700,000 will turn up for serving NS for nothing.
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AT THE fifth investor rally at Hong Lim Park on Saturday, anger and complaints of the 700-strong crowd shifted from the financial institutions to the Government and financial industry regulators.
Agitated investors questioned why there is still no word from the Government about investigating the investment products sold by several banks and financial institutions here.
In his speech, the rally's organiser, former chief executive officer of insurer NTUC Income Tan Kin Lian, said his request to meet with Monetary Authority of Singapore (MAS) officials to discuss the three petitions he sent them earlier, had been denied.
The petitions, signed by some 1,000 investors, called for, among other things, the Government to set up an independent unit which will investigate possible wrongdoings by the financial institutions, and to seek fair compensation for investors.
'One month has passed since I sent the first petition but I still do not know if the Government is investigating the matter,' said Mr Tan.
He said that Hong Kong has already set up an independent unit to investigate the complaints of their affected investors.
In a statement on Wednesday, MAS said it cannot reply to particular groups of individuals or individuals on its intended course of action in order to be 'fair and transparent to everyone'.
The heightened antagonism among Saturday's crowd came in the wake of Friday's announcement that another complex investment product sold to Singapore investors - Pinnacle Notes Series 9 and 10 - are now worthless.
Read the full story in tomorrow's edition of The Sunday Times.
============================
AT THE fifth investor rally at Hong Lim Park on Saturday, anger and complaints of the 700-strong crowd shifted from the financial institutions to the Government and financial industry regulators.
Agitated investors questioned why there is still no word from the Government about investigating the investment products sold by several banks and financial institutions here.
In his speech, the rally's organiser, former chief executive officer of insurer NTUC Income Tan Kin Lian, said his request to meet with Monetary Authority of Singapore (MAS) officials to discuss the three petitions he sent them earlier, had been denied.
The petitions, signed by some 1,000 investors, called for, among other things, the Government to set up an independent unit which will investigate possible wrongdoings by the financial institutions, and to seek fair compensation for investors.
'One month has passed since I sent the first petition but I still do not know if the Government is investigating the matter,' said Mr Tan.
He said that Hong Kong has already set up an independent unit to investigate the complaints of their affected investors.
In a statement on Wednesday, MAS said it cannot reply to particular groups of individuals or individuals on its intended course of action in order to be 'fair and transparent to everyone'.
The heightened antagonism among Saturday's crowd came in the wake of Friday's announcement that another complex investment product sold to Singapore investors - Pinnacle Notes Series 9 and 10 - are now worthless.
Read the full story in tomorrow's edition of The Sunday Times.
