Monday, October 06, 2008

Securities Investors Association of Singapore (SIAS)

I like to ask investors to approach the Securities Investors Assocation of Singapore (SIAS) and see if SIAS is able to help take up this matter collectively.


Anonymous said...

Come to think of it I was wondering why SIAS is being silent on this matter since the outbreak of this MINIBOIND saga. Are they not supposed to represent the ordinary investors?

Anonymous said...

Both Mr. Tan and myself don't think Sias would want to take up the issue possibly because of a conflict of interest (my latest email to Mr. Tan).

Sias was born out of another crisis, albeit a different frequency -- The CLOB incident where many investors could have pledged their CLOB shares with their banks for financing.

Thus, the banks are known to be very supportive of Sias.

On the other hand, the current High 5 and Minibond issue is smack in the face of the banks.

Will Sias feel comfortable reversing the canon's head against its allies, the banks?

A new association has to be formed and should be formed by the affected parties (i.e. victims of the event).

And this has to be done fast before an opportunist take the opportunity to "represent" the victims posing further losses in the form of professional advisory or legal fees when the legal channel is clearly not in favour of the victims.

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