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Daily Debrief: What Happened Today
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 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.
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 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'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.
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.
- Sembcorp Industries posts 25% fall in Q1 profit, sees protracted oil & gas downcycle
- Zhongmin Baihui's sales hurt by long winter, profit drops 10%
- Nera posts 33% fall in Q1 profit
The STI Today
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.