World

Trump junior says presidency costing family firm millions of dollars

NEW DELHI: Mr Donald Trump's presidency has cost the family firm "millions of dollars" in lost business, his son told an Indian newspaper during a visit aimed at drumming up sales of new luxury apartment complexes.

Mr Donald Trump Jr told the Times of India that the Trump Organisation was turning down global business opportunities because of his father's position.

"We are refraining from doing new deals while my father is in office," he said in an interview published yesterday.

"We are turning down deals worth hundreds of millions of dollars around the world."

Mr Trump Jr is in India to promote a series of luxury apartment developments being marketed under his father's name.

On Friday, he will have dinner with people who have bought into a development in Gurgaon, a finance and tech hub where major companies have offices, south-west of New Delhi.

The 47-storey towers will comprise 250 homes and are expected to be completed by 2023, with price starting from 55 million rupees (S$1.1m). The Indian developers say it has already clocked up sales worth nearly US$80 million (S$105m).

The US president has ceded control of the Trump Organisation to his sons, but has refused to divest his assets, sparking conflict of interest concerns.

Critics say this could allow the firm to profit from foreign governments eager to curry favour in Washington. - AFP

WORLD