By KINIBIZ
For 1Malaysia Development Bhd (1MDB), paper profits from revaluing its properties were not enough to offset higher expenses and borrowing costs in the financial year ended March 2014 (FY14), marking its first full-year loss in four years. The state investment fund booked losses despite revenue rising by two-thirds for FY14. Billions in borrowed money parked in the Cayman Islands and other locations gave a return on investment of only 3.3%, with the average interest rates that 1MDB was earning through its nearly RM4 billion deposits with licensed banks only coming to 0.68% per annum. 1MDB also paid up to US$250 million (RM833 million) to Aabar Investments PJS to have an unexercised option over its power assets cancelled.
Issues
#1
State investment fund 1Malaysia Development Bhd (1MDB) booked full-year losses for the first time in four years despite revenue rising by two-thirds for the 2014 financial year. According to ...
#2
1MDB’s paper gains from property revaluation were not enough to offset higher costs and expenses, but 1MDB says the losses were expected given its strategy to grow its assets base.
#3
State investment fund 1Malaysia Development Bhd (1MDB) saw its employee costs grow by 40% year-on-year in the financial year ended March 2014 (FY14) despite directors seeing their pay trimmed ...
#4
The investment fund has paid up to US$250 million (RM833 million) to Aabar Investments to have an unexercised option over its power assets cancelled
#5
The average interest rates that 1MDB was earning through its nearly RM4 billion deposits with licensed banks only comes to 0.68% per annum. A rough calculation places 1MDB’s gain from interest on ...
#6
Billions in borrowed money parked in the Cayman Islands and other locations gave a return on investment of only 3.3% last year
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