Tan Kin Lian's Blog: SCMP: Investors offered 80 pct payout for Lehman products

Friday, December 25, 2009

SCMP: Investors offered 80 pct payout for Lehman products

Many investors in Singapore would wish that they have the same kind of assistance that is offered in Hong Kong. Read this report.

10 comments:

Anonymous said...: Dear Mr Tan
Ref: your call for assistance

The polite response from the man-in-the-street is the Hokkien phrase "Tan Ku"; December 25, 2009 10:18 AM
Anonymous said...: We will never forget the "treatment" we received in this saga.
Now we know how we are being "treated differently & unfairly".; December 25, 2009 10:23 AM
Tan Kin Lian said...: Hi 10:18 AM

Let us call for reform. Keep calling until someone hears. It may take years, but we keep calling. Join our voices together. OK?; December 25, 2009 10:56 AM
Anonymous said...: Kin Lian
agreed; December 25, 2009 11:44 AM
Anonymous said...: Wonder why this document was not publish on local papers? Likely permission not granted....; December 25, 2009 1:57 PM
Anonymous said...: FORMER INSURANCE CHAIR LOST $30K DUE TO MINBOND
http://www.asiaone.com/Business/My%2BMoney/Opinion/Story/A1Story20091220-187096.html

From the very savy to the heartlander, all were misled by FA that it is a bond and as safe as FD.

According to MAS report, FA were trained by LB.

FA in adjudication also agreed and admitted that they were told it is a bond.

The writing on the wall is clear. From the top down to the retail investors, all were misled.

Then why are we, the retail investors, are punished while the FIs were only ban to sell a structure product that is already dead?

Hong Kong SEC did the honourable thing, they force FIs to compansate 60-70%. Some FIs went beyond that i.e. 80% to 100%.

I console myself that maybe the HK FIs have insider information that the liquidation is as high as 80% thus this decision to compensate.

As for Sgp, no such thing from MAS or the Govt. Why? Beats me......

If coming election exceed 66% with all the foreign workers, toxic products issues poorly managed, one wonder what the general public vote with.....; December 25, 2009 9:52 PM
Anonymous said...: It makes me sick each time I am reminded of the treatment investors received as compared to those in HK. The losses are still very rooted in my heart and I am sure in many others. I hope I can make my votes count when the time comes.; December 26, 2009 10:53 AM
Anonymous said...: Wonder what is the Govt doing to help those middle age out of job PMET & workers? Retraining is a good idea but the problem is employers are not employing them due to age and cost e.g. medical condition. What can these people do? Whose reponsibility to look after them? Of course we are not asking for handout but there is no job except taking over the foreigners job like cleaners, janitors etc. But the problem is the foreigners are even cheaper especially with the Govt policy of high number of foreigners.

If the PAP wins at 58%, they will do a wayang to say that voters have high expectation and it is a norm to see a drop. Then continue to do nothing about the high number of unemployed middle age people. After election, they will conveniently ask for another pay raise for minister giving the reason that since the pay reduction in 2008, it is about time for another pay raise.

Hello!!!! At $1.54 million a year for a entry Minister, how much more is enough? Just compare with those jobless middle age Singaporean with all sorts of certification, they are overly, overly paid....

Please come back to earth as you have been living in outer space for far too long. Maybe they need a low, low margin win or more opposition in the parliment to wake up.; December 26, 2009 6:26 PM
Anonymous said...: ""I understand many cases are still pending due to disputes between the IFAs & FIs. If one choose to go against 2 parties (IFA & FI), they were told to pay 2 times and have to go through 2 hearings (that means 2 times the stress!)""

It is something very easy to do. They could just ask IFA & FI to come together, and you just have pay it once. But they don't even want to lift a finger to help you.

HK is different, so they could receive 70% - 80%.; December 26, 2009 9:14 PM
Anonymous said...: The receiver in Hong Kong is getting a better deal for notesholders compared with PWC in Singapore. The could be one of the reasons why some FI's there are offering 80 % compensation??; December 28, 2009 8:55 AM