Wednesday 2 March 2016

Is MClean so clean .....? (2)

MClean was queried by Bursa, and replied, two snippets:

The Letter of Demand [from Petronas] was received on or about 22 February 2016.

MClean did not explain why they waited one full week to inform its shareholders, to me it looks like material information, getting a letter of demand from a large corporate, the claim amount being about 3.5 times the cash in the company.

We are confident that the medium to long-term impact will not be adverse to the Group.

Time will tell.

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