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NOTE－1 BUSINESS OVERVIEW AND BASIS OF PRESENTATION INNEOVA Holdings Limited (“INNEOVA Holdings”) is incorporated in the Cayman Islands on February 14, 2022 under the Companies Act (as revised) as an exempted company with limited liability. The Company was established under the laws of Cayman Islands on February 14, 2022, with authorized share of 100,000,000 ordinary shares of par value US$0.001 each. On January 5, 2024, the Company amended its memorandum of association to effect a 1:2 forward stock split and to change the authorized share capital to $100,000 divided into 200,000,000 ordinary shares, of a par value of $0.0005 each. INNEOVA Holdings, through its subsidiaries (collectively referred to as the “Company”) are mainly engaged in the sale and distribution of the automotive and industrial spare parts with operations primarily based out of Singapore, and global sales primarily generated from the Middle East and Malaysia. The Company has over 40 years of experience in supplying genuine and aftermarket spare parts to on-highway applications and services on overhaul, repair and maintenance. Over the years, the Company has extended to supply the products and services to applications in the marine, energy, mining, construction, agriculture, and oil and gas industries. The business is comprised of INNEOVA Automotive Division serving the automotive sector, INNEOVA Industrial Division primarily servicing the marine, energy, mining, construction, agriculture, and oil and gas sectors and INNEOVA Engineering Division primarily servicing the marine, energy, mining, construction, agriculture, and oil and gas sectors. <p id="xdx_895_eus-gaap--ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestEffectsOfChangesNetTextBlock_ze01DfvoLjv7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">Description of subsidiaries incorporated and controlled by the Company SCHEDULE OF SUBSIDIARIES INCORPORATED <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify">Name</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: justify"> </td> <td colspan="2" style="border-bottom: Black 1pt solid">Background</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: justify"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify">Effective ownership</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 25%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 2%"> </td> <td style="width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 53%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 16%"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">INEO Group Limited (“INNEOVA Group”) </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif">● <span id="xdx_90A_ecustom--EntityIncorporationPlaceOfIncorporation_c20260101__20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--IneoGroupLimitedMember_zNGL2EXrT9jj" title="Place of incorporation">British Virgin Islands company ● Incorporated on <span id="xdx_900_edei--EntityIncorporationDateOfIncorporation_dd_c20260101__20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--IneoGroupLimitedMember_zA5h80Dd8yza" title="Date of incorporation">November 17, 2021 ● Issued and outstanding <span id="xdx_90B_eus-gaap--CommonStockSharesIssued_iI_pid_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--IneoGroupLimitedMember_zXYb3jKIOuk1" title="Ordinary shares, issued"><span id="xdx_904_eus-gaap--CommonStockSharesOutstanding_iI_pid_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--IneoGroupLimitedMember_z1TfwDFWHWC1" title="Ordinary shares, issued outstanding">1,000 ordinary shares for US$<span id="xdx_906_eus-gaap--CommonStockValue_iI_pp0p0_uUSD_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--IneoGroupLimitedMember_zINcsQNSdW66" title="Ordinary shares value">1,000 ● <span id="xdx_905_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20260101__20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--IneoGroupLimitedMember_zAPOxjErHCHc" title="Description of principal activities">Investment holding ● Provision of investment holding</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_907_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--IneoGroupLimitedMember_zojyg5TPMUDa" title="Effective ownership percentage">100% owned by INEO</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">INNEOVA Industrial Pte Ltd (“INNEOVA Industrial”)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif">● <span id="xdx_906_ecustom--EntityIncorporationPlaceOfIncorporation_c20260101__20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaIndustrialPteLtdMember_zT5ij8aAqs48" title="Place of incorporation">Singaporean company ● Incorporated on <span id="xdx_902_edei--EntityIncorporationDateOfIncorporation_dd_c20260101__20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaIndustrialPteLtdMember_zEOxSs6mrOL7" title="Date of incorporation">September 1, 1999 ● Issued and outstanding <span id="xdx_906_eus-gaap--CommonStockSharesIssued_iI_pid_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaIndustrialPteLtdMember_zpxWxvdrZi9i" title="Ordinary shares, issued"><span id="xdx_902_eus-gaap--CommonStockSharesOutstanding_iI_pid_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaIndustrialPteLtdMember_z08aCBpwuESf" title="Ordinary shares, outstanding">650,000 ordinary shares for SGD<span id="xdx_907_eus-gaap--CommonStockValue_iI_pp0p0_uSGD_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaIndustrialPteLtdMember_zhONkix8CvK5" title="Ordinary shares value">650,000 ● <span id="xdx_908_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20260101__20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaIndustrialPteLtdMember_zHxKz8Sd6Cu3" title="Description of principal activities">Manufacturing and repair of separation or mixing equipment and general wholesale trade</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_907_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaIndustrialPteLtdMember_zsGosWyFsTD4" title="Effective ownership percentage">100% owned by INNEOVA Group</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">INNEOVA Automotive Pte Ltd (“INNEOVA Automotive”)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif">● <span id="xdx_90D_ecustom--EntityIncorporationPlaceOfIncorporation_c20260101__20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaAutomotivePteLtdMember_zzcDG1XbEG7j" title="Place of incorporation">Singaporean company ● Incorporated on <span id="xdx_908_edei--EntityIncorporationDateOfIncorporation_dd_c20260101__20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaAutomotivePteLtdMember_zrP9CRy1Uf7g" title="Date of incorporation">January 3, 1995 ● Issued and outstanding <span id="xdx_90E_eus-gaap--CommonStockSharesIssued_iI_pid_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaAutomotivePteLtdMember_zpDVnXMo68y2" title="Ordinary shares, issued"><span id="xdx_906_eus-gaap--CommonStockSharesOutstanding_iI_pid_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaAutomotivePteLtdMember_zOzPXlaYO57" title="Ordinary shares, outstanding">1,000,00 ordinary shares for SGD<span id="xdx_907_eus-gaap--CommonStockValue_iI_pp0p0_uSGD_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaAutomotivePteLtdMember_zENOS52muZD2" title="Ordinary shares value">1,000,000 ● <span id="xdx_901_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20260101__20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaAutomotivePteLtdMember_zrbYRlEyYdJe" title="Description of principal activities">Supply a wide range of automotive spare parts and lubricants genuine and aftermarket spare parts for use in passenger and commercial on-highway vehicles</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_90D_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaAutomotivePteLtdMember_z0xoENyRGtH8" title="Effective ownership percentage">100% owned by INNEOVA Group</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">Autozone Automotive Pte. Ltd. (“Autozone (S)”)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif">● <span id="xdx_903_ecustom--EntityIncorporationPlaceOfIncorporation_c20260101__20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AutozoneAutomotivePteLtdMember_zFAMF9UQgTG9" title="Place of incorporation">Singaporean company ● Incorporated on <span id="xdx_903_edei--EntityIncorporationDateOfIncorporation_dd_c20260101__20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AutozoneAutomotivePteLtdMember_zt6ZsNTGNS6j" title="Date of incorporation">December 7, 2009 ● Issued and outstanding <span id="xdx_906_eus-gaap--CommonStockSharesIssued_iI_pid_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AutozoneAutomotivePteLtdMember_zLH2FX54GDWi" title="Ordinary shares, issued"><span id="xdx_90E_eus-gaap--CommonStockSharesOutstanding_iI_pid_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AutozoneAutomotivePteLtdMember_zSM0DpxsZN31" title="Ordinary shares, outstanding">1,000,000 ordinary shares for SGD<span id="xdx_907_eus-gaap--CommonStockValue_iI_pp0p0_uSGD_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AutozoneAutomotivePteLtdMember_zog5trO8FuUd" title="Ordinary shares value">1,000,000 ● <span id="xdx_904_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20260101__20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AutozoneAutomotivePteLtdMember_z3OGRdUT6Gi4" title="Description of principal activities">Manufacturing and processing of automotive components or parts assembling re-engineering</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_905_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AutozoneAutomotivePteLtdMember_zibG4yOob8B4" title="Effective ownership percentage">100% owned by INNEOVA Automotive</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">INNEOVA Malaysia (“INNEOVA Malaysia”)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif">● <span id="xdx_905_ecustom--EntityIncorporationPlaceOfIncorporation_c20260101__20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaMalaysiaSdnBhdMember_z39H07XY7Ufb" title="Place of incorporation">Malaysian company ● Incorporated on <span id="xdx_905_edei--EntityIncorporationDateOfIncorporation_dd_c20260101__20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaMalaysiaSdnBhdMember_zOGmZoHaBv3i" title="Date of incorporation">December 17, 2009 ● Issued and outstanding <span id="xdx_907_eus-gaap--CommonStockSharesIssued_iI_pid_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaMalaysiaSdnBhdMember_zhQvI1uN6sqb" title="Ordinary shares, issued"><span id="xdx_90F_eus-gaap--CommonStockSharesOutstanding_iI_pid_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaMalaysiaSdnBhdMember_zdyIi7enkUsh" title="Ordinary shares, outstanding">650,000 ordinary share for MYR<span id="xdx_90E_eus-gaap--CommonStockValue_iI_pp0p0_uMYR_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaMalaysiaSdnBhdMember_zeUO9kVFV9h2" title="Ordinary shares value">650,000 ● <span id="xdx_905_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20260101__20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaMalaysiaSdnBhdMember_zXEnxX0Q8s3" title="Description of principal activities">Franchising of automotive parts retail</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_90D_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaMalaysiaSdnBhdMember_zwzr9ANET7l3" title="Effective ownership percentage">100% owned by INNEOVA Group</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 11.15pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">INNEOVA Engineering (“INNEOVA Engineering”)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif">● <span id="xdx_901_ecustom--EntityIncorporationPlaceOfIncorporation_c20260101__20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaEngineeringMember_z9dO75p9MVd4" title="Place of incorporation">Singapore company ● Incorporated on <span id="xdx_909_edei--EntityIncorporationDateOfIncorporation_dd_c20260101__20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaEngineeringMember_z5gaPDBcVYba" title="Date of incorporation">April 13, 1996 ● Issued and outstanding <span id="xdx_90A_eus-gaap--CommonStockSharesIssued_iI_pid_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaEngineeringMember_z0LQ30Weo4B3" title="Ordinary shares, issued"><span id="xdx_902_eus-gaap--CommonStockSharesOutstanding_iI_pid_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaEngineeringMember_zbAjZW3x08ej" title="Ordinary shares, outstanding">400,000 ordinary share for SGD<span id="xdx_903_eus-gaap--CommonStockValue_iI_pp0p0_uSGD_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaEngineeringMember_zh5ON7F08gkc" title="Ordinary shares value">400,000 ● <span id="xdx_907_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20260101__20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaEngineeringMember_zMiaEg31H0Vj" title="Description of principal activities">Repair of machinery and equipment including gear box for use of motor vehicles, cranes and other heavy industrial equipment</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_907_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaEngineeringMember_zLJ15dbnFSMf" title="Effective ownership percentage">100% owned by INNEOVA Group</td></tr> </table> Reorganization Since 2022, the Company completed several transactions for the purposes of a group reorganization, as below:- On February 14, 2022, Soon Aik (initial shareholder) and Celestial Horizon entered into the Acquisition Agreement, pursuant to which Celestial acquired <span id="xdx_907_eus-gaap--BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued_c20220214__20220214__us-gaap--TypeOfArrangementAxis__custom--AcquisitionAgreementMember__us-gaap--BusinessAcquisitionAxis__custom--CelestialHorizonHoldingsLimitedMember_zQoSly5cs8Qk" title="Number of shares acquired">49 shares of INNEOVA Group (representing approximately <span id="xdx_90C_eus-gaap--BusinessAcquisitionPercentageOfVotingInterestsAcquired_iI_pid_dp_uPure_c20220214__us-gaap--TypeOfArrangementAxis__custom--AcquisitionAgreementMember__us-gaap--BusinessAcquisitionAxis__custom--CelestialHorizonHoldingsLimitedMember_zFzBKCqyEJ4i" title="Percentage of voting equity interest acquired">4.9% shareholding interest in INNEOVA Group) from Soon Aik for consideration of US$<span id="xdx_903_eus-gaap--BusinessCombinationConsiderationTransferred1_pn5n6_c20220214__20220214__us-gaap--TypeOfArrangementAxis__custom--AcquisitionAgreementMember__us-gaap--BusinessAcquisitionAxis__custom--CelestialHorizonHoldingsLimitedMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SoonAikGlobalPteLtdMember_zcRjyRThOovf" title="Business combination, consideration">0.8 million. As a term of the acquisition, Soon Aik undertakes to transfer the entire issued share capital of INNEOVA Industrial and INNEOVA Automotive to the INNEOVA Group. Following such transfer, Soon Aik owned <span id="xdx_903_ecustom--BusinessAcquisitionEquityInterestsNumberOfSharesOwned_c20220214__20220214__us-gaap--TypeOfArrangementAxis__custom--AcquisitionAgreementMember__us-gaap--BusinessAcquisitionAxis__custom--SoonAikGlobalPteLtdMember_zSUwfSKxMYw9" title="Number of shares owned">951 shares and Celestial Horizon owned <span id="xdx_902_ecustom--BusinessAcquisitionEquityInterestsNumberOfSharesOwned_pid_c20220214__20220214__us-gaap--TypeOfArrangementAxis__custom--AcquisitionAgreementMember__us-gaap--BusinessAcquisitionAxis__custom--CelestialHorizonHoldingsLimitedMember_z8bdTRq2qb52" title="Number of shares owned">49 shares, respectively. On February 17, 2022, INNEOVA Automotive entered into an instrument of transfer and bought and sold note with Soon Aik pursuant to which INNEOVA Automotive transferred its entire legal and beneficial shareholding interest in Auto Saver Pte. Ltd. to Soon Aik for nominal consideration. On September 29, 2022, Soon Aik and INNEOVA Group entered into a sale and purchase agreement pursuant to which Soon Aik transferred its entire shareholding interest in INNEOVA Automotive to INNEOVA Group. The consideration is settled by INNEOVA Group allotting and issuing <span id="xdx_909_eus-gaap--SharesIssued_iI_pid_c20220929__us-gaap--TypeOfArrangementAxis__custom--SaleAndPurchaseAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SoonAikGlobalPteLtdMember_z8QNwhCl1eQh" title="Number of shares issued">1 share to Soon Aik, credited as fully paid. On September 29, 2022, Soon Aik and INNEOVA Group entered into a sale and purchase agreement pursuant to which Soon Aik transferred the entire issued share capital of INNEOVA Industrial to INNEOVA Group in consideration of the allotment and issue of <span id="xdx_90C_eus-gaap--SharesIssued_iI_pid_c20220929__us-gaap--TypeOfArrangementAxis__custom--SaleAndPurchaseAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SoonAikGlobalPteLtdMember_z3rxOkUrtVr7" title="Number of shares issued">1 share in INNEOVA Group to Soon Aik, credited as fully paid. On September 29, 2022, Celestial Horizon, Soon Aik and INNEOVA Holdings entered into a reorganization agreement, pursuant to which Soon Aik and Celestial Horizon transferred their respective <span id="xdx_902_ecustom--BusinessAcquisitionEquityInterestsNumberOfSharesTransferred_pid_c20220929__20220929__us-gaap--TypeOfArrangementAxis__custom--SaleAndPurchaseAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SoonAikGlobalPteLtdMember_zK4artdgfWo2" title="Number of share transferred">951 and <span id="xdx_90D_ecustom--BusinessAcquisitionEquityInterestsNumberOfSharesTransferred_pid_c20220929__20220929__us-gaap--TypeOfArrangementAxis__custom--ReorganizationAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CelestialHorizonHoldingsLimitedMember_zQFhbbrVUy5l" title="Number of share transferred">49 shares (representing <span id="xdx_900_eus-gaap--MinorityInterestOwnershipPercentageByNoncontrollingOwners_iI_dp_c20220929__srt--OwnershipAxis__custom--SoonAikGlobalPteLtdMember__us-gaap--TypeOfArrangementAxis__custom--ReorganizationAgreementMember_zMiM89IlUXM6" title="Percentage of shareholding interest">95.1% and <span id="xdx_90B_eus-gaap--MinorityInterestOwnershipPercentageByNoncontrollingOwners_iI_dp_c20220929__srt--OwnershipAxis__custom--CelestialHorizonHoldingsLimitedMember__us-gaap--TypeOfArrangementAxis__custom--ReorganizationAgreementMember_z1Q0DGRyfe28" title="Percentage of shareholding interest">4.9% shareholding interest in INNEOVA Group, respectively) to INNEOVA Holdings. The consideration is settled by INNEOVA Holdings issuing <span id="xdx_90C_eus-gaap--SharesIssued_iI_pid_c20220929__us-gaap--TypeOfArrangementAxis__custom--ReorganizationAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SoonAikGlobalPteLtdMember_zKKagGnXgLi7" title="Number of shares issued">8,915,624 and <span id="xdx_903_eus-gaap--SharesIssued_iI_pid_c20220929__us-gaap--TypeOfArrangementAxis__custom--ReorganizationAgreementMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--CelestialHorizonHoldingsLimitedMember_zyElQCBllepf" title="Number of shares issued">459,375 Shares to Soon Aik and Celestial Horizon respectively, credited as fully paid. On January 5, 2024, for purposes of recapitalization in anticipation of the initial public offering, the Company amended its memorandum of association to effect a 1:2 forward stock split and to change the authorized share capital to $100,000 divided into 200,000,000 ordinary shares, of a par value of $0.0005 each. On January 5, 2024 and January 18, 2024, <span id="xdx_906_eus-gaap--StockholdersEquityNoteStockSplit_c20240105__20240105__us-gaap--TypeOfArrangementAxis__custom--ReorganizationAgreementMember_zsktb4aMz0u1" title="Description of forward stock split">Soon Aik surrendered in aggregate 9,272,250 ordinary shares to the Company. Celestial surrendered in aggregate 477,750 ordinary shares to the Company. Unless otherwise indicated, all references to Ordinary Shares, share data, per share data, and related information have been retroactively adjusted, where applicable, in this prospectus to reflect the 1:2 forward stock split of our Ordinary Shares on January 5, 2024 and the shares surrendered by our existing shareholders on January 5, 2024 and January 18, 2024 as if they had occurred at the beginning of the earlier period presented. Prior to a group reorganization, INNEOVA Group was the holding company of a group of companies comprised of INNEOVA Industrial, INNEOVA Automotive, Autozone (S) and INNEOVA Malaysia. INNEOVA Group held as to <span id="xdx_906_eus-gaap--EquityOwnershipPercentageExcludingConsolidatedEntityAndEquityMethodInvestee_iI_pid_dp_uPure_c20240105__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SoonAikGlobalPteLtdMember__us-gaap--TypeOfArrangementAxis__custom--ReorganizationAgreementMember_zerHIncsCatf" title="Percentage of shareholding interest">95.1% by Soon Aik and <span id="xdx_909_eus-gaap--EquityOwnershipPercentageExcludingConsolidatedEntityAndEquityMethodInvestee_iI_pid_dp_uPure_c20240105__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--CelestialHorizonHoldingsLimitedMember__us-gaap--TypeOfArrangementAxis__custom--ReorganizationAgreementMember_zvYTP55Imb3k" title="Percentage of shareholding interest">4.9% by Celestial Horizon, the latter of which is an independent third party. Upon completion of the reorganization and forward stock split, Soon Aik owns <span id="xdx_907_ecustom--EquityMethodInvestmentOwnershipShares_iI_c20240105__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SoonAikGlobalPteLtdMember__us-gaap--TypeOfArrangementAxis__custom--ReorganizationAgreementMember_zy4L4YkK4Bch" title="Number of shares owned">8,559,000 shares and Celestial owns <span id="xdx_909_ecustom--EquityMethodInvestmentOwnershipShares_iI_c20240105__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--CelestialHorizonHoldingsLimitedMember__us-gaap--TypeOfArrangementAxis__custom--ReorganizationAgreementMember_z1eGTMrPOZm6" title="Number of shares owned">441,000 shares of the Company respectively, and INNEOVA Group, INNEOVA Industrial, INNEOVA Automotive, Autozone (S) and INNEOVA Malaysia become directly/indirectly owned subsidiaries. During the financial years presented in these consolidated financial statements, the control of the entities has remained under the control of Soon Aik. Accordingly, the combination has been treated as a corporate restructuring (“Reorganization”) of entities under common control and thus the current capital structure has been retroactively presented in prior periods as if such structure existed at that time and in accordance with ASC 805-50-45-5, the entities under common control are presented on a combined basis for all periods to which such entities were under common control. The consolidation of INNEOVA Holdings and its subsidiaries has been accounted for at historical cost and prepared on the basis as if the aforementioned transactions had become effective as of the beginning of the first period presented in the accompanying consolidated financial statements. 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. 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. Soon Aik transferred the entire issued share capital of INNEOVA Engineering to INNEOVA Group in consideration of the allotment and issue of <span id="xdx_902_ecustom--EquityMethodInvestmentOwnershipShares_iI_c20250430__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SoonAikGlobalPteLtdMember__us-gaap--TypeOfArrangementAxis__custom--ReorganizationAgreementMember_zHoNIzsiA8Ll" title="Number of shares owned">6,295,624 share in INNEOVA Group to Soon Aik, credited as fully paid.

