INNEOVA Holdings Ltd

INNEOVA Holdings Ltd. reported its unaudited consolidated balance sheet as of March 31, 2026, showing a 21.3% increase in total assets to $50.26 million from $41.42 million at December 31, 2025. This growth was primarily driven by significant increases in accounts receivable from third parties and customer deposits. Total liabilities also rose by 23.2% to $44.90 million, reflecting higher customer deposits and bank borrowings, while shareholders' equity increased by 7.8% to $5.36 million.

INNEOVA Holdings Limited announced its audited financial results for fiscal year ended December 31, 2025, reporting a net loss of $0.4 million, a decline from net income of $0.4 million in 2024, on revenue of $58.4 million, down 6.9%. Despite softer international demand, the company strengthened operating cash generation by 75% to $4.4 million and reduced bank borrowings by $3.4 million. Key strategic milestones included a multi-year overhaul contract win from PSA Singapore, a Hydrogen Pathfinder Pilot with HyCee Pte. Ltd., and a post-year-end partnership to distribute XCMG electric material handling equipment in Singapore.