MClean Technologies diversifies


PETALING JAYA: MClean Technologies Bhd is proposing a 25% private placement, acquisition of a plastic injection moulding business and diversification into the plastic injection moulding business, together with a proposed share capital reduction.

In a statement, the precision cleaning and surface treatment solutions provider said it is acquiring the plastic injection moulding business from We Total Engineering Sdn Bhd for a net book value of RM6.04mil.

Additionally, MClean said it plans to issue up to 49.3 million new shares via private placement to potential investors, representing 25% of its issued share capital.

It is also proposing a share capital reduction of RM35mil.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Business News

Ringgit opens higher against US$, Asean currencies ahead of GDP data release
FBM KLCI little changed ahead of GDP result
Singapore's economy expands 4.4% in 2024, up from earlier estimates
Trading ideas: MAHB, Perak, Glomac, Sunway, MN, Able Global, Tanjung Offshore, DNeX, VS, CelcomDigi, Dialog, ES Sunlogy, Luxchem, Mega Fortris
Oil ends flat, pares early losses as tariffs delayed
Wall St ends higher after Trump unveils tariff plan
Positive outlook for property sector this year
KWAP posts record net income in 2024
AirAsia X 4Q24 passenger volume increases 20%
GUH to sell China land for RM120mil

Others Also Read