INNEOVA Holdings

What INNEOVA Holdings does

INNEOVA Holdings Limited is a Singapore-based diversified industrial holding company listed on NASDAQ under ticker INEO, with roots dating back to 1970 (founded as Soon Aik Group). The group operates four wholly-owned business divisions: INNEOVA Automotive (aftermarket spare parts and lubricants); INNEOVA Engineering (transmissions, air compressors, clean air filtration, lifting and handling systems, new energy/hydrogen solutions, plus MRO, ILS and IPS services — formerly Power Trans Engineering, rebranded August 2024); INNEOVA Industrial (filters, parts, lubricants, batteries and marine total solutions operated through Filtec); and INNEOVA Life (Deep Ocean Water and Surface Ocean Water nutritional wellness products, seahorse-based health and beauty items distributed from Taiwan, Korea and Oman suppliers).

The revenue model combines hardware distribution (automotive and industrial parts, wellness products) with professional services (engineering services, MRO/ILS/IPS support). INNEOVA runs a B2B sales-led go-to-market with direct sales teams and dedicated export hotlines for enterprise accounts, complemented by brand distribution partnerships with global equipment manufacturers (Ingersoll Rand, Allison Transmission, Mann+Hummel, Chevron, BOATLIFT, XCMG) and appointed distributors for INNEOVA Life products across Asia Pacific, the Middle East and Europe. Engineering operations are anchored at a service facility at 35 Loyang Way, Singapore; corporate headquarters is at 14 Ang Mo Kio Street 63. The group employs 101–250 people.

FY2025 revenue was $58.4 million, down 6.9% year-over-year on softer international demand, with a net loss of $0.4 million versus net income of $0.4 million the prior year. Despite the top-line decline, operating cash flow surged 75% to $4.4 million and bank borrowings were reduced by $3.4 million, signalling improved working capital and active deleveraging. Strategic momentum is concentrated in clean energy and DOW distribution: a September 2025 strategic cooperation with HyCee Pte. Ltd. (a GuoFu Hydrogen joint venture) for a Hydrogen Pathfinder Pilot, HFCAS and A*STAR ARTC memberships, new electric-material-handling (XCMG) and EV-servicing (SINGPILOT) partnerships, and MoUs with Oman Deep Ocean for Middle East DOW distribution. The company trades at a $10.1 million market capitalization (June 2026) with the share price at $0.71 (down 47% YoY), faces a Nasdaq $1 minimum-bid-price compliance deadline of December 7, 2026, and is subject to a securities class action investigation by Rosen Law Firm.

Name

INNEOVA Holdings

Legal name

INNEOVA Holdings Limited

Website

https://inneova.co

Company type

Public

Founded year

1970

Operating status

Operating

Headcount range

101–250 employees

Short description

INNEOVA Holdings is a Singapore-based diversified industrial group operating four divisions — Automotive, Engineering, Industrial and Life — supplying automotive parts, engineering and MRO services, and ocean-derived wellness products across Asia Pacific, the Middle East and Europe.

Ownership category

akta.pro rank

Product category

Industrial Distribution & Engineering Services

NAICS

Industrial Machinery Manufacturing (3332), Air-Conditioning and Warm Air Heating Equipment and Commercial and Industrial Refrigeration Equipment Manufacturing (333415), Industrial Machinery Manufacturing (33324)

SIC

General Industrial Machinery & Equipment (3560), Industrial & Commercial Fans & Blowers & Air Purifing Equip (3564), Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip (3585)

akta.pro primary industry

Ventilation, Ducting & Air Distribution Equipment (IMAHAKAG)

akta.pro secondary industries

Air Handling Units (AHUs) & Rooftop Units (RTUs) (IMADANAA), Industrial Power & Energy Electronics Manufacturing Services (UPS, converters, inverters, chargers) (IMAGAGAI)

Keywords

• Automotive spare parts
• Industrial engineering services
• Transmission maintenance services
• Deep ocean water products
• Marine lifting equipment

Headquarters

HQ city

Singapore

HQ country

Singapore

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Supply Chain, Personnel, Infrastructure, Marketing or Sales

Revenue model

1. Automotive Parts and Lubricants: Sale of automotive spare parts, genuine parts, and lubricant products through INNEOVA Automotive segment. Products include engine parts, chassis parts, maintenance parts, and body parts for vehicles from brands like Fuso, Hino, Isuzu, Toyota, Honda, and others.
2. Engineering Services: INNEOVA Engineering provides transmission services, air compressor solutions, clean air filtration, lifting and handling systems, and MRO (Maintenance, Repair, Overhaul) services from its facility at 35 Loyang Way, Singapore.
3. Industrial Parts Distribution: INNEOVA Industrial (Filtec) distributes industrial spare parts including filters, batteries, lubricants, and equipment through its operations at 14 Ang Mo Kio Street, Singapore.
4. Nutritional Wellness Products: INNEOVA Life distributes Deep Ocean Water products, health supplements, and skincare products derived from ocean-based materials across Asia Pacific, Middle East, and Europe.

