UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
6-K
REPORT
OF FOREIGN PRIVATE ISSUER
PURSUANT
TO RULE 13a-16 OR 15d-16 OF
THE
SECURITIES EXCHANGE ACT OF 1934
For
the month of April 2025
Commission
File Number 001-42381
INNEOVA
Holdings Limited
(Exact
name of registrant as specified in its charter)
Not
Applicable
(Translation
of Registrant’s Name Into English)
14
Ang Mo Kio Street 63
Singapore
569116
(Address
of Principal Executive Offices)
Indicate
by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F ☒ Form
40-F ☐
Name
Change
On
April 25, 2025, SAG Holdings Limited announced that it changed its name to INNEOVA Holdings Limited (“INNEOVA Holdings” or
the “Company”) and that its trading symbol would change from SAG to INEO on the Nasdaq Capital Market effective as of April
28, 2025. The name change was approved by its shareholders on March 31, 2025.
Entry
into a Material Definitive Agreement
On
April 30, 2025, the Company announced that it completed the acquisition of INNEOVA Engineering Pte. Ltd. (“INNEOVA Engineering”),
a Singapore-based engineering solutions provider. The acquisition is part of the Company’s rebranding in connection with its recent
name change and diversification of engineering solutions, including expansion into green technologies. The acquisition was approved by
its shareholders on March 31, 2025 and was reviewed by a special committee of the board of directors of the Company. The agreement
relating to the acquisition was provided on a Form 6-K filed by the Company on March 12, 2025.
INNEOVA
Holdings is a Singapore-based provider of high-quality Original Equipment Manufacturer (“OEM”), third-party branded and in-house
branded replacement parts for motor vehicles and non-vehicle combustion engines.
Exhibits
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.
| |
SAG
Holdings Limited |
| |
|
|
| Date:
May 1, 2025 |
By:
|
/s/
Neo Chin Heng |
| |
|
Neo
Chin Heng |
| |
|
Chief
Executive Officer |
Exhibit 99.1
SAG Holdings Limited CHANGE
ITS NAME TO INNEOVA HOLDINGS LIMITED
Corporate Rebranding Marks New Era of Engineering
Excellence and Sustainable Solutions
SINGAPORE, April 25, 2025 (GlobeNewswire)
– SAG Holdings Limited today announced that it has changed its name to INNEOVA Holdings Limited (“INNEOVA Holdings”
or the “Company”), (Nasdaq: SAG; new trading symbol INEO). INNEOVA Holdings is a Singapore-based provider of
high-quality Original Equipment Manufacturer (“OEM”), third-party branded and in-house branded replacement parts for motor
vehicles and non-vehicle combustion engines. The name change is part of the Company’s comprehensive rebranding, and was approved
by its shareholders on March 31, 2025. The Company trades on the Nasdaq Capital Market and is changing its symbol from SAG to INEO, effective
as of April 28, 2025.
The Company is adopting the INNEOVA brand globally,
reflecting its enhanced focus on engineering excellence and innovative solutions and is a key part of the Company’s transformation
strategy.
“This rebranding marks a pivotal moment in our
company’s evolution,” said Jimmy Neo, Chief Executive Officer of INNEOVA Holdings Limited. “The INNEOVA name represents
engineering excellence and innovation, values that perfectly align with our strategic vision. By adopting this powerful brand identity
across our global operations, we are positioning ourselves to better serve our customers and capture new opportunities in sustainable
engineering solutions.”
About INNEOVA Holdings
INNEOVA Holdings (formerly known as SAG Holdings Limited)
is a leading Singapore-based distributor dedicated to supplying high-quality spare parts across a wide range of industries.
On-Highway Division: We provide an extensive
range of genuine OEM and aftermarket parts for passenger vehicles, trucks, and buses. Our offerings include parts from manufacturers’
brands, trusted third-party labels, and our in-house brands.
Off-Highway Division: Catering to industries
like construction, marine, power generation, mining, and transportation, we offer specialized spare parts focusing on filtration systems,
lubricants, batteries, and internal combustion engine components.
Our unwavering commitment to quality ensures customers
experience maximum uptime, enhanced performance, and reduced total cost of ownership throughout the lifecycle of their machines. For
more information, visit https://www.inneova.co.
Safe Harbor Statement
Statements in this press release about future expectations,
plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking
statements” within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited
to, statements relating to the expected trading commencement and closing dates. The words “anticipate,” “believe,”
“continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,”
“potential,” “predict,” “project,” “should,” “target,” “will,”
“would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements
contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result
of various important factors, including: the uncertainties related to market conditions and the completion of the public offering on the
anticipated terms or at all, and other factors discussed in the “Risk Factors” section of the preliminary prospectus filed
with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof, and SAG Holdings Limited
specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or
otherwise, except as required by law.
Investor Relations Contact:
Matthew Abenante, IRC
President
Strategic Investor Relations, LLC
Tel: 347-947-2093
Email: matthew@strategic-ir.com
Exhibit 99.2
INNEOVA Holdings Limited Strengthens Engineering
Capabilities and Accelerates Growth in Sustainable Solutions with the Acquisition of INNEOVA Engineering Pte. Ltd.
