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Sunday, 19 October 2008
Minibond Holders Potentially Lose S$639 mil
The Monetary Authority of Singapore (MAS) said that about 10,000 people in Singapore bought a total of S$639 mil of the failed Lehman mini bonds. A number of these people are retirees, losing their lifelong savings, some even contemplate commiting suicide.
MAS is investigating the complaints filed by the investors accusing the financial institutions of mis-selling. Financial institutions that were involved in the seling of Lehman mini bonds include DBS Group, Hong Leong Finance, UOB Kay Hian, OCBC Securities and ABN AMRO, now part of the Royal Bank of Scotland.
Source: Asiaone Business, Business Times
About Me
- Name: Teh Loo Hai
- Location: Kuala Lumpur, Malaysia
Loo Hai is an actuarial recruiter cum actuarial consultant. He has over 20 years of work experience gained in Malaysia and Australia in the actuarial, insurance, takaful and pension fields.
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