1MDB records RM665.4mil losses on higher finance costs

PETALING JAYA: 1Malaysia Development Bhd (1MDB) slipped into a net loss of RM665.36mil for its financial year ended March 31, 2014, despite seeing its revenue rising by more than 60% from the preceding year.

In a statement, it said the government investment fund attributed its losses to higher finance costs of RM2.4bil, compared with RM1.6bil in the preceding year, due in part to the group’s strategy of growing its asset base.