{"url_path":"/sec/ineo/10-k/2026/item-7","section_key":"item-7","section_title":"Item 7 MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS**","topic":"sec","document":{"doc_type":"20-F","doc_date":"2026-05-15","source_url":"https://www.sec.gov/Archives/edgar/data/1933951/0001493152-26-023663-index.html","accession_number":"0001493152-26-023663","cik":"0001933951","ticker":"INEO","issuer_name":"INNEOVA Holdings Ltd","edgar_url":"https://www.sec.gov/Archives/edgar/data/1933951/0001493152-26-023663-index.html","primary_entity_key":"0001933951","primary_entity_name":"INNEOVA Holdings Ltd"},"word_count":1147,"has_tables":true,"body_markdown":"**ITEM\n7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS**\n\n \n\nThe\nfollowing table sets forth information regarding the beneficial ownership of our share capital by:\n\n \n\n \n●\neach\nperson, or group of affiliated persons, known by us to beneficially own more than 5.0% of our shares;\n\n \n●\neach\nof our named Executive Officers;\n\n \n●\neach\nof our Directors; and\n\n \n●\nall\nof our current Executive Officers and Directors as a group.\n\n \n\nApplicable\npercentage ownership is based on 16,170,624 Ordinary Shares of our Company issued and outstanding as of the date of this Annual Report.\n\n \n\nThe\ninformation presented below regarding beneficial ownership of our voting securities has been presented in accordance with the rules of\nthe SEC and is not necessarily indicative of ownership for any other purpose. Under these rules, a person is deemed to be a “beneficial\nowner” of a security if that person has or shares the power to vote or direct the voting of the security or the power to dispose\nor direct the disposition of the security. A person is deemed to own beneficially any security as to which such person has the right\nto acquire sole or shared voting or investment power within 60 days through the conversion or exercise of any convertible security, warrant,\noption or other right. More than one person may be deemed to be a beneficial owner of the same securities. The percentage of beneficial\nownership by any person as of a particular date is calculated by dividing the number of shares beneficially owned by such person, which\nincludes the number of shares as to which such person has the right to acquire voting or investment power within 60 days, by the sum\nof the number of shares outstanding as of such date, plus the number of shares as to which such person has the right to acquire voting\nor investment power within 60 days. Consequently, the denominator used for calculating such percentage may be different for each beneficial\nowner. Except as otherwise indicated below and under applicable community property laws, we believe that the beneficial owners of our\nshares listed below have sole voting and investment power with respect to the shares shown.\n\n \n\n60\n\n \n\n \n\nUnless\notherwise noted below, the address of each person listed on the table is 14 Ang Mo Kio Street 63, Singapore 569116.\n\n \n\n  \n\n**Shares Beneficially**\n\n**Owned as of the**\n\n**date\nof this**\n\n**Annual Report**\n  \n\n**Shares Beneficially**\n\n**Owned after this**\n\n**Annual Report**\n \n\nName of Beneficial Owner \nNumber  \nPercentage  \nNumber  \nPercentage \n\n  \n   \n   \n   \n  \n\nNamed Executive Directors and Officers: \n    \n    \n    \n   \n\n  \n    \n    \n    \n   \n\nJimmy Neo(1) \n 3,551,156  \n 21.96  \n 3,551,156  \n 21.96 \n\nEdward Neo(1) \n 3,551,156  \n 21.96  \n 3,551,156  \n 21.96 \n\nCK Neo(1) \n 3,551,156  \n 21.96  \n 3,551,156  \n 21.96 \n\n  \n    \n    \n    \n   \n\nIndependent Directors: \n    \n    \n    \n   \n\nYee Yen Han \n -  \n -  \n -  \n - \n\nChin Chye Koh \n -  \n -  \n -  \n - \n\nGang Wong \n -  \n -  \n -  \n - \n\n  \n    \n    \n    \n   \n\n5% or Greater Shareholders: \n    \n    \n    \n   \n\nCE Neo(1) \n 3,551,156  \n 21.96  \n 3,551,156  \n 21.96 \n\n  \n    \n    \n    \n   \n\nTotal \n 14,204,624  \n 87.84  \n 14,204,624  \n 87.84 \n\n \n\n(1)\nThese shares are held by Soon Aik Global Pte Ltd, which is owned by CE Neo, Jimmy Neo, Edward Neo and CK Neo, each respectively holding\na 25.0% interest.\n\n \n\n**Related\nParty Transactions**\n\n \n\nWe\nhave adopted an audit committee charter, which requires the committee to review all related-party transactions on an ongoing basis and\nall such transactions be approved by the committee on a going forward basis.