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SINGAPORE authorities are probing "complex and layered transactions" with "cross border elements" involving many shell companies in their investigations into 1Malaysia Development Berhad (1MDB), according to prosecutors here.

Singapore probing complex transactions involving 'many shell companies' in 1MDB case

Singapore authorities are probing "complex and layered transactions" with "cross border elements" involving many shell companies in their investigations into 1Malaysia Development Berhad (1MDB), according to prosecutors here.


Singapore set to pick military helicopters as arms spending rises

Singapore will soon pick the winner of a US$1 billion tender for military utility helicopters, the first of several lucrative deals the island nation is pursuing as it modernises its air force and navy amid rising tensions in the region.


IEV unit bags five new contracts worth US$2.9m

Catalist-listed IEV Holdings' wholly owned subsidiary, IEV International, has landed five new contracts valued at US$2.9 million under its marine growth control business unit to supply its proprietary marine growth preventer products.


Malaysia to dissolve Najib-led 1MDB advisory board amid probes

Malaysia will dissolve the advisory board of a state-owned investment company headed by Prime Minister Najib Razak as the government accepts the resignation of the board amid global investigations into allegations of money laundering and embezzlement.


China cuts yuan fix in biggest move since devaluation

China's central bank on Wednesday fixed the yuan currency nearly 0.60 per cent weaker against the US dollar, according to the national foreign exchange market, the biggest downward move since devaluing the unit in August last year.


Trump Indiana win boosts his claim to be presumptive nominee

Real-estate developer Donald Trump won the Republican presidential primary in Indiana on Tuesday, dealing a devastating blow to Ted Cruz's effort to stop him from becoming the party's presumptive nominee before the national convention in July.


Corporate Earnings


The STI Today

Singapore shares close lower with STI down for 8th straight session

Eight days and counting - the Straits Times Index (STI) on Wednesday dropped for the eighth consecutive session, losing 38.13 points or 1.4 per cent to 2,773.07. The selling was fairly spread out within the index, with Singtel, Wilmar and OCBC the largest losers. Turnover at 898 million units worth S$1.23 billion was relatively heavy as it surpassed the S$1 billion average of the past week. Excluding warrants, there were 102 rises versus 276 falls.