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Good Morning
 
I am in Malaysia for the ANN board meeting. Among the topics that we will discuss will be the state of press freedom in Cambodia. As many know, our member paper the Phnom Penh Post was just bought out, so hopefully, we will have a chance to address what that means for the paper going forward.
 
 
   
Cod Satrusayang
ANN Managing Director
 
 
  Malaysia's 1mdb unable to repay its debts  
 
     
 
  1Malaysia Development Bhd (1MDB) is insolvent and unable to repay its debts, two of the company's directors have told the Finance Ministry. The revelation was made at a meeting between the Finance Ministry and 1MDB directors Norazman Ayob and Kamal Mohd Ali.

"The directors of 1MDB confirmed that 1MDB was insolvent and unable to repay its debts," Finance Minister Lim Guan Eng told reporters on Wednesday (May 23) after the meeting. "The former CFO (chief finance officer) Azmi Tahir had also written to the ministry in March to state that 1MDB will not be able to service its interest due in April and May 2018."

Kamal also called the US$940mil (RM3.743bil) worth of investment "units" held with Singapore's BSI Bank and US$1.56bil (RM6.21bil) worth of overseas investment "funds" belonging to 1MDB Global Investments Limited as "scams". "These investments are worth purportedly some RM9.8bil, which if redeemed, would be more than sufficient to meet 1MDB's financial obligations for the next few years," said Lim.
 
 
 
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Corruption charges are revenge measures; Nawaz tells court
 
   
 
Nawaz Sharif on Wednesday claimed that the National Accountability Bureau (NAB) references against him are byproducts of him filing a high treason case against former military dictator Pervez Musharraf.
 
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Automakers ask for help from Vietnamese government
 
   
 
Auto businesses are concerned about Vietnam's future policy orientation with regard to the auto industry, which they think will affect their business strategy.
 
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Beijing calls for greater G20 role in world affairs
 
   
 
State Councilor and Foreign Minister Wang Yi emphasized on Monday the importance of upholding multilateralism amid rising anti-globalization sentiment and protectionism, and he called for a bigger role for the G20 in global governance.
 
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  North Korea says nuclear sites could be dismanted on Thursday  
 
     
 
  A North Korean official said Wednesday that, weather permitting, the country will soon dismantle its nuclear test facilities. "If the weather conditions are good tomorrow, (we) can do (the work)," the official told visiting South Korean journalists. The eight reporters and members of television crews, selected for pool coverage of the Punggye-ri event, arrived in the North's eastern city of Wonsan earlier in the day.

The North said in mid-May that it would close all of the underground tunnels and related facilities at the nuclear site in Kilju, North Hamgyong Province, by explosion between May 23-25. Also invited are American, Chinese, Russian and British news outlets. It has not yet announced the date or a detailed schedule of the planned dismantling. The foreign visitors left a hotel in Wonsan to board a special train bound for Punggye-ri.
 
 
 
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  The Asia News Network (ANN) is one of the world’s biggest media alliances.
Founded in 1999 with seven members, ANN now comprises 22 leading media, mostly leading national English-language daily, from South, Southeast and Northeast Asia. ANN’s main activities are daily exchanges of news, photos and a host of other collaborations.
 
 
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