Recently the Lehman linked structured products are causing any uncles n aunties their hard earned money. Seems like the consumers are not the only ones affected…
Just like thousands of Singaporean investors who have lost money on failed Lehman-linked structured products, the Holland-Bukit Panjang Town Council may lose its S$8 million investment.
The town council invested 6.7 per cent of its sinking funds available for investment in Lehman Brothers’ Minibond Notes, DBS High Notes 5 and Merrill Lynch’s Jubilee Series 3 Notes.
It had invested another S$3 million in Pinnacle Notes Series 6, but this investment was unaffected.
For Pasir Ris-Punggol, its S$4 million investments in the Minibond Series 2 and 3 amounted to 2.6 per cent of its funds.
Hmm… As u can see, the opposition invested more in the minibonds as compared to the incumbent. the govt dun treat opposition constituency tt well? I wonder…
I wonder who’s going to fill up the questionaires from DBS and wonder if the towncouncils are going to join the class action suit.. hmm…
Added 19 Nov 2008 – Mr Wang also had something to say about this. Check it out on his blog.
So.. It’s not just the Aunties n Uncles anymore…
CK brought this to my attention..
Recently the Lehman linked structured products are causing any uncles n aunties their hard earned money. Seems like the consumers are not the only ones affected…
Excerpt on CNA Webby:
Hmm… As u can see, the opposition invested more in the minibonds as compared to the incumbent. the govt dun treat opposition constituency tt well? I wonder…
I wonder who’s going to fill up the questionaires from DBS and wonder if the towncouncils are going to join the class action suit.. hmm…
Added 19 Nov 2008 – Mr Wang also had something to say about this. Check it out on his blog.
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