Indonesia is investigating reports that US$1.4 billion held by Standard Chartered Plc in Guernsey, mainly on behalf of Indonesian clients, was transferred to Singapore just before the island moved to new tax transparency rules. According to Bloomberg, The assets — held in its Guernsey trust unit for mainly Indonesian clients, some of whom had links to the military — were moved in late-2015 before the Channel Island adopted the Common Reporting Standard, a global framework for the exchange of tax data, at the start of 2016, the people said. Standard Chartered shuttered its operations on the island last year.