1MDB more news

Fresh from The Edge:

KUALA LUMPUR: 1Malaysia Development Bhd (1MDB), which previous financial year’s earnings was boosted by property revaluation gains, slipped into the red with net loss of RM665.36 million for the year ended March 31, 2014. 

The electronic filing does not reveal the factors that have dragged the government’s investment fund into the massive losses of over RM660 million. 

Last year (FY2013), 1MDB would have posted RM1.85 billion losses if not for RM2.7 billion worth of property revaluation gains. Its debt stood at just over RM36 billion as at end-March 2013

Not much to say here.  Probably some of those losses is due to payment to Goldman Sachs.  LOL.

I don't know how 1MDB can really be defended.  I do remember reading Najib saying that this is a professional company with professional managers with track records.  Defending this is like trying to get off a sinking ship.  It now looks like another PKFZ in the making.