KUALA LUMPUR (Sept 21): Winstar Capital Bhd (KL:WINSTAR) proposes to issue a RM300 million sukuk to finance investments and land acquisition, as well as to refinance existing loans.

The group, which lodged the sukuk murabahah programme with the Securities Commission Malaysia on Monday, said proceeds will also be used to defray issuance expenses and for working capital.

Winstar Capital said the programme carries a tenure of 30 years, with the first issuance expected within 90 business days of lodgement.  

Credit rating agency MARC Ratings Bhd has assigned the programme a preliminary rating of A1/Stable.

MBSB Investment Bank Bhd and MBSB Bank Bhd are the joint principal advisers, joint lead arrangers, joint lead managers and shariah adviser for the programme.

Winstar Capital, which debuted on Bursa Malaysia’s ACE Market in December 2024, operates in the aluminium manufacturing and solar energy sectors. The group produces extruded aluminium profiles, ladders and building materials for the domestic and regional markets.

The company's renewable energy division operates through its subsidiary, Winstar Solar Sdn Bhd, and is backed by corporate shareholder Sunview Group Bhd (KL:SUNVIEW).

This division produces aluminium solar photovoltaic (PV) mounting structures and provides engineering, procurement, construction and commissioning (EPCC) services for solar installations.

For the second quarter ended June 30, 2026, Winstar Capital’s net profit rose 3.4% to RM3.69 million from RM3.57 million a year earlier.

The group’s revenue increased by 33.1% to RM81.42 million compared to the RM61.18 million the previous year.

As of the end of June, the group’s borrowings stood at RM160.6 million against a cash and bank balance of RM5.4 million.

Winstar Capital shares closed half a sen, or 0.76%, lower at 65.5 sen on Monday, valuing the company at RM204.4 million.