A woman walks past a 1 Malaysia Development Berhad (1MDB) billboard in Kuala Lumpur in this January 27, 2014 file photo. According to reports, 1MBD booked a net loss of RM665.36 million in its previous financial year. — Reuters pic

KUALA LUMPUR, Nov 6 — Sovereign wealth fund 1Malaysia Development Bhd (1MBD) booked a net loss of RM665.36 million in its previous financial year, a local daily reported today citing a filing with the Companies Commission of Malaysia (CCM).

According to a report by The Star, 1MDB’s filing showed a loss before tax of RM668.55 million against reported revenues of RM4.258 billion.

The filing was made after the sovereign wealth fund closed its books yesterday, some seven months after the end of its financial year in March 31, 2014.

The loss was lower, however, than that registered in its previous financial year, when it splashed RM778.243 million worth of red ink on its accounts.

According to 1MDB, its non-current assets now stood at RM31.879 billion, while current assets were at RM19.529 billion. It continues to hold a total of RM48.5 billion in both non-current and current liabilities.

Earlier this week, DAP MP Tony Pua had questioned 1MDB over the late filing of its accounts, saying this raised concern that not all was well with the sovereign wealth fund.

The fund has been dogged by negative publicity over massive fees paid for bond sales, the near one-year delay in publishing its financial accounts, and most recently, changing auditors.

1MDB, the brainchild of Prime Minister Datuk Seri Najib Razak, was set up to help drive Putrajaya’s strategic investments.