Sunview Group Berhad through its wholly-owned subsidiary, Vafe System Sdn Bhd has increased its stake in Winstar Aluminium Manufacturing Sdn Bhd to 30.0%.
Executive director & chief executive officer HP Ong said, “We are thrilled to announce the increase in our stake in Winstar through the acquisition of a 10.0% stake from Mestron Holdings Berhad for RM6 million. The solar industry is undoubtedly booming. As aluminium related components account for approximately 10% of the total components, our stake in Winstar enables us to establish a cost-effective supply chain for aluminium mounting structures sourced from the local market for use in the solar photovoltaic system. This is crucial in mitigating potential cost increases, as both the aluminium price and freight charges are expected to increase in the near future. To address the cost increase, we are taking proactive measures through our partnership with Winstar. Furthermore, we are optimistic that a higher stake in Winstar will be advantageous, given Winstar’s promising prospects in the future.
The group said the possibilities ahead are bright and is seeking to collaborate to fill the market demands.
