energy strategy after signing an MoU with HyCee Pte. Ltd., a joint venture of GuoFu Hydrogen. The company said INNEOVA Engineering is identifying and developing pathfinder projects in Singapore to demonstrate commercial hydrogen applications across heavy industry, shipping, aviation, and heavy-load mobility.
The partnership reportedly gives INNEOVA access to technologies across the hydrogen value chain, including production, purification, storage, refueling, and vehicle-mounted supply systems. The update links the initiatives to Singapore's National Hydrogen Strategy, which projects hydrogen could supply up to 50% of power needs by mid-century. INNEOVA said it will update investors as projects and commercial opportunities progress.
INNEOVA Holdings (NASDAQ:INEO) reported its H1 2025 financial results, showcasing a 10.3% revenue growth to $30.8 million, up from $27.9 million in H1 2024. The company's gross profit increased by 2.2% to $5.9 million, though margins declined to 19.3% from 20.8%.
Key developments include the company's rebranding from SAG Holdings and the strategic acquisition of INNEOVA Engineering Pte. Ltd., which contributed $2.7 million in revenue. Singapore operations showed strong performance with a 29.9% revenue increase to $13.5 million. However, net income decreased to $0.2 million from $1.7 million, primarily due to increased operating expenses, higher interest costs, and forex losses.
INNEOVA Holdings (NASDAQ:INEO) announced that its subsidiary, INNEOVA Engineering, has signed a non-binding MoU with HyCee, a GuoFu Hydrogen joint venture, to advance hydrogen adoption in Singapore. The partnership aims to support Singapore's Green Plan 2030 through:
- Joint development of hydrogen technologies and infrastructure
- Market expansion across transport, logistics, and industrial sectors
- Development of distribution and refueling infrastructure
- Implementation of pilot projects and feasibility studies
- Comprehensive after-sales service and maintenance support
The collaboration combines INNEOVA's engineering expertise with HyCee's capabilities in hydrogen production, storage, and distribution to deliver sustainable clean energy solutions.
INNEOVA Holdings (Nasdaq: INEO) has announced its 2025 Annual General Meeting (AGM) will be held on August 25, 2025, at 10 a.m. Singapore Time (10 p.m. EDT on August 24, 2025) at their Singapore location. Shareholders registered as of July 31, 2025 are eligible to participate and vote.
The company has made available all relevant documents including the AGM Notice, Proxy Statement, and Proxy Card on their investor relations website and SEC's website. Additionally, INNEOVA's annual report on Form 20-F for FY2024, along with directors' report and summary financial report, can be accessed through these platforms.
INNEOVA Holdings Limited (NASDAQ: INEO) reported its fiscal year 2024 financial results, showing a slight revenue decline of 2.0% to $58.3 million from $59.5 million in 2023. While gross profit remained stable at $10.9 million with an improved margin of 18.7%, operating income decreased to $0.8 million from $2.5 million, and net income fell significantly to $0.008 million from $1.6 million in 2023.
The Singapore-based OEM parts manufacturer underwent significant transformations in 2024-2025, including a successful IPO in October 2024, automation implementation in its distribution center, rebranding from SAG Holdings to INNEOVA Holdings in April 2025, and the strategic acquisition of INNEOVA Engineering Pte. Ltd. to enhance its engineering capabilities and expand its service offerings.
INNEOVA Holdings has completed the acquisition of INNEOVA Engineering, marking a strategic expansion of its engineering and sustainable solutions capabilities. This Singapore-based company, recently rebranded from SAG Holdings, aims to strengthen its position beyond automotive and industrial spare parts distribution.
The company reported revenues of $59.5 million for FY2023, with revenue split between On-Highway (45.1%) and Off-Highway Business (54.8%). The acquisition, approved by shareholders on March 31, 2025, enhances INNEOVA's ability to provide full-chain solutions from components supply to engineering integration.
Building on its 2019 expansion into life science environmental sector, where it supplies air filtration systems to hospitals, INNEOVA is positioning itself to capitalize on growing demand for sustainable engineering solutions. The merger is expected to create significant synergies and expand service offerings in engineering and green technologies.
INEO Tech Corp. (TSX-V: INEO, OTCQB: INEOF) has signed a Master Services Agreement with Staples, setting the stage for expansion into over 1,000 Staples retail locations across the United States. Currently, INEO has installed 26 INEO GATE systems in 12 Staples stores across 11 states. This partnership enables Staples to purchase INEO products, including traditional EAS systems and the INEO Welcoming System, enhancing their digital advertising and analytics capabilities.
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