100000000

0.001

100000

200000000

0.0005

<p id="xdx_895_eus-gaap--ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestEffectsOfChangesNetTextBlock_ze01DfvoLjv7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">Description of subsidiaries incorporated and controlled by the Company SCHEDULE OF SUBSIDIARIES INCORPORATED <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify">Name</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: justify"> </td> <td colspan="2" style="border-bottom: Black 1pt solid">Background</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: justify"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: justify">Effective ownership</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 25%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 2%"> </td> <td style="width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 53%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify; width: 16%"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">INEO Group Limited (“INNEOVA Group”) </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif">● <span id="xdx_90A_ecustom--EntityIncorporationPlaceOfIncorporation_c20260101__20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--IneoGroupLimitedMember_zNGL2EXrT9jj" title="Place of incorporation">British Virgin Islands company ● Incorporated on <span id="xdx_900_edei--EntityIncorporationDateOfIncorporation_dd_c20260101__20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--IneoGroupLimitedMember_zA5h80Dd8yza" title="Date of incorporation">November 17, 2021 ● Issued and outstanding <span id="xdx_90B_eus-gaap--CommonStockSharesIssued_iI_pid_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--IneoGroupLimitedMember_zXYb3jKIOuk1" title="Ordinary shares, issued"><span id="xdx_904_eus-gaap--CommonStockSharesOutstanding_iI_pid_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--IneoGroupLimitedMember_z1TfwDFWHWC1" title="Ordinary shares, issued outstanding">1,000 ordinary shares for US$<span id="xdx_906_eus-gaap--CommonStockValue_iI_pp0p0_uUSD_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--IneoGroupLimitedMember_zINcsQNSdW66" title="Ordinary shares value">1,000 ● <span id="xdx_905_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20260101__20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--IneoGroupLimitedMember_zAPOxjErHCHc" title="Description of principal activities">Investment holding ● Provision of investment holding</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_907_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--IneoGroupLimitedMember_zojyg5TPMUDa" title="Effective ownership percentage">100% owned by INEO</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">INNEOVA Industrial Pte Ltd (“INNEOVA Industrial”)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif">● <span id="xdx_906_ecustom--EntityIncorporationPlaceOfIncorporation_c20260101__20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaIndustrialPteLtdMember_zT5ij8aAqs48" title="Place of incorporation">Singaporean company ● Incorporated on <span id="xdx_902_edei--EntityIncorporationDateOfIncorporation_dd_c20260101__20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaIndustrialPteLtdMember_zEOxSs6mrOL7" title="Date of incorporation">September 1, 1999 ● Issued and outstanding <span id="xdx_906_eus-gaap--CommonStockSharesIssued_iI_pid_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaIndustrialPteLtdMember_zpxWxvdrZi9i" title="Ordinary shares, issued"><span id="xdx_902_eus-gaap--CommonStockSharesOutstanding_iI_pid_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaIndustrialPteLtdMember_z08aCBpwuESf" title="Ordinary shares, outstanding">650,000 ordinary shares for SGD<span id="xdx_907_eus-gaap--CommonStockValue_iI_pp0p0_uSGD_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaIndustrialPteLtdMember_zhONkix8CvK5" title="Ordinary shares value">650,000 ● <span id="xdx_908_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20260101__20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaIndustrialPteLtdMember_zHxKz8Sd6Cu3" title="Description of principal activities">Manufacturing and repair of separation or mixing equipment and general wholesale trade</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_907_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaIndustrialPteLtdMember_zsGosWyFsTD4" title="Effective ownership percentage">100% owned by INNEOVA Group</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">INNEOVA Automotive Pte Ltd (“INNEOVA Automotive”)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif">● <span id="xdx_90D_ecustom--EntityIncorporationPlaceOfIncorporation_c20260101__20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaAutomotivePteLtdMember_zzcDG1XbEG7j" title="Place of incorporation">Singaporean company ● Incorporated on <span id="xdx_908_edei--EntityIncorporationDateOfIncorporation_dd_c20260101__20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaAutomotivePteLtdMember_zrP9CRy1Uf7g" title="Date of incorporation">January 3, 1995 ● Issued and outstanding <span id="xdx_90E_eus-gaap--CommonStockSharesIssued_iI_pid_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaAutomotivePteLtdMember_zpDVnXMo68y2" title="Ordinary shares, issued"><span id="xdx_906_eus-gaap--CommonStockSharesOutstanding_iI_pid_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaAutomotivePteLtdMember_zOzPXlaYO57" title="Ordinary shares, outstanding">1,000,00 ordinary shares for SGD<span id="xdx_907_eus-gaap--CommonStockValue_iI_pp0p0_uSGD_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaAutomotivePteLtdMember_zENOS52muZD2" title="Ordinary shares value">1,000,000 ● <span id="xdx_901_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20260101__20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaAutomotivePteLtdMember_zrbYRlEyYdJe" title="Description of principal activities">Supply a wide range of automotive spare parts and lubricants genuine and aftermarket spare parts for use in passenger and commercial on-highway vehicles</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_90D_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaAutomotivePteLtdMember_z0xoENyRGtH8" title="Effective ownership percentage">100% owned by INNEOVA Group</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">Autozone Automotive Pte. Ltd. (“Autozone (S)”)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif">● <span id="xdx_903_ecustom--EntityIncorporationPlaceOfIncorporation_c20260101__20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AutozoneAutomotivePteLtdMember_zFAMF9UQgTG9" title="Place of incorporation">Singaporean company ● Incorporated on <span id="xdx_903_edei--EntityIncorporationDateOfIncorporation_dd_c20260101__20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AutozoneAutomotivePteLtdMember_zt6ZsNTGNS6j" title="Date of incorporation">December 7, 2009 ● Issued and outstanding <span id="xdx_906_eus-gaap--CommonStockSharesIssued_iI_pid_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AutozoneAutomotivePteLtdMember_zLH2FX54GDWi" title="Ordinary shares, issued"><span id="xdx_90E_eus-gaap--CommonStockSharesOutstanding_iI_pid_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AutozoneAutomotivePteLtdMember_zSM0DpxsZN31" title="Ordinary shares, outstanding">1,000,000 ordinary shares for SGD<span id="xdx_907_eus-gaap--CommonStockValue_iI_pp0p0_uSGD_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AutozoneAutomotivePteLtdMember_zog5trO8FuUd" title="Ordinary shares value">1,000,000 ● <span id="xdx_904_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20260101__20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AutozoneAutomotivePteLtdMember_z3OGRdUT6Gi4" title="Description of principal activities">Manufacturing and processing of automotive components or parts assembling re-engineering</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_905_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--AutozoneAutomotivePteLtdMember_zibG4yOob8B4" title="Effective ownership percentage">100% owned by INNEOVA Automotive</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">INNEOVA Malaysia (“INNEOVA Malaysia”)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif">● <span id="xdx_905_ecustom--EntityIncorporationPlaceOfIncorporation_c20260101__20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaMalaysiaSdnBhdMember_z39H07XY7Ufb" title="Place of incorporation">Malaysian company ● Incorporated on <span id="xdx_905_edei--EntityIncorporationDateOfIncorporation_dd_c20260101__20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaMalaysiaSdnBhdMember_zOGmZoHaBv3i" title="Date of incorporation">December 17, 2009 ● Issued and outstanding <span id="xdx_907_eus-gaap--CommonStockSharesIssued_iI_pid_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaMalaysiaSdnBhdMember_zhQvI1uN6sqb" title="Ordinary shares, issued"><span id="xdx_90F_eus-gaap--CommonStockSharesOutstanding_iI_pid_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaMalaysiaSdnBhdMember_zdyIi7enkUsh" title="Ordinary shares, outstanding">650,000 ordinary share for MYR<span id="xdx_90E_eus-gaap--CommonStockValue_iI_pp0p0_uMYR_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaMalaysiaSdnBhdMember_zeUO9kVFV9h2" title="Ordinary shares value">650,000 ● <span id="xdx_905_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20260101__20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaMalaysiaSdnBhdMember_zXEnxX0Q8s3" title="Description of principal activities">Franchising of automotive parts retail</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_90D_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaMalaysiaSdnBhdMember_zwzr9ANET7l3" title="Effective ownership percentage">100% owned by INNEOVA Group</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 11.15pt"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif">INNEOVA Engineering (“INNEOVA Engineering”)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td> </td> <td style="font: 10pt Times New Roman, Times, Serif">● <span id="xdx_901_ecustom--EntityIncorporationPlaceOfIncorporation_c20260101__20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaEngineeringMember_z9dO75p9MVd4" title="Place of incorporation">Singapore company ● Incorporated on <span id="xdx_909_edei--EntityIncorporationDateOfIncorporation_dd_c20260101__20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaEngineeringMember_z5gaPDBcVYba" title="Date of incorporation">April 13, 1996 ● Issued and outstanding <span id="xdx_90A_eus-gaap--CommonStockSharesIssued_iI_pid_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaEngineeringMember_z0LQ30Weo4B3" title="Ordinary shares, issued"><span id="xdx_902_eus-gaap--CommonStockSharesOutstanding_iI_pid_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaEngineeringMember_zbAjZW3x08ej" title="Ordinary shares, outstanding">400,000 ordinary share for SGD<span id="xdx_903_eus-gaap--CommonStockValue_iI_pp0p0_uSGD_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaEngineeringMember_zh5ON7F08gkc" title="Ordinary shares value">400,000 ● <span id="xdx_907_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20260101__20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaEngineeringMember_zMiaEg31H0Vj" title="Description of principal activities">Repair of machinery and equipment including gear box for use of motor vehicles, cranes and other heavy industrial equipment</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_907_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--InneovaEngineeringMember_zLJ15dbnFSMf" title="Effective ownership percentage">100% owned by INNEOVA Group</td></tr> </table>

British Virgin Islands company 2021-11-17

1000

Investment holding

Singaporean company 1999-09-01

650000

Manufacturing and repair of separation or mixing equipment and general wholesale trade

Singaporean company 1995-01-03

1000.00

1000000

Supply a wide range of automotive spare parts and lubricants genuine and aftermarket spare parts for use in passenger and commercial on-highway vehicles

Singaporean company 2009-12-07

1000000

Manufacturing and processing of automotive components or parts assembling re-engineering

Malaysian company 2009-12-17

650000

Franchising of automotive parts retail

Singapore company 1996-04-13

400000

Repair of machinery and equipment including gear box for use of motor vehicles, cranes and other heavy industrial equipment

0.049

800000

951 49

0.951

0.049

8915624

459375

100000

200000000

0.0005

Soon Aik surrendered in aggregate 9,272,250 ordinary shares to the Company. Celestial surrendered in aggregate 477,750 ordinary shares to the Company. Unless otherwise indicated, all references to Ordinary Shares, share data, per share data, and related information have been retroactively adjusted, where applicable, in this prospectus to reflect the 1:2 forward stock split of our Ordinary Shares on January 5, 2024 and the shares surrendered by our existing shareholders on January 5, 2024 and January 18, 2024 as if they had occurred at the beginning of the earlier period presented.

0.951

0.049

8559000 441000 6295624

NOTE－2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES These accompanying consolidated financial statements reflect the application of certain significant accounting policies as described in this note and elsewhere in the accompanying consolidated financial statements and notes. ● Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). ● Use of Estimates and Assumptions The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of revenues and expenses during the financial years presented. Significant accounting estimates in the period include the allowance for doubtful accounts on accounts and other receivables, impairment loss on inventories, assumptions used in assessing right of use assets and impairment of long-lived assets, and deferred tax valuation allowance. ● Basis of Consolidation The consolidated financial statements include the financial statements of the Company and its subsidiaries. All significant inter-company balances and transactions within the Company have been eliminated upon consolidation. ● Non-Controlling Interest The Company reports non-controlling interest in its majority owned subsidiaries in the consolidated balance sheets within the shareholders’ equity section, separately from the Company’s shareholders’ equity. Non-controlling interest represents non-controlling interest holders’ proportionate share of the equity of the Company’s majority-owned subsidiaries. Non-controlling interest is adjusted for non-controlling interest holders’ proportionate share of the earnings or losses and other comprehensive income. ● Foreign Currency Translation and Transaction Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded in the statement of operations. The reporting currency of the Company is United States Dollar (“US$”) and the accompanying consolidated financial statements have been expressed in US$. In addition, the Company and subsidiaries are operating in Singapore and Malaysia, maintain their books and record in their local currency, Singapore Dollars (“SGD”) and Malaysian Ringgit (“MYR”), respectively, which is a functional currency as being the primary currency of the economic environment in which their operations are conducted. In general, for consolidation purposes, assets and liabilities of its subsidiaries whose functional currency is not US$ are translated into US$, in accordance with ASC Topic 830-30, Translation of Financial Statement, using the exchange rate on the balance sheet date. Revenues and expenses are translated at average rates prevailing during the year. The gains and losses resulting from translation of financial statements of foreign subsidiaries are recorded as a separate component of accumulated other comprehensive income within the statements of changes in shareholders’ equity. Translation of amounts from SGD into US$ has been made at the following exchange rates for the six months ended June 30, 2025 and 2024: SCHEDULE OF FOREIGN CURRENCY TRANSLATION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20260630_znyUOaEqLHgd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20250630_z9qJLSBxHzDd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td></tr> <tr id="xdx_40D_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_pid_dp_uPure_hus-gaap--TradingActivityByTypeAxis__custom--YearEndSGDUSDollarExchangeRateMember_zZIN1SO8sdxf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Year-end SGD:US$ exchange rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">1.2763</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">1.2755</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_pid_dp_uPure_hus-gaap--TradingActivityByTypeAxis__custom--AnnualAverageSGDUSDollarExchangeRateMember_zMKakkBr76i4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Annual average SGD:US$ exchange rate</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1.2932</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1.3312</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Translation of amounts from MYR into US$ has been made at the following exchange rates for the six months ended June 30, 2025 and 2024: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20260630_zrJjKIFJxOTi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20250630_z9AkyRL6UnJh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td></tr> <tr id="xdx_408_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_pid_dp_uPure_hus-gaap--TradingActivityByTypeAxis__custom--YearEndMYRUSDollorExchangeRateMember_z9BdZ08Xfyzg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Year-end MYR:US$ exchange rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">0.3176</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">0.3015</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_pid_dp_uPure_hus-gaap--TradingActivityByTypeAxis__custom--AnnualAverageMYRUSDollorExchangeRateMember_zcCadndQO9Gl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Annual average MYR:US$ exchange rate</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">0.3213</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">0.3035</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_pid_dp_uPure_hus-gaap--TradingActivityByTypeAxis__custom--AnnualAverageMYRUSDollorExchangeRateMember_zQaDt8340Nfl" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Exchange rate</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">0.3213</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">0.3035</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Translation gains and losses that arise from exchange rate fluctuations from transactions denominated in a currency other than the functional currency are translated, as the case may be, at the rate on the date of the transaction and included in the results of operations as incurred. ● Cash and Cash Equivalents Cash and cash equivalents consist primarily of cash in readily available checking and saving accounts. Cash equivalents consist of highly liquid investments that are readily convertible to cash and that mature within three months or less from the date of purchase. The carrying amounts approximate fair value due to the short maturities of these instruments. The Company maintains most of its bank accounts in Singapore and Malaysia. ● Restricted Cash Restricted cash held by foreign subsidiaries related to fixed deposits within or more than twelve months that also serve as security and guarantees under the banking facilities. ● Accounts Receivable, net Accounts receivable include trade accounts due from customers in the sale of products. Accounts receivable are recorded at the invoiced amount and do not bear interest, which are due within contractual payment terms. The normal settlement terms of accounts receivable from insurance companies in the provision of brokerage agency services are within 30 days upon the execution of the insurance policies. The Company seeks to maintain strict control over its outstanding receivables to minimize credit risk. Overdue balances are reviewed regularly by senior management. Management reviews its receivables on a regular basis to determine if the bad debt allowance is adequate and provides allowance when necessary. The allowance is based on management’s best estimates of specific losses on individual customer exposures, as well as the historical trends of collections. Account balances are charged off against the allowance after all means of collection have been exhausted and the likelihood of collection is not probable. The Company’s management continues to evaluate the reasonableness of the valuation allowance policy and update it if necessary. The Company adopted ASU 2016-13, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASC 326”). ASC 326 requires the application of a credit loss model based prospectively on current expected credit losses (CECL), and replaces the previous model based retrospectively on past incurred losses. The Company adopted ASC 326 using the modified retrospective method for all financial assets measured at amortized cost. The Company carries accounts receivable at the face amounts less a reserve for estimated credit losses. As of June 30, 2026 and December 31, 2025, allowance for credit loss was approximately $2.6 million and approximately $2.6 million, respectively. The Company does not hold any collateral or other credit enhancements overs its accounts receivable balances. ● Inventories Inventories are valued at the lower of cost or net realizable value. Cost is determined by the average cost method. The Company records adjustments to its inventory for estimated obsolescence or diminution in net realizable value equal to the difference between the cost of the inventory and the estimated net realizable value. At the point of loss recognition, a new cost basis for that inventory is established, and subsequent changes in facts and circumstances do not result in the restoration or increase in that newly established cost basis. ● Property and Equipment, net Property and equipment are stated at cost less accumulated depreciation and accumulated impairment losses, if any. Depreciation is calculated on the straight-line basis over the following expected useful lives from the date on which they become fully operational and after taking into account their estimated residual values: SCHEDULE OF PLANT AND EQUIPMENT ESTIMATED USEFUL LIVES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: justify; padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Expected useful life</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: justify">Leasehold building</td><td style="width: 2%"> </td> <td style="width: 18%; text-align: center"><span id="xdx_904_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--BuildingImprovementsMember_zNuMnsdJzLpk" title="Estimated useful lives">3 years</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Leasehold improvement</td><td> </td> <td style="text-align: center"><span id="xdx_903_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember__srt--RangeAxis__srt--MinimumMember_zO19ig5KMOK8" title="Estimated useful lives">3-<span id="xdx_906_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember__srt--RangeAxis__srt--MaximumMember_zp5YcsyxPgC6" title="Estimated useful lives">5 years</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Tools and equipment</td><td> </td> <td style="text-align: center">3 years</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Furniture, fixtures and fittings</td><td> </td> <td style="text-align: center"><span id="xdx_90C_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zS9wcidrS904" title="Estimated useful lives">8 years</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Office equipment</td><td> </td> <td style="text-align: center"><span id="xdx_907_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember__srt--RangeAxis__srt--MinimumMember_zSL0KuUKHQBi" title="Estimated useful lives">5-<span id="xdx_909_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember__srt--RangeAxis__srt--MaximumMember_z7SYa9QkYXcf" title="Estimated useful lives">7 years</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Computer equipment</td><td> </td> <td style="text-align: center">3 years</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Motor vehicles</td><td> </td> <td style="text-align: center">5 years</td></tr> </table> Expenditure for repairs and maintenance is expensed as incurred. When assets have retired or sold, the cost and related accumulated depreciation are removed from the accounts and any resulting gain or loss is recognized in the results of operations. ● Impairment of Long-Lived Assets In accordance with the provisions of ASC Topic 360, Impairment or Disposal of Long-Lived Assets, all long-lived assets such as property and equipment owned and held by the Company are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is evaluated by a comparison of the carrying amount of an asset to its estimated future undiscounted cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amounts of the assets exceed the fair value of the assets. <p id="xdx_842_eus-gaap--RevenueFromContractWithCustomerPolicyTextBlock_zXwF1WWAMJf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; background-color: white; color: #212529">● Contract Balances Deferred revenue consists of customer payment in advance of revenue being recognized. The Company invoices its customers at the beginning of the contractual period. Amounts anticipated to be recognized within one (1) year of the balance sheet date are recorded on the consolidated balance sheets as deferred revenue, current. The balance of deferred revenue will fluctuate based on timing of invoices and recognition of revenue. The amount of revenue recognized for the six months ended June 30, 2026 and the financial year ended December 31, 2025 that was included in deferred revenue at the beginning of each period was approximately $10.5 million and $5.7 million, respectively. ● Revenue Recognition The Company receives certain portion of its non-interest income from contracts with customers, which are accounted for in accordance with Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASC 606”). ASC 606-10 provided the following overview of how revenue is recognized from the Company’s contracts with customers: The Company recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. Step 1: Identify the contract(s) with a customer. Step 2: Identify the performance obligations in the contract. Step 3: Determine the transaction price – The transaction price is the amount of consideration in a contract to which an entity expects to be entitled in exchange for transferring promised goods or services to a customer. Step 4: Allocate the transaction price to the performance obligations in the contract – Any entity typically allocates the transaction price to each performance obligation on the basis of the relative standalone selling prices of each distinct good or service promised in the contract. Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation – An entity recognizes revenue when (or as) it satisfies a performance obligation by transferring a promised good or service to a customer (which is when the customer obtains control of that good or service). The amount of revenue recognized is the amount allocated to the satisfied performance obligation. A performance obligation may be satisfied at a point in time (typically for promises to transfer goods to a customer) or over time (typically for promises to transfer service to a customer). The majority of the Company’s income is derived from contracts with customers in the sale of products, and as such, the revenue recognized depicts the transfer of promised goods or services to its customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The Company considers the terms of the contract and all relevant facts and circumstances when applying this guidance. The Company’s revenue recognition policies are in compliance with ASC 606, as follows: Product sales consist of a single performance obligation that the Company satisfies at a point in time. The Company recognizes product revenue when the following events have occurred: (a) the Company has transferred physical possession of the products, depending upon the method of distribution and shipping terms set forth in the customer contract, (b) the Company has a present right to payment, (c) the customer has legal title to the products, and (d) the customer bears significant risks and rewards of ownership of the products. Based on the Company’s historical practices and shipping terms specified in the sales agreements and invoices, these criteria are generally met when the products are: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Invoices; and</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Shipped from the Company’s facilities or warehouse (“Ex-works”, which is the Company’s standard shipping term).</td></tr> </table> For these sales, the Company determines that the customer is able to direct the use of, and obtain substantially all of the benefits from, the products at the time the products are shipped. The Company records its revenues on product sales, net of good & service taxes (“GST”) upon the services are rendered and the title and risk of loss of products are fully transferred to the customers. The Company is subject to GST which is levied on the majority of the products at the rate of 9% on the invoiced value of sales in Singapore. Amounts received as prepayment on future products are recorded as customer deposit and recognized as income when the product is shipped. The Company generally allows a 7-days’ right of return to its customers. For the six months ended June 30, 2026 and 2025, the sales returns allowance was approximately $5,695 and approximately $Nil, respectively. Certain larger customers pay in advance for future shipments. These advance payments totaled approximately $6.1 million and approximately $10.5 million as of June 30, 2026 and December 31, 2025, respectively, and are recorded as customer deposits in the accompanying consolidated balance sheets. Revenue related to these advance payments is recognized upon shipment to the distributor or the end-customer. ● Sales and Marketing Sales and marketing expenses include payroll, employee benefits and other headcount-related expenses associated with sales and marketing personnel, and the costs of advertising, promotions, seminars, and other programs. Advertising costs are expensed as incurred. Advertising expense was approximately $5,457 and approximately $20,520 for the six months ended June 30, 2026 and 2025, respectively. ● Government Grant A government grant or subsidy is not recognized until there is reasonable assurance that: (a) the enterprise will comply with the conditions attached to the grant; and (b) the grant will be received. When the Company receives government grant or subsidies but the conditions attached to the grants have not been fulfilled, such government subsidies are deferred and recorded under other payables and accrued expenses, and other long-term liability. The classification of short-term or long-term liabilities is dependent on the management’s expectation of when the conditions attached to the grant can be fulfilled. ● Comprehensive Income ASC Topic 220, Comprehensive Income, establishes standards for reporting and display of comprehensive income, its components and accumulated balances. Comprehensive income as defined includes all changes in equity during a period from non-owner sources. Accumulated other comprehensive income, as presented in the accompanying statement of shareholder’s equity, consists of changes in unrealized gains and losses on foreign currency translation. This comprehensive income is not included in the computation of income tax expense or benefit. ● Income Taxes Income taxes are determined in accordance with the provisions of ASC Topic 740, Income Taxes (“ASC 740”). Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted income tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Any effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. ASC 740 prescribes a comprehensive model for how companies should recognize, measure, present, and disclose in their financial statements uncertain tax positions taken or expected to be taken on a tax return. Under ASC 740, tax positions must initially be recognized in the financial statements when it is more likely than not the position will be sustained upon examination by the tax authorities. Such tax positions must initially and subsequently be measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the tax authority assuming full knowledge of the position and relevant facts. For the six months ended June 30, 2026 and 2025, the Company did not have any interest and penalties associated with tax positions. As of June 30, 2026 and December 31, 2025, the Company did not have any significant unrecognized uncertain tax positions. The Company is subject to tax in local and foreign jurisdiction. As a result of its business activities, the Company files tax returns that are subject to examination by the relevant tax authorities. ● Leases Effective from January 1, 2019, the Company adopted the guidance of ASC 842, Leases, which requires an entity to recognize a right-of-use asset and a lease liability for virtually all leases. On February 25, 2016, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update No. 2016-02, Leases (Topic 842), to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing transactions. ASC 842 requires that lessees recognize right-of-use assets and lease liabilities calculated based on the present value of lease payments for all lease agreements with terms that are greater than 12 months. It requires for leases longer than one (1) year, a lessee to recognize in the statement of financial condition a right-of-use asset, representing the right to use the underlying asset for the lease term, and a lease liability, representing the liability to make lease payments. ASC 842 distinguishes leases as either a finance lease or an operating lease that affects how the leases are measured and presented in the statement of operations and statement of cash flows. ASC 842 supersedes nearly all existing lease accounting guidance under GAAP issued by the FASB including ASC Topic 840, Leases. ● Retirement Plan Costs Contributions to retirement plans (which are defined contribution plans) are charged to general and administrative expenses in the accompanying statements of operation as the related employee service are provided. The Company is required to make contribution to their employees under a government-mandated multi-employer defined contribution pension scheme for its eligible full-times employees in Singapore and Malaysia. The Company is required to contribute a specified percentage of the participants’ relevant income based on their ages and wages level. During the six months ended June 30, 2026 and 2025, approximately $0.2 million and approximately $0.2 million contributions were made respectively. ● Segment Reporting FASB ASC 280, Segment Reporting, establishes standards for reporting information about operating segments on a basis consistent with the Company’s internal organizational structure as well as information about geographical areas, business segments and major customers in financial statements for details on the Company’s business segments. For the six month ended June 30, 2026 and 2025, the Company has three (3) reporting business segments. INNEOVA’s Chief Executive Officer is the Chief Operating Decision Maker (“CODM”) of the Company. The CODM uses segment operating income for each segment as the measure of segment performance to allocate resources to each segment and to compare the operating performance of the Company’s assets with those of its competitors as a way to assess performance. ● Related Parties The Company follows the ASC 850-10, Related Party for the identification of related parties and disclosure of related party transactions. Pursuant to section 850-10-20 the related parties include: (a) affiliates of the Company; (b) entities for which investments in their equity securities would be required, absent the election of the fair value option under the Fair Value Option Subsection of section 825-10-15, to be accounted for by the equity method by the investing entity; (c) trusts for the benefit of employees, such as pension and Income-sharing trusts that are managed by or under the trusteeship of management; (d) principal owners of the Company; (e) management of the Company; (f) other parties with which the Company may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests; and (g) other parties that can significantly influence the management or operating policies of the transacting parties or that have an ownership interest in one of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be prevented from fully pursuing its own separate interests. The financial statements shall include disclosures of material related party transactions, other than compensation arrangements, expense allowances, and other similar items in the ordinary course of business. However, disclosure of transactions that are eliminated in the preparation of consolidated or combined financial statements is not required in those statements. The disclosures shall include: (a) the nature of the relationship(s) involved; (b) a description of the transactions, including transactions to which no amounts or nominal amounts were ascribed, for each of the periods for which income statements are presented, and such other information deemed necessary to an understanding of the effects of the transactions on the financial statements; (c) the dollar amounts of transactions for each of the periods for which income statements are presented and the effects of any change in the method of establishing the terms from that used in the preceding period; and (d) amount due from or to related parties as of the date of each balance sheet presented and, if not otherwise apparent, the terms and manner of settlement. ● Commitments and Contingencies The Company follows the ASC 450-20, Commitments to report accounting for contingencies. Certain conditions may exist as of the date the financial statements are issued, which may result in a loss to the Company but which will only be resolved when one or more future events occur or fail to occur. The Company assesses such contingent liabilities, and such assessment inherently involves an exercise of judgment. In assessing loss contingencies related to legal proceedings that are pending against the Company or un-asserted claims that may result in such proceedings, the Company evaluates the perceived merits of any legal proceedings or un-asserted claims as well as the perceived merits of the amount of relief sought or expected to be sought therein. If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Company’s financial statements. If the assessment indicates that a potentially material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, and an estimate of the range of possible losses, if determinable and material, would be disclosed. Loss contingencies considered remote are generally not disclosed unless they involve guarantees, in which case the guarantees would be disclosed. Management does not believe, based upon information available at this time that these matters will have a material adverse effect on the Company’s financial position, results of operations or cash flows. However, there is no assurance that such matters will not materially and adversely affect the Company’s business, financial position, and results of operations or cash flows. ● Concentration of Credit Risk Financial instruments that potentially subject the Company to credit risk consist of cash and cash equivalents, restricted cash, accounts receivable. Cash and cash equivalents are maintained with high credit quality institutions, the composition and maturities of which are regularly monitored by management. From April 1, 2024 onwards, the Singapore Deposit Protection Board pays compensation up to a limit of S$100,000 (approximately $74,360) if the bank with which an individual/a company hold its eligible deposit fails. As of June 30, 2026, cash balance of approximately $0.6 million and restricted cash of approximately $0.3 million were maintained at financial institutions in Singapore and Malaysia, of which approximately $0.8 million was subject to credit risk. While management believes that these financial institutions are of high credit quality, it also continually monitors their credit worthiness. For accounts receivable, the Company determines, on a continuing basis, the allowance for doubtful accounts are based on the estimated realizable value. The Company identifies credit risk on a customer-by-customer basis. The information is monitored regularly by management. Concentration of credit risk arises when a group of customers having similar characteristics such that their ability to meet their obligations is expected to be affected similarly by changes in economic conditions. ● Fair Value Measurement The Company follows the guidance of the ASC Topic 820-10, Fair Value Measurements and Disclosure (“ASC 820-10”), with respect to financial assets and liabilities that are measured at fair value. ASC 820-10 establishes a three-tier fair value hierarchy that prioritizes the inputs used in measuring fair value as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 1 : Inputs are based upon unadjusted quoted prices for identical instruments traded in active markets;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 2 : Inputs are based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques (e.g. Black-Scholes Option-Pricing model) for which all significant inputs are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Where applicable, these models project future cash flows and discount the future amounts to a present value using market-based observable inputs; and</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 3 : Inputs are generally unobservable and typically reflect management’s estimates of assumptions that market participants would use in pricing the asset or liability. The fair values are therefore determined using model-based techniques, including option pricing models and discounted cash flow models.</td></tr> </table> The carrying value of the Company’s financial instruments: cash and cash equivalents, restricted cash, accounts receivable, loans receivable, amount due to a related party, accounts payable, escrow liabilities, income tax payable, amount due to a related party, other payables and accrued liabilities approximate at their fair values because of the short-term nature of these financial instruments. Management believes, based on the current market prices or interest rates for similar debt instruments, the fair value of note payable approximate the carrying amount. The Company accounts for loans receivable at cost, subject to impairment testing. The Company obtains a third-party valuation based upon loan level data including note rate, type and term of the underlying loans. The Company’s non-marketable equity securities are investments in privately held companies, which are without readily determinable market values and are classified as Level 3, due to the absence of quoted market prices, the inherent lack of liquidity and the fact that inputs used to measure fair value are unobservable and require management’s judgment. Fair value estimates are made at a specific point in time based on relevant market information about the financial instrument. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and, therefore, cannot be determined with precision. Changes in assumptions could significantly affect the estimates. ● Recently Issued Accounting Pronouncements The Company is an “emerging growth company” (the “EGC”) as defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). Under the JOBS Act, the EGC can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act until such time as those standards apply to private companies. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”). The amendments in the ASU are intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss. In addition, the amendments enhance interim disclosure requirements, clarify circumstances in which an entity can disclose multiple segment measures of profit or loss, provide new segment disclosure requirements for entities with a single reportable segment, and contain other disclosure requirements. The purpose of the amendments is to enable “investors to better understand an entity’s overall performance” and assess “potential future cash flows.” The amendments in ASU 2023-07 are effective for all public entities for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The adoption did not have material impact on the Company’s consolidated financial statement presentations and disclosures. In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures (Topic 740). The ASU requires specific disaggregated information about a reporting entity’s effective tax rate reconciliation as well as additional information on income taxes paid. The ASU is effective on a prospective basis for annual periods beginning after December 15, 2024. Early adoption is also permitted for annual financial statements that have not yet been issued or made available for issuance. The adoption did not have material impact on the Company’s consolidated financial statement presentations and disclosures. In November 2024, the FASB issued ASU No. 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (“ASU 2024-03”), and in January 2025, the FASB issued ASU No. 2025-01, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date (“ASU 2025-01”). ASU 2024-03 requires additional disclosure of the nature of expenses included in the income statement as well as disclosures about specific types of expenses included in the expense captions presented in the income statement. ASU 2024-03, as clarified by ASU 2025-01, is effective for annual periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027, with early adoption permitted. This guidance will be applied either prospectively or retrospectively. The Company is currently evaluating the impact that the adoption of these standards will have on the Company’s consolidated financial statements and disclosures. In July 2025, the FASB issued ASU 2025-05, “Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets”. ASU 2025-05 provides a practical expedient related to the estimation of expected credit losses for current accounts receivable and current contract assets. ASU 2025-05 is effective for annual reporting periods beginning after December 15, 2025 and interim reporting periods within those annual reporting periods and should be applied prospectively. Early adoption is permitted, and the Company is currently assessing the impact of adoption. In September 2025, the FASB issued ASU 2025-06, “Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software”, which provides guidance to clarify and modernize the accounting for costs related to internal-use software. ASU2025-06 is effective for annual reporting periods beginning after December 15, 2027, including interim reporting periods within those annual reporting periods. Early adoption is permitted, and the Company is currently assessing the impact of adoption. Other accounting standards that have been issued by the FASB that do not require adoption until a future date are not expected to have a material impact on the consolidated financial statements upon adoption. The Company does not discuss recent standards that are not anticipated to have an impact on or are unrelated to its consolidated financial condition, results of operations, cash flows or disclosures.

● Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”).

● Use of Estimates and Assumptions The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of revenues and expenses during the financial years presented. Significant accounting estimates in the period include the allowance for doubtful accounts on accounts and other receivables, impairment loss on inventories, assumptions used in assessing right of use assets and impairment of long-lived assets, and deferred tax valuation allowance.

● Basis of Consolidation The consolidated financial statements include the financial statements of the Company and its subsidiaries. All significant inter-company balances and transactions within the Company have been eliminated upon consolidation.

● Non-Controlling Interest The Company reports non-controlling interest in its majority owned subsidiaries in the consolidated balance sheets within the shareholders’ equity section, separately from the Company’s shareholders’ equity. Non-controlling interest represents non-controlling interest holders’ proportionate share of the equity of the Company’s majority-owned subsidiaries. Non-controlling interest is adjusted for non-controlling interest holders’ proportionate share of the earnings or losses and other comprehensive income.

● Foreign Currency Translation and Transaction Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded in the statement of operations. The reporting currency of the Company is United States Dollar (“US$”) and the accompanying consolidated financial statements have been expressed in US$. In addition, the Company and subsidiaries are operating in Singapore and Malaysia, maintain their books and record in their local currency, Singapore Dollars (“SGD”) and Malaysian Ringgit (“MYR”), respectively, which is a functional currency as being the primary currency of the economic environment in which their operations are conducted. In general, for consolidation purposes, assets and liabilities of its subsidiaries whose functional currency is not US$ are translated into US$, in accordance with ASC Topic 830-30, Translation of Financial Statement, using the exchange rate on the balance sheet date. Revenues and expenses are translated at average rates prevailing during the year. The gains and losses resulting from translation of financial statements of foreign subsidiaries are recorded as a separate component of accumulated other comprehensive income within the statements of changes in shareholders’ equity. Translation of amounts from SGD into US$ has been made at the following exchange rates for the six months ended June 30, 2025 and 2024: SCHEDULE OF FOREIGN CURRENCY TRANSLATION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20260630_znyUOaEqLHgd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20250630_z9qJLSBxHzDd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td></tr> <tr id="xdx_40D_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_pid_dp_uPure_hus-gaap--TradingActivityByTypeAxis__custom--YearEndSGDUSDollarExchangeRateMember_zZIN1SO8sdxf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Year-end SGD:US$ exchange rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">1.2763</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">1.2755</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_pid_dp_uPure_hus-gaap--TradingActivityByTypeAxis__custom--AnnualAverageSGDUSDollarExchangeRateMember_zMKakkBr76i4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Annual average SGD:US$ exchange rate</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1.2932</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1.3312</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Translation of amounts from MYR into US$ has been made at the following exchange rates for the six months ended June 30, 2025 and 2024: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20260630_zrJjKIFJxOTi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20250630_z9AkyRL6UnJh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td></tr> <tr id="xdx_408_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_pid_dp_uPure_hus-gaap--TradingActivityByTypeAxis__custom--YearEndMYRUSDollorExchangeRateMember_z9BdZ08Xfyzg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Year-end MYR:US$ exchange rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">0.3176</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">0.3015</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_pid_dp_uPure_hus-gaap--TradingActivityByTypeAxis__custom--AnnualAverageMYRUSDollorExchangeRateMember_zcCadndQO9Gl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Annual average MYR:US$ exchange rate</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">0.3213</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">0.3035</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_pid_dp_uPure_hus-gaap--TradingActivityByTypeAxis__custom--AnnualAverageMYRUSDollorExchangeRateMember_zQaDt8340Nfl" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Exchange rate</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">0.3213</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">0.3035</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Translation gains and losses that arise from exchange rate fluctuations from transactions denominated in a currency other than the functional currency are translated, as the case may be, at the rate on the date of the transaction and included in the results of operations as incurred.

Translation of amounts from SGD into US$ has been made at the following exchange rates for the six months ended June 30, 2025 and 2024: SCHEDULE OF FOREIGN CURRENCY TRANSLATION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20260630_znyUOaEqLHgd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20250630_z9qJLSBxHzDd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td></tr> <tr id="xdx_40D_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_pid_dp_uPure_hus-gaap--TradingActivityByTypeAxis__custom--YearEndSGDUSDollarExchangeRateMember_zZIN1SO8sdxf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Year-end SGD:US$ exchange rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">1.2763</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">1.2755</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_pid_dp_uPure_hus-gaap--TradingActivityByTypeAxis__custom--AnnualAverageSGDUSDollarExchangeRateMember_zMKakkBr76i4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Annual average SGD:US$ exchange rate</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1.2932</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1.3312</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Translation of amounts from MYR into US$ has been made at the following exchange rates for the six months ended June 30, 2025 and 2024: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20260630_zrJjKIFJxOTi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20250630_z9AkyRL6UnJh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">June 30, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td></tr> <tr id="xdx_408_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_pid_dp_uPure_hus-gaap--TradingActivityByTypeAxis__custom--YearEndMYRUSDollorExchangeRateMember_z9BdZ08Xfyzg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Year-end MYR:US$ exchange rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">0.3176</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">0.3015</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_pid_dp_uPure_hus-gaap--TradingActivityByTypeAxis__custom--AnnualAverageMYRUSDollorExchangeRateMember_zcCadndQO9Gl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Annual average MYR:US$ exchange rate</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">0.3213</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">0.3035</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--ForeignCurrencyExchangeRateTranslation1_iI_pid_dp_uPure_hus-gaap--TradingActivityByTypeAxis__custom--AnnualAverageMYRUSDollorExchangeRateMember_zQaDt8340Nfl" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Exchange rate</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">0.3213</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">0.3035</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

0.012763

0.012755

0.012932

0.013312

0.003176

0.003015

0.003213

0.003035

0.003213

0.003035

● Cash and Cash Equivalents Cash and cash equivalents consist primarily of cash in readily available checking and saving accounts. Cash equivalents consist of highly liquid investments that are readily convertible to cash and that mature within three months or less from the date of purchase. The carrying amounts approximate fair value due to the short maturities of these instruments. The Company maintains most of its bank accounts in Singapore and Malaysia.

● Restricted Cash Restricted cash held by foreign subsidiaries related to fixed deposits within or more than twelve months that also serve as security and guarantees under the banking facilities.

● Accounts Receivable, net Accounts receivable include trade accounts due from customers in the sale of products. Accounts receivable are recorded at the invoiced amount and do not bear interest, which are due within contractual payment terms. The normal settlement terms of accounts receivable from insurance companies in the provision of brokerage agency services are within 30 days upon the execution of the insurance policies. The Company seeks to maintain strict control over its outstanding receivables to minimize credit risk. Overdue balances are reviewed regularly by senior management. Management reviews its receivables on a regular basis to determine if the bad debt allowance is adequate and provides allowance when necessary. The allowance is based on management’s best estimates of specific losses on individual customer exposures, as well as the historical trends of collections. Account balances are charged off against the allowance after all means of collection have been exhausted and the likelihood of collection is not probable. The Company’s management continues to evaluate the reasonableness of the valuation allowance policy and update it if necessary. The Company adopted ASU 2016-13, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASC 326”). ASC 326 requires the application of a credit loss model based prospectively on current expected credit losses (CECL), and replaces the previous model based retrospectively on past incurred losses. The Company adopted ASC 326 using the modified retrospective method for all financial assets measured at amortized cost. The Company carries accounts receivable at the face amounts less a reserve for estimated credit losses. As of June 30, 2026 and December 31, 2025, allowance for credit loss was approximately $2.6 million and approximately $2.6 million, respectively. The Company does not hold any collateral or other credit enhancements overs its accounts receivable balances.

2600000

● Inventories Inventories are valued at the lower of cost or net realizable value. Cost is determined by the average cost method. The Company records adjustments to its inventory for estimated obsolescence or diminution in net realizable value equal to the difference between the cost of the inventory and the estimated net realizable value. At the point of loss recognition, a new cost basis for that inventory is established, and subsequent changes in facts and circumstances do not result in the restoration or increase in that newly established cost basis.

● Property and Equipment, net Property and equipment are stated at cost less accumulated depreciation and accumulated impairment losses, if any. Depreciation is calculated on the straight-line basis over the following expected useful lives from the date on which they become fully operational and after taking into account their estimated residual values: SCHEDULE OF PLANT AND EQUIPMENT ESTIMATED USEFUL LIVES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: justify; padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Expected useful life</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: justify">Leasehold building</td><td style="width: 2%"> </td> <td style="width: 18%; text-align: center"><span id="xdx_904_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--BuildingImprovementsMember_zNuMnsdJzLpk" title="Estimated useful lives">3 years</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Leasehold improvement</td><td> </td> <td style="text-align: center"><span id="xdx_903_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember__srt--RangeAxis__srt--MinimumMember_zO19ig5KMOK8" title="Estimated useful lives">3-<span id="xdx_906_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember__srt--RangeAxis__srt--MaximumMember_zp5YcsyxPgC6" title="Estimated useful lives">5 years</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Tools and equipment</td><td> </td> <td style="text-align: center">3 years</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Furniture, fixtures and fittings</td><td> </td> <td style="text-align: center"><span id="xdx_90C_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zS9wcidrS904" title="Estimated useful lives">8 years</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Office equipment</td><td> </td> <td style="text-align: center"><span id="xdx_907_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember__srt--RangeAxis__srt--MinimumMember_zSL0KuUKHQBi" title="Estimated useful lives">5-<span id="xdx_909_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember__srt--RangeAxis__srt--MaximumMember_z7SYa9QkYXcf" title="Estimated useful lives">7 years</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Computer equipment</td><td> </td> <td style="text-align: center">3 years</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Motor vehicles</td><td> </td> <td style="text-align: center">5 years</td></tr> </table> Expenditure for repairs and maintenance is expensed as incurred. When assets have retired or sold, the cost and related accumulated depreciation are removed from the accounts and any resulting gain or loss is recognized in the results of operations.

Property and equipment are stated at cost less accumulated depreciation and accumulated impairment losses, if any. Depreciation is calculated on the straight-line basis over the following expected useful lives from the date on which they become fully operational and after taking into account their estimated residual values: SCHEDULE OF PLANT AND EQUIPMENT ESTIMATED USEFUL LIVES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: justify; padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Expected useful life</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: justify">Leasehold building</td><td style="width: 2%"> </td> <td style="width: 18%; text-align: center"><span id="xdx_904_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--BuildingImprovementsMember_zNuMnsdJzLpk" title="Estimated useful lives">3 years</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Leasehold improvement</td><td> </td> <td style="text-align: center"><span id="xdx_903_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember__srt--RangeAxis__srt--MinimumMember_zO19ig5KMOK8" title="Estimated useful lives">3-<span id="xdx_906_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember__srt--RangeAxis__srt--MaximumMember_zp5YcsyxPgC6" title="Estimated useful lives">5 years</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Tools and equipment</td><td> </td> <td style="text-align: center">3 years</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Furniture, fixtures and fittings</td><td> </td> <td style="text-align: center"><span id="xdx_90C_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zS9wcidrS904" title="Estimated useful lives">8 years</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Office equipment</td><td> </td> <td style="text-align: center"><span id="xdx_907_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember__srt--RangeAxis__srt--MinimumMember_zSL0KuUKHQBi" title="Estimated useful lives">5-<span id="xdx_909_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260630__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember__srt--RangeAxis__srt--MaximumMember_z7SYa9QkYXcf" title="Estimated useful lives">7 years</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Computer equipment</td><td> </td> <td style="text-align: center">3 years</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Motor vehicles</td><td> </td> <td style="text-align: center">5 years</td></tr> </table>

P3Y

P5Y

P3Y

P8Y

P5Y

P7Y

P3Y

P5Y

● Impairment of Long-Lived Assets In accordance with the provisions of ASC Topic 360, Impairment or Disposal of Long-Lived Assets, all long-lived assets such as property and equipment owned and held by the Company are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is evaluated by a comparison of the carrying amount of an asset to its estimated future undiscounted cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amounts of the assets exceed the fair value of the assets.

<p id="xdx_842_eus-gaap--RevenueFromContractWithCustomerPolicyTextBlock_zXwF1WWAMJf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; background-color: white; color: #212529">● Contract Balances Deferred revenue consists of customer payment in advance of revenue being recognized. The Company invoices its customers at the beginning of the contractual period. Amounts anticipated to be recognized within one (1) year of the balance sheet date are recorded on the consolidated balance sheets as deferred revenue, current. The balance of deferred revenue will fluctuate based on timing of invoices and recognition of revenue. The amount of revenue recognized for the six months ended June 30, 2026 and the financial year ended December 31, 2025 that was included in deferred revenue at the beginning of each period was approximately $10.5 million and $5.7 million, respectively.

10500000

5700000

● Revenue Recognition The Company receives certain portion of its non-interest income from contracts with customers, which are accounted for in accordance with Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASC 606”). ASC 606-10 provided the following overview of how revenue is recognized from the Company’s contracts with customers: The Company recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. Step 1: Identify the contract(s) with a customer. Step 2: Identify the performance obligations in the contract. Step 3: Determine the transaction price – The transaction price is the amount of consideration in a contract to which an entity expects to be entitled in exchange for transferring promised goods or services to a customer. Step 4: Allocate the transaction price to the performance obligations in the contract – Any entity typically allocates the transaction price to each performance obligation on the basis of the relative standalone selling prices of each distinct good or service promised in the contract. Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation – An entity recognizes revenue when (or as) it satisfies a performance obligation by transferring a promised good or service to a customer (which is when the customer obtains control of that good or service). The amount of revenue recognized is the amount allocated to the satisfied performance obligation. A performance obligation may be satisfied at a point in time (typically for promises to transfer goods to a customer) or over time (typically for promises to transfer service to a customer). The majority of the Company’s income is derived from contracts with customers in the sale of products, and as such, the revenue recognized depicts the transfer of promised goods or services to its customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The Company considers the terms of the contract and all relevant facts and circumstances when applying this guidance. The Company’s revenue recognition policies are in compliance with ASC 606, as follows: Product sales consist of a single performance obligation that the Company satisfies at a point in time. The Company recognizes product revenue when the following events have occurred: (a) the Company has transferred physical possession of the products, depending upon the method of distribution and shipping terms set forth in the customer contract, (b) the Company has a present right to payment, (c) the customer has legal title to the products, and (d) the customer bears significant risks and rewards of ownership of the products. Based on the Company’s historical practices and shipping terms specified in the sales agreements and invoices, these criteria are generally met when the products are: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Invoices; and</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Shipped from the Company’s facilities or warehouse (“Ex-works”, which is the Company’s standard shipping term).</td></tr> </table> For these sales, the Company determines that the customer is able to direct the use of, and obtain substantially all of the benefits from, the products at the time the products are shipped. The Company records its revenues on product sales, net of good & service taxes (“GST”) upon the services are rendered and the title and risk of loss of products are fully transferred to the customers. The Company is subject to GST which is levied on the majority of the products at the rate of 9% on the invoiced value of sales in Singapore. Amounts received as prepayment on future products are recorded as customer deposit and recognized as income when the product is shipped. The Company generally allows a 7-days’ right of return to its customers. For the six months ended June 30, 2026 and 2025, the sales returns allowance was approximately $5,695 and approximately $Nil, respectively. Certain larger customers pay in advance for future shipments. These advance payments totaled approximately $6.1 million and approximately $10.5 million as of June 30, 2026 and December 31, 2025, respectively, and are recorded as customer deposits in the accompanying consolidated balance sheets. Revenue related to these advance payments is recognized upon shipment to the distributor or the end-customer.

5695

6100000

10500000

● Sales and Marketing Sales and marketing expenses include payroll, employee benefits and other headcount-related expenses associated with sales and marketing personnel, and the costs of advertising, promotions, seminars, and other programs. Advertising costs are expensed as incurred. Advertising expense was approximately $5,457 and approximately $20,520 for the six months ended June 30, 2026 and 2025, respectively.

5457

20520

● Government Grant A government grant or subsidy is not recognized until there is reasonable assurance that: (a) the enterprise will comply with the conditions attached to the grant; and (b) the grant will be received. When the Company receives government grant or subsidies but the conditions attached to the grants have not been fulfilled, such government subsidies are deferred and recorded under other payables and accrued expenses, and other long-term liability. The classification of short-term or long-term liabilities is dependent on the management’s expectation of when the conditions attached to the grant can be fulfilled.

● Comprehensive Income ASC Topic 220, Comprehensive Income, establishes standards for reporting and display of comprehensive income, its components and accumulated balances. Comprehensive income as defined includes all changes in equity during a period from non-owner sources. Accumulated other comprehensive income, as presented in the accompanying statement of shareholder’s equity, consists of changes in unrealized gains and losses on foreign currency translation. This comprehensive income is not included in the computation of income tax expense or benefit.

● Income Taxes Income taxes are determined in accordance with the provisions of ASC Topic 740, Income Taxes (“ASC 740”). Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted income tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Any effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. ASC 740 prescribes a comprehensive model for how companies should recognize, measure, present, and disclose in their financial statements uncertain tax positions taken or expected to be taken on a tax return. Under ASC 740, tax positions must initially be recognized in the financial statements when it is more likely than not the position will be sustained upon examination by the tax authorities. Such tax positions must initially and subsequently be measured as the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the tax authority assuming full knowledge of the position and relevant facts. For the six months ended June 30, 2026 and 2025, the Company did not have any interest and penalties associated with tax positions. As of June 30, 2026 and December 31, 2025, the Company did not have any significant unrecognized uncertain tax positions. The Company is subject to tax in local and foreign jurisdiction. As a result of its business activities, the Company files tax returns that are subject to examination by the relevant tax authorities.

greater than 50% likelihood

● Leases Effective from January 1, 2019, the Company adopted the guidance of ASC 842, Leases, which requires an entity to recognize a right-of-use asset and a lease liability for virtually all leases. On February 25, 2016, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update No. 2016-02, Leases (Topic 842), to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing transactions. ASC 842 requires that lessees recognize right-of-use assets and lease liabilities calculated based on the present value of lease payments for all lease agreements with terms that are greater than 12 months. It requires for leases longer than one (1) year, a lessee to recognize in the statement of financial condition a right-of-use asset, representing the right to use the underlying asset for the lease term, and a lease liability, representing the liability to make lease payments. ASC 842 distinguishes leases as either a finance lease or an operating lease that affects how the leases are measured and presented in the statement of operations and statement of cash flows. ASC 842 supersedes nearly all existing lease accounting guidance under GAAP issued by the FASB including ASC Topic 840, Leases.

● Retirement Plan Costs Contributions to retirement plans (which are defined contribution plans) are charged to general and administrative expenses in the accompanying statements of operation as the related employee service are provided. The Company is required to make contribution to their employees under a government-mandated multi-employer defined contribution pension scheme for its eligible full-times employees in Singapore and Malaysia. The Company is required to contribute a specified percentage of the participants’ relevant income based on their ages and wages level. During the six months ended June 30, 2026 and 2025, approximately $0.2 million and approximately $0.2 million contributions were made respectively.

200000

● Segment Reporting FASB ASC 280, Segment Reporting, establishes standards for reporting information about operating segments on a basis consistent with the Company’s internal organizational structure as well as information about geographical areas, business segments and major customers in financial statements for details on the Company’s business segments. For the six month ended June 30, 2026 and 2025, the Company has three (3) reporting business segments. INNEOVA’s Chief Executive Officer is the Chief Operating Decision Maker (“CODM”) of the Company. The CODM uses segment operating income for each segment as the measure of segment performance to allocate resources to each segment and to compare the operating performance of the Company’s assets with those of its competitors as a way to assess performance.

● Related Parties The Company follows the ASC 850-10, Related Party for the identification of related parties and disclosure of related party transactions. Pursuant to section 850-10-20 the related parties include: (a) affiliates of the Company; (b) entities for which investments in their equity securities would be required, absent the election of the fair value option under the Fair Value Option Subsection of section 825-10-15, to be accounted for by the equity method by the investing entity; (c) trusts for the benefit of employees, such as pension and Income-sharing trusts that are managed by or under the trusteeship of management; (d) principal owners of the Company; (e) management of the Company; (f) other parties with which the Company may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests; and (g) other parties that can significantly influence the management or operating policies of the transacting parties or that have an ownership interest in one of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be prevented from fully pursuing its own separate interests. The financial statements shall include disclosures of material related party transactions, other than compensation arrangements, expense allowances, and other similar items in the ordinary course of business. However, disclosure of transactions that are eliminated in the preparation of consolidated or combined financial statements is not required in those statements. The disclosures shall include: (a) the nature of the relationship(s) involved; (b) a description of the transactions, including transactions to which no amounts or nominal amounts were ascribed, for each of the periods for which income statements are presented, and such other information deemed necessary to an understanding of the effects of the transactions on the financial statements; (c) the dollar amounts of transactions for each of the periods for which income statements are presented and the effects of any change in the method of establishing the terms from that used in the preceding period; and (d) amount due from or to related parties as of the date of each balance sheet presented and, if not otherwise apparent, the terms and manner of settlement.

● Commitments and Contingencies The Company follows the ASC 450-20, Commitments to report accounting for contingencies. Certain conditions may exist as of the date the financial statements are issued, which may result in a loss to the Company but which will only be resolved when one or more future events occur or fail to occur. The Company assesses such contingent liabilities, and such assessment inherently involves an exercise of judgment. In assessing loss contingencies related to legal proceedings that are pending against the Company or un-asserted claims that may result in such proceedings, the Company evaluates the perceived merits of any legal proceedings or un-asserted claims as well as the perceived merits of the amount of relief sought or expected to be sought therein. If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Company’s financial statements. If the assessment indicates that a potentially material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, and an estimate of the range of possible losses, if determinable and material, would be disclosed. Loss contingencies considered remote are generally not disclosed unless they involve guarantees, in which case the guarantees would be disclosed. Management does not believe, based upon information available at this time that these matters will have a material adverse effect on the Company’s financial position, results of operations or cash flows. However, there is no assurance that such matters will not materially and adversely affect the Company’s business, financial position, and results of operations or cash flows.

