Daily Debrief: What Happened Today

JLC Advisors managing partner Jeffrey Ong denied bail, slapped with 13 more forgery charges

JLC Advisors managing partner Jeffrey Ong Su Aun tried to leave for Malaysia on May 13 via the Tuas Checkpoint after he was pressed by partners of his law firm into accounting for unauthorised withdrawals of clients' money, the Court heard on Thursday.

Temasek's Pavilion Energy acquiring Iberdrola's portfolio of LNG assets for 115m euros

Temasek-owned Pavilion Energy is acquiring Spanish energy giant Iberdrola's portfolio of liquefied natural gas (LNG) assets for 115 million euros (S$176.2 million), subject to adjustments.

Sunseap gets S$43m green loan to put solar power systems on rooftops in Singapore

Local renewable energy firm Sunseap has secured a S$43 million green loan to install solar power systems on rooftops across Singapore that combined, can generate enough energy to power more than 9,600 four-room HDB flats for one year.

ST Engg, Airbus JV converting A321 passenger jet into cargo freighter for US customer

ST Engineering's joint venture with Airbus, Elbe Flugzeugwerke (EFW), has secured a letter of intent from US-based aircraft leasing company BBAM for an A321 converted freighter.

Noble Group to take stake in Australian rare earths developer Arafura

Commodities trading firm Noble Group is set to take a small stake in ambitious Australian rare earths developer Arafura, raising its exposure to strategic minerals critical to high-tech industries and electric vehicles.

Sunvic Chemical unit staves off legal action as guarantor to 180m yuan loan

Sunvic Chemical's wholly owned subsidiary Yixing Yinyan has staved off legal action as guarantor to a 180 million yuan loan (S$35.4 million). It entered into a new supplemental agreement, on June 13, with borrower Jiangsu Donglai Real Estate Development and lender Yixing Futao Credit, the chemical products manufacturer said on Thursday.

The STI Today

Singapore shares gain 0.8% as Fed confirms rate cut possibility

With the conclusion of the two-day US Federal Reserve meeting for June, investors got confirmation of what they were expecting - the door for rate cuts in the following months was open. This sent equity markets higher. Singapore's Straits Times Index (STI) continued to track higher, closing at 3,314.51, adding 26.34 points or 0.8 per cent.