Latest news with #RM242mil
The Star
17-06-2025
- Business
- The Star
Trump pocketed over US$57mil from crypto coin sales
World Liberty Financial had issued 100 billion tokens, of which some 22.5 billion were allocated to the Trump-affiliated company DT Marks Defi. — AFP NEW YORK: US President Donald Trump pocketed more than US$57mil (RM242mil) from token sales by the crypto venture he and his sons helped launch last year, according to federal financial disclosure forms released by the White House. The more than 230-page document issued by the Office of Government Ethics, dated Friday, lists the US president's holdings including stocks, dividends, real estate and investment portfolios. It showed that Trump, who during his first presidential election campaign in 2016 broke with the long tradition of candidates publishing their income tax returns, raked in US$57.4mil from the sale of World Liberty Financial tokens. Trump and his sons helped launch the cryptocurrency investment and lending platform ahead of last year's election, raising conflict of interest concerns especially after he went on to win. He lent his name to this new company and launched a "Trump" memecoin in January, just hours before his inauguration. World Liberty Financial had issued 100 billion tokens, of which some 22.5 billion were allocated to the Trump-affiliated company DT Marks Defi. Once hostile to the crypto industry, Trump has since returning to power enthusiastically embraced the sector, taking significant steps to clear regulatory hurdles and making large-scale investments. Trump has, among other moves, appointed crypto advocate Paul Atkins to head the Securities and Exchange Commission (SEC). He has also established a federal "Strategic Bitcoin Reserve" aimed at auditing the government's bitcoin holdings, which were mainly accumulated by law enforcement from judicial seizures. Cryptocurrencies now have "a champion and an ally" in the White House, Vice President JD Vance said last month during a bitcoin conference in Las Vegas. The document also provides an overview of the royalties that Trump has received through the sale of branded products and licensing agreements around the world. For instance, he earned US$2.8mil (RM12mil) from watches and US$2.5mil (RM10.7mil) from perfumes and sneakers. His Mar-a-Lago club in Florida also generated over US$50mil (RM212.3mil) in income for the president. Trump's golf courses around the world also helped pad his coffers, allowing him to pocket US$29.1mil (RM124mil) from the one in West Palm Beach. The president also received a monthly retirement payment of US$6,484 (RM 27,527) from the Screen Actors Guild (SAG). – AFP
The Star
10-06-2025
- Business
- The Star
Solarvest continues to make hay as the sun shines
The company's unbilled order book quintupled from RM242mil in the fourth quarter of FY24 to RM1.2bil in 4Q25. PETALING JAYA: Solar energy company Solarvest Holdings Bhd is poised to scale new heights as the group's stellar results for its financial year 2025 ended March 31, (FY25) sets the stage for a stronger FY26, underpinned by a five-fold jump to RM1.2bil in unbilled orders, analysts say. Hong Leong Investment Bank Research (HLIB Research) said: 'We expect another record year for Solarvest going into FY26, backed by strong order book growth and commissioning of assets towards the later part of FY26.' The company's unbilled order book quintupled from RM242mil in the fourth quarter of FY24 (4Q24) to RM1.2bil in 4Q25. 'We believe execution of Corporate Green Power Programme contracts should kick into higher gear in FY26,' the research house added HLIB Research also anticipated the commencement of projects under the fifth phase of the government's Large Scale Solar (LSS5) initiative could lift Solarvest's engineering, procurement, construction and commissioning revenue towards 2H26. Solarvest's management is guiding for further contract wins from LSS5 in the near term, the research house noted. According to HLIB Research, Solarvest has consistently maintained a minimum 30% market share in past phases of the LSS initiative. Separately, LSS6 bidding is set to commence in the second and third quarters of this year, and the research house thinks the available quotas will be sizeable, ranging between two gigawatt and four gigawatt. 'As such we reckon that Solarvest management's guidance of surpassing RM2bil in unbilled orders in FY26 is conservative, looking at the existing pipeline and its stellar track record,' said HLIB Research. The research house maintained a 'buy' call on the stock with a target price of RM2.25 per share.
