Monetary Authority of Singapore
82 individual holders of Pinnacle Notes arranged by Morgan Stanley Asia (S) Pte Ltd have co-signed a self-explanatory Plea to MAS on their plight in their investment in the said Notes. On their behalf, I am handing over herewith the Plea together with their signature sheets and details as stated therein.
We hope that MAS will respond positively to our Plea as we are at our wit’s end as to how to protect whatever good values that remain in our investments. We have also enclosed Morgan Stanley’s latest indicative valuation of various Pinnacle Notes which one of us had obtained through his broker. As you can see, many of these have devalued down to barest values. We understand that these devaluations had occurred rapidly in recent weeks. On top of that, we are in the dark as to the timing and exact root causes of the devaluation. Morgan Stanley is also not providing such information to us even though some of us had asked for them through our brokers.
We will be most happy to take your response in any form you deem appropriate, be it directly to me on their behalf, through a press statement or any other means.
As a matter of courtesy, I wish to advise you that I will shortly be posting a copy of the Plea, in a website which the signors have agreed, to enable them to access a copy for their records as most of them did not get one for keeps at the time of the signing at Hong Lim Park due to lack of photo-copying facilities at the site.
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- End of Free Financial Advice
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- Investors should see their Member of Parliament
- Why I wanted 100,000 signatures
- Buyer beware
- Singapore's investments in global banks
- Ask for information in writing
- Pinnacle Notes Series 9 and 10
- Experience with FIDREC
- Guide on FIDREC process
- Morgan Stanley website on Pinnacle Notes
- Risk analysis form - wrong statements
- Gathering 100,000 signatures
- Strategy on credit linked notes
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- Issuers of toxic notes should take more of the bla...
- Plea to MAS - investors of Pinnacle Notes
- Manifesto - the future of Singapore
- Battle of the mind and the heart
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