SINGAPORE, April 30, 2025 (GlobeNewswire) –
INNEOVA Holdings Limited (Nasdaq: INEO, “INNEOVA Holdings” or the “Company” or the “Group”), a leading
Singapore-based provider of high-quality Original Equipment Manufacturer (“OEM”), third-party branded and in-house branded
replacement parts for motor vehicles and non-vehicle combustion engines, today announced that it has completed the acquisition of INNEOVA
Engineering Pte. Ltd. (“INNEOVA Engineering”), a Singapore-based engineering solutions provider.
This strategic acquisition represents a significant
milestone in INNEOVA Holdings’ transformation strategy, following the Company’s recent corporate rebranding from SAG Holdings
Limited to INNEOVA Holdings Limited. The acquisition strengthens the Company’s commitment to scaling its engineering capabilities,
expanding into green technologies, and delivering innovative, high-impact solutions across on- and off-highway industries.
The acquisition of INNEOVA Engineering is expected
to significantly extend INNEOVA Holdings’ capabilities beyond its existing divisions—INNEOVA Automotive and INNEOVA Industrial—which
currently specialize in the distribution of on-highway and off-highway spare parts, consumables, and combustion engines. With the addition
of INNEOVA Engineering, the Group is now positioned to accelerate its diversification into offering a comprehensive, full-chain solution—from
critical components supply to customized engineering and systems integration. This strategic expansion allows INNEOVA Holdings to serve
a broader spectrum of industries with deeper, end-to-end value creation. With these three pillars working in synergy, INNEOVA Holdings
is ready to drive meaningful progress in electrification, energy efficiency, and system lifecycle analysis for our customers worldwide.”
The acquisition, which constituted a related party
transaction, received shareholder approval at the Company’s Extraordinary General Meeting (EGM) on March 31, 2025, alongside the
approval of the Company’s name change. The transaction was thoroughly reviewed by a special committee of the Company’s Audit
Committee members, supported by an independent financial adviser’s valuation report.
INNEOVA Holdings reported revenues of $59.5 million
for the financial year ended December 31, 2023, with a balanced revenue mix between its On-Highway Business (45.1%) and Off-Highway Business
(54.8%). Integrating INNEOVA Engineering is expected to create significant synergies and expand the Company’s service offerings,
particularly in engineering solutions and sustainable technologies.
This acquisition builds upon the Company’s successful
expansion into the life science environmental sector in 2019, where it has been working with government hospitals to supply, install,
and maintain indoor air filtration systems. With INNEOVA Engineering’s additional expertise, the Company believes it is well-positioned
to capitalize on the growing demand for sustainable engineering solutions.
About INNEOVA Engineering
INNEOVA Engineering Pte. Ltd. is a Singapore-based
provider of turnkey engineering solutions for key sectors, including transport, healthcare, defense, utilities, and facility management.
Renowned for its innovation and sustainability focus, the Company delivers integrated services—such as cooling and flow management
systems and fleet maintenance—that improve energy efficiency, optimize performance, and extend asset life. As demand for resilient
infrastructure grows, INNEOVA Engineering is well-positioned to drive long-term value through smarter, more sustainable operations.
About INNEOVA Holdings
INNEOVA Holdings (formerly known as SAG Holdings Limited)
is a leading Singapore-based provider of high-quality Original Equipment Manufacturer (“OEM”), third-party branded, and in-house
branded replacement parts for motor vehicles and non-vehicle combustion engines.
On-Highway Division: We provide an extensive
range of genuine OEM and aftermarket parts for passenger vehicles, trucks, and buses. Our offerings include parts from manufacturers’
brands, trusted third-party labels, and our in-house brands.
Off-Highway Division: Catering to industries
like construction, marine, power generation, mining, and transportation, we offer specialized spare parts focusing on filtration systems,
lubricants, batteries, and internal combustion engine components.
Our unwavering commitment to quality
seeks to ensure that our customers experience maximum uptime, enhanced performance, and reduced total cost of ownership throughout the
lifecycle of their machines. For more information, visit https://www.inneova.co.
Safe Harbor Statement
Statements in this press release about future expectations,
plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking
statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include but are not limited
to, statements relating to the expected trading commencement and closing dates. The words “anticipate,” “believe,”
“seeks,” “continue,” “could,” “estimate,” “expect,” “intend,”
“may,” “plan,” “potential,” “predict,” “project,” “should,” “target,”
“will,” “would” and similar expressions are intended to identify forward-looking statements, although not all
forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking
statements as a result of various important factors, including the uncertainties related to market conditions and the completion of the
public offering on the anticipated terms or at all, and other factors discussed in the “Risk Factors” section of the preliminary
prospectus filed with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof, and INNEOVA
Holdings Limited specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information,
future events, or otherwise, except as required by law.
Investor Relations Contact:
Matthew Abenante, IRC
President
Strategic Investor Relations, LLC
Tel: 347-947-2093
Email: matthew@strategic-ir.com
Ivy Lee / Jamie Neo
INNEOVA Holdings Limited
Tel: +65 6383 7540
Email: ir@inneova.co
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