INNEOVA Holdings Awarded a Multi-Million Dollar Contract from PSA Singapore

SINGAPORE, Oct. 23, 2025 (GLOBE NEWSWIRE) -- INNEOVA Holdings Limited (“INNEOVA Holdings” or the “Company”) (Nasdaq: INEO), a Singapore-based engineering solutions provider that maximizes equipment uptime, optimizes total cost of ownership, and extends asset longevity through sustainable engineering, announced today that its subsidiary, INNEOVA Engineering Pte. Ltd., has been awarded a multi-year overhaul tender valued in the multi-million dollar range from PSA Singapore, a leading global port operator.

This award marks the third consecutive overhaul tender granted to INNEOVA Engineering by PSA since 2018, reflecting the Company's continued confidence in its service quality, supply chain management, technical expertise, and operational reliability.

INNEOVA and PSA have maintained a business relationship spanning more than 20 years. During this period, INNEOVA has supported PSA's operations by supplying Allison Transmissions, executing overhaul and maintenance programs, and delivering after-sales service to ensure operational uptime.

The contract award demonstrates INNEOVA's capabilities as an engineering solutions provider in overhaul mechanics and aftersales support infrastructure, enabling the Company to deliver engineering services to maximize equipment uptime and optimize total cost of ownership for PSA's port operations.

"We are pleased to continue supporting PSA's operations through this contract," said Jimmy Neo, Chief Executive Officer of INNEOVA Holdings Ltd. "The award reinforces our engineering competency and service reliability, and strengthens INNEOVA's engineering solutions revenue stream, which represents a core component of the Company's business strategy. Today’s announcement highlights the value of long-term partnerships in delivering results for our customers and shareholders."

About INNEOVA Engineering

INNEOVA Engineering is an engineering solutions provider offering system lifecycle analysis and turnkey solutions across transport, healthcare, defence, utilities, and facility management. The company delivers integrated services—including cooling systems, flow management, and fleet maintenance— all designed to maximise asset uptime and longevity through innovation, reliability, and sustainability across Asia. Committed to optimising total cost of ownership (TCO) and future-proofing essential infrastructure, INNEOVA Engineering ensures operations remain resilient from concept to maintenance.