Former directors say 1MDB can't pay its debts, RM9.8bil of 'investments' are scams (updated)

Finance Minister Lim Guan Eng giving a press conference on 1MDB at the ministry building in Putrajaya on Wednesday.

PUTRAJAYA: 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 Datuk Norazman Ayob and Datuk Kamal Mohd Ali.