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BUSINESS OVERVIEW AND BASIS OF PRESENTATION (Tables)

12 Months Ended

Dec. 31, 2024

Accounting Policies [Abstract]

SCHEDULE OF SUBSIDIARIES INCORPORATED

Description of subsidiaries incorporated and controlled by the Company

 SCHEDULE OF SUBSIDIARIES INCORPORATED

Name		Background		Effective ownership
INNEOVA Group Limited (formerly known as SAG Investments Limited) (“INNEOVA Group”)		● British Virgin Islands company ● Incorporated on November 17, 2021 ● Issued and outstanding 1,000 ordinary shares for US$1,000 ● Investment holding ● Provision of investment holding		100% owned by INNEOVA
INNEOVA Industrial Pte. Ltd. (formerly known as Filtec Private Limited) (“INNEOVA Industrial”)		● Singaporean company ● Incorporated on September 1, 1999 ● Issued and outstanding 650,000 ordinary shares for SGD650,000 ● Manufacturing and repair of separation or mixing equipment and general wholesale trade		100% owned by INNEOVA Group
INNEOVA Automotive Pte. Ltd. (formerly known as Spare-Parts Zone Pte. Ltd.) (“INNEOVA Automotive”)		● Singaporean company ● Incorporated on January 3, 1995 ● Issued and outstanding 1,000,000 ordinary shares for SGD1,000,000 ● Supply a wide range of automotive spare parts and lubricants genuine and aftermarket spare parts for use in passenger and commercial on-highway vehicles		100% owned by INNEOVA Group
Autozone Automotive Pte Ltd (“Autozone (S)”)		● Singaporean company ● Incorporated on December 7, 2009 ● Issued and outstanding 1,000,000 ordinary shares for SGD1,000,000 ● Manufacturing and processing of automotive components or parts assembling re-engineering		100% owned by INNEOVA Automotive
INNEOVA Malaysia Sdn. Bhd (formerly known as Autozone Sdn. Bhd.) (“INNEOVA Malaysia”)		● Malaysian company ● Incorporated on December 17, 2009 ● Issued and outstanding 650,000 ordinary share for MYR650,000 ● Franchising of automotive parts retail		100% owned by Autozone (S)

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- Definition

The tabular disclosure of the effects of any changes in a parent's ownership interest in a subsidiary on the equity attributable to the parent if the ownership interests in a subsidiary changes during the period. The changes represented by this element did not result in the deconsolidation of the subsidiary.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4M
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481175/810-10-55-4M

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Subparagraph (d)
-SubTopic 10
-Topic 810
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481203/810-10-50-1A

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