● Concentration of Credit Risk Financial instruments that potentially subject the Company to credit risk consist of cash and cash equivalents, restricted cash, accounts receivable. Cash and cash equivalents are maintained with high credit quality institutions, the composition and maturities of which are regularly monitored by management. From April 1, 2024 onwards, the Singapore Deposit Protection Board pays compensation up to a limit of S$100,000 (approximately $74,360) if the bank with which an individual/a company hold its eligible deposit fails. As of June 30, 2026, cash balance of approximately $0.6 million and restricted cash of approximately $0.3 million were maintained at financial institutions in Singapore and Malaysia, of which approximately $0.8 million was subject to credit risk. While management believes that these financial institutions are of high credit quality, it also continually monitors their credit worthiness. For accounts receivable, the Company determines, on a continuing basis, the allowance for doubtful accounts are based on the estimated realizable value. The Company identifies credit risk on a customer-by-customer basis. The information is monitored regularly by management. Concentration of credit risk arises when a group of customers having similar characteristics such that their ability to meet their obligations is expected to be affected similarly by changes in economic conditions.

the Singapore Deposit Protection Board pays compensation up to a limit of S$100,000 (approximately $74,360) if the bank with which an individual/a company hold its eligible deposit fails.

600000

300000

800000

● Fair Value Measurement The Company follows the guidance of the ASC Topic 820-10, Fair Value Measurements and Disclosure (“ASC 820-10”), with respect to financial assets and liabilities that are measured at fair value. ASC 820-10 establishes a three-tier fair value hierarchy that prioritizes the inputs used in measuring fair value as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 1 : Inputs are based upon unadjusted quoted prices for identical instruments traded in active markets;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 2 : Inputs are based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques (e.g. Black-Scholes Option-Pricing model) for which all significant inputs are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Where applicable, these models project future cash flows and discount the future amounts to a present value using market-based observable inputs; and</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">●</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 3 : Inputs are generally unobservable and typically reflect management’s estimates of assumptions that market participants would use in pricing the asset or liability. The fair values are therefore determined using model-based techniques, including option pricing models and discounted cash flow models.</td></tr> </table> The carrying value of the Company’s financial instruments: cash and cash equivalents, restricted cash, accounts receivable, loans receivable, amount due to a related party, accounts payable, escrow liabilities, income tax payable, amount due to a related party, other payables and accrued liabilities approximate at their fair values because of the short-term nature of these financial instruments. Management believes, based on the current market prices or interest rates for similar debt instruments, the fair value of note payable approximate the carrying amount. The Company accounts for loans receivable at cost, subject to impairment testing. The Company obtains a third-party valuation based upon loan level data including note rate, type and term of the underlying loans. The Company’s non-marketable equity securities are investments in privately held companies, which are without readily determinable market values and are classified as Level 3, due to the absence of quoted market prices, the inherent lack of liquidity and the fact that inputs used to measure fair value are unobservable and require management’s judgment. Fair value estimates are made at a specific point in time based on relevant market information about the financial instrument. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and, therefore, cannot be determined with precision. Changes in assumptions could significantly affect the estimates.

● Recently Issued Accounting Pronouncements The Company is an “emerging growth company” (the “EGC”) as defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). Under the JOBS Act, the EGC can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act until such time as those standards apply to private companies. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”). The amendments in the ASU are intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss. In addition, the amendments enhance interim disclosure requirements, clarify circumstances in which an entity can disclose multiple segment measures of profit or loss, provide new segment disclosure requirements for entities with a single reportable segment, and contain other disclosure requirements. The purpose of the amendments is to enable “investors to better understand an entity’s overall performance” and assess “potential future cash flows.” The amendments in ASU 2023-07 are effective for all public entities for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The adoption did not have material impact on the Company’s consolidated financial statement presentations and disclosures. In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures (Topic 740). The ASU requires specific disaggregated information about a reporting entity’s effective tax rate reconciliation as well as additional information on income taxes paid. The ASU is effective on a prospective basis for annual periods beginning after December 15, 2024. Early adoption is also permitted for annual financial statements that have not yet been issued or made available for issuance. The adoption did not have material impact on the Company’s consolidated financial statement presentations and disclosures. In November 2024, the FASB issued ASU No. 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (“ASU 2024-03”), and in January 2025, the FASB issued ASU No. 2025-01, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date (“ASU 2025-01”). ASU 2024-03 requires additional disclosure of the nature of expenses included in the income statement as well as disclosures about specific types of expenses included in the expense captions presented in the income statement. ASU 2024-03, as clarified by ASU 2025-01, is effective for annual periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027, with early adoption permitted. This guidance will be applied either prospectively or retrospectively. The Company is currently evaluating the impact that the adoption of these standards will have on the Company’s consolidated financial statements and disclosures. In July 2025, the FASB issued ASU 2025-05, “Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets”. ASU 2025-05 provides a practical expedient related to the estimation of expected credit losses for current accounts receivable and current contract assets. ASU 2025-05 is effective for annual reporting periods beginning after December 15, 2025 and interim reporting periods within those annual reporting periods and should be applied prospectively. Early adoption is permitted, and the Company is currently assessing the impact of adoption. In September 2025, the FASB issued ASU 2025-06, “Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software”, which provides guidance to clarify and modernize the accounting for costs related to internal-use software. ASU2025-06 is effective for annual reporting periods beginning after December 15, 2027, including interim reporting periods within those annual reporting periods. Early adoption is permitted, and the Company is currently assessing the impact of adoption. Other accounting standards that have been issued by the FASB that do not require adoption until a future date are not expected to have a material impact on the consolidated financial statements upon adoption. The Company does not discuss recent standards that are not anticipated to have an impact on or are unrelated to its consolidated financial condition, results of operations, cash flows or disclosures.

NOTE – 3 BUSINESS SEGMENT AND DISAGGREGATION OF REVENUE The Company has disaggregated its revenue from contracts with customers into categories based on the nature of the revenue in the following table: SCHEDULE OF DISAGGREGATION OF REVENUE BY BUSINESS SEGMENT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20260101__20260630_zcBKsavmsS11" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20250101__20250630_z5bUJ3v6wIX" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six Months ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Sale of products, at a single point in time</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hsrt--ProductOrServiceAxis__custom--SaleOfProductsAtASinglePointInTimeMember__us-gaap--StatementBusinessSegmentsAxis__custom--InneovaAutomotiveMember_zXlXp2xTLWKd" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">INNEOVA Automotive Division</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">8,094</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">12,394</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hsrt--ProductOrServiceAxis__custom--SaleOfProductsAtASinglePointInTimeMember__us-gaap--StatementBusinessSegmentsAxis__custom--InneovaIndustrialMember_ze0x2NstaGP5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">INNEOVA Industrial Division</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16,024</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,446</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hsrt--ProductOrServiceAxis__custom--SaleOfProductsAtASinglePointInTimeMember__us-gaap--StatementBusinessSegmentsAxis__custom--InneovaEngineeringMember_zPlrH2MWKJhj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">INNEOVA Engineering Division</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,677</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,730</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hsrt--ProductOrServiceAxis__custom--SaleOfProductsAtASinglePointInTimeMember_zh3JBrgF1K3c" style="vertical-align: bottom; background-color: White"> <td>Sale of products, at a single point in time</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">25,795</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">30,570</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hsrt--ProductOrServiceAxis__custom--OtherShippingChargesMember_zD22xSPphxw1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Other (shipping charges)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">201</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_zegV3c9ZiMi5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Revenue</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">25,795</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">30,771</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> The following tables present the Company’s revenue disaggregated by business segment and geography, based on management’s assessment of available data: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20260101__20260630_zTvo43OCo0Dc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20250101__20250630_z4jF8SiO43D9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six Months ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Revenue from external customers</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--InneovaAutomotiveMember_zKPl6sHk4QB1" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">INNEOVA Automotive Division</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">8,094</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">12,394</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--InneovaIndustrialMember_zSUSgFU2wFV6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">INNEOVA Industrial Division</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16,024</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,446</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--InneovaEngineeringMember_zBIs9W8ng3i1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">INNEOVA Engineering Division</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,677</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,730</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hsrt--ProductOrServiceAxis__custom--OtherShippingChargesMember_zBbvVwoIs4vb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Other (shipping charges)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">201</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_zYgB8zZ2UK4i" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Revenue from external customers</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">25,795</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">30,771</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Cost of revenue</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--CostOfRevenue_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--InneovaAutomotiveMember_zOZiEy9j2h24" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">INNEOVA Automotive Division</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,770</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,770</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--CostOfRevenue_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--InneovaIndustrialMember_zYFDTxpAuUAc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">INNEOVA Industrial Division</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,910</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12,926</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--CostOfRevenue_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--InneovaEngineeringMember_zJak0ynWlIJ5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">INNEOVA Engineering Division</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,682</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,149</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--CostOfRevenue_pn3n3_zEYCJuUGclah" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Cost of revenue</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">20,362</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">24,845</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--SellingAndMarketingExpenseAbstract_iB_zIr64WvLT60h" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Selling and distribution</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--SellingAndMarketingExpense_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--InneovaAutomotiveMember_zZJEUMgvc8E3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">INNEOVA Automotive Division</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">281</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">301</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--SellingAndMarketingExpense_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--InneovaIndustrialMember_zTt1zVxGAJe8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">INNEOVA Industrial Division</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">320</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">488</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--SellingAndMarketingExpense_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--InneovaEngineeringMember_zXcJzjZOuPY" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-align: left">INNEOVA Engineering Division</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">24</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">42</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--SellingAndMarketingExpense_pn3n3_z5ip3I1AGda" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Selling and distribution</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">625</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">831</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--GeneralAndAdministrativeExpenseAbstract_iB_zOzBjbSYMkm3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left"> General and administrative</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--GeneralAndAdministrativeExpense_pn3n3_hsrt--ProductOrServiceAxis__custom--InneovaAutomotiveMember_zyCUG2eZDt42" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">INNEOVA Automotive Division</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,520</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,722</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--GeneralAndAdministrativeExpense_pn3n3_hsrt--ProductOrServiceAxis__custom--InneovaIndustrialMember_zAGWeyuWiFw6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">INNEOVA Industrial Division</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,215</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,259</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--GeneralAndAdministrativeExpense_pn3n3_hsrt--ProductOrServiceAxis__custom--InneovaEngineeringMember_zibDBz4GGzRl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">INNEOVA Engineering Division</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">682</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">432</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--GeneralAndAdministrativeExpense_pn3n3_hsrt--ProductOrServiceAxis__custom--InneovaCorporateMember_zBby9IhZT903" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">INNEOVA Corporate Division</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">184</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--GeneralAndAdministrativeExpense_i01_pn3n3_zG7ShBAum8la" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">General and administrative</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">3,417</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">3,597</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--DepreciationAndAmortizationAbstract_iB_zYfNVlfcgCSl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Depreciation and amortization</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--DepreciationAndAmortization_pn3n3_hsrt--ProductOrServiceAxis__custom--InneovaAutomotiveMember_ztGCcuSemmhf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">INNEOVA Automotive Division</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">178</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">66</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--DepreciationAndAmortization_pn3n3_hsrt--ProductOrServiceAxis__custom--InneovaIndustrialMember_z3wisLhenln2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">INNEOVA Industrial Division</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">416</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">270</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--DepreciationAndAmortization_pn3n3_hsrt--ProductOrServiceAxis__custom--InneovaEngineeringMember_zWABwasakXf8" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: left">INNEOVA Engineering Division</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">84</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">60</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--DepreciationAndAmortization_i01_pn3n3_z5RCittcoC0c" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Depreciation and amortization</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">678</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">396</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--OperatingIncomeLossAbstract_iB_zDhJtB4Cc991" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Segment operating income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OperatingIncomeLoss_pn3n3_hsrt--ProductOrServiceAxis__custom--InneovaAutomotiveMember_zp2de2tZlg1l" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">INNEOVA Automotive Division</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,655</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">535</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--OperatingIncomeLoss_pn3n3_hsrt--ProductOrServiceAxis__custom--InneovaIndustrialMember_zu73geduTuce" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">INNEOVA Industrial Division</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,162</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">503</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--OperatingIncomeLoss_pn3n3_hsrt--ProductOrServiceAxis__custom--InneovaEngineeringMember_zn4AA4KgPfIe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">INNEOVA Engineering Division</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(795</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">47</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--OperatingIncomeLoss_pn3n3_hsrt--ProductOrServiceAxis__custom--InneovaCorporateMember_zaiKo5cIP8u3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">INNEOVA Corporate Division</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">17</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--OperatingIncomeLoss_i01_pn3n3_zMkU3co2KHba" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Segment operating income </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">712</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,102</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Reconciliation to income before income taxes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--InterestAndDebtExpenseAbstract_iB_z8H63w8hbNWd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Interest expenses, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--InterestExpenseNonoperating_pn3n3_hsrt--ProductOrServiceAxis__custom--InneovaAutomotiveMember_zPrfyn9heQUe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">INNEOVA Automotive Division</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">150</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">172</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--InterestExpenseNonoperating_pn3n3_hsrt--ProductOrServiceAxis__custom--InneovaIndustrialMember_zzv3pImhCBfj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">INNEOVA Industrial Division</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">341</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">456</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--InterestExpenseNonoperating_pn3n3_hsrt--ProductOrServiceAxis__custom--InneovaEngineeringMember_zKuNynAe2XAf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">INNEOVA Engineering Division</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">83</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">75</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--InterestExpenseNonoperating_pn3n3_hsrt--ProductOrServiceAxis__custom--InneovaCorporateMember_zBxEiXhtn8x1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">INNEOVA Corporate Division</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--InterestExpenseNonoperating_i01_ziuveSVUz28d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Interest expenses, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">574</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">705</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Other segment item</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--OtherNonoperatingIncomeExpense_pn3n3_hsrt--ProductOrServiceAxis__custom--InneovaAutomotiveMember_zA8YqiKwwkW6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">INNEOVA Automotive Division</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">262</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">249</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--OtherNonoperatingIncomeExpense_pn3n3_hsrt--ProductOrServiceAxis__custom--InneovaIndustrialMember_zpsjxNbjKiI7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">INNEOVA Industrial Division</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(116</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(126</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--OtherNonoperatingIncomeExpense_pn3n3_hsrt--ProductOrServiceAxis__custom--InneovaEngineeringMember_zGY7P5AcJid7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">INNEOVA Engineering Division</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(9</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(110</td><td style="text-align: left">)</td></tr> <tr id="xdx_409_eus-gaap--OtherNonoperatingIncomeExpense_pn3n3_hsrt--ProductOrServiceAxis__custom--InneovaCorporateMember_z1kNV9XhFIlg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">INNEOVA Corporate Division</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">55</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--OtherNonoperatingIncomeExpense_i01_pn3n3_zfiWBOVVFUW7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Other segment item</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">137</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">68</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterestAbstract_iB_ziBRNYsRCbfd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Income before income taxes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_pn3n3_hsrt--ProductOrServiceAxis__custom--InneovaAutomotiveMember_zvu8Eq2syOW9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">INNEOVA Automotive Division</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,544</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">115</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_pn3n3_hsrt--ProductOrServiceAxis__custom--InneovaIndustrialMember_z9UT0XV1CSJ9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">INNEOVA Industrial Division</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,704</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">172</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_pn3n3_hsrt--ProductOrServiceAxis__custom--InneovaEngineeringMember_zlVIFp0YNSO4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">INNEOVA Engineering Division</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right">(886</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right">82</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_pn3n3_hsrt--ProductOrServiceAxis__custom--InneovaCorporateMember_z4X2P7U2Z3S4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">INNEOVA Corporate Division</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(40</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_i01_pn3n3_z6ptJ5AKND3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Income before income taxes</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">274</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">329</td><td style="padding-bottom: 2.5pt; text-align: left"></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Segment assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">INNEOVA Automotive Division</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--Assets_iI_c20260630__us-gaap--StatementBusinessSegmentsAxis__custom--InneovaAutomotiveMember_zwVeMWh3HkR5" style="text-align: right">13,258</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--Assets_iI_c20250630__us-gaap--StatementBusinessSegmentsAxis__custom--InneovaAutomotiveMember_zzEuPjID6nnj" style="text-align: right">14,513</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">INNEOVA Industrial Division</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--Assets_iI_c20260630__us-gaap--StatementBusinessSegmentsAxis__custom--InneovaIndustrialMember_zMY6r360SVZf" style="text-align: right">27,946</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--Assets_iI_c20250630__us-gaap--StatementBusinessSegmentsAxis__custom--InneovaIndustrialMember_zRmo5OwOnqo" style="text-align: right">25,293</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">INNEOVA Engineering Division</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--Assets_iI_c20260630__us-gaap--StatementBusinessSegmentsAxis__custom--InneovaEngineeringMember_zoYOOaojbXS6" style="border-bottom: Black 1pt solid; text-align: right">6,348</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--Assets_iI_c20250630__us-gaap--StatementBusinessSegmentsAxis__custom--InneovaEngineeringMember_zEjuSpZn2Sih" style="border-bottom: Black 1pt solid; text-align: right">12,778</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Segment assets</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98F_eus-gaap--Assets_iI_c20260630_zYxZpMiUHYPg" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">47,552</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_988_eus-gaap--Assets_iI_c20250630_zRJGWAgXIRY1" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Segment assets">52,584</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> In accordance with ASC 280, Segment Reporting (“ASC 280”), we have two reportable business segments. Sales are based on the countries in which the customer is located. Summarized financial information concerning our geographic segments is shown in the following tables: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20260101__20260630_zqwCxSFkaV4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20250101__20250630_zlT56mmGj9Zf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six Months ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td></tr> <tr id="xdx_403_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hsrt--StatementGeographicalAxis__srt--AsiaPacificMember_zAG9r9dtPqTk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Asia Pacific</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">22,495</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">25,540</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hsrt--StatementGeographicalAxis__custom--MiddleEastEuropeAndAfricaMember_znbHiYsEoUHf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Middle East, Europe and Africa</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">827</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,480</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hsrt--StatementGeographicalAxis__srt--AmericasMember_zF1h3er1KTU2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Americas</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,472</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,751</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_zEKB7EAsXksk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Revenue from external customers</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">25,795</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">30,771</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table>

The Company has disaggregated its revenue from contracts with customers into categories based on the nature of the revenue in the following table: SCHEDULE OF DISAGGREGATION OF REVENUE BY BUSINESS SEGMENT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20260101__20260630_zcBKsavmsS11" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20250101__20250630_z5bUJ3v6wIX" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six Months ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Sale of products, at a single point in time</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hsrt--ProductOrServiceAxis__custom--SaleOfProductsAtASinglePointInTimeMember__us-gaap--StatementBusinessSegmentsAxis__custom--InneovaAutomotiveMember_zXlXp2xTLWKd" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">INNEOVA Automotive Division</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">8,094</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">12,394</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hsrt--ProductOrServiceAxis__custom--SaleOfProductsAtASinglePointInTimeMember__us-gaap--StatementBusinessSegmentsAxis__custom--InneovaIndustrialMember_ze0x2NstaGP5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">INNEOVA Industrial Division</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16,024</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,446</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hsrt--ProductOrServiceAxis__custom--SaleOfProductsAtASinglePointInTimeMember__us-gaap--StatementBusinessSegmentsAxis__custom--InneovaEngineeringMember_zPlrH2MWKJhj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">INNEOVA Engineering Division</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,677</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,730</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hsrt--ProductOrServiceAxis__custom--SaleOfProductsAtASinglePointInTimeMember_zh3JBrgF1K3c" style="vertical-align: bottom; background-color: White"> <td>Sale of products, at a single point in time</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">25,795</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">30,570</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hsrt--ProductOrServiceAxis__custom--OtherShippingChargesMember_zD22xSPphxw1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Other (shipping charges)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">201</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_zegV3c9ZiMi5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Revenue</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">25,795</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">30,771</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> The following tables present the Company’s revenue disaggregated by business segment and geography, based on management’s assessment of available data: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20260101__20260630_zTvo43OCo0Dc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20250101__20250630_z4jF8SiO43D9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six Months ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Revenue from external customers</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--InneovaAutomotiveMember_zKPl6sHk4QB1" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">INNEOVA Automotive Division</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">8,094</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">12,394</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--InneovaIndustrialMember_zSUSgFU2wFV6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">INNEOVA Industrial Division</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16,024</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,446</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--InneovaEngineeringMember_zBIs9W8ng3i1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">INNEOVA Engineering Division</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,677</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,730</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hsrt--ProductOrServiceAxis__custom--OtherShippingChargesMember_zBbvVwoIs4vb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Other (shipping charges)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">201</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_zYgB8zZ2UK4i" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Revenue from external customers</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">25,795</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">30,771</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Cost of revenue</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--CostOfRevenue_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--InneovaAutomotiveMember_zOZiEy9j2h24" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">INNEOVA Automotive Division</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,770</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,770</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--CostOfRevenue_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--InneovaIndustrialMember_zYFDTxpAuUAc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">INNEOVA Industrial Division</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,910</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12,926</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--CostOfRevenue_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--InneovaEngineeringMember_zJak0ynWlIJ5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">INNEOVA Engineering Division</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,682</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,149</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--CostOfRevenue_pn3n3_zEYCJuUGclah" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Cost of revenue</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">20,362</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">24,845</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--SellingAndMarketingExpenseAbstract_iB_zIr64WvLT60h" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Selling and distribution</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--SellingAndMarketingExpense_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--InneovaAutomotiveMember_zZJEUMgvc8E3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">INNEOVA Automotive Division</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">281</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">301</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--SellingAndMarketingExpense_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--InneovaIndustrialMember_zTt1zVxGAJe8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">INNEOVA Industrial Division</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">320</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">488</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--SellingAndMarketingExpense_pn3n3_hus-gaap--StatementBusinessSegmentsAxis__custom--InneovaEngineeringMember_zXcJzjZOuPY" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-align: left">INNEOVA Engineering Division</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">24</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">42</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--SellingAndMarketingExpense_pn3n3_z5ip3I1AGda" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Selling and distribution</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">625</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">831</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--GeneralAndAdministrativeExpenseAbstract_iB_zOzBjbSYMkm3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left"> General and administrative</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--GeneralAndAdministrativeExpense_pn3n3_hsrt--ProductOrServiceAxis__custom--InneovaAutomotiveMember_zyCUG2eZDt42" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">INNEOVA Automotive Division</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,520</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,722</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--GeneralAndAdministrativeExpense_pn3n3_hsrt--ProductOrServiceAxis__custom--InneovaIndustrialMember_zAGWeyuWiFw6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">INNEOVA Industrial Division</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,215</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,259</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--GeneralAndAdministrativeExpense_pn3n3_hsrt--ProductOrServiceAxis__custom--InneovaEngineeringMember_zibDBz4GGzRl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">INNEOVA Engineering Division</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">682</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">432</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--GeneralAndAdministrativeExpense_pn3n3_hsrt--ProductOrServiceAxis__custom--InneovaCorporateMember_zBby9IhZT903" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">INNEOVA Corporate Division</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">184</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--GeneralAndAdministrativeExpense_i01_pn3n3_zG7ShBAum8la" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">General and administrative</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">3,417</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">3,597</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--DepreciationAndAmortizationAbstract_iB_zYfNVlfcgCSl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Depreciation and amortization</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--DepreciationAndAmortization_pn3n3_hsrt--ProductOrServiceAxis__custom--InneovaAutomotiveMember_ztGCcuSemmhf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">INNEOVA Automotive Division</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">178</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">66</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--DepreciationAndAmortization_pn3n3_hsrt--ProductOrServiceAxis__custom--InneovaIndustrialMember_z3wisLhenln2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">INNEOVA Industrial Division</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">416</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">270</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--DepreciationAndAmortization_pn3n3_hsrt--ProductOrServiceAxis__custom--InneovaEngineeringMember_zWABwasakXf8" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: left">INNEOVA Engineering Division</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">84</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">60</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--DepreciationAndAmortization_i01_pn3n3_z5RCittcoC0c" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Depreciation and amortization</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">678</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">396</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--OperatingIncomeLossAbstract_iB_zDhJtB4Cc991" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Segment operating income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OperatingIncomeLoss_pn3n3_hsrt--ProductOrServiceAxis__custom--InneovaAutomotiveMember_zp2de2tZlg1l" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">INNEOVA Automotive Division</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,655</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">535</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--OperatingIncomeLoss_pn3n3_hsrt--ProductOrServiceAxis__custom--InneovaIndustrialMember_zu73geduTuce" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">INNEOVA Industrial Division</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,162</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">503</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--OperatingIncomeLoss_pn3n3_hsrt--ProductOrServiceAxis__custom--InneovaEngineeringMember_zn4AA4KgPfIe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">INNEOVA Engineering Division</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(795</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">47</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--OperatingIncomeLoss_pn3n3_hsrt--ProductOrServiceAxis__custom--InneovaCorporateMember_zaiKo5cIP8u3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">INNEOVA Corporate Division</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">17</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--OperatingIncomeLoss_i01_pn3n3_zMkU3co2KHba" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Segment operating income </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">712</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,102</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Reconciliation to income before income taxes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--InterestAndDebtExpenseAbstract_iB_z8H63w8hbNWd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Interest expenses, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--InterestExpenseNonoperating_pn3n3_hsrt--ProductOrServiceAxis__custom--InneovaAutomotiveMember_zPrfyn9heQUe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">INNEOVA Automotive Division</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">150</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">172</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--InterestExpenseNonoperating_pn3n3_hsrt--ProductOrServiceAxis__custom--InneovaIndustrialMember_zzv3pImhCBfj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">INNEOVA Industrial Division</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">341</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">456</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--InterestExpenseNonoperating_pn3n3_hsrt--ProductOrServiceAxis__custom--InneovaEngineeringMember_zKuNynAe2XAf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">INNEOVA Engineering Division</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">83</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">75</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--InterestExpenseNonoperating_pn3n3_hsrt--ProductOrServiceAxis__custom--InneovaCorporateMember_zBxEiXhtn8x1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">INNEOVA Corporate Division</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--InterestExpenseNonoperating_i01_ziuveSVUz28d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Interest expenses, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">574</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">705</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Other segment item</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--OtherNonoperatingIncomeExpense_pn3n3_hsrt--ProductOrServiceAxis__custom--InneovaAutomotiveMember_zA8YqiKwwkW6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">INNEOVA Automotive Division</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">262</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">249</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--OtherNonoperatingIncomeExpense_pn3n3_hsrt--ProductOrServiceAxis__custom--InneovaIndustrialMember_zpsjxNbjKiI7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">INNEOVA Industrial Division</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(116</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(126</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--OtherNonoperatingIncomeExpense_pn3n3_hsrt--ProductOrServiceAxis__custom--InneovaEngineeringMember_zGY7P5AcJid7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">INNEOVA Engineering Division</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(9</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(110</td><td style="text-align: left">)</td></tr> <tr id="xdx_409_eus-gaap--OtherNonoperatingIncomeExpense_pn3n3_hsrt--ProductOrServiceAxis__custom--InneovaCorporateMember_z1kNV9XhFIlg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">INNEOVA Corporate Division</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">55</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--OtherNonoperatingIncomeExpense_i01_pn3n3_zfiWBOVVFUW7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Other segment item</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">137</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">68</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterestAbstract_iB_ziBRNYsRCbfd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Income before income taxes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_pn3n3_hsrt--ProductOrServiceAxis__custom--InneovaAutomotiveMember_zvu8Eq2syOW9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">INNEOVA Automotive Division</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,544</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">115</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_pn3n3_hsrt--ProductOrServiceAxis__custom--InneovaIndustrialMember_z9UT0XV1CSJ9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">INNEOVA Industrial Division</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,704</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">172</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_pn3n3_hsrt--ProductOrServiceAxis__custom--InneovaEngineeringMember_zlVIFp0YNSO4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">INNEOVA Engineering Division</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right">(886</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right">82</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_pn3n3_hsrt--ProductOrServiceAxis__custom--InneovaCorporateMember_z4X2P7U2Z3S4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">INNEOVA Corporate Division</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(40</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_i01_pn3n3_z6ptJ5AKND3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Income before income taxes</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">274</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">329</td><td style="padding-bottom: 2.5pt; text-align: left"></td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Segment assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">INNEOVA Automotive Division</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--Assets_iI_c20260630__us-gaap--StatementBusinessSegmentsAxis__custom--InneovaAutomotiveMember_zwVeMWh3HkR5" style="text-align: right">13,258</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--Assets_iI_c20250630__us-gaap--StatementBusinessSegmentsAxis__custom--InneovaAutomotiveMember_zzEuPjID6nnj" style="text-align: right">14,513</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">INNEOVA Industrial Division</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--Assets_iI_c20260630__us-gaap--StatementBusinessSegmentsAxis__custom--InneovaIndustrialMember_zMY6r360SVZf" style="text-align: right">27,946</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--Assets_iI_c20250630__us-gaap--StatementBusinessSegmentsAxis__custom--InneovaIndustrialMember_zRmo5OwOnqo" style="text-align: right">25,293</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">INNEOVA Engineering Division</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--Assets_iI_c20260630__us-gaap--StatementBusinessSegmentsAxis__custom--InneovaEngineeringMember_zoYOOaojbXS6" style="border-bottom: Black 1pt solid; text-align: right">6,348</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--Assets_iI_c20250630__us-gaap--StatementBusinessSegmentsAxis__custom--InneovaEngineeringMember_zEjuSpZn2Sih" style="border-bottom: Black 1pt solid; text-align: right">12,778</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Segment assets</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98F_eus-gaap--Assets_iI_c20260630_zYxZpMiUHYPg" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">47,552</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_988_eus-gaap--Assets_iI_c20250630_zRJGWAgXIRY1" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Segment assets">52,584</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> In accordance with ASC 280, Segment Reporting (“ASC 280”), we have two reportable business segments. Sales are based on the countries in which the customer is located. Summarized financial information concerning our geographic segments is shown in the following tables: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20260101__20260630_zqwCxSFkaV4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20250101__20250630_zlT56mmGj9Zf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six Months ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td></tr> <tr id="xdx_403_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hsrt--StatementGeographicalAxis__srt--AsiaPacificMember_zAG9r9dtPqTk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Asia Pacific</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">22,495</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">25,540</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hsrt--StatementGeographicalAxis__custom--MiddleEastEuropeAndAfricaMember_znbHiYsEoUHf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Middle East, Europe and Africa</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">827</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,480</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hsrt--StatementGeographicalAxis__srt--AmericasMember_zF1h3er1KTU2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Americas</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,472</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,751</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_zEKB7EAsXksk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Revenue from external customers</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">25,795</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">30,771</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table>

