INNEOVA CEO outlines 2025 achievements in shareholder letter

INNEOVA Holdings Limited (NASDAQ: INEO) issued a letter from Chief Executive Officer Jimmy Neo outlining the company's progress in 2025 and strategic direction.

The Singapore-based engineering solutions provider completed several operational developments during 2025. The company automated its new fulfillment center at Singapore's JTC Defu Industrial City, implementing autonomous mobile robots and warehouse systems. In April, the company rebranded from SAG Holdings Limited to INNEOVA Holdings Limited.

INNEOVA acquired INNEOVA Engineering Pte. Ltd. to expand its maintenance, repair, and overhaul services capabilities. The company's subsidiary, INNEOVA Engineering, secured a multi-year contract from PSA Singapore, marking the third consecutive contract win since 2018 for transmission supply and maintenance services.

The company expanded its hydrogen technology involvement through partnerships with HyCee Pte. Ltd. and GuoFu Hydrogen, participating in Singapore's Hydrogen Pathfinder Pilot. This initiative plans to introduce up to 20 hydrogen-powered heavy-duty vehicles and supporting infrastructure.

INNEOVA Engineering joined A*STAR's Advanced Remanufacturing and Technology Centre and the Hydrogen Full Cell Association of Singapore. The partnerships focus on electrification, battery energy storage systems, and hydrogen fuel cell technologies.

Neo stated the company reported revenue growth in fiscal 2025, supported by expanded engineering services and parts solutions. The letter indicated INNEOVA operates two business segments: Parts Services for supply solutions and Engineering Services for system lifecycle analysis.

The company outlined plans to focus on partnerships for capability development, digital intelligence integration, and low-carbon energy solutions. INNEOVA aims to align with Singapore's Green Plan 2030 and National Hydrogen Strategy 2050.

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