Sunday, October 19, 2008

Ask MAS for advice to sort out this type of problem

Dear Mr Tan,
I need your advice as I am thoroughly confused as to how and to whom tolodge my complaint. I hold a Minibond Series 7. It was issued by a Personal Financial Manager at Hong Leong Finance, yet the receipt showed DMG & Partners and the Note Trustee to the holders of Minibond Notes is HSBC.

As far as I was concerned, I thought I had simply invested my money with Hong Leong Finance with a quarterly payout of 4.25%. I was told itwas very safe and the worse case scenerio was that the quarterly payout would be less than 4.25% or that the minibond would be recalled andthat the principal sum would be returned. I was surprised to have received the receipt from DMG & Partners, let alone learn that the investment was linked to Lehman Brothers.

REPLY
I suggest that you write to MAS and ask them. You can copy to me.
Posted by at

1 comment:

Anonymous said...

Dear Mr Tan
I was misled into buying minibond series 7 by the staff at Hong Leong finance.Now then I realised that the receipt and interest I received are also issued by DMG and partners, although it was posted to me by Hong Leong Finance.
I've complained to CEO of HL and Chairman MAS 2 weeks ago.Both parties had repied.HL just emailed me a set of questionaires to complete before I can go for an interview.

Mr Tan, thanks a million for helping the investors.

To the investor who also received from DMG and Partners, please contact me at
gemini43@gmail.com.sg

October 19, 2008 9:07 AM

Post a Comment

Subscribe to: Post Comments (Atom)

Blog Archive