Go-to-market motion2 records

Distribution channels5 records

Marketing channels5 records

Core offering

INNEOVA Holdings operates a diversified Singapore-based industrial group with four business divisions: INNEOVA Automotive (auto spare parts and lubricants), INNEOVA Engineering (transmission services, air compressors, clean air filtration, lifting/handling systems, MRO and new energy solutions), INNEOVA Industrial/Filtec (industrial filters, parts, batteries), and INNEOVA Life (Deep Ocean Water nutritional wellness products distributed globally).

Product overview

INNEOVA Holdings is a Singapore-based diversified industrial group organized into four business divisions: INNEOVA Automotive (auto parts and lubricants), INNEOVA Engineering (industrial engineering services including transmissions, air compressors, clean air filtration, lifting/handling systems, new energy, and environmental solutions), INNEOVA Industrial (industrial filters and parts through Filtec), and INNEOVA Life (nutritional wellness products from ocean water sources). The group operates as a platform of complementary business units offering both proprietary and distributed products, with engineering services supporting the product divisions. INNEOVA Engineering, formerly Power Trans Engineering, rebranded in August 2024 and has grown over 28 years as a leading supplier in the transmission engine industry. INNEOVA Life focuses on wellness products derived from Deep Ocean Water (DOW) and Surface Ocean Water (SOW), distributing internationally-sourced health, beauty, and nutritional products. The group serves automotive, industrial, engineering, and life sciences sectors across global markets.

Differentiator

Problem solved

Functional benefit

Brands

• INNEOVA Automotive: Automotive spare parts and lubricant products
• INNEOVA Engineering
• INNEOVA Industrial
• INNEOVA Life
• INfiniteCare
• La Rarita
• Vetto ACTIV
• Vetto Advance

Products and services

• INNEOVA Engineering - Transmissions & Power Generation Transmission services and power generation solutions including maintenance, repair, overhaul, and parts supply for industrial transmission systems.
• INNEOVA Engineering - Air Compressors

Quantifiable outcome

• Operating cash flow increased 75% to $4.4 million in FY2025
• +2 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

18 partnerships are on record, tiered core and minor.

