INNEOVA Holdings Ltd (INEO), a manufacturer of replacement parts for motor vehicles and combustion engines serving various industrial sectors, faces significant Shariah compliance challenges primarily due to a high debt ratio of 59.06%, exceeding thresholds across major standards. While business activities are permissible and non-permissible income is negligible at 0%, the financial leverage disqualifies it under AAOIFI, MSCI, and S&P methodologies. No inclusion in major Shariah indices confirms non-compliance status. Purification is required for minor interest income, but structural debt issues persist. Investors should monitor debt reduction efforts for potential future compliance.