Sunview Group Bhd is set to dispose of its 22.4% stake in Winstar Capital Bhd for RM30.1 million after shareholders approved the transaction at an EGM.
The renewable energy (RE) group will sell 70 million Winstar shares at 43 sen each, paving the way for the disposal to proceed under the respective share sale agreements.
Group Executive Director and Group Chief Executive Officer HP Ong said the disposal is expected to strengthen cash flow, reduce gearing and provide greater financial flexibility to support the group’s expanding RE business.
“Looking ahead, our focus remains firmly on strengthening our core RE business, particularly our engineering, procurement, construction and commissioning (EPCC) capabilities and solar asset ownership portfolio,” Ong said.
Sunview is principally involved in RE EPCC activities, and said the proceeds will support its focus on growing its core solar and renewable energy operations.
