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Exclusive: Adviser to Jailed HK Tycoon Jimmy Lai Says Apple Daily to Shut
within Days

Reuters

   HONG KONG - Hong Kong pro-democracynewspaper Apple Daily will be forced
   to shut "in a matter ofdays" after authorities froze the company's
   assets under asweeping national security law, an adviser to jailed
   tycoonJimmy Lai told Reuters on Monday.

   Mark Simon, speaking by phone from the United States, saidNext Digital,
   publisher of the popular Hong Kongnewspaper, will hold a board meeting
   on Monday to discuss how tomove forward.

   "We thought we'd be able to make it to the end of themonth," Simon
   said. "It's just getting harder and harder. It'sessentially a matter of
   days."

   His comments signal the closure is imminent even after AppleDaily said
   on Sunday the freezing of its assets had left thenewspaper with cash
   for "a few weeks" for normal operations."

   The news comes two days after chief editor Ryan Law, 47, andchief
   executive Cheung Kim-hung, 59, were denied bail afterbeing charged with
   collusion with a foreign country.

   Three other executives were also arrested last Thursday when500 police
   officers raided the newspaper's offices in a casethat has drawn
   condemnation from Western nations, global rightsgroups and the chief
   U.N. spokesperson for human rights.

   The three have been released on bail.

   Simon told Reuters it had become impossible to conductbanking
   operations.

   "Vendors tried to put money into our accounts and wererejected. We
   can't bank. Some vendors tried to do that as afavor. We just wanted to
   find out and it was rejected," hesaid.

   The newspaper has come under increasing pressure since ownerand staunch
   Beijing critic Jimmy Lai, who is now in jail, wasarrested under the
   national security law last August and hassince had some of his assets
   frozen.

   Three companies related to Apple Daily are also beingprosecuted for
   collusion with a foreign country and authoritieshave frozen
   $2.3millionof their assets.

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