MClean Technologies Berhad IPO


MClean Technologies Bhd, a precision cleaning and plastic injection moulding service provider in Singapore is schedule to be listed in ACE Market on 10th May 2011.

MClean Technologies’s IPO consists of public issue of 15.4 million new ordinary shares at an IPO price of RM0.52 per share with RM0.25 par value. The issues come with 7.7 million free warrants. Out of this, 2.7 million shares & 1.35 million free warrants are allocated to Malaysian public.

On top of new shares issues, 11 millions of existing shares come with 5.5 million free warrants are for sale to identified investors.

The IPO will raise RM8 million in proceeds. Out of this, 30 per cent of the proceeds would be utilised for capital expenditure and 41 per cent for working capital purposes while the rest for listing expenses. Part of the proceeds is for expansion to China to boost up capacity by double digit.

MClean Technologies was incorporated as a private limited company in Malaysia on 17th March, 2010.

The company that specializes in the hard disk drive (HDD) industry, has a market leadership and technological competence in precision cleaning.

MClean has a reputation and long-standing working relationship with major HDD industry players provides the leverage and benefit to secure continued cleaning jobs in Singapore as well as neighbouring HDD hubs such as, Malaysia, Thailand and China.

More information about MClean Technologies can be found in their webpage.

Currently, MClean Technologies has no fixed dividend policy.

The table below are financial summary for MClean Technologies Bhd.

FYE 2007 FYE 2008 FYE 2009
Revenue (RM’000) 27,279 25,664 25,305
Profit after Tax (RM’000) 1,648 (2,180) 1,908
Earnings per Share (sen) 1.62 (2.14) 1.87
Price Earnings Ratio (x) 32.18 -24.33 27.80

Kenanga Investment Bank is the sole principal adviser,managing underwriter, underwriter and placement agent for the IPO.

For those who are interested in MClean Technologies IPO you may subscribed at ATM machines or via Internet Banking.

The subscription period is opened until 28th April 2011 at 5pm. Tentative balloting date is on 3rd May while allotment date is on 9th May 2011. View MClean Technologies Bhd prospectus in Bursa Malaysia webpage.

MClean Technologies Bhd stock name in Bursa Malaysia is “MCLEAN”.

What do you think about MClean IPO? Are you going to subscribe?

Leave a Comment

  • insane 22nd April, 2011, 4:21 pm

    em.. I think they are not making a good revenue based on the table above

  • 22nd April, 2011, 4:25 pm

    Yes, agree with you. Maybe not worth to subscribe.

  • xy 22nd April, 2011, 5:13 pm

    not worth to subscribe?

  • 23rd April, 2011, 11:21 am

    xy, that is what I think. Other people may have different view.

  • Ipo lover 23rd April, 2011, 9:42 pm

    I think its a good buy bcause it comes with free warrant..

  • ing 24th April, 2011, 8:25 pm

    Come with free warrant?I heard ppl say that the warrany is very risky?

  • 25th April, 2011, 1:58 am

    ing, but you get it for free.

  • tan 8th May, 2011, 9:36 am

    yes warrant is free, and potential in profit making.

    • tottot 17th May, 2011, 3:52 pm

      understand the prices will be dropping further as they are under investigation with some incorrect data given before the listing

    • bird 20th May, 2011, 1:25 am

      Since only a couple of days and the price drop like shit, i would not buy even if it is 20 cents and since the company is under investigation for incorrect data given before the listing.
      Better run fast

  • 20th May, 2011, 5:05 am

    Bad news for those who hold shares for this company. How come, this kind of company manage to get listed.

  • KC 21st May, 2011, 11:56 am

    “the company is under investigation for incorrect data given before the listing.”

    Please provide a link to the false rumours.

  • bird 22nd May, 2011, 11:51 pm

    should ask the kuala lumpur stock exchange or the securities council to find out why the stock fell to such low level @38cts
    something not right and likely to fall further. Better run fast and cut loss. some even call the company name Mcdirty

  • 23rd May, 2011, 1:35 am

    Another reason why the price drop so much, on 10th May SINCO TECHNOLOGIES PTE LTD & Lim Jit Ming, Bryan both dispose 15 million shares each.

    • tottot 30th May, 2011, 2:50 pm

      this company should never be listed in the first place.

      Watch out for more news in the coming weeks.

      then the investors can let their money do the talking

  • kama 1st June, 2011, 11:17 pm

    price dropped to 0.29 cents. From financial report profit also negative. Better cut lost fast

  • tottot 2nd June, 2011, 8:21 pm

    one more link to read, so better run before it goes to below ten cents.

    Don’t tell me that i did not warn you/

    • bird 3rd June, 2011, 1:13 am

      Big Brother tottot, many thanks for your warning but we did not ran fast enough and in fact some of us lost their pants. We got con. Now we only hope those responsible will be punished in due course. Those who cheated will be punished by GOD. Sad today price dropped to 0.26 cents and look like will continue to drop farther.

  • tottot 7th June, 2011, 5:53 pm

    now at 0.23 and looks like it is still dropping.

  • llct 10th June, 2011, 5:28 pm

    i still holding the share dun no for wat…haiz

  • llct 10th June, 2011, 5:29 pm

    2day only 0.215 wat is this man…finish everthing finish

  • 10th June, 2011, 7:27 pm

    llct, too bad you still holding it.

    Good lesson for everyone, even IPO for a good company like UOADEV loss on the first day of listing. Imagine what happen to a company that does not have good financial statement.

  • kama 10th June, 2011, 8:57 pm

    ha ha ha all brothers and sisters, I have indicated in earlier message that price can fall to around 20 cents and today is 0.215 cents. If you are in the electronics and domputer related
    industries you can see in the propectus what the informations are forecast only.All of you kenna con. Pls ask what the security council and bursa is doing ?. Look like they kenna con
    wholesale or are they sleeping ?

  • llct 16th June, 2011, 9:13 am

    ya..kama i din saw ur massage early…is my mistake.u r right wat the security council n bursa doing….sleeping o ?????

  • llct 16th June, 2011, 9:15 am

    xox also very very bad. i take lesson on mclean so i din involve xox…bcoz takut same case again.

  • llct 16th June, 2011, 9:19 am

    take a of this ace market have to be careful. b4 invest must read the company background first cannot buta buta invest. dun chit by them again. this is my good lesson to learn. do smart dun be like security council…sleeping!!!!!

    • kama 27th June, 2011, 12:36 pm

      Rumours that the company will report lossess for the first half of the year

  • Bird 8th July, 2011, 9:20 pm

    Bernama website state that McLean is going to set up hard disk drive manufacturing. Can anyone provide more informations. We just wonder how can McLean set up disk drive manufacturing when they do not have any knowledge on disk drive manufacturing. Are they trying to probe up the share price by announcing such news which is likely to be untrue. Can the relevant authority verify the news announcement ?..

  • Bird 23rd August, 2011, 6:53 pm

    Very very sad price ended at 0.19 only after touching low 0.18. Can anyone help ……. To keep or sell or accumulate ?

  • matthew goh 16th September, 2011, 5:54 pm

    ha ha ha price at low of 0.16 cents

    • kama 19th September, 2011, 4:18 pm

      my friend 0.16 may not be the lowest. If you have this stock better to clear. IT may test the 0.15 cents very soon.

    • bird 26th September, 2011, 4:16 pm

      today at 0.135 cts. Where is the support level ?.

  • tottot 26th September, 2011, 10:56 pm

    looks like it would hit below 10 cts as they are having higher labor cost, and yet lower selling prices with no new models introduced fast enough