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Sovereign Wealth Funds Briefing - Categorized | Financials, Performance

1MDB net profit up 74pct to RM778mln

Posted on 17 April 2014

1Malaysia Development Bhd, the government’s sovereign wealth fund, saw its net profit surge 74% to RM778.24 million for the year ended March 31, 2013 from RM44.72 million a year before. Revenue in the same 12-month period grew four times to RM2.59 billion from RM633.2 million previously.
However, its liabilities, basically its debts or obligations, ballooned more than five times to RM42.3 billion from RM8.4 billion as at the end of the financial year March 31, 2012. 1MDB’s balance sheet showed that its non-current liabilities, that could include long-term borrowing, bonds payable and long-term lease obligations, almost quadrupled to RM30.6 billion from RM7.8 billion previously………………………………………..Full Article: Source


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