• HyCee Pte. Ltd.coreStrategic or Co-development Partner · 1 September 2025Strategic cooperation agreement with HyCee Pte. Ltd., a joint venture of GuoFu Hydrogen, to collaborate on a Hydrogen Pathfinder Pilot in Singapore. The project aims to demonstrate hydrogen technology applications and support Singapore's decarbonization strategy, including fleet management and hydrogen refueling infrastructure.
• BOATLIFTcoreChannel Partner/ Reseller/ Distributor · 19 March 2025Sales, Service & Parts Agreement with BOATLIFT, a globally recognized leader in marine handling and lifting systems. INNEOVA Engineering distributes BOATLIFT equipment, provides after-sales service and maintenance, and supplies genuine spare parts for maritime and offshore sectors.
• A*STAR ARTC (Advanced Remanufacturing and Technology Centre)coreStrategic or Co-development Partner · 18 March 2025INNEOVA Engineering became a member of A*STAR ARTC to leverage cutting-edge technologies and government-backed support for driving advancements in engineering, logistics operations, and autonomous capabilities.
• Hydrogen Fuel Cell Association of Singapore (HFCAS)coreStrategic or Co-development Partner · 1 February 2025INNEOVA Engineering joined HFCAS to advance hydrogen technologies and clean energy solutions, contributing to Singapore's hydrogen economy and decarbonization efforts.
• Oman Deep OceancoreChannel Partner/ Reseller/ Distributor · 19 January 2025MoU signed with Oman Deep Ocean to develop and establish distribution management of Deep Ocean Water products and applications in Sultanate of Oman to global markets. INNEOVA Life is appointed as a pivotal distribution partner for the Oman DOW Industrial Park.
• SINGPILOT PTE LTDcoreStrategic or Co-development Partner · 16 January 2025MoU to provide specialized service solutions for Heavy Electric Commercial Vehicles (HCEVs), including electric prime movers. Collaboration aims to set new benchmarks in HCEV servicing, battery diagnostics, and system optimization.
• Altech Equipment Systems Pte LtdcoreStrategic or Co-development Partner · 8 January 2025MoU with Altech Equipment Systems to enhance service and maintenance solutions for process chillers, distribute ALTECH's cutting-edge process chillers for industries like Pharmaceutical, F&B, Chemical, Manufacturing, and Power Generation including Data Centers.
• PSA SingaporecoreStrategic or Co-development Partner · 1 January 2025INNEOVA Engineering secured a multi-year overhaul contract from PSA Singapore for engineering services.
• XCMGminorChannel Partner/ Reseller/ Distributor · 1 January 2025After year-end, INNEOVA Engineering secured a partnership to distribute XCMG electric material handling equipment in Singapore.
• LA RARITA / Searchlight H&B Co. Ltd (Korea)coreChannel Partner/ Reseller/ Distributor · 24 October 2024INNEOVA Life appointed as distributor of LA RARITA products for Singapore, Malaysia and Indonesia. LA RARITA focuses on Jeju Seahorse Cosmetics using natural ocean materials for health and beauty products.
• Taiwan YEScoreChannel Partner/ Reseller/ Distributor · 23 July 2024Distributor agreement with Taiwan YES for distribution of Deep Ocean Water products in Singapore, Malaysia, and Indonesia. Taiwan YES is the leading manufacturer of DOW in Taiwan, extracting from 662m depth at Hualian, Taiwan.
• HAECHUNMA CO. Ltd (海天马)coreChannel Partner/ Reseller/ Distributor · 8 July 2024INNEOVA Life appointed as distributor of HAECHUNMA CO. Ltd products for Asia Pacific, Middle East and Europe. HAECHUNMA is a global leader in Seahorse farming and product research & development on seahorse related health and beauty products.
• Kung Long Ocean Biotech (Taiwan)coreChannel Partner/ Reseller/ Distributor · 26 June 2024Signed MoU with Kung Long Ocean Biotech for establishing distribution network in Asia Pacific Region. Kung Long Biotech is a leading manufacturer of Deep Ocean Water (DOW) in Taiwan using state-of-the-art technologies to pump from 618m depth at Hualian, Taiwan.
• Ingeliance Singapore Pte LtdcoreStrategic or Co-development Partner · 15 May 2024Partnership with Ingeliance Singapore Pte Ltd to jointly offer Maintenance Engineering Services such as Integrated Logistics Support (ILS) and Integrated Product Support (IPS) to Defense and Commercial segments. Both companies offer a Comprehensive Service Support Package including ILS/IPS, Parts & Logistics Management and MRO Services.
• Ingersoll RandcoreChannel Partner/ Reseller/ Distributor · 20 March 2024INNEOVA Engineering (formerly Power Trans Engineering) is an authorized distributor of Ingersoll Rand products including air compressors. Participated in Ingersoll Rand E90-E160 New Product Unveiling Ceremony and Distributor Conference 2024.
• Allison TransmissioncoreChannel Partner/ Reseller/ Distributor · 1 January 2024INNEOVA Engineering represents Allison Transmission as part of its brand portfolio for transmissions and power generation solutions.
• Mann+HummelcoreChannel Partner/ Reseller/ Distributor · 1 January 2024INNEOVA Engineering distributes Mann+Hummel clean air filtration products as part of its engineering solutions portfolio.
• ChevroncoreChannel Partner/ Reseller/ Distributor · 1 January 2024INNEOVA Engineering includes Chevron lubrication products in its comprehensive parts and services offerings.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Multi Ways Holdings Limited: Singapore-listed industrial equipment distributor and services company. Closely comparable to INNEOVA Engineering given similar Singapore base, distribution + services model, and overlapping industrial product lines; board member Jimmy Neo also serves on Multi Ways' board.
• Rotary Engineering Limited: Singapore-based engineering services and industrial contractor. Comparable to INNEOVA Engineering in industrial engineering services, MRO offerings, and Singapore operational base, though more focused on oil, gas, and petrochemical end-markets.
• Swee Hong Limited: Singapore-based industrial and engineering group providing mechanical, electrical, and construction services. Comparable to INNEOVA in Singapore-headquartered industrial services with engineering and project execution overlap.

Broad incumbents

• ST Engineering: Singapore's largest engineering and MRO conglomerate spanning aerospace, land systems, and marine. Overlaps with INNEOVA Engineering's MRO, defense ILS/IPS, and transmission services, but operates at vastly greater scale and breadth.
• Jardine Cycle & Carriage Limited: Singapore-listed conglomerate with automotive and heavy equipment distribution interests across Southeast Asia. Comparable to INNEOVA Automotive in regional auto parts distribution, though much larger and more diversified.
• Atlas Copco AB: Global OEM of air compressors, vacuum, and industrial air treatment equipment. Directly comparable to INNEOVA Engineering's air compressor and clean air filtration business, but as the dominant global incumbent versus INNEOVA's regional distribution role.

Regional players

• Sime Darby Berhad: Malaysia-based diversified industrial conglomerate with significant automotive, industrial, and parts distribution businesses across Asia Pacific. Comparable to INNEOVA's automotive and industrial distribution segments but operating at much larger scale and with different geographic focus.

Others

• W.W. Grainger, Inc. Global industrial distribution company supplying maintenance, repair, and operating (MRO) products to businesses. Comparable to INNEOVA Industrial (Filtec) and the MRO portion of INNEOVA Engineering in industrial parts distribution model, but at vastly larger scale and primarily North America-focused.
• Allison Transmission Holdings: Global manufacturer of commercial-duty fully automatic transmissions. Partner (not competitor) of INNEOVA Engineering in the transmission product line; relevant as a key brand dependency whose distribution INNEOVA depends upon.
• Ingersoll Rand Inc. Global manufacturer of air compressors, flow control, and vacuum products. Partner (not competitor) of INNEOVA Engineering as the underlying OEM behind the air compressor distribution line; included as an ecosystem participant whose continued authorization underpins INNEOVA's compressed air offering.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/teamspz
• LinkedInlinkedin.com/company/inneova-engineering

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about INNEOVA Holdings