KUALA LUMPUR: Sunview Group Bhd, a participant in the renewable energy sector, says its fully-owned Vafe System Sdn Bhd has boosted its ownership in Winstar Aluminium Manufacturing Sdn Bhd to 30 per cent.
This is through the acquisition of a 10 per cent stake from Mestron Holdings Bhd for RM6.0 million.
Sunview executive director and chief executive officer Ong Hang Ping allows thr company to establish an economical supply chain for aluminium mounting structures procured locally for incorporation into the solar photovoltaic system.
"To address the cost increase, we are taking proactive measures through our partnership with Winstar.
"We are optimistic that a higher stake in Winstar will be advantageous, given Winstar's promising prospects in the future," he added.
Ong said with the solar industry experiencing rapid growth, it is essential for offsetting possible cost hikes, especially in light of anticipated increases in aluminium prices and freight charges.
"Our commitment remains steadfast as we strive to shape a cleaner, more eco-conscious energy landscape, fostering environmental responsibility and cultivating a sustainable future which contributes to the overall national growth agenda.
"The abundance of possibilities ahead fills us with confidence that, collectively, we can make a lasting and positive impact both locally and globally," Ong continued.
Winstar specialises in the production, fabrication, processing and sales of aluminium, metal and alloy.
It has a 21-year history in the aluminium manufacturing sector, with production facilities on a six-acre site in Ijok, Selangor.