8094000

12394000

16024000

15446000

1677000

2730000

25795000

30570000

201000

25795000

30771000

8094000

12394000

16024000

15446000

1677000

2730000

201000

25795000

30771000

8770000

9770000

9910000

12926000

1682000

2149000

20362000

24845000

281000

301000

320000

488000

24000

42000

625000

831000

1520000

1722000

1215000

1259000

682000

432000

184000

3417000

3597000

178000

66000

416000

270000

84000

60000

678000

396000

-2655000

535000

4162000

503000

-795000

47000

17000

712000

1102000

150000

172000

341000

456000

83000

75000

2000

574000

705000

262000

249000

-116000

-126000

-9000

-110000

55000

137000

68000

-2544000

115000

3704000

172000

-886000

82000

-40000

274000

329000

13258000

14513000

27946000

25293000

6348000

12778000

47552000

52584000

22495000

25540000

827000

2480000

2472000

2751000

25795000

30771000

NOTE－4 ACCOUNTS RECEIVABLE, NET Accounts receivable, net consisted of the following: SCHEDULE OF ACCOUNTS RECEIVABLE, NET <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20260630_zqDI3feu64f1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20251231_zcJCSOsZv3rf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Current assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--AccountsReceivableGrossCurrent_iI_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ThirdPartiesMember_zx7qHWDAwdjg" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">Accounts receivable – third parties</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">11,414</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">10,513</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AccountsReceivableGrossCurrent_iI_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_z0qInzTmSdH4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accounts receivable – related parties</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,849</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,630</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--AccountsReceivableGrossCurrent_iI_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zfveQH99r7Gh" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accounts receivable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,849</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,630</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iNI_pn3n3_di_msARNCzJX8_ze0uFKVRCKVb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: allowance for doubtful accounts</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,560</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,578</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--AccountsReceivableNetCurrent_iTI_zJejwkCOgk0h" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Accounts receivable, net</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">11,703</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">10,565</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> SCHEDULE OF ACCOUNTS RECEIVABLE PAST DUE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20260630_zQsORB9UmV5c" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20251231_zRb7etLa30id" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_402_eus-gaap--AccountsReceivableNet_iI_hcustom--AccountsReceivablePeriodPastDueAxis__custom--AccountsReceivableCurrentMember_zuBEBx2RlsCi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Current</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">3,778</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">3,633</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--AccountsReceivableNet_iI_hcustom--AccountsReceivablePeriodPastDueAxis__custom--AccountsReceivable1To30DaysPastDueMember_z4n9z5QUJdOe" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Between 1 and 30 days</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,135</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,512</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--AccountsReceivableNet_iI_hcustom--AccountsReceivablePeriodPastDueAxis__custom--AccountsReceivable31To60DaysPastDueMember_zrzqaaUqxFRg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Between 31 and 60 days</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">913</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,300</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AccountsReceivableNet_iI_hcustom--AccountsReceivablePeriodPastDueAxis__custom--AccountsReceivable61To90DaysPastDueMember_zX141w1w3fO" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Between 61 and 90 days</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">396</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">481</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--AccountsReceivableNet_iI_hcustom--AccountsReceivablePeriodPastDueAxis__custom--AccountsReceivable91To120DaysPastDueMember_zXuH8WcqPDh2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Between 91 and 120 days</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">596</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">246</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--AccountsReceivableNet_iI_hcustom--AccountsReceivablePeriodPastDueAxis__custom--AccountsReceivable121To365DaysPastDueMember_z9R9Qd8H7ICd" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Between 121 and 365 days</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,412</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">983</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--AccountsReceivableNet_iI_hcustom--AccountsReceivablePeriodPastDueAxis__custom--AccountsReceivableOver365DaysPastDueMember_zaByaJQ6Gm57" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Over 365 days</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,033</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,987</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--AccountsReceivableNet_iI_zdbnvxRGBG7d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Accounts receivable</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">14,263</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">13,142</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> The following table presents the activities in the allowance for doubtful accounts as of June 30, 2026 and December 31, 2025. SCHEDULE OF ALLOWANCE FOR CURRENT EXPECTED CREDIT LOSSES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20260101__20260630_zLnbxuJs8T6f" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20250101__20251231_zmCR0JFYkx26" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td></tr> <tr id="xdx_40F_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iS_pn3n3_zgiG7zDQKZPa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Balance at January 1,</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">2,578</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">1,665</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iS_pn3n3_zA2756jZh8ub" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Beginning balance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,578</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,665</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Additions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">800</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease_pn3n3_zju2nMwFweo1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Foreign exchange translation adjustment</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(18</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">113</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iE_pn3n3_zEeR0U10BZt2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Ending balance</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">2,560</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">2,578</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> For the six months ended June 30, 2026 and 2025, the Company made provision for estimated credit losses. The Company has not experienced any significant bad debt write-offs of accounts receivable in the past. The Company generally conducts its business with creditworthy third parties. The Company determines, on a continuing basis, the probable losses and an allowance for doubtful accounts, based on several factors including internal risk ratings, customer credit quality, payment history, historical bad debt/write-off experience and forecasted economic and market conditions. Accounts receivable are written off after exhaustive collection efforts occur and the receivable is deemed uncollectible. In addition, receivable balances are monitored on an ongoing basis and its exposure to bad debts is not significant. As of June 30, 2026 and December 31, 2025, no outstanding accounts are 30 days past due.

Accounts receivable, net consisted of the following: SCHEDULE OF ACCOUNTS RECEIVABLE, NET <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20260630_zqDI3feu64f1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20251231_zcJCSOsZv3rf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Current assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--AccountsReceivableGrossCurrent_iI_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--ThirdPartiesMember_zx7qHWDAwdjg" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">Accounts receivable – third parties</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">11,414</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">10,513</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AccountsReceivableGrossCurrent_iI_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_z0qInzTmSdH4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accounts receivable – related parties</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,849</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,630</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--AccountsReceivableGrossCurrent_iI_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zfveQH99r7Gh" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accounts receivable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,849</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,630</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iNI_pn3n3_di_msARNCzJX8_ze0uFKVRCKVb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: allowance for doubtful accounts</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,560</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,578</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--AccountsReceivableNetCurrent_iTI_zJejwkCOgk0h" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Accounts receivable, net</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">11,703</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">10,565</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table>

11414000

10513000

2849000

2630000

2849000

2630000

2560000

2578000

11703000

10565000

SCHEDULE OF ACCOUNTS RECEIVABLE PAST DUE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20260630_zQsORB9UmV5c" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20251231_zRb7etLa30id" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_402_eus-gaap--AccountsReceivableNet_iI_hcustom--AccountsReceivablePeriodPastDueAxis__custom--AccountsReceivableCurrentMember_zuBEBx2RlsCi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Current</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">3,778</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">3,633</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--AccountsReceivableNet_iI_hcustom--AccountsReceivablePeriodPastDueAxis__custom--AccountsReceivable1To30DaysPastDueMember_z4n9z5QUJdOe" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Between 1 and 30 days</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,135</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,512</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--AccountsReceivableNet_iI_hcustom--AccountsReceivablePeriodPastDueAxis__custom--AccountsReceivable31To60DaysPastDueMember_zrzqaaUqxFRg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Between 31 and 60 days</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">913</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,300</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AccountsReceivableNet_iI_hcustom--AccountsReceivablePeriodPastDueAxis__custom--AccountsReceivable61To90DaysPastDueMember_zX141w1w3fO" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Between 61 and 90 days</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">396</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">481</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--AccountsReceivableNet_iI_hcustom--AccountsReceivablePeriodPastDueAxis__custom--AccountsReceivable91To120DaysPastDueMember_zXuH8WcqPDh2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Between 91 and 120 days</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">596</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">246</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--AccountsReceivableNet_iI_hcustom--AccountsReceivablePeriodPastDueAxis__custom--AccountsReceivable121To365DaysPastDueMember_z9R9Qd8H7ICd" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Between 121 and 365 days</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,412</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">983</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--AccountsReceivableNet_iI_hcustom--AccountsReceivablePeriodPastDueAxis__custom--AccountsReceivableOver365DaysPastDueMember_zaByaJQ6Gm57" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Over 365 days</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,033</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,987</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--AccountsReceivableNet_iI_zdbnvxRGBG7d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Accounts receivable</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">14,263</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">13,142</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table>

3778000

3633000

2135000

2512000

913000

1300000

396000

481000

596000

246000

1412000

983000

5033000

3987000

14263000

13142000

The following table presents the activities in the allowance for doubtful accounts as of June 30, 2026 and December 31, 2025. SCHEDULE OF ALLOWANCE FOR CURRENT EXPECTED CREDIT LOSSES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20260101__20260630_zLnbxuJs8T6f" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20250101__20251231_zmCR0JFYkx26" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td></tr> <tr id="xdx_40F_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iS_pn3n3_zgiG7zDQKZPa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Balance at January 1,</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">2,578</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">1,665</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iS_pn3n3_zA2756jZh8ub" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Beginning balance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,578</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,665</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Additions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">800</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease_pn3n3_zju2nMwFweo1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Foreign exchange translation adjustment</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(18</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">113</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iE_pn3n3_zEeR0U10BZt2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Ending balance</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">2,560</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">2,578</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table>

2578000

1665000

2578000

1665000

-18000

113000

2560000

2578000

NOTE－5 INVENTORIES The Company’s inventories were as follows:- SCHEDULE OF INVENTORIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20260630_zYefYrmHD0Ga" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20251231_z8LguC5nsCKd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_401_eus-gaap--InventoryWorkInProcess_iI_pn3n3_maINzSfj_zKPzIi1eEDW7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Parts and components</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">17,294</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">18,923</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--InventoryValuationReserves_iNI_pn3n3_di_msINzSfj_zgfMLFTNW3ia" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: reserve for obsolete inventories</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(367</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(370</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--InventoryNet_iTI_pn3n3_mtINzSfj_zrSa8paJRCR" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total inventories</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">16,927</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">18,553</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> SCHEDULE OF CHANGE IN INVENTORIES ROLLFORWARD <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20260101__20260630_zIOevLdgZOPj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20250101__20251231_z6cbcPHLb837" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_409_eus-gaap--InventoryGross_iS_pn3n3_zMSGR8Yu6QL2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Balance at January 1,</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">370</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">350</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--InventoryGross_iS_pn3n3_zIwBZMF0Kgk4" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Inventories beginning balance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">370</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">350</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--InventoryForeignExchangeTranslationAdjustment_iN_pn3n3_di_zJ6Tgx2RoNLi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Foreign exchange translation adjustment</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">20</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--InventoryGross_iE_pn3n3_zPuGMNXkUZBb" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Inventories ending balance</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">367</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">370</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> For the six months ended June 30, 2026 and 2025, the Company has not recorded provision for impairment on obsolete inventories.

The Company’s inventories were as follows:- SCHEDULE OF INVENTORIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20260630_zYefYrmHD0Ga" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20251231_z8LguC5nsCKd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_401_eus-gaap--InventoryWorkInProcess_iI_pn3n3_maINzSfj_zKPzIi1eEDW7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Parts and components</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">17,294</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">18,923</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--InventoryValuationReserves_iNI_pn3n3_di_msINzSfj_zgfMLFTNW3ia" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: reserve for obsolete inventories</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(367</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(370</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--InventoryNet_iTI_pn3n3_mtINzSfj_zrSa8paJRCR" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total inventories</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">16,927</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">18,553</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table>

17294000

18923000

367000

370000

16927000

18553000

SCHEDULE OF CHANGE IN INVENTORIES ROLLFORWARD <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20260101__20260630_zIOevLdgZOPj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20250101__20251231_z6cbcPHLb837" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_409_eus-gaap--InventoryGross_iS_pn3n3_zMSGR8Yu6QL2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Balance at January 1,</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">370</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">350</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--InventoryGross_iS_pn3n3_zIwBZMF0Kgk4" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Inventories beginning balance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">370</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">350</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--InventoryForeignExchangeTranslationAdjustment_iN_pn3n3_di_zJ6Tgx2RoNLi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Foreign exchange translation adjustment</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">20</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--InventoryGross_iE_pn3n3_zPuGMNXkUZBb" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Inventories ending balance</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">367</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">370</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table>

370000

350000

370000

350000

3000 -20000

367000

370000

0 0 NOTE－6 AMOUNTS DUE FROM RELATED PARTIES Amounts due from related parties consisted of the following: SCHEDULE OF AMOUNT DUE FROM RELATED PARTIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20260630_z3pBM2kuM9Kg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20251231_z4qj5DZM4Mag" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Due from related parties #</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--OtherReceivables_iI_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SoonAikGlobalPteLtdMember_zrZ1hfcektD1" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">- Soon Aik Global Pte. Ltd.(1)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">2,897</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">2,947</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--OtherReceivables_iI_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FleetzoneAutopartsMSdnBhdMember_zCj6KGXky4k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>- Fleetzone Autoparts (M) Sdn Bhd(1)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">211</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--OtherReceivables_iI_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--EUGroupPteLtdMember_zJNWzCXnLu1a" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">- EU Group Pte. Ltd.(3)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">502</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">194</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--OtherReceivables_iI_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--KiwamiCorporationMember_zTI4avP4lff" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">- Kiwami Corporation(2)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--OtherReceivables_iI_pn3n3_zIE6C98yMa39" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Due from related parties</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">3,195</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">3,353</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> # The related parties of the Company are as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">(1)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Soon Aik as the controlling shareholder of the Company and Fleetzone Autoparts (M) Sdn Bhd is the <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEFNT1VOVFMgRFVFIEZST00gUkVMQVRFRCBQQVJUSUVTIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_903_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SoonAikGlobalPteLtdMember_zCjZ304YJkne" title="Ownership percentage">100.0% subsidiary of Soon Aik.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">(2)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">CE Neo is the sole owner of Soon Aik Holdings Pte. Ltd. (“SA Holdings”) and N-United Pte. Ltd. (“N-United”). SA Holdings is the parent entity of Spare-Parts Zone (Australia) Pty Ltd, and Branded Filters Pty Ltd, and an associated entity with Oceania Power & Solutions Pty Ltd. in Australia. N-United is the parent entity of PT Heavy Machindo Diesel in Indonesia and Kiwami Corporation in Japan.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">(3)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Jimmy Neo owns a <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEFNT1VOVFMgRFVFIEZST00gUkVMQVRFRCBQQVJUSUVTIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_907_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--EUGroupPteLtdMember_zUSNord0qTj2" title="Ownership percentage">50.0% equity stake in EU Holdings Pte. Ltd., which in turn is the parent entity of EU Group Pte. Ltd. and Jurong Barrels & Drums Industries Pte. Ltd..</td></tr> </table> The amounts are unsecured, interest-free and repayable on demand. Amounts due from related parties consisted of the following: SCHEDULE OF AMOUNT DUE FROM RELATED PARTIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20260630_z3pBM2kuM9Kg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20251231_z4qj5DZM4Mag" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Due from related parties #</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--OtherReceivables_iI_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SoonAikGlobalPteLtdMember_zrZ1hfcektD1" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">- Soon Aik Global Pte. Ltd.(1)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">2,897</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">2,947</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--OtherReceivables_iI_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FleetzoneAutopartsMSdnBhdMember_zCj6KGXky4k" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>- Fleetzone Autoparts (M) Sdn Bhd(1)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">211</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--OtherReceivables_iI_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--EUGroupPteLtdMember_zJNWzCXnLu1a" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">- EU Group Pte. Ltd.(3)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">502</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">194</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--OtherReceivables_iI_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--KiwamiCorporationMember_zTI4avP4lff" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">- Kiwami Corporation(2)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--OtherReceivables_iI_pn3n3_zIE6C98yMa39" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Due from related parties</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">3,195</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">3,353</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> # The related parties of the Company are as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">(1)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Soon Aik as the controlling shareholder of the Company and Fleetzone Autoparts (M) Sdn Bhd is the <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEFNT1VOVFMgRFVFIEZST00gUkVMQVRFRCBQQVJUSUVTIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_903_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--SoonAikGlobalPteLtdMember_zCjZ304YJkne" title="Ownership percentage">100.0% subsidiary of Soon Aik.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">(2)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">CE Neo is the sole owner of Soon Aik Holdings Pte. Ltd. (“SA Holdings”) and N-United Pte. Ltd. (“N-United”). SA Holdings is the parent entity of Spare-Parts Zone (Australia) Pty Ltd, and Branded Filters Pty Ltd, and an associated entity with Oceania Power & Solutions Pty Ltd. in Australia. N-United is the parent entity of PT Heavy Machindo Diesel in Indonesia and Kiwami Corporation in Japan.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">(3)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Jimmy Neo owns a <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIEFNT1VOVFMgRFVFIEZST00gUkVMQVRFRCBQQVJUSUVTIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_907_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--EUGroupPteLtdMember_zUSNord0qTj2" title="Ownership percentage">50.0% equity stake in EU Holdings Pte. Ltd., which in turn is the parent entity of EU Group Pte. Ltd. and Jurong Barrels & Drums Industries Pte. Ltd..</td></tr> </table>

2897000

2947000

211000

502000

194000

1000

3195000

3353000

1.000

0.500

NOTE－7 PROPERTY AND EQUIPMENT, NET Property and equipment consisted of the following: SCHEDULE OF PROPERTY AND EQUIPMENT, NET <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20260630_zhDlJCkzAyCg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20251231_zUfjvSRkXd73" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">At cost</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--LeaseholdBuildingsMember_zZyvchM0NNkc" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">Leasehold buildings</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">1,523</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">1,533</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zTQ5aNd1R9vf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Leasehold improvement</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">184</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">186</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ToolsAndEquipmentMember_zSi1yEtEQ57b" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Tools and equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">52</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">52</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_z1pqlOhpUmGh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Furniture, fixtures and fittings</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">266</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">267</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zF4a7QYV3Rth" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Office equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">37</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">37</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ComputerEquipmentMember_zkmjspQymEp3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Computer equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">75</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">76</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zQiHhLW03JCd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Motor vehicles</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,064</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,012</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AirConditionerMember_zZz7dBLkDVbl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Air-conditioner</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">64</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">65</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember_zeDC9lQ7vHog" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Machinery equipment</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,286</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,294</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_maPPAENzTJ5_zyswk9mhaWmh" style="vertical-align: bottom; background-color: White"> <td>Property and equipment, gross</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,551</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,522</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pn3n3_di_msPPAENzTJ5_zeu9HqyClFX1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less: accumulated depreciation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,581</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,393</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--PropertyPlantAndEquipmentNet_iTI_pn3n3_mtPPAENzTJ5_ztTGeWPjezve" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Property and equipment, net</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">1,970</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">2,129</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> Depreciation expense for the six months ended June 30, 2026 and 2025 were approximately $0.2 million and approximately $0.2 million, respectively. Property and equipment under finance leasing arrangements classified under motor vehicles as of June 30, 2026 and December 31, 2025 amounted to approximately $<span id="xdx_90C_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn5n6_c20260630__us-gaap--TypeOfArrangementAxis__custom--FinanceLeasingArrangementsMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_z7Evl6PUff1c" title="Finance leasing">0.2 million and approximately $<span id="xdx_901_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn5n6_c20251231__us-gaap--TypeOfArrangementAxis__custom--FinanceLeasingArrangementsMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zXkTb6VPU5zb" title="Finance leasing">1.1 million, respectively. Details of such leased assets are disclosed in Note 10.

