HONG KONG (May 24): Malaysian state fund 1MDB’s dollar bonds due 2023 dropped about 2 cents to around 90 cents on the dollar on Thursday, traders said.

* That comes after Malaysian Finance Minister Lim Guan Eng said the previous day that directors of 1MDB have confirmed that the company is "insolvent" and unable to repay debts that could amount to almost $7 billion over the next five years.