KUALA LUMPUR, May 27 – Prime Minister Datuk Seri Najib Razak told the Dewan Rakyat today that the despite national sovereign fund 1Malaysia Development Bhd’s (1MDB) total assets in the financial year ending March 31, 2014 stood at RM51.4 billion. Najib, who is also Finance Minister, said the assets were divided into two parts, namely current assets, which are valued at RM19.5 billion and non-current assets, valued at RM31.9 billion. The debts mounting at RM41.9 billion.
Finance Minister reply to the Dewan Rakyat today about the value of the 1MDB assets is supported by the relevant assessment report or book value. Meanwhile, it also has been confirmed by independent auditors (Deloitte). The 1MDB has solid asset foundations that included Tun Razak Exchange development land and Bandar Malaysia in Kuala Lumpur. It also included a 234-acre land parcel in Penang which 13 power plants and desalination facilities in five countries.
“We have declared that the Finance Ministry company would not be borrowing any money to purchase and increase assets but instead focus on its current businesses as well as formulate a plan to profit from either sales or development of its current assets which was approved by the board of directors, on Jan 5,” said Prime Minister Datuk Seri Najib Razak.
