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.