SINGAPORE, April 30, 2025 – INNEOVA Holdings Limited (Nasdaq: INEO, “INNEOVA Holdings” or the “Company” or the “Group”), a prominent Singaporean provider of high-quality replacement parts for motor vehicles and non-vehicle combustion engines, encompassing OEM, third-party branded, and in-house branded options, today announced the completion of its acquisition of INNEOVA Engineering Pte. Ltd. (“INNEOVA Engineering”), an engineering solutions firm also based in Singapore.

This strategic acquisition marks a key advancement in INNEOVA Holdings’ transformation, following its recent rebranding from SAG Holdings Limited. It reinforces the company’s focus on strengthening engineering capabilities, expanding into environmentally friendly technologies, and providing impactful solutions across both on- and off-highway sectors.

The acquisition of INNEOVA Engineering is poised to significantly broaden INNEOVA Holdings’ capabilities beyond its existing divisions, INNEOVA Automotive and INNEOVA Industrial, which currently specialize in distributing spare parts, consumables, and combustion engines for on- and off-highway applications. With INNEOVA Engineering, the Group can now accelerate its move towards offering a complete solution, from supplying essential components to delivering customized engineering and systems integration. This expansion allows INNEOVA Holdings to serve a wider array of industries with enhanced, end-to-end value. The synergy between these three divisions positions INNEOVA Holdings to spearhead advancements in electrification, energy efficiency, and system lifecycle analysis for its global clientele.

The acquisition, classified as a related party transaction, was approved by shareholders at the Company’s Extraordinary General Meeting (EGM) on March 31, 2025, along with the company’s name change. A special committee of the Audit Committee members, supported by an independent financial advisor’s valuation report, thoroughly reviewed the transaction.

INNEOVA Holdings reported revenues of $59.5 million for the financial year ending December 31, 2023, with revenue split between its On-Highway Business (45.1%) and Off-Highway Business (54.8%). The integration of INNEOVA Engineering is anticipated to generate substantial synergies and broaden the Company’s service offerings, especially in engineering solutions and sustainable technologies.

This acquisition builds on the Company’s successful entry into the life science environmental sector in 2019, where it has been supplying, installing, and maintaining indoor air filtration systems for government hospitals. With the added expertise of INNEOVA Engineering, the Company believes it is well-equipped to leverage the increasing demand for sustainable engineering solutions.

About INNEOVA Engineering

INNEOVA Engineering Pte. Ltd., based in Singapore, provides turnkey engineering solutions for sectors including transport, healthcare, defense, utilities, and facility management. Known for its focus on innovation and sustainability, the Company offers integrated services like cooling and flow management systems and fleet maintenance, enhancing energy efficiency, optimizing performance, and extending asset life. As demand for resilient infrastructure grows, INNEOVA Engineering is well-placed to drive long-term value through smarter, more sustainable operations.

About INNEOVA Holdings

INNEOVA Holdings (formerly SAG Holdings Limited) is a leading Singapore-based supplier of high-quality replacement parts for motor vehicles and non-vehicle combustion engines, including Original Equipment Manufacturer (“OEM”), third-party branded, and in-house branded products.

On-Highway Division: We offer a wide selection of genuine OEM and aftermarket parts for passenger vehicles, trucks, and buses, including parts from manufacturer brands, trusted third-party brands, and our own brands.

Off-Highway Division: Serving industries like construction, marine, power generation, mining, and transportation, we provide specialized spare parts focusing on filtration systems, lubricants, batteries, and internal combustion engine components.

Our dedication to quality aims to ensure maximum uptime, improved performance, and reduced total cost of ownership for our customers throughout the lifecycle of their equipment. For more information, visit .

Safe Harbor Statement

This press release contains statements about future expectations, plans, and prospects, and other statements regarding matters that are not historical facts, which may be considered “forward-looking statements” under the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements concerning expected trading commencement and closing dates. Terms like “anticipate,” “believe,” “seeks,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would,” and similar expressions are meant to identify forward-looking statements, though not all such statements contain these words. Actual results could differ significantly from those indicated by these forward-looking statements due to various important factors, including uncertainties related to market conditions, the completion of the public offering on the anticipated terms or at all, and other factors detailed in the “Risk Factors” section of the preliminary prospectus filed with the SEC. Any forward-looking statements in this press release are relevant only as of the date of this release, and INNEOVA Holdings Limited specifically disclaims any obligation to update these statements, whether due to new information, future events, or other reasons, except as legally required.

Investor Relations Contact:
Matthew Abenante, IRC
President
Strategic Investor Relations, LLC
Tel: 347-947-2093
Email:

Ivy Lee / Jamie Neo
INNEOVA Holdings Limited
Tel: +65 6383 7540
Email:

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