KUALA LUMPUR: MClean Technologies Bhd has entered into a sale and purchase agreement to dispose more than 56.3 million or 28.53 per cent shares to Singaporean firm Accrelist Ltd.
Accrelist executive chairman and managing director Datuk Dr. Terence Tea Yeok Kian said the move underscores its confidence in the business direction and growth prospects, especially in the growing demand for hard disk drive (HDD) solutions, following the significant increase in demand for data centres.
In a statement today, the aesthetic company listed on the Catalist Board of Singapore Exchange (SGX) said the acquisition is conditional upon the satisfaction or, where applicable, waiver of certain conditions precedent.
MClean has established itself as a pivotal player in the electronics and semiconductor products cleaning solutions industry.
Operates in Malaysia, Singapore, and Thailand, the company offers a comprehensive range of services, including surface treatment, precision cleaning, sterile, and packaging services for various industries such as HDD, consumer electronics, as well as oil and gas.
"MClean's strong presence in the HDD solutions industry positions it well to capitalise on the growing demand for data centres," Tea said.
Malaysia is seeing significant data centre investments, with Johor emerging as the largest data centre market in the country, he added.
"Johor is poised to attract RM17.0 billion (US$3.6 billion) in new data centre investments in 2024 alone, according to the news report by the New Straits Times, driven by multinational corporations taking advantage of its strategic location and lower operating costs.
"Major players like Nvidia, AirTrunk and Microsoft are establishing data centres in the region, further boosting the demand for HDD solutions," Tea added.
Following the acquisition, synergies between Jubilee, a subsidiary of Accrelist, and MClean Technologies will enable both companies to leverage on their respective strengths to create cross-selling opportunities and enhance the customer base of both entities.
Accrelist highlighted that this is expected to drive growth and provide comprehensive solutions to a broader market, further solidifying Jubilee's presence in the electronics and semiconductor sectors, especially in the storage space sector.
The share price of MClean Technologies closed at 40.5 sen today, representing a market capitalisation of RM79.7 million.
