PUTRAJAYA: 1Malaysia Development Berhad (1MDB) has confirmed that it is unable to service its debt obligation which is due this May 30. Lim met with 1MDB chief executive officer Arul Kanda Kandasamy and two of its directors, Datuk Norazman Ayob and Datuk Kamal Mohd Ali today. Arul Kanda was accompanied by former 1MDB chief financial officer Azmi Tahir and former 1MDB legal adviser Ivan Chen. Following that, Lim said he had instructed Arul Kanda to brief him and clarify if 1MDB was able to pay the sum due next week. "Both 1MDB directors confirmed that 1MDB is ‘insolvent’ and can't pay its debts.

Source: New Strait Times May 23, 2018 11:00 UTC