INNEOVA Holdings Ltd

Listed Company

INEOCIK 0001933951NasdaqNon-AcceleratedEmerging GrowthWholesale-Motor Vehicles & Motor Vehicle Parts & SuppliesE9KYFY ends Dec 31

Period

FY 2024

Revenue

$58.33M

Net Income

$8.0K

Total Assets

$39.59M

Equity

$8.88M

Shares Out

16.17M

Op. Cash Flow

$2.67M

Business

INNEOVA Holdings Ltd distributes automotive and industrial spare parts and related products. It supplies genuine OEM and aftermarket on-highway parts, filtration and other off-highway engine components, lubricants, batteries and in-house branded products, alongside retail and distribution services. The business operates through distinct On-Highway and Off-Highway segments—principally INNEOVA Automotive (including Autozone retail outlets) and INNEOVA Industrial (with INNEOVA Malaysia for distribution). Its markets are primarily Singapore with significant exports to Malaysia and the Middle East, and sales channels include retail outlets, wholesalers, distributors and e-commerce platforms.

Summary from filing dated 2025-05-14

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	Dec 31, 2025 2025-12-31	Dec 31, 2024 2024-12-31	Dec 31, 2023 2023-12-31
Revenue	58	63	63
Cost of revenue	47	50	51
Gross profit	11	12	12
Operating expenses:	—	—	—
Selling and distribution	1	2	1
General and administrative	10	9	8
Total operating cost and expenses	11	11	9
(Loss) profit from operations	−51,000	1	3
Other income (expenses):	—	—	—
Interest Expense	56,000	81,000	2,000
Interest expense	1	1	1
Government grant	−45,000	−94,000	−79,000
Gain/Loss on Dispositions	12,000	−2,000	—
Foreign Currency Gain/Loss	66,000	294,000	153,000
Non-Operating Income (Expense)	164,000	234,000	174,000
Total other expenses, net	−1	−748,000	−710,000
(Loss) income before income taxes	−1	501,000	2
Income Tax Expense	−656,000	125,000	285,000
NET (LOSS) INCOME	−397,000	376,000	2
Other comprehensive income:	—	—	—
Foreign currency translation adjustment	−459,000	192,000	−114,000
COMPREHENSIVE INCOME	62,000	184,000	2
Earnings Per Share	—	—	—
Earnings Per Share (Basic)	−0.03	0.04	0.2
Earnings Per Share (Diluted)	−0.03	0.04	0.2
Shares Outstanding	—	—	—
Basic	14	10	9
Diluted	14	10	9

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	Dec 31, 2025 2025-12-31	Dec 31, 2024 2024-12-31
ASSETS	—	—
Current assets:	—	—
Cash and Cash Equivalents	1	2
Restricted Cash, Current	315,000	298,000
Accounts Receivable	13	16
Inventory	19	19
Other Non-Operating Current Assets	2	1
Other Non-Operating Current Assets	4	4
Total current assets	37	41
Non-current assets:	—	—
Property, Plant and Equipment	2	2
Operating Lease Right-of-Use Asset	657,000	672,000
Deferred Tax Assets, Non-Current	837,000	128,000
Amounts due from related parties	1	1
Total non-current assets	5	4
TOTAL ASSETS	41	46
LIABILITIES AND SHAREHOLDERS’ EQUITY	—	—
Current liabilities:	—	—
Accounts Payable	5	5
Accounts Payable	244,000	9,000
Customer deposits	6	5
Other Non-Operating Current Liabilities	5	7
Short-Term Debt	18	19
Short-Term Debt	70,000	88,000
Operating Lease Liability, Current	176,000	334,000
Accrued Income Taxes	100,000	173,000
Total current liabilities	34	37
Long-term liabilities:	—	—
Bank borrowings	1	3
Long-Term Debt	140,000	188,000
Operating Lease Liability, Non-Current	508,000	384,000
Deferred Tax Liabilities, Current	112,000	164,000
Total long-term liabilities	2	4
TOTAL LIABILITIES	36	41
Preferred Stock	—	—
Total Stockholders' Equity	8,000	5,000
Additional Paid-In Capital	1	1
Accumulated Other Comprehensive Income	−535,000	−994,000
Retained Earnings	4	5
Total shareholders’ equity	5	5
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	41	46

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	Dec 31, 2025 2025-12-31	Dec 31, 2024 2024-12-31	Dec 31, 2023 2023-12-31
Cash flows from operating activities:	—	—	—
Net (loss) income	−397,000	376,000	2
Adjustments to reconcile net income to net cash provided by operating activities	—	—	—
Depreciation of property and equipment	414,000	294,000	240,000
Depreciation of right-of-use assets	403,000	368,000	357,000
Provision for impairment for estimated credit loss	800,000	907,000	251,000
Provision for impairment for inventories	—	11,000	231,000
Loss (gain) on disposal of property and equipment	−12,000	2,000	—
Change in operating assets and liabilities:	—	—	—
Accounts receivable	−3	447,000	−1
Inventories	−838,000	−708,000	374,000
Deposits, prepayments, and other receivables	130,000	638,000	−348,000
Accounts payable and accrued liabilities	367,000	2,000	−279,000
Net Cash from Operating Activities	−422,000	−360,000	−319,000
Customer deposits	201,000	1	−63,000
Income tax payable	−834,000	−154,000	−12,000
Net cash provided by operating activities	4	3	4
Cash flows from investing activity:	—	—	—
Purchase of property and equipment	10,000	739,000	309,000
Net cash used in investing activity	−10,000	−739,000	−309,000
Cash flows from financing activities:	—	—	—
Repayment of bank borrowings	49	43	48
Proceeds from Debt Issuance	45	46	46
Proceeds from issuance of new shares, net of expenses	—	−332,000	—
Repayment to related parties	2	3	2
Repayment of finance lease liabilities	66,000	118,000	156,000
Net cash used in financing activities	−5	−628,000	−4
Effect of Exchange Rate on Cash	316,000	−196,000	114,000
Net change in cash and restricted cash	−714,000	971,000	−272,000
CASH AND RESTRICTED CASH, END OF FINANCIAL YEAR	—	—	—
CASH AND RESTRICTED CASH, END OF FINANCIAL YEAR	—	—	—
SUPPLEMENTAL CASH FLOW INFORMATION:	—	—	—
Income Tax Expense	206,000	280,000	297,000
Interest Expense	1	1	1
SUPPLEMENTAL NON-CASH FLOW INFORMATION:	—	—	—
Issuance of ordinary shares in connection with common-control acquisition	3,000	—	—

Filings

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