Property and equipment consisted of the following: SCHEDULE OF PROPERTY AND EQUIPMENT, NET <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20260630_zhDlJCkzAyCg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20251231_zUfjvSRkXd73" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">At cost</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--LeaseholdBuildingsMember_zZyvchM0NNkc" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">Leasehold buildings</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">1,523</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">1,533</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zTQ5aNd1R9vf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Leasehold improvement</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">184</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">186</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ToolsAndEquipmentMember_zSi1yEtEQ57b" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Tools and equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">52</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">52</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_z1pqlOhpUmGh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Furniture, fixtures and fittings</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">266</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">267</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zF4a7QYV3Rth" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Office equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">37</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">37</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ComputerEquipmentMember_zkmjspQymEp3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Computer equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">75</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">76</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zQiHhLW03JCd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Motor vehicles</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,064</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,012</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--AirConditionerMember_zZz7dBLkDVbl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Air-conditioner</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">64</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">65</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember_zeDC9lQ7vHog" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Machinery equipment</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,286</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,294</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_maPPAENzTJ5_zyswk9mhaWmh" style="vertical-align: bottom; background-color: White"> <td>Property and equipment, gross</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,551</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,522</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pn3n3_di_msPPAENzTJ5_zeu9HqyClFX1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less: accumulated depreciation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,581</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,393</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--PropertyPlantAndEquipmentNet_iTI_pn3n3_mtPPAENzTJ5_ztTGeWPjezve" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Property and equipment, net</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">1,970</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">2,129</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table>

1523000

1533000

184000

186000

52000

266000

267000

37000

75000

76000

1064000

1012000

64000

65000

1286000

1294000

4551000

4522000

2581000

2393000

1970000

2129000

200000

1100000

NOTE－8 AMOUNTS DUE TO RELATED PARTIES Amounts due to related parties consisted of the following: SCHEDULE OF DUE TO RELATED PARTIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20260630_zyIxdfH268W" style="border-bottom: Black 1pt solid; text-align: center">As of June 30, 2026</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20251231_zQt38LDyU9Vd" style="border-bottom: Black 1pt solid; text-align: center">As of December 31 2025</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td></tr> <tr id="xdx_409_ecustom--OtherLiabilityCurrent_iI_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UltimateHoldingCompanyMember_zbK2YaWGGkh4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Due to ultimate holding company (dividend payable)(1)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">2,288</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">3,246</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--OtherLiabilityCurrent_iI_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AutoSaverPteLtdMember_z0dNvwE63719" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Auto Saver Pte. Ltd (2)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">244</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">110</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--OtherLiabilityCurrent_iI_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--EUGroupPteLtdMember_zlrqljYLRqV4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">EU Group Pte. Ltd.(5)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(11</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">455</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--OtherLiabilityCurrent_iI_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--NUnitedPteLtdMember_z1EmyBWC2r2k" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">N-United Pte Ltd(3)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,397</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,400</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--OtherLiabilityCurrent_iI_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FleetzoneAutopartsMSdnBhdMember_z5bjEXeczNI3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Fleetzone Autoparts (M) Sdn. Bhd.(2)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">193</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">208</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_ecustom--OtherLiabilityCurrent_iI_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DueToDirectorsMember_zi9DpJVhgYn7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Due to directors(4)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">70</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">47</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--OtherLiabilityCurrent_iI_pn3n3_zQT9f8Y0Hvg7" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Amounts due to related parties</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">4,181</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">5,467</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> * These are related to the figures which are immaterial. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">(1)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The amounts due to ultimate holding company are unsecured and not payable on demand. The ultimate holding company became a controlling shareholder of the Company.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif">(2)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Soon Aik, the controlling shareholder of the Company and is also the controlling shareholder of Auto Saver Pte. Ltd. and Fleetzone Autoparts (M) Sdn. Bhd..</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif">(3)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">CE Neo is the sole owner of Soon Aik Holdings Pte. Ltd. (“SA Holdings”) and N-United Pte. Ltd. (“N-United”). SA Holdings is the parent entity of Spare-Parts Zone (Australia) Pty Ltd, and Branded Filters Pty Ltd, and an associated entity with Oceania Power & Solutions Pty Ltd. in Australia. N-United is the parent entity of PT Heavy Machindo Diesel in Indonesia and Kiwami Corporation in Japan.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">(4)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The amounts due to directors are unsecured, interest-free and repayable on demand.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">(5)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Jimmy Neo owns a <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIERVRSBUTyBSRUxBVEVEIFBBUlRJRVMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_907_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--EUGroupPteLtdMember_zxOsJG9i3apk" title="Ownership percentage">50.0% equity stake in EU Holdings Pte. Ltd., which in turn is the parent entity of EU Group Pte. Ltd. and Jurong Barrels & Drums Industries Pte. Ltd..</td></tr> </table>

Amounts due to related parties consisted of the following: SCHEDULE OF DUE TO RELATED PARTIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20260630_zyIxdfH268W" style="border-bottom: Black 1pt solid; text-align: center">As of June 30, 2026</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20251231_zQt38LDyU9Vd" style="border-bottom: Black 1pt solid; text-align: center">As of December 31 2025</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td></tr> <tr id="xdx_409_ecustom--OtherLiabilityCurrent_iI_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--UltimateHoldingCompanyMember_zbK2YaWGGkh4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Due to ultimate holding company (dividend payable)(1)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">2,288</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">3,246</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--OtherLiabilityCurrent_iI_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AutoSaverPteLtdMember_z0dNvwE63719" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Auto Saver Pte. Ltd (2)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">244</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">110</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--OtherLiabilityCurrent_iI_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--EUGroupPteLtdMember_zlrqljYLRqV4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">EU Group Pte. Ltd.(5)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(11</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">455</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--OtherLiabilityCurrent_iI_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--NUnitedPteLtdMember_z1EmyBWC2r2k" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">N-United Pte Ltd(3)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,397</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,400</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--OtherLiabilityCurrent_iI_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FleetzoneAutopartsMSdnBhdMember_z5bjEXeczNI3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Fleetzone Autoparts (M) Sdn. Bhd.(2)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">193</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">208</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_ecustom--OtherLiabilityCurrent_iI_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DueToDirectorsMember_zi9DpJVhgYn7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Due to directors(4)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">70</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">47</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--OtherLiabilityCurrent_iI_pn3n3_zQT9f8Y0Hvg7" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Amounts due to related parties</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">4,181</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">5,467</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> * These are related to the figures which are immaterial. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">(1)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The amounts due to ultimate holding company are unsecured and not payable on demand. The ultimate holding company became a controlling shareholder of the Company.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif">(2)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Soon Aik, the controlling shareholder of the Company and is also the controlling shareholder of Auto Saver Pte. Ltd. and Fleetzone Autoparts (M) Sdn. Bhd..</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif">(3)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">CE Neo is the sole owner of Soon Aik Holdings Pte. Ltd. (“SA Holdings”) and N-United Pte. Ltd. (“N-United”). SA Holdings is the parent entity of Spare-Parts Zone (Australia) Pty Ltd, and Branded Filters Pty Ltd, and an associated entity with Oceania Power & Solutions Pty Ltd. in Australia. N-United is the parent entity of PT Heavy Machindo Diesel in Indonesia and Kiwami Corporation in Japan.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">(4)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The amounts due to directors are unsecured, interest-free and repayable on demand.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">(5)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Jimmy Neo owns a <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIERVRSBUTyBSRUxBVEVEIFBBUlRJRVMgKERldGFpbHMpIChQYXJlbnRoZXRpY2FsKQA_" id="xdx_907_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--EUGroupPteLtdMember_zxOsJG9i3apk" title="Ownership percentage">50.0% equity stake in EU Holdings Pte. Ltd., which in turn is the parent entity of EU Group Pte. Ltd. and Jurong Barrels & Drums Industries Pte. Ltd..</td></tr> </table>

2288000 3246000 244000 110000 -11000 455000 1397000 1400000 193000 208000 70000 47000 4181000 5467000

0.500

NOTE－9 BANK BORROWINGS Bank borrowings consisted of the following: SCHEDULE OF BANK BORROWINGS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20260630_zsrzsqWW3tf8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20251231_zzHoqwdhX615" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center">Term of repayments </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Annual interest rate</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_407_eus-gaap--LongTermDebtNoncurrent_iI_pn3n3_hus-gaap--DebtInstrumentAxis__custom--TermLoansMember_zpHB5D4bliFh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 38%; text-align: left">Term loans</td><td style="width: 2%"> </td> <td style="width: 12%; text-align: center">2 to 10 years</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"><span id="xdx_900_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--TermLoansMember__srt--RangeAxis__srt--MinimumMember_z58eFiSQ2Cdh" title="Annual interest rate">2.00%-<span id="xdx_90B_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--TermLoansMember__srt--RangeAxis__srt--MaximumMember_zS2lpMyfRKed" title="Annual interest rate">3.75</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">4,611</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">5,107</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--LongTermDebtNoncurrent_iI_pn3n3_hus-gaap--DebtInstrumentAxis__custom--TermLoansMember_z5JMU5JKcFs4" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Bank borrowings, long term</td><td> </td> <td style="text-align: center">2 to 10 years</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--TermLoansMember__srt--RangeAxis__srt--MinimumMember_zsA8MW6sWzGh" title="Annual interest rate">2.00%-<span id="xdx_908_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--TermLoansMember__srt--RangeAxis__srt--MaximumMember_zw0EZvj5B5W3" title="Annual interest rate">3.75</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,611</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,107</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--ShortTermBorrowings_iI_pn3n3_hus-gaap--DebtInstrumentAxis__custom--TrustReceiptsMember_zgWG50FHVuCa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Trust receipts</td><td> </td> <td style="text-align: center">Within 12 months</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--TrustReceiptsMember__srt--RangeAxis__srt--MinimumMember_zcEuxAvKX7Sk" title="Annual interest rate">1.65%-<span id="xdx_905_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--TrustReceiptsMember__srt--RangeAxis__srt--MaximumMember_zeq5uKQus1Yg" title="Annual interest rate">7.25</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13,282</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13,004</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--ShortTermBorrowings_iI_pn3n3_hus-gaap--DebtInstrumentAxis__custom--BankOverdraftMember_zCppA1l2ddZk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Bank overdraft</td><td> </td> <td style="text-align: center">Within 12 months</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">139</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">114</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--ShortTermBorrowings_iI_pn3n3_hus-gaap--DebtInstrumentAxis__custom--RevolvingLoanMember_z4oJSoBEUz2j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Revolving loan</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt">Within 12 months</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right">6.45</td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">697</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">702</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_pn3n3_zTWRBNjsiahl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Bank borrowings</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="font-weight: bold; text-align: center; padding-bottom: 2.5pt"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">18,729</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">18,927</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Representing</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--ShortTermBorrowings_iI_pn3n3_zgTW4slBwFVh" style="vertical-align: bottom; background-color: White"> <td>Within 12 months</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17,578</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17,686</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--ShortTermBorrowings_iI_pn3n3_z0uoiGKPhUrg" style="display: none; vertical-align: bottom; background-color: White"> <td>Bank borrowings, short term</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17,578</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17,686</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--LongTermDebt_iI_pn3n3_zDj1gQOlumh1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Over 1 year</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,151</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,241</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--LongTermDebt_iI_pn3n3_zxcoLvh9tcSc" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Bank borrowings, long term</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,151</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,241</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_pn3n3_zYH0iC1wQFmb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Bank borrowings</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="font-weight: bold; text-align: center; padding-bottom: 2.5pt"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">18,729</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">18,927</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> As of June 30, 2026 and December 31, 2025, bank borrowings were obtained from several financial institutions in Singapore, which bear annual interest at a fixed rate from approximately <span id="xdx_902_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--TermLoansMember__srt--RangeAxis__srt--MinimumMember__srt--StatementGeographicalAxis__country--SG_zpumR56mPOnf" title="Annual interest rate">1.65% to <span id="xdx_906_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--TermLoansMember__srt--RangeAxis__srt--MaximumMember__srt--StatementGeographicalAxis__country--SG_zcvW7DOoDXzc" title="Annual interest rate">7.25% and are repayable in <span id="xdx_900_eus-gaap--DebtInstrumentTerm_dtM_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--TermLoansMember__srt--RangeAxis__srt--MinimumMember__srt--StatementGeographicalAxis__country--SG_zsBzm5IUDB93" title="Term of repayments">1 months to <span id="xdx_90E_eus-gaap--DebtInstrumentTerm_dtY_c20260101__20260630__us-gaap--DebtInstrumentAxis__custom--TermLoansMember__srt--RangeAxis__srt--MaximumMember__srt--StatementGeographicalAxis__country--SG_zrO6a889Vn8k" title="Term of repayments">10 years. Interest related to the bank borrowings was approximately $0.5 million and approximately $0.7 million and for the six months ended June 30, 2026 and 2025, respectively. The Company’s bank borrowings are guaranteed under personal guarantees from CE Neo, Jimmy Neo, Edward Neo and CK Neo and a corporate guaranty from Soon Aik.

Bank borrowings consisted of the following: SCHEDULE OF BANK BORROWINGS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20260630_zsrzsqWW3tf8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20251231_zzHoqwdhX615" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center">Term of repayments </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Annual interest rate</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_407_eus-gaap--LongTermDebtNoncurrent_iI_pn3n3_hus-gaap--DebtInstrumentAxis__custom--TermLoansMember_zpHB5D4bliFh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 38%; text-align: left">Term loans</td><td style="width: 2%"> </td> <td style="width: 12%; text-align: center">2 to 10 years</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"><span id="xdx_900_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--TermLoansMember__srt--RangeAxis__srt--MinimumMember_z58eFiSQ2Cdh" title="Annual interest rate">2.00%-<span id="xdx_90B_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--TermLoansMember__srt--RangeAxis__srt--MaximumMember_zS2lpMyfRKed" title="Annual interest rate">3.75</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">4,611</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">5,107</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--LongTermDebtNoncurrent_iI_pn3n3_hus-gaap--DebtInstrumentAxis__custom--TermLoansMember_z5JMU5JKcFs4" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Bank borrowings, long term</td><td> </td> <td style="text-align: center">2 to 10 years</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--TermLoansMember__srt--RangeAxis__srt--MinimumMember_zsA8MW6sWzGh" title="Annual interest rate">2.00%-<span id="xdx_908_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--TermLoansMember__srt--RangeAxis__srt--MaximumMember_zw0EZvj5B5W3" title="Annual interest rate">3.75</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,611</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,107</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--ShortTermBorrowings_iI_pn3n3_hus-gaap--DebtInstrumentAxis__custom--TrustReceiptsMember_zgWG50FHVuCa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Trust receipts</td><td> </td> <td style="text-align: center">Within 12 months</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--TrustReceiptsMember__srt--RangeAxis__srt--MinimumMember_zcEuxAvKX7Sk" title="Annual interest rate">1.65%-<span id="xdx_905_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260630__us-gaap--DebtInstrumentAxis__custom--TrustReceiptsMember__srt--RangeAxis__srt--MaximumMember_zeq5uKQus1Yg" title="Annual interest rate">7.25</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13,282</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13,004</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--ShortTermBorrowings_iI_pn3n3_hus-gaap--DebtInstrumentAxis__custom--BankOverdraftMember_zCppA1l2ddZk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Bank overdraft</td><td> </td> <td style="text-align: center">Within 12 months</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">139</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">114</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--ShortTermBorrowings_iI_pn3n3_hus-gaap--DebtInstrumentAxis__custom--RevolvingLoanMember_z4oJSoBEUz2j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Revolving loan</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt">Within 12 months</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right">6.45</td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">697</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">702</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_pn3n3_zTWRBNjsiahl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Bank borrowings</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="font-weight: bold; text-align: center; padding-bottom: 2.5pt"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">18,729</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">18,927</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold"> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Representing</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--ShortTermBorrowings_iI_pn3n3_zgTW4slBwFVh" style="vertical-align: bottom; background-color: White"> <td>Within 12 months</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17,578</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17,686</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--ShortTermBorrowings_iI_pn3n3_z0uoiGKPhUrg" style="display: none; vertical-align: bottom; background-color: White"> <td>Bank borrowings, short term</td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17,578</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17,686</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--LongTermDebt_iI_pn3n3_zDj1gQOlumh1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Over 1 year</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,151</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,241</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--LongTermDebt_iI_pn3n3_zxcoLvh9tcSc" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Bank borrowings, long term</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: center; padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,151</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,241</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: center"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--DebtLongtermAndShorttermCombinedAmount_iI_pn3n3_zYH0iC1wQFmb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Bank borrowings</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="font-weight: bold; text-align: center; padding-bottom: 2.5pt"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">18,729</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">18,927</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table>

P2Y

P10Y

0.0200

0.0375

4611000

5107000

P2Y

P10Y

0.0200

0.0375

4611000

5107000

Within 12 months

0.0165

0.0725

13282000

13004000

Within 12 months

139000

114000

Within 12 months

0.0645

697000

702000

18729000

18927000

17578000

17686000

17578000

17686000

1151000

1241000

1151000

1241000

18729000

18927000

0.0165

0.0725

P1M

P10Y

500000

700000

NOTE－10 RIGHT-OF-USE ASSETS, NET The Company adopted ASU 2016-02, Leases (ASC 842), Leases, on January 1, 2019, the beginning of the fiscal 2019, using the modified retrospective approach. The Company determines whether an arrangement is a lease at inception. This determination generally depends on whether the arrangement conveys the right to control the use of an identified fixed asset explicitly or implicitly for a period of time in exchange for consideration. Control of an underlying asset is conveyed if we obtain the rights to direct the use of and to obtain substantially all of the economic benefit from the use of the underlying asset. Some of our leases include both lease and non-lease components which are accounted for as a single lease component as the Company has elected the practical expedient. Some of the operating lease agreements include variable lease costs, primarily taxes, insurance, common area maintenance or increases in rental costs related to inflation. Substantially all of our equipment leases and some of our real estate leases have terms of less than one (1) year and, as such, are accounted for as short-term leases as we have elected the practical expedient. Operating leases are included in the right-of-use lease assets, other current liabilities and long-term lease liabilities on the Consolidated Balance Sheets. Right-of-use assets and lease liabilities are recognized at each lease’s commencement date based on the present values of its lease payments over its respective lease term. When a borrowing rate is not explicitly available for a lease, the incremental borrowing rate is used based on information available at the lease’s commencement date to determine the present value of its lease payments. Operating lease payments are recognized on a straight-line basis over the lease term. The Company adopts 5.0% as weighted average incremental borrowing rate to determine the present value of the lease payments. The weighted average remaining life of the lease was three (3) years. The finance lease arrangements held by the Company are summarized as follows: SCHEDULE OF FINANCIAL LEASE ARRANGEMENTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20260630_zvmgAfEpipUk" style="border-bottom: Black 1pt solid; text-align: center">As of June 30, 2026</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20251231_zta85NjJmTJa" style="border-bottom: Black 1pt solid; text-align: center">As of December 31, 2025 </td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; font-weight: bold; text-align: left">At cost</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"></td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zmj95Irjf9Yb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Motor vehicles</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,031</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">979</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization_iI_maFLROUz5OJ_ztDBk8BWHnz8" style="vertical-align: bottom; background-color: White"> <td>Finance Lease Right of Use Asset Gross</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,031</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">979</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FinanceLeaseRightOfUseAssetAccumulatedAmortization_iNI_di_msFLROUz5OJ_z7ms81NwKxbe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less: accumulated depreciation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(742</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(701</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--FinanceLeaseRightOfUseAsset_iI_mtFLROUz5OJ_zGLBoALD2tZe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Motor vehicles, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">289</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">277</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> Amortization expenses of assets under finance lease arrangements for the six months ended June 30, 2026 and 2025 and the amounted to approximately $0.5 million and $0.5 million, respectively. Right-of-use assets consisted of the following: SCHEDULE OF RIGHT OF USE ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20260630_zkp4iHYmBJCd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20251231_zZLK3JC07qFj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">As of June 30, 2026</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">As of December 31, 2025 </td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Right-of-use assets, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--RightOfUseAssetsAtCost_iI_pn3n3_zvbuaHeY99p" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; font-style: normal; font-weight: normal; text-align: left">At cost</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,904</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,659</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-style: normal; font-weight: normal; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--RightOfUseAssetsGross_iI_pn3n3_maOLROUzsuV_zs4WfPrpNAEd" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">Right-of-use assets, gross</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">2,904</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">1,659</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--RightOfUseAssetsGrossAccumulatedAmortization_iNI_pn3n3_di_msOLROUzsuV_zSfpRO1XX1Pe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less: Accumulated amortization</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(739</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,002</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pn3n3_mtOLROUzsuV_zuQDP1W1ukN2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-style: normal; font-weight: normal; text-align: left; padding-bottom: 2.5pt">Right-of-use assets, net</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">2,165</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">657</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> Lease liabilities for the amount recognized in the consolidated balance sheet in the table below: SCHEDULE OF LEASE LIABILITIES Finance lease liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20260630_zpCccFlY7hEj" style="border-bottom: Black 1pt solid; text-align: center">As of June 30, 2026</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20251231_zCIJZNiEyI21" style="border-bottom: Black 1pt solid; text-align: center">As of December 31, 2025</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_408_eus-gaap--FinanceLeaseLiabilityPaymentsDueInNextRollingTwelveMonths_iI_zTCspB8SiJlh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Within 1 year</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">88</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">80</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--FinanceLeaseLiabilityPaymentsDueInRollingYearTwo_iI_zdTfQGzWZv92" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">More than 1 year</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">175</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">153</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--FinanceLeaseLiabilityPaymentsDue_iI_zGmOL3UHHSn9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total future lease payment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">263</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">233</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FinanceLeaseLiabilityUndiscountedExcessAmount_iNI_di_zrInx42NwLFe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: Imputed interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(31</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(23</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--FinanceLeaseLiability_iI_zAdMUXUlei1e" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Present value of finance lease liabilities</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">232</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">210</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Representing</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--FinanceLeaseLiabilityCurrent_iI_zzZZ81Eg2zV5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Current liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">76</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">70</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FinanceLeaseLiabilityNoncurrent_iI_zOe1bVRLUNA9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Non-current liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">156</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">140</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--FinanceLeaseLiability_iI_zMIpsaAxF6g7" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Finance lease liabilities</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">232</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">210</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> Operating lease liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20260630_zywQMxqdwYCc" style="border-bottom: Black 1pt solid; text-align: center">As of June 30, 2026</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20251231_zZB25lQlCzjg" style="border-bottom: Black 1pt solid; text-align: center">As of December 31, 2025 </td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_400_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextRollingTwelveMonths_iI_maOLLz8hv_zSRGyxkqPtse" style="font-style: normal; vertical-align: bottom; background-color: rgb(204,238,255); font-weight: normal"> <td style="font-style: normal; font-weight: normal; text-align: left">Within 1 year</td><td style="font-style: normal; font-weight: normal"> </td> <td style="font-style: normal; font-weight: normal; text-align: left"> </td><td style="font-style: normal; font-weight: normal; text-align: right">963</td><td style="font-style: normal; font-weight: normal; text-align: left"> </td><td style="font-style: normal; font-weight: normal"> </td> <td style="font-style: normal; font-weight: normal; text-align: left"> </td><td style="font-style: normal; font-weight: normal; text-align: right">176</td><td style="font-style: normal; font-weight: normal; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearTwo_iI_maOLLz8hv_zwCpNUfu62w8" style="font-style: normal; vertical-align: bottom; background-color: White; font-weight: normal"> <td style="font-style: normal; font-weight: normal; text-align: left; padding-bottom: 1pt">More than 1 year</td><td style="font-style: normal; font-weight: normal; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-style: normal; font-weight: normal; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-style: normal; font-weight: normal; text-align: right">1,260</td><td style="font-style: normal; padding-bottom: 1pt; font-weight: normal; text-align: left"> </td><td style="font-style: normal; font-weight: normal; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-style: normal; font-weight: normal; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-style: normal; font-weight: normal; text-align: right">508</td><td style="font-style: normal; padding-bottom: 1pt; font-weight: normal; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--OperatingLeaseLiability_iTI_mtOLLz8hv_z4u0nPAwqxdl" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; font-weight: bold; text-align: left; padding-bottom: 2.5pt">Present value of operating lease liabilities</td><td style="width: 2%; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; width: 16%; font-weight: bold; text-align: right">2,223</td><td style="width: 1%; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="width: 2%; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; width: 16%; font-weight: bold; text-align: right">684</td><td style="width: 1%; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Representing</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--OperatingLeaseLiabilityCurrent_iI_maOLLz79W_z6OfLA4xvwl5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Current liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">963</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">176</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_maOLLz79W_zZGrQT5MQK34" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Non-current liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,260</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">508</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--OperatingLeaseLiability_iI_mtOLLz79W_zStdLmyj8Nz5" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Operating lease liabilities</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">2,223</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">684</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> Components of Lease Expense We recognize lease expense on a straight-line basis over the term of the operating leases, as reported within “general and administrative” expense on the accompanying consolidated statement of operations. Future lease payments, excluding short-term leases, as of June 30, 2026 and December 31, 2025 are detailed as follows: SCHEDULE OF LEASE LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20260630_zNKDKCxyxrZb" style="border-bottom: Black 1pt solid; text-align: center">As of June 30, 2026</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20251231_zT5LTf1cbm0l" style="border-bottom: Black 1pt solid; text-align: center">As of December 31, 2025 </td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Within 1 year</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--FinanceLeaseLiabilityCurrent_iI_maLLCzVjX_zJf3nqa6T8Fk" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">- finance lease liabilities</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">76</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">70</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--OperatingLeaseLiabilityCurrent_iI_maLLCzVjX_zk9Ro6ZDOGJ6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">- operating lease liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">963</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">176</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--LeaseLiabilityCurrent_iI_mtLLCzVjX_maLLzTjP_zNmCK20d8zP2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Current lease liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,039</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">246</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">More than 1 year</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--FinanceLeaseLiabilityNoncurrent_iI_maLLNzZDR_zDpoEazU3si" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">- finance lease liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">156</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">140</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_maLLNzZDR_zqy4GGwu7DQ4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">- operating lease liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,260</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">508</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--LeaseLiabilityNoncurrent_iI_mtLLNzZDR_maLLzTjP_z8uFqw0rgqy9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Non-current lease liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,416</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">648</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--LeaseLiability_iI_mtLLzTjP_zamShLtBgLG6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Lease liabilities</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">2,455</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">894</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> Future Contractual Lease Payments as of June 30, 2026 The below table summarizes our (i) minimum lease payments over the next five periods, (ii) lease arrangement implied interest, and (iii) present value of future lease payments for the period ending June 30: SCHEDULE OF FUTURE LEASE PAYMENTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Finance lease liabilities</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Operating lease liabilities</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Financial years ending December 31,</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear_iI_maxxx_c20260630_zOwceXZem4ci" style="width: 16%; text-align: right" title="Finance lease liabilities 2026">88</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98B_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_iI_mayyy_c20260630_zySdZ5OmAFNd" style="width: 16%; text-align: right" title="Operating lease liabilities 2026">963</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2027</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--FinanceLeaseLiabilityPaymentsDueNextTwelveMonths_iI_maxxx_c20260630_zmVflQ3nk254" style="text-align: right" title="Finance lease liabilities 2027">52</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_mayyy_c20260630_zOUdRVPHcTo5" style="text-align: right" title="Operating lease liabilities 2027">726</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2028</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearTwo_iI_maxxx_c20260630_zPqa55QVzGSc" style="text-align: right" title="Finance lease liabilities 2028">49</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_mayyy_c20260630_zHh4iXc1C2S5" style="text-align: right" title="Operating lease liabilities 2028">181</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2029</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearThree_iI_maxxx_c20260630_zFe6gHFGHnXd" style="text-align: right" title="Finance lease liabilities 2029">38</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_mayyy_c20260630_zZXtqjazzNW8" style="text-align: right" title="Operating lease liabilities 2029">10</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2030</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearFour_iI_maxxx_c20260630_zn2UTHxADzNb" style="text-align: right" title="Finance lease liabilities 2030">19</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFour_iI_mayyy_c20260630_zLjEIBxa2ivf" style="text-align: right" title="Operating lease liabilities 2030">10</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Over 2030</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_ecustom--FinanceLeaseLiabilityPaymentsDueAfterYearFour_iI_maxxx_c20260630_zA4Ay3Umx9c2" style="border-bottom: Black 1pt solid; text-align: right" title="Finance lease liabilities Over 2030">17</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_ecustom--LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour_iI_mayyy_c20260630_zNVtDliUlVPh" style="border-bottom: Black 1pt solid; text-align: right" title="Operating lease liabilities Over 2030">333</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total future lease payment</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--FinanceLeaseLiabilityPaymentsDue_iI_mtxxx_mtaaa_c20260630_zOrPQjU7Qqra" style="text-align: right" title="Total future financial lease payment">263</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iI_mtyyy_mtbbb_c20260630_z1345RR5phbf" style="text-align: right" title="Total future operating lease payment">2,223</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less: Imputed interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--FinanceLeaseLiabilityUndiscountedExcessAmount_iNI_di_msaaa_c20260630_zfvYfsxTSHq2" style="border-bottom: Black 1pt solid; text-align: right" title="Less: financial lease Imputed interest">(31</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_di_msbbb_c20260630_zvPATFzho2nf" style="border-bottom: Black 1pt solid; text-align: right" title="Less: Operating lease Imputed interest">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Present value of finance lease liabilities</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98D_eus-gaap--FinanceLeaseLiability_iI_maaaa_c20260630_zrp6BwunFg33" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Present value of financial lease liabilities">232</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_988_eus-gaap--OperatingLeaseLiability_iI_mabbb_c20260630_zLg3xxVDK2bi" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Present value of operating lease liabilities">2,223</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> The Company excludes short-term leases (those with lease terms of less than one (1) year at inception) from the measurement of lease liabilities or right-of-use assets. The following tables summarize the lease expense for the financial years. The operating lease expenses are approximately $0.5 million and $0.6 million for the financial period ended June 30, 2026 and 2025.

