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MARC Ratings has assigned a preliminary AIS/Stable rating to Winstar Capital Bhd’s proposed Islamic Medium-Term Notes (IMTN) Programme of up to RM300mil
Winstar looks interesting with its new capacity coming onstream. Demand seems to be holding up, and with Chinese aluminium becoming less competitive, more orders could shift back to local players. If the new lines ramp up smoothly, earnings could have more room to grow.