KUALA LUMPUR: The 1Malaysia Development Board (1MDB) has been making profits from 2010 to last year but recorded losses this year, Deputy Finance Minister Datuk Ahmad Maslan said.

He said 1MDB profits in 2010 stood at RM424 million, 2011 was RM544 million and RM778 million last year. However, it recorded RM665 million in losses this year.

“1MDB is not only helmed by professionals who know what they’re doing but it also has credible international advisers on its board.
It is a competitive and forward-moving company with 14 power plants and one incinerator plant project.

“On its board of directors are people like LVMH (Moet Hennessy Louis Vuitton) group chairman and chief executive officer Bernard Arnault and CITIC Group of China chairman and president Chang Zheming. The company is in good hands with good assets to its credit.

“Pakatan members should be looking at it from a positive angle,” Ahmad said at Parliament lobby yesterday.

He dismissed as untrue the claim that 1MDB’s liability was higher than its assets. He said 1MDB had spent RM382 million on corporate social responsibility (CSR) projects since its inception.

“It sponsored 2,300 haj pilgrims, amounting to RM28.2 million since 2011, spent RM14.5 million in 2011 on Orang Asli programme Nadi Kasih to help rebuild old houses
and for the poor, it spent RM90.5 million.

“1MDB will continuously support its CSR projects despite the losses made this year,” he said.