\n\n \n\nSet\nforth below are related party transactions of our Company for the financial years ended December 31, 2025, 2024 and 2023, which are identified\nin accordance with the rules prescribed under Form 20-F and may be considered as related party transactions under Singapore law, and\nwhich reflects all related party transactions as of the date of this Annual Report.\n\n \n\nSales,\nsundry income, cost of sales and expenses for the related entities above for the financial years ended December 31, 2025, 2024 and 2023\nwere:\n\n \n\n  \nFinancial Years Ended December 31, \n\n  \n2025  \n2024  \n2023 \n\nNature of transactions \n$’000  \n$’000  \n$’000 \n\n  \n   \n   \n  \n\nSale of products \n    \n    \n   \n\n- Spare-Parts Zone (Australia) Pty Ltd(2) \n 764  \n 554  \n 289 \n\n- Branded Filters Pty Ltd(2)  \n 474  \n 658  \n 633 \n\n- Jurong Barrels & Drums Industries Pte Ltd(1) \n 7  \n -  \n - \n\n- Auto Saver Pte Ltd(3)  \n 236  \n 231  \n 243 \n\n- PT Heavy Machindo Diesel(2)  \n 702  \n 644  \n 882 \n\n- Oceania Power & Solutions Pty Ltd(2) \n 75  \n 69  \n 179 \n\n- Soon Aik Global Pte Ltd(3)  \n 1  \n \n-\n  \n \n-\n \n\n  \n    \n    \n   \n\nSundry income \n    \n    \n   \n\n- Spare-Parts Zone (Australia) Pty Ltd(2) \n -  \n -  \n - \n\n- Branded Filters Pty Ltd(2) \n 17  \n -  \n - \n\n- Auto Saver Pte Ltd(3)  \n -  \n -  \n 4 \n\n- Oceania Power & Solutions Pty Ltd(2) \n 6  \n 25  \n 25 \n\n- PT Heavy Machindo Diesel(2)  \n 5  \n -  \n - \n\n- Soon Aik Global Pte Ltd(3) \n -  \n    \n   \n\n  \n    \n    \n   \n\nPurchases \n    \n    \n   \n\n- Branded Filters Pty Ltd(2)  \n 176  \n 99  \n 490 \n\n- PT Heavy Machindo Diesel(2)  \n 1,399  \n 1,334  \n 1,293 \n\n- Oceania Power & Solutions Pty Ltd(2) \n 257  \n 62  \n 176 \n\n- Jurong Barrels & Drums Industries Pte Ltd(1) \n -  \n \n-\n  \n 1 \n\n- Auto Saver Pte Ltd(3)  \n 1  \n -  \n - \n\n- Kiwami Corporation(2)  \n 23  \n -  \n - \n\n  \n    \n    \n   \n\nExpenses \n    \n    \n   \n\n- EU Group Pte Ltd(1)  \n 559  \n 549  \n 545 \n\n- Branded Filters Pty Ltd(2)  \n -  \n \n-\n  \n 8 \n\n- Oceania Power & Solutions Pty Ltd(2) \n -  \n -  \n 2 \n\n- Jurong Barrels & Drums Industries Pte Ltd(1) \n 1  \n    \n   \n\n- Soon Aik Global Pte Ltd(3)  \n 181  \n 150  \n 151 \n\n- Auto Saver Pte Ltd(3)  \n 243  \n 310  \n 332 \n\n- Fleetzone Autoparts (M) Sdn Bhd(3) \n 28  \n 28  \n 22 \n\n- PT Heavy Machindo Diesel(2) \n -  \n -  \n - \n\n- Kiwami Corporation(2) \n -  \n -  \n - \n\n- N-United Pte Ltd(2) \n 43  \n 12  \n - \n\n \n\n-\nThese are related to the figures which are immaterial.\n\n \n\n61\n\n \n\n \n\nThe\nrelated parties are controlled by the common directors of the Company as follows:\n\n \n\n \n(1)\nJimmy\nNeo owns a 50.0% equity stake in EU Holdings Pte Ltd, which in turn is the parent entity of EU Group Pte Ltd and Jurong Barrels &\nDrums Industries Pte Ltd.\n\n \n(2)\nCE\nNeo is the sole owner of an entity called Soon Aik Holdings Pte Ltd (“SA Holdings”) and N-United Pte Ltd (“N-United”)\nin Singapore, which in turn are sole owners of the following entities, which entities facilitate our Group’s sales in Australia\nand Indonesia. SA Holdings is the parent entity of Spare-Parts Zone (Australia) Pty Ltd, and Branded Filters Pty Ltd, and an associated\nentity with Oceania Power & Solutions Pty Ltd. in Australia. N-United is the parent entity of PT Heavy Machindo Diesel in Indonesia.\n\n \n(3)\nSoon\nAik Global Pte Ltd (“Soon Aik”), the controlling shareholder of INNEOVA, in turn is also the parent entity of Auto Saver\nPte Ltd (“Auto Saver”) and Fleetzone Autoparts (M) Sdn Bhd (“Fleetzone”). Auto Saver oversees one (1) automotive\nservice workshop in Singapore. Fleetzone manages the property in Malaysia which is leased to INNEOVA Malaysia. Soon Aik is also\nan investment holding entity and property owner, which rents properties to INNEOVA Automotive for their retail businesses.\n\n \n\nThe\nshareholders of Soon Aik Global Pte Ltd, CE Neo, Jimmy Neo, Edward Neo and CK Neo, also provide corporate and personal guarantees for\nbank credit facilities.\n\n \n\n**INTERESTS\nOF EXPERTS AND COUNSEL**\n\n \n\nNot\nApplicable\n\n \n\n**LEGAL\nPROCEEDINGS**\n\n \n\nNot\nApplicable"}