Standard Chartered faces US$2.7 billion lawsuit over alleged role in 1MDB fraud; bank ‘emphatically rejects’ claims

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TUE, JUL 1, 2025 Top Stories Standard Chartered faces US$2.7 billion lawsuit over alleged role in 1MDB fraud; bank 'emphatically rejects' claims [SINGAPORE] Liquidators seeking to recoup misappropriated funds from Malaysia's sovereign wealth fund 1Malaysia Development Berhad (1MDB) have initiated legal proceedings against Standard Chartered Bank in the High Court of Singapore, they said in a statement dated Monday (Jun 30). MAS proposes to improve complex product labelling and disclosures for investors [SINGAPORE] Investors in Singapore may soon get clearer disclosures and improved guidance for complex investment products if a set of amendments proposed by the Monetary Authority of Singapore (MAS) is eventually put in place. US dollar tumbles to 50-year low in H1, paving way for Asian FX gains [SINGAPORE] Major Asian currencies could be in for more gains through year-end, as the US dollar, hammered by tariff tensions, cloudy macro prospects and shifting bets on the monetary policy path, slumped 10.7 per cent in the first half of 2025. This is its worst half-year performance since 1973. HDB resale price growth slows further to 0.9% in Q2: flash data [SINGAPORE] Resale prices of Housing & Development Board (HDB) flats continued to rise in the second quarter of 2025, but at a slower pace of 0.9 per cent compared with 1.6 per cent in the first quarter. Judge greenlights S$810 million Thomson View en bloc sale [SINGAPORE] The High Court has granted a sale order for Thomson View's S$810 million collective sale on Tuesday (Jul 1), allowing the sale to proceed after it was disrupted by a stop order in March due to objections from a small group of owners. PM Wong to make introductory visit to Cambodia on Jul 2 [SINGAPORE] Prime Minister Lawrence Wong will visit Cambodia on Wednesday (Jul 2), a one-day trip that continues his introductory tour of the Asean member states since he was sworn in last May. Singapore shares move in tandem with Wall Street rally [SINGAPORE] Buoyed by the overnight Wall Street rally, Singapore shares rose on Tuesday (Jul 1), with about the top one-third counters by weighting on the blue-chip-gauge Straits Times Index (STI) all closing higher. PODCAST Market Focus Daily: Tuesday, July 1, 2025 Asian stocks rise on trade deal hopes; Trump threatens Japan with more tariffs over rice imports; US dollar tumbles to 50-year low in H1, paving way for Asian FX gains.

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