KUALA LUMPUR, January 23 – MClean Technologies Berhad (“MClean”), a leading provider of precision cleaning and surface treatment solutions, has successfully concluded its private placement exercise, raising RM13.2 million through the issuance of 49.0 million new ordinary shares at RM0.27 per share.
This initiative bolsters the company’s financial position, supporting the acquisition of We Total Engineering Sdn. Bhd.’s plastic business and providing working capital for operations in high-demand sectors like automotive, electronics, and medical devices. With this exercise, MClean’s total issued shares have increased to 246.2 million, elevating its share capital to RM64.2 million.
Executive Chairman Datuk Dr. Terence Tea Yeok Kian remarked, “The successful private placement highlights investor confidence in our growth strategy and vision. The funds will accelerate our diversification into high-growth sectors and strengthen our operational capabilities, delivering consistent value to shareholders.”
Under Dr. Tea’s leadership, MClean has reported three consecutive profitable quarters and executed strategic initiatives for sustainable growth. The company, now valued at RM63.1 million with shares closing at RM0.320, remains focused on long-term expansion and profitability through its diversified operations.
