KUALA LUMPUR (June 25): MClean Technologies Bhd (KL:MCLEAN) on Tuesday announced the sale of a 28.53% stake in the company to Singapore-listed Accrelist Ltd.

MClean, in its brief filing to Bursa Malaysia, did not state the sale price.

But Accrelist, in its announcement to the Singapore Exchange (SGX), said it is buying the stake, comprising 56.27 million shares, from six shareholders of MClean for just over RM9 million or 16 sen per share.

Accrelist noted that Mclean is engaged in the business of providing surface treatment, precision cleaning and packaging services catering mainly to customers in the hard disk drive, consumer electronics, and oil and gas sectors.

MClean has an established track record of over 20 years of operations principally in Malaysia and Singapore, with a relatively smaller operation in Thailand, added Accrelist, an aesthetic company listed on the Catalist Board of SGX.

Upon completion of the deal, Accrelist said it expects synergies between its subsidiary Jubilee and MClean will allow both companies to capitalise on their respective strengths, creating cross-selling opportunities and expanding their customer base.

“This potential collaboration is expected to drive growth and offer comprehensive solutions to a broader market, further establishing Jubilee’s presence in the electronics and semiconductor sectors, especially within the storage space,” it added.

MClean shares closed half a sen or 1.22% lower to 40.5 sen, giving it a market capitalisation of RM79.87 million.