Winstar Capital Sees Sales Growth In 2025 By Leveraging China's Tax Policy Shift
KUALA LUMPUR, Dec 19 (Bernama) -- Aluminium products manufacturer Winstar Capital Bhd sees sales growth in 2025 by leveraging China’s recent tax policy shift.
Its non-independent executive director and chief executive officer, Vincent Chua Boon Hong, said the company currently holds 2.7 per cent of Malaysia’s RM3.2 billion aluminium market and sees significant potential in expanding its presence.
“The company is optimistic about the future, with growth anticipated in both the aluminium extrusion and solar energy markets in 2025.
“The recent policy shift in China, where they reduced the tax refund from 13 per cent to zero, will lead to an increase in Chinese products entering the Malaysian market, and this will definitely benefit us,” he said in a press conference after Winstar’s Listing on Bursa Malaysia’s ACE Market today.
Vincent said a key opportunity for Winstar lies in the upcoming Large Scale Solar 5 (LSS5) project, which is expected to be announced next month.
“The LSS5 project, expected to span three to four gigawatts, will involve large solar farms across Malaysia.
“Winstar’s role in this project will focus on supplying aluminium mounting structures, which are crucial for solar panel installations,” he said.
Winstar opened at 49 sen during its debut in the ACE Market of Bursa Malaysia today, marking a 14 sen premium from its initial public offering (IPO) price of 35 sen.
The stock saw 4.77 million shares traded at the opening bell.
“From the proceeds of RM19.79 million raised from the IPO, we plan to utilise RM9.55 million or 48.25 per cent to purchase new aluminium extrusion press machines and equipment for its new manufacturing plant.
“Whereas, RM6.24 million (31.54 per cent) will be used for general working capital and RM4.00 million (20.21 per cent) to pay off listing expenses,” it said.
The company added that post listing, Winstar targets to distribute 30 per cent of its annual audited consolidated profit after tax attributable to shareholders as dividends, subject to the group’s business performance and cash flow requirements to reward its shareholders.
-- BERNAMA