Latest news with #RM497
Malaysian Reserve
7 days ago
- Business
- Malaysian Reserve
FSBM partners Australia's Monochrome to explore blockchain, digital asset ventures
FSBM Holdings Bhd, via wholly-owned unit FSBMI-Command Sdn Bhd, has entered into a collaboration agreement with Monochrome Corporation Pty Ltd, an Australian regulated financial services group specialising in digital asset infrastructure. The partnership will explore new business models and opportunities in Web 3.0, blockchain platform services, and digital asset infrastructure development. FSBM I-Command will serve as the technology solutions partner, while Monochrome will provide consulting and advisory services on regulated digital asset investment structures, exchange-traded fund (ETF) operations, and technology enablement for financial services. Monochrome is the investment manager of the world's first and only two-way in-kind ETF, with assets under management of about A$180 million (RM497 million). It is led by CEO Jeff Yew, former CEO and co-founder of Binance Australia. The collaboration follows Malaysia's push to become 'ASEAN's blockchain powerhouse', as endorsed by the Ministry of Digital during Malaysia Blockchain Week 2025 in July. A recent report estimates that Malaysia's tokenised asset market could reach US$43 billion (RM181.78 billion) by 2030. 'This collaboration represents not only a strategic milestone in our blockchain and digital systems road map, but also a key contribution to Malaysia's next-generation digital infrastructure,' said FSBM deputy executive chairman CK Cheong. 'Leveraging Monochrome's expertise in operating the world's first and only two-way in-kind ETF that directly holds Bitcoin, we look forward to combining our digital asset management expertise with FSBM's local market knowledge to jointly advance practical applications of asset tokenisation technology across the region,' Yew added. As of mid-2025, FSBM has formed strategic alliances with six technology companies from China, Taiwan, Singapore and Malaysia for projects in intelligent systems development, platform implementation and integrated data solutions.
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New Straits Times
16-07-2025
- Business
- New Straits Times
MARKET PULSE AM JULY 16, 2025 [WATCH]
KUALA LUMPUR: News on the latest moves on the stock and crypto markets. Bursa Malaysia opened lower on Wednesday, tracking Wall Street's mixed close amid United States inflation concerns and uneven bank earnings. The benchmark index unexpectedly fell below the 1,530 level yesterday, mainly due to aggressive selling late in the session. For today, the index is expected to trend within the 1,520 to 1,430 range. In the crypto market, Bitcoin fell to RM497,794 after Trump crypto bills were blocked before the vote. However, Ethereum rose to RM13,240, while Solana was up at RM693. That's it for Market Pulse.
BusinessToday
21-05-2025
- Business
- BusinessToday
Solarvest Posts Record FY25, Targets RM2 Billion Orderbook Amid Clean Energy Boom
Solarvest Holdings Bhd has capped off its third consecutive record-breaking financial year with an impressive set of results for the fiscal year ended March 31, 2025 (FY25), solidifying its position as a regional leader in the clean energy sector. The group posted a revenue of RM536.8 million, up 8% year-on-year (YoY) from RM497 million in FY24. More notably, its gross profit surged by 50.8% YoY to RM149.5 million, supported by stronger margins of 27.9% (up from 20% last year). This sharp rise in profitability translated into a 59.2% jump in net profit, which reached RM51.9 million, delivering consistent margin expansion over the past three years. 'This is more than just a strong financial performance, it's validation of our strategic direction and resilience in an evolving energy market. 'We are confident in scaling past a RM2 billion orderbook in FY26, as demand accelerates across the Corporate Green Power Programme (CGPP), Battery Energy Storage Systems and the upcoming LSS6 tender,' Solarvest Executive Director and Group Chief Executive Officer Davis Chong Chun Shiong said. He shared that as of March 31, 2025, Solarvest holds an unbilled orderbook of RM1.24 billion, which will be progressively recognised through FY26 and FY27. 'The momentum is just beginning,' said Chong. 'With the upcoming LSS5+ and LSS6 tenders and a potential rise in electricity tariffs this July, project feasibility under the Corporate Renewable Energy Supply Scheme is improving. That opens new doors for us to accelerate adoption in both utility-scale and commercial & industrial (C&I) segments,' Chong said, adding that the C&I segment alone is expected to generate around RM200 million in new projects annually, underscoring steady demand from corporates looking to decarbonise operations. Looking ahead, Solarvest is preparing for the launch of the Community Renewable Energy Aggregation Mechanism, a game-changing framework that will allow energy companies to generate electricity from rooftop solar systems and sell it directly to both commercial and residential users. This is expected to unlock a new frontier of decentralised, consumer-focused energy solutions. Related
