- Joined
- Aug 6, 2008
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Wonder why Chua avoided addressing his blatant personal character smears against TKL and also the issue on TOC?:rolleyes:
'The aim of my letter was not to question the genuine intent of Mr Tan Kin Lian.' MR CHUA SHENG YANG:
'I refer to the reactions to my letter on Tuesday, 'Questions on investment products rally'. The crux of my letter was to highlight the amount of pressure that has been heaped on the banks by the public to make good the losses suffered by investors in the wake of the recent collapse of many funds. There must be prudence in how the cases are investigated and safeguards to ensure that there are sufficient considerations given to the interests of the banks' shareholders. While I agree that there are many cases who would ultimately be deserving of compensation, there will also be many people who are now seeking 'redress' where there was no injustice in the first place, that is, they were fully aware of the risks involved during the purchase. Should the banks cave to pressure and blindly reimburse such investors, it would be detrimental to the interests of their shareholders. The aim of my letter was not to question the genuine intent of Mr Tan Kin Lian in wanting to assist those who had legitimately suffered losses, but rather to question whether a mass rally is the best way to handle the situation.'
'The aim of my letter was not to question the genuine intent of Mr Tan Kin Lian.' MR CHUA SHENG YANG:
'I refer to the reactions to my letter on Tuesday, 'Questions on investment products rally'. The crux of my letter was to highlight the amount of pressure that has been heaped on the banks by the public to make good the losses suffered by investors in the wake of the recent collapse of many funds. There must be prudence in how the cases are investigated and safeguards to ensure that there are sufficient considerations given to the interests of the banks' shareholders. While I agree that there are many cases who would ultimately be deserving of compensation, there will also be many people who are now seeking 'redress' where there was no injustice in the first place, that is, they were fully aware of the risks involved during the purchase. Should the banks cave to pressure and blindly reimburse such investors, it would be detrimental to the interests of their shareholders. The aim of my letter was not to question the genuine intent of Mr Tan Kin Lian in wanting to assist those who had legitimately suffered losses, but rather to question whether a mass rally is the best way to handle the situation.'
:p