0.050

P3Y

The finance lease arrangements held by the Company are summarized as follows: SCHEDULE OF FINANCIAL LEASE ARRANGEMENTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20260630_zvmgAfEpipUk" style="border-bottom: Black 1pt solid; text-align: center">As of June 30, 2026</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20251231_zta85NjJmTJa" style="border-bottom: Black 1pt solid; text-align: center">As of December 31, 2025 </td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; font-weight: bold; text-align: left">At cost</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"></td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zmj95Irjf9Yb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Motor vehicles</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,031</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">979</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization_iI_maFLROUz5OJ_ztDBk8BWHnz8" style="vertical-align: bottom; background-color: White"> <td>Finance Lease Right of Use Asset Gross</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,031</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">979</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--FinanceLeaseRightOfUseAssetAccumulatedAmortization_iNI_di_msFLROUz5OJ_z7ms81NwKxbe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less: accumulated depreciation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(742</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(701</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--FinanceLeaseRightOfUseAsset_iI_mtFLROUz5OJ_zGLBoALD2tZe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Motor vehicles, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">289</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">277</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table>

1031000

979000

1031000

979000

742000

701000

289000

277000

500000

Right-of-use assets consisted of the following: SCHEDULE OF RIGHT OF USE ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20260630_zkp4iHYmBJCd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20251231_zZLK3JC07qFj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">As of June 30, 2026</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">As of December 31, 2025 </td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left">Right-of-use assets, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--RightOfUseAssetsAtCost_iI_pn3n3_zvbuaHeY99p" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; font-style: normal; font-weight: normal; text-align: left">At cost</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,904</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,659</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-style: normal; font-weight: normal; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--RightOfUseAssetsGross_iI_pn3n3_maOLROUzsuV_zs4WfPrpNAEd" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">Right-of-use assets, gross</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">2,904</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">1,659</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--RightOfUseAssetsGrossAccumulatedAmortization_iNI_pn3n3_di_msOLROUzsuV_zSfpRO1XX1Pe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less: Accumulated amortization</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(739</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,002</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pn3n3_mtOLROUzsuV_zuQDP1W1ukN2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-style: normal; font-weight: normal; text-align: left; padding-bottom: 2.5pt">Right-of-use assets, net</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">2,165</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">657</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> 2904000 1659000 2904000 1659000 739000 1002000

2165000

657000

Lease liabilities for the amount recognized in the consolidated balance sheet in the table below: SCHEDULE OF LEASE LIABILITIES Finance lease liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20260630_zpCccFlY7hEj" style="border-bottom: Black 1pt solid; text-align: center">As of June 30, 2026</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20251231_zCIJZNiEyI21" style="border-bottom: Black 1pt solid; text-align: center">As of December 31, 2025</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_408_eus-gaap--FinanceLeaseLiabilityPaymentsDueInNextRollingTwelveMonths_iI_zTCspB8SiJlh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Within 1 year</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">88</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">80</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--FinanceLeaseLiabilityPaymentsDueInRollingYearTwo_iI_zdTfQGzWZv92" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">More than 1 year</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">175</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">153</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--FinanceLeaseLiabilityPaymentsDue_iI_zGmOL3UHHSn9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total future lease payment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">263</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">233</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FinanceLeaseLiabilityUndiscountedExcessAmount_iNI_di_zrInx42NwLFe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: Imputed interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(31</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(23</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--FinanceLeaseLiability_iI_zAdMUXUlei1e" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Present value of finance lease liabilities</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">232</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">210</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Representing</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--FinanceLeaseLiabilityCurrent_iI_zzZZ81Eg2zV5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Current liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">76</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">70</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FinanceLeaseLiabilityNoncurrent_iI_zOe1bVRLUNA9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Non-current liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">156</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">140</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--FinanceLeaseLiability_iI_zMIpsaAxF6g7" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Finance lease liabilities</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">232</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">210</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> Operating lease liabilities <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20260630_zywQMxqdwYCc" style="border-bottom: Black 1pt solid; text-align: center">As of June 30, 2026</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20251231_zZB25lQlCzjg" style="border-bottom: Black 1pt solid; text-align: center">As of December 31, 2025 </td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_400_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextRollingTwelveMonths_iI_maOLLz8hv_zSRGyxkqPtse" style="font-style: normal; vertical-align: bottom; background-color: rgb(204,238,255); font-weight: normal"> <td style="font-style: normal; font-weight: normal; text-align: left">Within 1 year</td><td style="font-style: normal; font-weight: normal"> </td> <td style="font-style: normal; font-weight: normal; text-align: left"> </td><td style="font-style: normal; font-weight: normal; text-align: right">963</td><td style="font-style: normal; font-weight: normal; text-align: left"> </td><td style="font-style: normal; font-weight: normal"> </td> <td style="font-style: normal; font-weight: normal; text-align: left"> </td><td style="font-style: normal; font-weight: normal; text-align: right">176</td><td style="font-style: normal; font-weight: normal; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearTwo_iI_maOLLz8hv_zwCpNUfu62w8" style="font-style: normal; vertical-align: bottom; background-color: White; font-weight: normal"> <td style="font-style: normal; font-weight: normal; text-align: left; padding-bottom: 1pt">More than 1 year</td><td style="font-style: normal; font-weight: normal; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-style: normal; font-weight: normal; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-style: normal; font-weight: normal; text-align: right">1,260</td><td style="font-style: normal; padding-bottom: 1pt; font-weight: normal; text-align: left"> </td><td style="font-style: normal; font-weight: normal; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-style: normal; font-weight: normal; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-style: normal; font-weight: normal; text-align: right">508</td><td style="font-style: normal; padding-bottom: 1pt; font-weight: normal; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--OperatingLeaseLiability_iTI_mtOLLz8hv_z4u0nPAwqxdl" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; font-weight: bold; text-align: left; padding-bottom: 2.5pt">Present value of operating lease liabilities</td><td style="width: 2%; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; width: 16%; font-weight: bold; text-align: right">2,223</td><td style="width: 1%; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="width: 2%; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; width: 16%; font-weight: bold; text-align: right">684</td><td style="width: 1%; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Representing</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--OperatingLeaseLiabilityCurrent_iI_maOLLz79W_z6OfLA4xvwl5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Current liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">963</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">176</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_maOLLz79W_zZGrQT5MQK34" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Non-current liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,260</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">508</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--OperatingLeaseLiability_iI_mtOLLz79W_zStdLmyj8Nz5" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Operating lease liabilities</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">2,223</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">684</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table>

88000

80000

175000

153000

263000

233000

31000

23000

232000

210000

76000

70000

156000

140000

232000

210000

963000

176000

1260000

508000

2223000

684000

963000

176000

1260000

508000

2223000

684000

Future lease payments, excluding short-term leases, as of June 30, 2026 and December 31, 2025 are detailed as follows: SCHEDULE OF LEASE LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20260630_zNKDKCxyxrZb" style="border-bottom: Black 1pt solid; text-align: center">As of June 30, 2026</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20251231_zT5LTf1cbm0l" style="border-bottom: Black 1pt solid; text-align: center">As of December 31, 2025 </td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Within 1 year</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--FinanceLeaseLiabilityCurrent_iI_maLLCzVjX_zJf3nqa6T8Fk" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">- finance lease liabilities</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">76</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">70</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--OperatingLeaseLiabilityCurrent_iI_maLLCzVjX_zk9Ro6ZDOGJ6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">- operating lease liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">963</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">176</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--LeaseLiabilityCurrent_iI_mtLLCzVjX_maLLzTjP_zNmCK20d8zP2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Current lease liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,039</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">246</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">More than 1 year</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--FinanceLeaseLiabilityNoncurrent_iI_maLLNzZDR_zDpoEazU3si" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">- finance lease liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">156</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">140</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_maLLNzZDR_zqy4GGwu7DQ4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">- operating lease liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,260</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">508</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--LeaseLiabilityNoncurrent_iI_mtLLNzZDR_maLLzTjP_z8uFqw0rgqy9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Non-current lease liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,416</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">648</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--LeaseLiability_iI_mtLLzTjP_zamShLtBgLG6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Lease liabilities</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">2,455</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">894</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table>

76000

70000

963000

176000

1039000 246000

156000

140000

1260000

508000

1416000 648000 2455000 894000 The below table summarizes our (i) minimum lease payments over the next five periods, (ii) lease arrangement implied interest, and (iii) present value of future lease payments for the period ending June 30: SCHEDULE OF FUTURE LEASE PAYMENTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Finance lease liabilities</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Operating lease liabilities</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Financial years ending December 31,</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear_iI_maxxx_c20260630_zOwceXZem4ci" style="width: 16%; text-align: right" title="Finance lease liabilities 2026">88</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98B_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_iI_mayyy_c20260630_zySdZ5OmAFNd" style="width: 16%; text-align: right" title="Operating lease liabilities 2026">963</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2027</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--FinanceLeaseLiabilityPaymentsDueNextTwelveMonths_iI_maxxx_c20260630_zmVflQ3nk254" style="text-align: right" title="Finance lease liabilities 2027">52</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_mayyy_c20260630_zOUdRVPHcTo5" style="text-align: right" title="Operating lease liabilities 2027">726</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2028</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearTwo_iI_maxxx_c20260630_zPqa55QVzGSc" style="text-align: right" title="Finance lease liabilities 2028">49</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_mayyy_c20260630_zHh4iXc1C2S5" style="text-align: right" title="Operating lease liabilities 2028">181</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2029</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearThree_iI_maxxx_c20260630_zFe6gHFGHnXd" style="text-align: right" title="Finance lease liabilities 2029">38</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_mayyy_c20260630_zZXtqjazzNW8" style="text-align: right" title="Operating lease liabilities 2029">10</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2030</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearFour_iI_maxxx_c20260630_zn2UTHxADzNb" style="text-align: right" title="Finance lease liabilities 2030">19</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFour_iI_mayyy_c20260630_zLjEIBxa2ivf" style="text-align: right" title="Operating lease liabilities 2030">10</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Over 2030</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_ecustom--FinanceLeaseLiabilityPaymentsDueAfterYearFour_iI_maxxx_c20260630_zA4Ay3Umx9c2" style="border-bottom: Black 1pt solid; text-align: right" title="Finance lease liabilities Over 2030">17</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_ecustom--LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour_iI_mayyy_c20260630_zNVtDliUlVPh" style="border-bottom: Black 1pt solid; text-align: right" title="Operating lease liabilities Over 2030">333</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total future lease payment</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--FinanceLeaseLiabilityPaymentsDue_iI_mtxxx_mtaaa_c20260630_zOrPQjU7Qqra" style="text-align: right" title="Total future financial lease payment">263</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iI_mtyyy_mtbbb_c20260630_z1345RR5phbf" style="text-align: right" title="Total future operating lease payment">2,223</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less: Imputed interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--FinanceLeaseLiabilityUndiscountedExcessAmount_iNI_di_msaaa_c20260630_zfvYfsxTSHq2" style="border-bottom: Black 1pt solid; text-align: right" title="Less: financial lease Imputed interest">(31</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_di_msbbb_c20260630_zvPATFzho2nf" style="border-bottom: Black 1pt solid; text-align: right" title="Less: Operating lease Imputed interest">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Present value of finance lease liabilities</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98D_eus-gaap--FinanceLeaseLiability_iI_maaaa_c20260630_zrp6BwunFg33" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Present value of financial lease liabilities">232</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_988_eus-gaap--OperatingLeaseLiability_iI_mabbb_c20260630_zLg3xxVDK2bi" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Present value of operating lease liabilities">2,223</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table>

88000

963000

52000

726000

49000

181000

38000

10000

19000

10000

17000 333000

263000

2223000

31000

232000

2223000

500000

600000

NOTE—11 SHAREHOLDERS’ EQUITY Ordinary Shares The Company was established under the laws of Cayman Islands on February 14, 2022, with authorized share of 100,000,000 ordinary shares of par value US$0.001 each. On January 5, 2024, the Company amended its memorandum of association to effect a 1:2 forward stock split and to change the authorized share capital to $100,000 divided into 200,000,000 ordinary shares, of a par value of $0.0005 each. The Company is authorized to issue one class of ordinary share. The holders of the Company’s ordinary share are entitled to the following rights: Voting Rights: Each share of the Company’s ordinary share entitles its holder to one vote per share on all matters to be voted or consented upon by the stockholders. Holders of the Company’s ordinary shares are not entitled to cumulative voting rights with respect to the election of directors. Dividend Right: Subject to limitations under Cayman law and preferences that may apply to any shares of preferred stock that the Company may decide to issue in the future, holders of the Company’s ordinary share are entitled to receive ratably such dividends or other distributions, if any, as may be declared by the Board of the Company out of funds legally available therefor. Liquidation Right: In the event of the liquidation, dissolution or winding up of our business, the holders of the Company’s ordinary share are entitled to share ratably in the assets available for distribution after the payment of all of the debts and other liabilities of the Company, subject to the prior rights of the holders of the Company’s preferred stock. Other Matters: The holders of the Company’s ordinary share have no subscription, redemption or conversion privileges. The Company’s ordinary share does not entitle its holders to preemptive rights. All of the outstanding shares of the Company’s ordinary share are fully paid and non-assessable. The rights, preferences and privileges of the holders of the Company’s ordinary share are subject to the rights of the holders of shares of any series of preferred stock which the Company may issue in the future.

100000000

0.001

1:2 forward stock split

100000

200000000

0.0005

NOTE－12 INCOME TAXES The provision for income taxes consisted of the following: SCHEDULE OF PROVISION FOR INCOME TAXES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20260101__20260630_zA8g4Emqg6S" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20250101__20250630_zR6oyfsJFS82" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six Months ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_400_eus-gaap--CurrentIncomeTaxExpenseBenefit_pn3n3_maITEBzk66_zmYaClUHt1B7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Current tax</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">61</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--IncomeTaxReconciliationPriorYearIncomeTaxes_pn3n3_maITEBzk66_zf1fvHE8hG1f" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Prior year tax</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">25</td><td style="padding-bottom: 1pt; text-align: left"></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--IncomeTaxExpenseBenefit_iT_pn3n3_mtITEBzk66_zsuZfBEFQ5Ee" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Income tax expense</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">86</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"></td></tr> </table> The effective tax rate in the years presented is the result of the mix of income earned in various tax jurisdictions that apply a broad range of income tax rate. The Company’s subsidiaries mainly operate in Singapore and Malaysia that are subject to taxes in the jurisdictions in which they operate, as follows: Cayman Islands INNEOVA Holdings is considered to be an exempted Cayman Islands Company and is presently not subject to income taxes or income tax filing requirements in the Cayman Islands or the United States. British Virgin Islands INNEOVA Group is considered to be an exempted British Virgin Islands Company and is presently not subject to income taxes or income tax filing requirements in the British Virgin Islands or the United States. Singapore INNEOVA Industrial, INNEOVA Automotive, Autozone (S) and INNEOVA Engineering are operating in Singapore and are subject to the Singapore tax law at the corporate tax rate at 17% on the assessable income arising in Singapore during its tax year. The reconciliation of income tax rate to the effective income tax rate based on net income before income taxes for the six months ended June 30, 2026 and 2025, are as follows: <p id="xdx_89A_eus-gaap--ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_hsrt--StatementGeographicalAxis__country--SG_zcfJUDqWiyGc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"> SCHEDULE OF EFFECTIVE INCOME TAX RATE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="font-weight: bold; text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20260101__20260630__srt--StatementGeographicalAxis__country--SG_zYQAiVRob0gb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20250101__20250630__srt--StatementGeographicalAxis__country--SG_zxV90WiwxEWa" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six Months ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr id="xdx_401_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_pn3n3_hsrt--StatementGeographicalAxis__country--SG_zKCK32aSzoFb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Net income before income taxes</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">274</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">690</td><td style="width: 1%; text-align: left"></td></tr> <tr id="xdx_40B_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPure_hsrt--StatementGeographicalAxis__country--SG_zWAFy0sxczPk" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Statutory income tax rate</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">17</td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">17</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> <tr id="xdx_40C_eus-gaap--IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_pn3n3_hsrt--StatementGeographicalAxis__country--SG_maITEBzQJE_zX6mKKM6hSRc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Income tax expense at statutory rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">46</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">117</td><td style="text-align: left"></td></tr> <tr id="xdx_401_eus-gaap--IncomeTaxReconciliationNondeductibleExpenseOther_pn3n3_hsrt--StatementGeographicalAxis__country--SG_maITEBzQJE_z3EegcCoLPel" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Tax effect of non-taxable income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(46</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">44</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--IncomeTaxReconciliationTaxHoliday_pn3n3_hsrt--StatementGeographicalAxis__country--SG_maITEBzQJE_zKHOADrQIcpa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Tax holiday</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(100</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--IncomeTaxReconciliationOtherAdjustments_pn3n3_hsrt--StatementGeographicalAxis__country--SG_maITEBzQJE_zqjVdwAcQx3i" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Others</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">25</td><td style="padding-bottom: 1pt; text-align: left"></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--IncomeTaxExpenseBenefit_iT_pn3n3_hsrt--StatementGeographicalAxis__country--SG_mtITEBzQJE_z9vansZhjco8" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Income tax expense</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">86</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"></td></tr> </table> Malaysia INNEOVA Malaysia is operating in Malaysia and is subject to the Malaysia tax law at the corporate tax rate at <span id="xdx_901_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPure_c20260101__20260630__srt--StatementGeographicalAxis__country--MY_zW7nj0HnNzj7" title="Federal statutory income tax rate">24% on the assessable income arising in Malaysia during its tax year. The reconciliation of income tax rate to the effective income tax rate based on net income before income taxes for the six months ended June 30, 2026 and 2025, are as follows: <p id="xdx_898_eus-gaap--ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_hsrt--StatementGeographicalAxis__country--MY_zKJ1ev0SEFD8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"> SCHEDULE OF EFFECTIVE INCOME TAX RATE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="font-weight: bold; text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20260101__20260630__srt--StatementGeographicalAxis__country--MY_z0utabGvGcm6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20250101__20250630__srt--StatementGeographicalAxis__country--MY_zExGcL636U5a" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six Months ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr id="xdx_406_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_pn3n3_hsrt--StatementGeographicalAxis__country--MY_zNhH8qKOfd5l" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Net loss before income taxes</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">(80</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">(90</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPure_hsrt--StatementGeographicalAxis__country--MY_zxTEFPeYGbFl" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Statutory income tax rate</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">24</td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">24</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> <tr id="xdx_40C_eus-gaap--IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_pn3n3_hsrt--StatementGeographicalAxis__country--MY_maITEBzQJE_z4fSlj6mq3Qd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Income tax expense at statutory rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(19</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(22</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_ecustom--IncomeTaxReconciliationTaxHoliday_pn3n3_hsrt--StatementGeographicalAxis__country--MY_maITEBzQJE_ztVU1QFiDWv1" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: justify">Tax holiday</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">19</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">22</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--IncomeTaxExpenseBenefit_iT_pn3n3_hsrt--StatementGeographicalAxis__country--MY_mtITEBzQJE_z5VpaIAX90Q8" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Income tax expense</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> The following table sets forth the significant components of the deferred tax assets and liabilities of the Company as of June 30, 2026 and December 31, 2025: SCHEDULE OF DEFERRED INCOME TAX LIABILITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20260630_znVMEra63sU1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20251231_zoQUKKVFUuk3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr id="xdx_40B_eus-gaap--DeferredTaxLiabilitiesNetAbstract_iB_zA3Qh7J5JDT7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Deferred tax liabilities:</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DeferredTaxLiabilities_i01I_pn3n3_zel1aidDAoEd" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Accelerated tax depreciation</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">78</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">112</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> Uncertain tax positions The Company evaluates the uncertain tax position (including the potential application of interest and penalties) based on the technical merits, and measure the unrecognized benefits associated with the tax positions. As of June 30, 2026 and December 31, 2025, the Company did not have any significant unrecognized uncertain tax positions. The Company did not incur any interest and penalties related to potential underpaid income tax expenses for the six months ended June 30, 2026 and 2025, and also did not anticipate any significant increases or decreases in unrecognized tax benefits in the next 12 months from June 30, 2026.

