Sunvic Chemical's wholly owned subsidiary Yixing Yinyan has staved off legal action as guarantor to a 180 million yuan loan . 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.
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 continued to track higher, closing at 3,314.51, adding 26.34 points or 0.8 per cent.
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