INNEOVA Holdings Wins Multi-Million Dollar PSA Singapore Contract

SINGAPORE, Oct. 23, 2025 — INNEOVA Holdings Limited (Nasdaq: INEO), also referred to as “INNEOVA Holdings” or “the Company,” a Singapore-based provider of engineering solutions focused on enhancing equipment uptime, optimizing overall ownership costs, and prolonging asset lifespan via sustainable engineering practices, announced today that its subsidiary, INNEOVA Engineering Pte. Ltd., has secured a multi-year overhaul contract, valued in the multi-million dollar range, from PSA Singapore, a prominent global port operator.

Since 2018, this represents the third successive overhaul tender awarded by PSA to INNEOVA Engineering, underscoring PSA’s ongoing trust in the Company’s high service standards, efficient supply chain, technical proficiency, and dependable operations.

INNEOVA and PSA have fostered a business collaboration extending over two decades. Throughout this extensive period, INNEOVA has played a vital role in supporting PSA’s operations through the provision of Allison Transmissions, implementation of overhaul and maintenance schedules, and consistent after-sales support to guarantee continuous operational availability.

This contract award highlights INNEOVA’s strong capabilities as an engineering solutions provider, particularly in overhaul mechanics and robust after-sales support infrastructure. This allows the Company to provide engineering services that significantly enhance equipment uptime and improve the total cost of ownership for PSA’s port activities.

“We are delighted to extend our support for PSA’s operations with this new contract,” stated Jimmy Neo, Chief Executive Officer of INNEOVA Holdings Ltd. “This achievement reaffirms our engineering expertise and service dependability, while also bolstering INNEOVA’s revenue from engineering solutions, a key pillar of our Company’s strategic direction. This announcement today underscores the considerable value of enduring partnerships in achieving favorable outcomes for both our clients and shareholders.”

About INNEOVA Engineering

INNEOVA Engineering operates as an engineering solutions provider, furnishing comprehensive system lifecycle analysis and ready-to-implement solutions across various sectors such as transport, healthcare, defense, utilities, and facility management. The company offers integrated services—encompassing cooling systems, flow management, and fleet upkeep—all meticulously crafted to maximize asset operational availability and extend lifespan through continuous innovation, steadfast reliability, and sustainable practices throughout Asia. With a dedication to optimizing the total cost of ownership (TCO) and preparing critical infrastructure for future challenges, INNEOVA Engineering guarantees operational resilience from initial concept through ongoing maintenance.

About PSA Singapore

PSA Singapore serves as the principal terminal for PSA International, recognized as one of the preeminent port operators globally. In 2024, PSA International processed an unprecedented 100.2 million TEUs worldwide, with its Singaporean facilities contributing 40.9 million TEUs to this total. PSA Singapore manages 55 berths across its six container terminals (namely Tanjong Pagar, Brani, Pasir Panjang, Keppel, Jurong, and Tuas) and boasts an approximate annual design capacity of 43.9 million TEUs. The group’s extensive global footprint includes more than 70 deepsea, rail, and inland terminals situated in over 45 nations, providing connectivity to approximately 600 ports around the globe.

About INNEOVA Holdings

INNEOVA Holdings (previously SAG Holdings Limited) stands as a prominent Singapore-based partner offering solution-driven services to sectors where operational uptime and consistent reliability are paramount. Integrating extensive engineering proficiency, digital competencies, and environmentally sound methodologies, INNEOVA furnishes holistic solutions that streamline lifecycles, optimize uptime, and prolong asset durability across its two primary business divisions: Parts Services and Engineering Services.

Parts Services: This segment involves aiding crucial operations with extensive parts management and procurement solutions, designed to guarantee availability, dependability, and maximum operational time.

Engineering Services: This segment encompasses delivering system lifecycle analysis and MRO (Maintenance, Repair, and Overhaul) services, further enhanced by advanced connectivity, digitalization, and data analytics. INNEOVA empowers clients to future-proof their assets, attain peak operational uptime, and refine their total cost of ownership (TCO).

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Safe Harbor Statement

Assertions within this press release concerning future expectations, strategic plans, and anticipated prospects, alongside any other declarations that do not pertain to historical events, may be considered “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995. Such statements encompass, but are not confined to, those concerning expected trading commencement and closing timelines. Terms such as “anticipate,” “believe,” “seeks,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would,” and analogous phrases are used to denote forward-looking statements, though their absence does not preclude a statement from being forward-looking. Actual outcomes could diverge substantially from those suggested by these forward-looking statements due to a variety of significant factors, including market uncertainties, the successful completion of the public offering on the foreseen terms or at all, and additional elements detailed in the “Risk Factors” section of the preliminary prospectus filed with the SEC. All forward-looking statements presented in this press release are valid only as of its publication date, and INNEOVA Holdings Limited expressly disavows any commitment to revise or update any forward-looking statement, whether owing to fresh information, subsequent occurrences, or otherwise, unless legally mandated.

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
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