Sunview Group Bhd, a major participant in the renewable energy sector, said its fully-owned subsidiary Vafe System Sdn Bhd has acquired a 10% stake from Winstar Aluminium Manufacturing Sdn Bhd for RM6.0 million, increasing the current stake to 30%.
Sunview Group CEO HP Ong said the increase in stake in Winstar would allow Sunview to set up a cost-effective supply chain for sourcing aluminum mounting structures for solar photovoltaic systems from the local market amid the booming solar industry.
Sunview Group and Vafe System completed an acquisition of the 20% stake in Winstar Aluminium Manufacturing for RM12.0 million in September this year.
Sunview Group acquires 10% stake in Winstar Aluminium Manufacturing
26 Dec 2023 16:09 reported by Joy Liu
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