PKR's Pandan MP Rafizi Ramli today raised further concerns about 1Malaysia Development Berhad (1MDB)'s financial performance after pointing out that the firm’s debts had now reached RM42 billion, according to its latest financial statement.

"The net loss of RM665 million is such a huge loss considering our economic situation," he said.

"1MDB's financial performance is much worse than initially expected," he added.

He also criticised the company for re-valuing its assets that enables that net loss to seem less than the actual amount.

"In 2013, 1MDB's assets had been revaluated and an increase of RM 2.74 billion was marked as profit. If not for this, 1MDB would have registered a loss of RM 1.96 billion," he said.

"In 2014, 1MDB had revaluated its assets and registered an appreciation value of RM 897 million. If not for this, it would have registered a RM 1.56 billion loss," he added.

He also said that 1MDB's operating expenditure and interest payments had increased to RM 3.76 billion, which is a 52 percent increase from the previous year's financial statement, and almost equivalent to the RM 4 billion allocation for the Bantuan Rakyat 1Malaysia (BR1M) program.