KUALA LUMPUR (Sept 18): MClean Technologies Bhd (KL:MCLEAN) said it is not aware of any corporate development, rumour, or other reason that could explain the sharp rise in its share price and trading volume on Thursday.
Replying to Bursa Malaysia's unusual market activity (UMA) query, the company said that to the best of its knowledge and after due enquiry with its directors, major shareholders and other relevant parties, it is unaware of any material development that has not been announced.
Bursa issued the UMA query earlier in the day when the stock surged to its highest level in more than four years. The counter jumped as much as 13.97% to 53 sen before easing to 49.5 sen at market close, still up 6.45%. This boosted the company's market capitalisation to RM121.88 million.
MClean saw 33.52 million shares changing hands, making it the day's sixth-most active stock on the local bourse.
The company provides surface treatment, precision cleaning, sterilisation and packaging services to industries such as hard disk drives, consumer electronics, and oil and gas.
For the six months ended June 30, 2025, MClean’s net profit jumped more than fourfold from a year earlier to RM5.89 million, mainly on the back of improved production efficiency in its core services. Revenue climbed to RM32.08 million from RM28.67 million.
According to Bloomberg, Accrelist Crowdfunding Pte Ltd is the largest shareholder of MClean with a stake of about 26.9%, followed by United Overseas Bank Ltd with 22% and Decor Industries Pte Ltd with 9.6%. Other substantial shareholders include JCS Group Pte Ltd with 6.8%, and CGS-CIMB Securities with 5%.