HK investor sue DBS!

[giggity_shit]

And I thought that BONDS is one of the safest financial instruments albeit the lower returns.

I think these very no exactly Bonds. Hence the misrepresentation to consumers.

If the advertised interest sounds too good, it usually is.

 

[giggity_shit]

Taken from : http://tankinlian.blogspot.com/

Group Meeting of MiniBond Investors
Message from Jan Chan: Mr. Tan, please help us to pass this message through your blog

We are a group of Lehman Minibonds investors who are organizing a meeting tomorrow to discuss collective action and to sign a petition for submission to the authorities to voice our grievances.

Interested parties are encouraged to join us.

Date/Time : Wed., 24/9/08 at 7pm
Venue : outside Hans Cafe (#01-01) at the Central Public Library, 100 Victoria Street.

Jan Chan

How to get to Central Public Library :
Nearest MRT: Bugis MRT Station or City Hall MRT Station
Bus stop (North Bridge Road ): SBS 145, 197, 32, 51, 63, 7, 80 175 and SMRT 851, 61
Bus stop (Victoria St -Allson Hotel) : SBS 2, 7, 12, 32, 33, 51, 63, 80, 175 and SMRT 61
Bus stop (Victoria St -Bras Basah Complex) : SBS 2, 12, 33, 130, 133, SMRT 960, NR7
Bus stop (Victoria St -St. Joseph's Church): SBS 130, 133, 145, 197, C3, SMRT 851, 960, NR7
Bus stop (Middle Rd - Nam Peng Building) : SBS 56, SMRT 980

 

[Zombie]

Well, it's definitely not a penalty and they're definitely not doing a free public service. And if I'm not wrong, they do partake in rewards if the instrument is performing.

You are mixing the reward relating to gratitude, to a reward relating to profit in a deal.

 

[pia]

This is not buying durian.
Even so, Bao Chiak one does not mean you can always bring back the lousy ones that you have chosen yourself, and complain for refund.

Err... I thot bao chiak means they open on the spot, and you can reject if it's not good? :p

 

[johnny333]

this is the same dbs in hong kong which destroyed a batch of safes which they tot is empty.. turn out still got customer's valuables inside..

really DumBasS..

That was an honest mistake lah.

DBS always got long queues. Must be really very busy, no one there to check if boxes were empty or not.

Surprised Hongkies still willing to trust DBS after that 'honest' mistake. Must be the strong brand, or got many Singkies in HK.

 

[Zombie]

Err... I thot bao chiak means they open on the spot, and you can reject if it's not good? :p

They won't open everything. