1MDB FYE2014 Highlights
1MDB reports full year audited results for the 12 months ended 31 March 2014
1MDB announces its full year results for the twelve months ending 31 March 2014, another productive year for the group during which it secured a number of high quality energy and property assets for its growing portfolio.
The group registered a loss of RM665.3 million for the financial year largely attributable to higher finance costs of RM2.4 billion, compared with RM1.6 billion the previous financial year, as part of its strategy to grow the asset base. The value of the group’s asset base increased to RM51.4 billion, compared with RM44.6 billion the previous financial year, with borrowings increasing from RM36.2 billion to RM41.9 billion. Total revenue increased by 64%, from RM2.6 billion to RM4.3 billion, reflecting the quality of the portfolio of assets that is being built and the strength of revenue generation.
This high quality asset base is backed by strong cash and cash equivalents reserves of RM16.7 billion, with the business well positioned to fund significant capital expenditure over the next 12-24 months, and providing significant headroom to meet future funding requirements. Major areas of focus for capital expenditure in the next financial year include projects secured within the energy division and the continued development of TRX, Kuala Lumpur’s first dedicated financial district, within the group’s real estate division.
Since the end of the financial year in March 2014, 1MDB has also redeemed a total of over RM4 billion from its investments in Segregated Portfolio Companies registered in the Cayman Islands, with the balance expected to be fully redeemed by November 2014. A dividend of RM435 million, from these investments, has also been received subsequent to the financial year end March 2014 and will be accounted for in the next financial year ending March 2015.
Managing Director and Chief Executive Officer Mohd Hazem Abd Rahman said:
“We have maintained our focus on growing the company’s asset base and investment capacity. This has been driven by significant capital expenditure in the short-term, which has resulted in an expected loss this financial year due to an increase in borrowings, but we are confident that the high quality nature of the assets acquired and projects secured will drive the business forward and ensure its growth in the long-term.
1MDB explained that its accounts had been fully audited and signed by KPMG, and closed as of 31 March financial year. Deloitte was involved in the valuation and analysis of the portfolio, while Ernst & Young provided tax advice for 1MDB.
1Malaysia Development Berhad (1MDB) is a strategic development company, wholly owned by the Government of Malaysia. 1MDB was established to drive strategic initiatives for long-term economic development for the country by forging global partnerships and promoting foreign direct investment. 1MDB is currently involved several high-profile projects such as the Tun Razak Exchange, Tun Razak Exchange's sister project Bandar Malaysia and the acquisition of three Independent Power Producers.
The Sungai Besi airport land transfer took place on June 2011 will be developed as Bandar Malaysia, a mixed integrated development of commercial, residential and hi-tech green environment
1MDB is professionally managed and has a triple-tier check-and-balance system comprising a Board of Advisors, a Board of Directors and a senior management team. The Board of Advisors is chaired by the Prime Minister of Malaysia, Najib Razak.
1Malaysia Development Berhad operates as a strategic development company. The company identifies new ideas and sources of growth to propel economic transformation in Malaysia. It focuses on creating new sources of growth in various sectors, including energy, real estate, tourism, and agribusiness. 1Malaysia Development Berhad was formerly known as Terengganu Investment Authority Bhd. and changed its name in January 2009. The company was founded in 2008 and is based in Kuala Lumpur, Malaysia.
1Malaysia Development Berhad Key Developments
1Malaysia Development Reportedly Filled For IPO
Nov 17 14
1Malaysia Development Berhad filed IPO application last week to raise some $3 billion to mainly pay debt, sources said. "The listing would be in the first quarter of 2015, likely March," said one of the sources.
1MDB Reportedly Plans January Listing For Power Assets
Oct 7 14
1Malaysia Development Berhad (1MDB) seeks to list its power assets in January, 2015, three people with direct knowledge of the matter said. They stated that the paperwork for the initial public offering (IPO) will be filed later in October, 2014. “A listing will be in January if the application goes through," one of the sources said. 1MDB seeks to raise more than $3 billion in the IPO.
1Malaysia Development Mulls Listing Of Energy Assets
Jul 3 14
1Malaysia Development Berhad is looking to raise funds. The company is seeking to raise more than $3 billion through a stock market listing of its energy assets in Initial Public Offering (IPO). 1Malaysia Development stated that IPO proceeds will be used to fund growth plans and for the partial repayment of outstanding debt. The company also stated that Goldman Sachs was named adviser for the IPO, while Maybank and Ambank have been appointed as joint principal advisers.
5 comments:
APA Yg wzwh tak paham tidak paham tentang 1mdb?
dato wzwh kalau nak backing rosmah, eh najib skalipun boleh tak guna pakai cara cerdik skit.. ini tak. nak jugak pakai keadah Lemau jugak, letihlah korang nie... kata ada Master, awat main copy paste nie....
lain kalibelajor betul2... ape cer FGV? brp rega skrg... 2 lebih kan dari 5 lebih masa IPO kaaaannn.? jadi brp untong... ade 3 hinggit kan? bagos matematik korang kan..
ni nak ajor skit.. nak tau sykt tu okay ke tak, tgk laporan keewangan die... pong pang sana sini takde maknanya... itu kata2, kite nak tgk angka!! paham...
jadi ape cer dgn FGV? tak pernah2 rugi, tapi report paling baru FGV ngaku rugi 9juta... pandai tu..
jadi sama jugak dgn 1mdb... bukan saje rugi tapi sengaja lambat nak keluarkan loporan keewangan.. ape cer tu.. skrg ni dah masuk 3x tak bayor hutang kat maybank, mintak extension atas extension.. takde duit.
ape cer?
sebenarny inilah cerita org bangang...
ketua si bangang kat mane huh?....?..
oversea lagi?
Majoriti saham korporat seluruh dunia jatuh harga. Ini refleksi ekonomi dunia yang belum pulih sepenuhnya. Adakah korporat itu tidak cekap dan berkesan.
Korporat yang melabur besar dalam projek-projek besar perlu masa kerana initial outlay yang tinggi. Dulu era Mahathir pun banyak korporat yang kena bail out banyak kali tidak pula Mahathir berhenti. Mahathir minta Tajuddin jaga MAS so apa jadi selepas itu?
1MDB baru nak take off buat projek-projek bernilai tinggi kena tunggu lihat prestasi selepas projek-projek itu siap.
salam,
seingat bacaan, tak ada pulak orang kritik tang pelaburan. tapi yang banyak kritik tang beli benda mahal daripada harga pasaran yang dah hampir luput tarikh, ipp. kemudian berkenaan hutang dan benda yang dibuat. bila hutang tinggi,kemampuan syarikat membimbangkan, mungkin salah guna kuasa berlaku. dah ada isu, pegawai ditipu oleh rakan kongsi dari luar negara. dan banyak lagi. jika tengok baik setakat bagi peluang orang pi haji dan tindakan yang lain tu, tak banyak mana pun yang keluar berbanding puluhan, ratusan dan ribuan juta oleh 1mdb dalam mengurus syarikat ni. so bila audit sangkut, memang orang yg tahu ekonomi bertanya. rakyat biasa tak tahu apa pun, bila-bila masa boleh ditipu. kita dok harap kat orang yang bijak ekonomi la yang nak kaji dan tanya. kalu mereka tanya dan dijawab, kita pun boleh fikir yang mana betul atau soalan bodoh.
anon 1015am
ape ko cerita mitos nie... mana ko tau seluruh dunia jatuh harga... ko paham ke ape ko cite nie? ko compare camne nie? banyak betol saham kat luar tu outpeform market, banyak tau... dari segi rating memang market malaysia underperform bandingkan dengan jiran2 - tau tak? dah 2-3 thn tak perform klse.. org lain dah move up 30% masa boom, kite tak. jangan buat andaian harga minyak jatuh maka KLSE pun sama jatuh maka satu dunia pun jatoh.. bukan macam tu.
ko paham tak sejarah 1mdb nie.. pandai2 nak kata baru nak takeoff, ciritlah...
amenda nak tunggu project nak siap.. mana ade projecklah, semua main atas angin.. dari BOND, ke Hartanah sampailah ke beli IPP yg dah nak luput tarikh konsesi... 1mdb tak buat ape, tapi hutang mengunung? tau2 simpan duit kat caymen island... ader paham tak?
tak paham gak, pi panggil org yg dok cuti oversea tu balik!!!! suruoh die terangkan...
Kita semua kena anggap..dato wzwh ni bodoh..ikt dan dgr je apa orang cakap..tak timbang tara lansung antara fakta atau auta..janji blog dia ada isu yg nk dtulis sudah..pastu setiap penulisan semua mintak orang tibai..dkt profile tulis mcm..ada master..ada degree..bekas sana..bekas sini..ptt makin luas ilmu pengetahuan makin pandai la berkata2..ini tidak..makin dungu gayanya..
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