KUALA LUMPUR: MClean Technologies Bhd is acquiring a 100 per cent stake in Singapore-based Sonic Clean Pte Ltd for SGD2.02 million from Unisteel Technology Ltd and Medi-Flex Pte Ltd.
Unisteel owns 63.16 per cent stake in Sonic Clean while Medi-Flex owns the remaining 36.84 per cent.
In its filing to Bursa Malaysia, Mclean said its indirect unit, MClean Technologies Pte Ltd entered into a sales and purchase agreement with Unisteel and Medi-Flex on June 30.
The company said the proposed acquisition will enable MClean Group to expand its existing business activities.
The proposed acquisition will be financed through internally generated funds, it added.
“The proposed acquisition is not expected to have a material effect on the earning per share, net assets, share capital, substantial shareholders’ shareholding and gearing of the group for the financial year ending December 2017.
“Barring unforeseen circumstances, the proposed acquisition is expected to contribute positively to the group’s earnings and net assets in the future,” it added.