The provision for income taxes consisted of the following: SCHEDULE OF PROVISION FOR INCOME TAXES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20260101__20260630_zA8g4Emqg6S" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20250101__20250630_zR6oyfsJFS82" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six Months ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_400_eus-gaap--CurrentIncomeTaxExpenseBenefit_pn3n3_maITEBzk66_zmYaClUHt1B7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Current tax</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">61</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--IncomeTaxReconciliationPriorYearIncomeTaxes_pn3n3_maITEBzk66_zf1fvHE8hG1f" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Prior year tax</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">25</td><td style="padding-bottom: 1pt; text-align: left"></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--IncomeTaxExpenseBenefit_iT_pn3n3_mtITEBzk66_zsuZfBEFQ5Ee" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Income tax expense</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">86</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"></td></tr> </table>

61000

25000

86000

0.17

<p id="xdx_89A_eus-gaap--ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_hsrt--StatementGeographicalAxis__country--SG_zcfJUDqWiyGc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"> SCHEDULE OF EFFECTIVE INCOME TAX RATE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="font-weight: bold; text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20260101__20260630__srt--StatementGeographicalAxis__country--SG_zYQAiVRob0gb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20250101__20250630__srt--StatementGeographicalAxis__country--SG_zxV90WiwxEWa" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six Months ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr id="xdx_401_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_pn3n3_hsrt--StatementGeographicalAxis__country--SG_zKCK32aSzoFb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Net income before income taxes</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">274</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">690</td><td style="width: 1%; text-align: left"></td></tr> <tr id="xdx_40B_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPure_hsrt--StatementGeographicalAxis__country--SG_zWAFy0sxczPk" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Statutory income tax rate</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">17</td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">17</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> <tr id="xdx_40C_eus-gaap--IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_pn3n3_hsrt--StatementGeographicalAxis__country--SG_maITEBzQJE_zX6mKKM6hSRc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Income tax expense at statutory rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">46</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">117</td><td style="text-align: left"></td></tr> <tr id="xdx_401_eus-gaap--IncomeTaxReconciliationNondeductibleExpenseOther_pn3n3_hsrt--StatementGeographicalAxis__country--SG_maITEBzQJE_z3EegcCoLPel" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Tax effect of non-taxable income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(46</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">44</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--IncomeTaxReconciliationTaxHoliday_pn3n3_hsrt--StatementGeographicalAxis__country--SG_maITEBzQJE_zKHOADrQIcpa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Tax holiday</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(100</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--IncomeTaxReconciliationOtherAdjustments_pn3n3_hsrt--StatementGeographicalAxis__country--SG_maITEBzQJE_zqjVdwAcQx3i" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Others</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">25</td><td style="padding-bottom: 1pt; text-align: left"></td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--IncomeTaxExpenseBenefit_iT_pn3n3_hsrt--StatementGeographicalAxis__country--SG_mtITEBzQJE_z9vansZhjco8" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Income tax expense</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">86</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"></td></tr> </table>

274000

690000

0.17

46000

117000

-46000

44000

-100000

25000

86000

0.24

<p id="xdx_898_eus-gaap--ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_hsrt--StatementGeographicalAxis__country--MY_zKJ1ev0SEFD8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"> SCHEDULE OF EFFECTIVE INCOME TAX RATE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="font-weight: bold; text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20260101__20260630__srt--StatementGeographicalAxis__country--MY_z0utabGvGcm6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20250101__20250630__srt--StatementGeographicalAxis__country--MY_zExGcL636U5a" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six Months ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr id="xdx_406_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_pn3n3_hsrt--StatementGeographicalAxis__country--MY_zNhH8qKOfd5l" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Net loss before income taxes</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">(80</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">(90</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPure_hsrt--StatementGeographicalAxis__country--MY_zxTEFPeYGbFl" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Statutory income tax rate</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">24</td><td style="padding-bottom: 1pt; text-align: left">%</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">24</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr> <tr id="xdx_40C_eus-gaap--IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_pn3n3_hsrt--StatementGeographicalAxis__country--MY_maITEBzQJE_z4fSlj6mq3Qd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Income tax expense at statutory rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(19</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(22</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_ecustom--IncomeTaxReconciliationTaxHoliday_pn3n3_hsrt--StatementGeographicalAxis__country--MY_maITEBzQJE_ztVU1QFiDWv1" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: justify">Tax holiday</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">19</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">22</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--IncomeTaxExpenseBenefit_iT_pn3n3_hsrt--StatementGeographicalAxis__country--MY_mtITEBzQJE_z5VpaIAX90Q8" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Income tax expense</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">-</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table>

-80000

-90000

0.24

-19000

-22000

19000 22000

The following table sets forth the significant components of the deferred tax assets and liabilities of the Company as of June 30, 2026 and December 31, 2025: SCHEDULE OF DEFERRED INCOME TAX LIABILITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20260630_znVMEra63sU1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of June 30, 2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20251231_zoQUKKVFUuk3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of December 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr id="xdx_40B_eus-gaap--DeferredTaxLiabilitiesNetAbstract_iB_zA3Qh7J5JDT7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Deferred tax liabilities:</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DeferredTaxLiabilities_i01I_pn3n3_zel1aidDAoEd" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Accelerated tax depreciation</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">78</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">112</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table>

78000

112000

NOTE－13 RELATED PARTY TRANSACTIONS In the ordinary course of business, during the six months ended June 30, 2026 and 2025, the Company was involved in certain transactions, either at cost or current market prices and on the normal commercial terms with related parties. The following table provides the transactions with these parties for the financial years as presented (for the portion of such period that they were considered related): SCHEDULE OF TRANSACTIONS WITH RELATED PARTIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20260101__20260630_z6FinYPsxjO1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20250101__20250630_zENySB4WEcea" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Nature of transactions</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six Months ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Sale of products</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--SaleOfProducts_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SparePartsZoneAustraliaPtyLtdMember_zEnw5DcktSml" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">- Spare-Parts Zone (Australia) Pty Ltd(2)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">311</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">400</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_ecustom--SaleOfProducts_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--BrandedFiltersPtyLtdMember_zJhtZYoTxFo4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">- Branded Filters Pty Ltd(2) </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">181</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">301</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--SaleOfProducts_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--JurongBarrelsAndDrumsIndustriesPteLtdMember_zzx9WNxTD2Rh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">- Jurong Barrels & Drums Industries Pte. Ltd.(1)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"></td></tr> <tr id="xdx_408_ecustom--SaleOfProducts_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AutoSaverPteLtdMember_znn5kdevZNHb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">- Auto Saver Pte. Ltd.(3) </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">95</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">130</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--SaleOfProducts_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--PTHeavyMachindoDieselMember_z78OoqQiK4w4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">- PT Heavy Machindo Diesel(2) </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">622</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">296</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--SaleOfProducts_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--OceaniaPowerAndSolutionsPtyLtdMember_zV243wh0Jayc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">- Oceania Power & Solutions Pty Ltd(2)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">477</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--SaleOfProducts_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SoonAikGlobalPteLtdMember_zJVm3LsjWxO3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">- Soon Aik Global Pte. Ltd.(3)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--SaleOfProducts_pn3n3_zvFp5j2SdI4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Sale of products</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Sundry income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--SundryIncome_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SoonAikGlobalPteLtdMember_zFN1VYGXpns" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">- Soon Aik Global Pte. Ltd.(3)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--SundryIncome_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--EUGroupPteLtdMember_zIpKb9WNpu1h" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">- EU Group Pte. Ltd.(1) </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--SundryIncome_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--OceaniaPowerAndSolutionsPtyLtdMember_zukITGlL2yy" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">- Oceania Power & Solutions Pty Ltd(2)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--SundryIncome_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--PTHeavyMachindoDieselMember_zzTLkxmdLxc5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">- PT Heavy Machindo Diesel(2) </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Purchases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--RelatedPartyTransactionPurchasesFromRelatedParty_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--BrandedFiltersPtyLtdMember_z1e38FFQ2SQ5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">- Branded Filters Pty Ltd(2) </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">147</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--RelatedPartyTransactionPurchasesFromRelatedParty_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--PTHeavyMachindoDieselMember_zXo2ouYhbNrc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">- PT Heavy Machindo Diesel(2) </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">383</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">643</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--RelatedPartyTransactionPurchasesFromRelatedParty_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--OceaniaPowerAndSolutionsPtyLtdMember_zqMwRUVD7u65" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">- Oceania Power & Solutions Pty Ltd(2)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">533</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--RelatedPartyTransactionPurchasesFromRelatedParty_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AutoSaverPteLtdMember_zD4rLWaEJFRj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">- Auto Saver Pte. Ltd.(3) </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--RelatedPartyTransactionPurchasesFromRelatedParty_pn3n3_zeQX1u4lwi86" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Purchases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--CostsAndExpensesRelatedParty_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--EUGroupPteLtdMember_zW7lvcuRv16b" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">- EU Group Pte. Ltd.(1) </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">338</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">275</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--CostsAndExpensesRelatedParty_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--BrandedFiltersPtyLtdMember_zDWQunT6IgIk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">- Branded Filters Pty Ltd(2) </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">- *</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">- *</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--CostsAndExpensesRelatedParty_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SoonAikGlobalPteLtdMember_zEQLgPBnZmyh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">- Soon Aik Global Pte. Ltd.(3) </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">192</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">89</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--CostsAndExpensesRelatedParty_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AutoSaverPteLtdMember_zrXgQojx1Q65" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">- Auto Saver Pte. Ltd.(3) </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">109</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">124</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--CostsAndExpensesRelatedParty_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--NUnitedPteLtdMember_zNFhmAszO8V3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">- N-United Pte Ltd(2) </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">30</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--CostsAndExpensesRelatedParty_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FleetzoneAutopartsMSdnBhdMember_zO6zMTUAwZ33" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">- Fleetzone Autoparts (M) Sdn. Bhd.(3)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">29</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">14</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--CostsAndExpensesRelatedParty_pn3n3_zmDf1Srxn7V6" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">-Expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">29</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">28</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: left">*</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">These are related to the figures which are immaterial.</td></tr> </table> The related parties are controlled by the common directors of the Company as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">(1)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Jimmy Neo owns a <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIERVRSBGUk9NL1RPIFJFTEFURUQgUEFSVElFUywgTkVUIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_90D_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--JimmyNeoMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--EUGroupPteLtdMember_zdSUrqQ259A3" title="Ownership interest percentage">50.0% equity stake in EU Holdings Pte. Ltd., which in turn is the parent entity of EU Group Pte. Ltd. and Jurong Barrels & Drums Industries Pte. Ltd..</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">(2)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">CE Neo is the sole owner of Soon Aik Holdings Pte. Ltd. (“SA Holdings”) and N-United Pte. Ltd. (“N-United”). SA Holdings is the parent entity of Spare-Parts Zone (Australia) Pty Ltd. Branded Filters Pty Ltd, and an associated entity with Oceania Power & Solutions Pty Ltd. in Australia. N-United is the parent entity of PT Heavy Machindo Diesel in Indonesia and Kiwami Corporation in Japan</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">(3)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Soon Aik, the parent entity of the Company and is also the parent entity of Auto Saver Pte. Ltd. and Fleetzone Autoparts (M) Sdn. Bhd..</td></tr> </table> Apart from the transactions and balances detailed elsewhere in these accompanying consolidated financial statements, the Company has no other significant or material related party transactions during the financial years presented.

SCHEDULE OF TRANSACTIONS WITH RELATED PARTIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20260101__20260630_z6FinYPsxjO1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20250101__20250630_zENySB4WEcea" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Nature of transactions</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Six Months ended June 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Sale of products</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--SaleOfProducts_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SparePartsZoneAustraliaPtyLtdMember_zEnw5DcktSml" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left">- Spare-Parts Zone (Australia) Pty Ltd(2)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">311</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">400</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_ecustom--SaleOfProducts_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--BrandedFiltersPtyLtdMember_zJhtZYoTxFo4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">- Branded Filters Pty Ltd(2) </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">181</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">301</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_ecustom--SaleOfProducts_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--JurongBarrelsAndDrumsIndustriesPteLtdMember_zzx9WNxTD2Rh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">- Jurong Barrels & Drums Industries Pte. Ltd.(1)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"></td></tr> <tr id="xdx_408_ecustom--SaleOfProducts_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AutoSaverPteLtdMember_znn5kdevZNHb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">- Auto Saver Pte. Ltd.(3) </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">95</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">130</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--SaleOfProducts_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--PTHeavyMachindoDieselMember_z78OoqQiK4w4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">- PT Heavy Machindo Diesel(2) </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">622</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">296</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--SaleOfProducts_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--OceaniaPowerAndSolutionsPtyLtdMember_zV243wh0Jayc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">- Oceania Power & Solutions Pty Ltd(2)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">477</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--SaleOfProducts_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SoonAikGlobalPteLtdMember_zJVm3LsjWxO3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">- Soon Aik Global Pte. Ltd.(3)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--SaleOfProducts_pn3n3_zvFp5j2SdI4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Sale of products</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Sundry income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--SundryIncome_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SoonAikGlobalPteLtdMember_zFN1VYGXpns" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">- Soon Aik Global Pte. Ltd.(3)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--SundryIncome_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--EUGroupPteLtdMember_zIpKb9WNpu1h" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">- EU Group Pte. Ltd.(1) </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--SundryIncome_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--OceaniaPowerAndSolutionsPtyLtdMember_zukITGlL2yy" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">- Oceania Power & Solutions Pty Ltd(2)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--SundryIncome_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--PTHeavyMachindoDieselMember_zzTLkxmdLxc5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">- PT Heavy Machindo Diesel(2) </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Purchases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--RelatedPartyTransactionPurchasesFromRelatedParty_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--BrandedFiltersPtyLtdMember_z1e38FFQ2SQ5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">- Branded Filters Pty Ltd(2) </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">147</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--RelatedPartyTransactionPurchasesFromRelatedParty_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--PTHeavyMachindoDieselMember_zXo2ouYhbNrc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">- PT Heavy Machindo Diesel(2) </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">383</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">643</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--RelatedPartyTransactionPurchasesFromRelatedParty_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--OceaniaPowerAndSolutionsPtyLtdMember_zqMwRUVD7u65" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">- Oceania Power & Solutions Pty Ltd(2)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">533</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--RelatedPartyTransactionPurchasesFromRelatedParty_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AutoSaverPteLtdMember_zD4rLWaEJFRj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">- Auto Saver Pte. Ltd.(3) </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--RelatedPartyTransactionPurchasesFromRelatedParty_pn3n3_zeQX1u4lwi86" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Purchases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--CostsAndExpensesRelatedParty_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--EUGroupPteLtdMember_zW7lvcuRv16b" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">- EU Group Pte. Ltd.(1) </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">338</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">275</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--CostsAndExpensesRelatedParty_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--BrandedFiltersPtyLtdMember_zDWQunT6IgIk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">- Branded Filters Pty Ltd(2) </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">- *</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">- *</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--CostsAndExpensesRelatedParty_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SoonAikGlobalPteLtdMember_zEQLgPBnZmyh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">- Soon Aik Global Pte. Ltd.(3) </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">192</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">89</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--CostsAndExpensesRelatedParty_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AutoSaverPteLtdMember_zrXgQojx1Q65" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">- Auto Saver Pte. Ltd.(3) </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">109</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">124</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--CostsAndExpensesRelatedParty_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--NUnitedPteLtdMember_zNFhmAszO8V3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">- N-United Pte Ltd(2) </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">30</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--CostsAndExpensesRelatedParty_pn3n3_hus-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FleetzoneAutopartsMSdnBhdMember_zO6zMTUAwZ33" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">- Fleetzone Autoparts (M) Sdn. Bhd.(3)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">29</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">14</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--CostsAndExpensesRelatedParty_pn3n3_zmDf1Srxn7V6" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">-Expenses</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">29</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">28</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="width: 0.25in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: left">*</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">These are related to the figures which are immaterial.</td></tr> </table> The related parties are controlled by the common directors of the Company as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">(1)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Jimmy Neo owns a <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIERVRSBGUk9NL1RPIFJFTEFURUQgUEFSVElFUywgTkVUIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_90D_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20260630__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--JimmyNeoMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--EUGroupPteLtdMember_zdSUrqQ259A3" title="Ownership interest percentage">50.0% equity stake in EU Holdings Pte. Ltd., which in turn is the parent entity of EU Group Pte. Ltd. and Jurong Barrels & Drums Industries Pte. Ltd..</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">(2)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">CE Neo is the sole owner of Soon Aik Holdings Pte. Ltd. (“SA Holdings”) and N-United Pte. Ltd. (“N-United”). SA Holdings is the parent entity of Spare-Parts Zone (Australia) Pty Ltd. Branded Filters Pty Ltd, and an associated entity with Oceania Power & Solutions Pty Ltd. in Australia. N-United is the parent entity of PT Heavy Machindo Diesel in Indonesia and Kiwami Corporation in Japan</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">(3)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Soon Aik, the parent entity of the Company and is also the parent entity of Auto Saver Pte. Ltd. and Fleetzone Autoparts (M) Sdn. Bhd..</td></tr> </table>

311000 400000 181000 301000 5000 95000 130000 622000 296000 477000 12000 1000 1000 2000 12000 2000

147000

383000

643000

533000

12000

1000

338000

275000

192000

89000

109000

124000

30000

18000

29000

14000

29000

28000

0.500

NOTE－14 CONCENTRATIONS OF RISK The Company is exposed to the following concentrations of risk: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(a)</td> <td style="font: 10pt Times New Roman, Times, Serif">Major customers</td></tr> </table> For the six months ended June 30, 2026 and 2025, there is no single customer who accounted for <span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20260101__20260630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--NoSingleCustomerMember_zFcR5E6Oakrb" title="Concentration risk percentage"><span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20250101__20250630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--NoSingleCustomerMember_zKXv30z3GWDi" title="Concentration risk percentage">10.0% or more of the Company’s revenues. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(a)</td> <td style="font: 10pt Times New Roman, Times, Serif">Major vendors</td></tr> </table> For the six months ended June 30, 2026 and 2025, the vendor who accounted for <span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20260101__20260630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsTotalMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--VendorMember_zcpAMn3z8SCi" title="Concentration risk percentage"><span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20250101__20250630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsTotalMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--VendorMember_zNoKQ7rDcfll" title="Concentration risk percentage">10.0% or more of the Company’s purchases and its outstanding payable balances as at year end date, is presented as follows: SCHEDULE OF CONCENTRATIONS OF RISK <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Percentage of purchases</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Accounts payable</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Percentage of purchases</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Accounts payable</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">%</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">%</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="width: 36%; text-align: center"> </td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 12%; font-weight: bold; text-align: right"> </td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 12%; font-weight: bold; text-align: right"> </td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 12%; font-weight: bold; text-align: right"> </td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 12%; font-weight: bold; text-align: right"> </td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Vendor A</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20260101__20260630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsTotalMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--VendorAMember_zOdRBSkNf4Pg" title="Percentage of purchases">17.2</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_90F_eus-gaap--AccountsPayableCurrent_iI_pn3n3_c20260630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsTotalMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--VendorAMember_zeRV0DiB60bi" title="Accounts payable">13,273</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_90A_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20250101__20250630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsTotalMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--VendorAMember_zWnRnIOGcHsc" title="Percentage of purchases">19.7</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_90B_eus-gaap--AccountsPayableCurrent_iI_pn3n3_c20250630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsTotalMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--VendorAMember_z4Wu4zbsV0n7" title="Accounts payable">2,965</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(b)</td> <td style="font: 10pt Times New Roman, Times, Serif">Credit risk</td></tr> </table> Financial instruments that potentially subject the Company to credit risk consist of cash equivalents, restricted cash, accounts and loans receivable. Cash equivalents are maintained with high credit quality institutions, the composition and maturities of which are regularly monitored by management. From April 1, 2024 onwards, the Singapore Deposit Protection Board pays compensation up to a limit of SGD100,000 (approximately $74,360) if the bank with which an individual/a company hold its eligible deposit fails. As of June 30, 2026, cash balance of approximately $0.6 million and restricted cash of approximately $0.3 million were maintained at financial institutions in Singapore and Malaysia, of which approximately $0.8 million was subject to credit risk. While management believes that these financial institutions are of high credit quality, it also continually monitors their credit worthiness. For accounts receivable, the Company determines, on a continuing basis, the probable losses and sets up an allowance for doubtful accounts based on the estimated realizable value. The Company has adopted a policy of only dealing with creditworthy counterparties. The Company performs ongoing credit evaluation of its counterparties’ financial condition and generally do not require a collateral. The Company also considers the probability of default upon initial recognition of asset and whether there has been a significant increase in credit risk on an ongoing basis throughout each reporting period. The Company has determined the default event on a financial asset to be when internal and/or external information indicates that the financial asset is unlikely to be received, which could include default of contractual payments due for more than 90 days, default of interest due for more than 365 days or there is significant difficulty of the counterparty. To minimize credit risk, the Company has developed and maintained its credit risk grading to categorize exposures according to their degree of risk of default. The credit rating information is supplied by publicly available financial information and the Company’s own trading records to rate its major customers and other debtors. The Company considers available reasonable and supportive forward-looking information which includes the following indicators: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in; text-align: justify">● </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Actual or expected significant adverse changes in business, financial or economic conditions that are expected to cause a significant change to the debtor’s ability to meet its obligations</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">● </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Internal credit rating</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">● </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">External credit rating and when necessary</td></tr> </table> Regardless of the analysis above, a significant increase in credit risk is presumed if a debtor is more than 30 days past due in making contractual payment. As of June 30, 2026 and December 31, 2025, there was a single customer whose account receivable balances is amounted to approximately <span id="xdx_900_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20260101__20260630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SingleCustomerMember_z1Uv3XMDXhzi" title="Concentration risk percentage">16.9% and <span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20250101__20251231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SingleCustomerMember_zHKZtTDb0iJ8" title="Concentration risk percentage">17.5% of total consolidated amounts, respectively. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(c)</td> <td style="font: 10pt Times New Roman, Times, Serif">Interest rate risk</td></tr> </table> As the Company has no significant interest-bearing assets, the Company’s income and operating cash flows are substantially independent of changes in market interest rates. The Company’s interest-rate risk arises from bank borrowings. The Company manages interest rate risk by varying the issuance and maturity dates of variable rate debt, limiting the amount of variable rate debt, and continually monitoring the effects of market changes in interest rates. As of June 30, 2026 and December 31, 2025, the bank borrowings were at fixed interest rates. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(d)</td> <td style="font: 10pt Times New Roman, Times, Serif">Economic and political risk</td></tr> </table> The Company’s major operations are conducted in Singapore and Malaysia. Accordingly, the political, economic, and legal environments in Singapore and Malaysia, as well as the general state of Singapore and Malaysia’s economy may influence the Company’s business, financial condition, and results of operations. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(e)</td> <td style="font: 10pt Times New Roman, Times, Serif">Exchange rate risk</td></tr> </table> The Company cannot guarantee that the current exchange rate will remain steady. Therefore there is a possibility that the Company could post the same amount of profit for two comparable periods and because of the fluctuating exchange rate actually post higher or lower profit depending on exchange rate of SGD and MYR converted to US$ on that date. The exchange rate could fluctuate depending on changes in political and economic environments without notice. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(f)</td> <td style="font: 10pt Times New Roman, Times, Serif">Liquidity risk</td></tr> </table> Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they become due. The Company’s policy is to ensure that it has sufficient cash to meet its liabilities when they become due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Company’s reputation. A key risk in managing liquidity is the degree of uncertainty in the cash flow projections. If future cash flows are fairly uncertain, the liquidity risk increases. There is still significant uncertainty over the future development of the outbreak as to the duration of the pandemic and the global situation remains very fluid at the date of these financial statements approved. Management is closely monitoring the Company’s businesses activities and has taken certain measures to ensure the Company has sufficient working capital to continue providing services to the ultimate holding company and to settle all its obligations. Potential impact to the Company’s results of operations for 2025 will also depend on economic impact due to the pandemic and if any future resurgence of the virus globally, which are beyond the Company’s control. There is no guarantee that the Company’s revenues will grow or remain at a similar level year over year in 2026.

0.100

SCHEDULE OF CONCENTRATIONS OF RISK <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Percentage of purchases</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Accounts payable</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Percentage of purchases</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Accounts payable</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">%</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">%</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$’000</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="width: 36%; text-align: center"> </td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 12%; font-weight: bold; text-align: right"> </td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 12%; font-weight: bold; text-align: right"> </td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 12%; font-weight: bold; text-align: right"> </td><td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 12%; font-weight: bold; text-align: right"> </td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Vendor A</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20260101__20260630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsTotalMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--VendorAMember_zOdRBSkNf4Pg" title="Percentage of purchases">17.2</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_90F_eus-gaap--AccountsPayableCurrent_iI_pn3n3_c20260630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsTotalMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--VendorAMember_zeRV0DiB60bi" title="Accounts payable">13,273</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_90A_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20250101__20250630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsTotalMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--VendorAMember_zWnRnIOGcHsc" title="Percentage of purchases">19.7</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><span id="xdx_90B_eus-gaap--AccountsPayableCurrent_iI_pn3n3_c20250630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--CostOfGoodsTotalMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--SupplierConcentrationRiskMember__srt--MajorCustomersAxis__custom--VendorAMember_z4Wu4zbsV0n7" title="Accounts payable">2,965</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table>

0.172

13273000

0.197

2965000

100000

74360

600000

300000

800000

0.169

0.175

NOTE－15 COMMITMENTS AND CONTINGENCIES Litigation — From time to time, the Company may be involved in various legal proceedings and claims in the ordinary course of business. The Company currently is not aware of any legal proceedings or claims that it believes will have, individually or in the aggregate, a material adverse effect on its business, financial condition, operating results, or cash flows. As of June 30, 2026 and December 31, 2025, the Company has no material commitments or contingencies.

NOTE－16 SUBSEQUENT EVENTS In accordance with ASC Topic 855, Subsequent Events, which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before condensed consolidated financial statements are issued, the Company has evaluated all events or transactions that occurred after June 30, 2026, up through the date the Company issued the audited consolidated financial statements. During the period, the Company did not have any material subsequent events other than disclosed above.

Soon Aik as the controlling shareholder of the Company and Fleetzone Autoparts (M) Sdn Bhd is the 100.0% subsidiary of Soon Aik. CE Neo is the sole owner of Soon Aik Holdings Pte. Ltd. (“SA Holdings”) and N-United Pte. Ltd. (“N-United”). SA Holdings is the parent entity of Spare-Parts Zone (Australia) Pty Ltd, and Branded Filters Pty Ltd, and an associated entity with Oceania Power & Solutions Pty Ltd. in Australia. N-United is the parent entity of PT Heavy Machindo Diesel in Indonesia and Kiwami Corporation in Japan. Jimmy Neo 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 & Drums Industries Pte. Ltd.. The amounts due to ultimate holding company are unsecured and not payable on demand. The ultimate holding company became a controlling shareholder of the Company. Soon Aik, the controlling shareholder of the Company and is also the controlling shareholder of Auto Saver Pte. Ltd. and Fleetzone Autoparts (M) Sdn. Bhd.. CE Neo is the sole owner of Soon Aik Holdings Pte. Ltd. (“SA Holdings”) and N-United Pte. Ltd. (“N-United”). SA Holdings is the parent entity of Spare-Parts Zone (Australia) Pty Ltd, and Branded Filters Pty Ltd, and an associated entity with Oceania Power & Solutions Pty Ltd. in Australia. N-United is the parent entity of PT Heavy Machindo Diesel in Indonesia and Kiwami Corporation in Japan. The amounts due to directors are unsecured, interest-free and repayable on demand. Jimmy Neo 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 & Drums Industries Pte. Ltd.. These are related to the figures which are immaterial. CE Neo is the sole owner of Soon Aik Holdings Pte. Ltd. (“SA Holdings”) and N-United Pte. Ltd. (“N-United”). SA Holdings is the parent entity of Spare-Parts Zone (Australia) Pty Ltd. Branded Filters Pty Ltd, and an associated entity with Oceania Power & Solutions Pty Ltd. in Australia. N-United is the parent entity of PT Heavy Machindo Diesel in Indonesia and Kiwami Corporation in Japan Jimmy Neo 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 & Drums Industries Pte. Ltd.. Soon Aik, the parent entity of the Company and is also the parent entity of Auto Saver Pte. Ltd. and Fleetzone Autoparts (M) Sdn. Bhd..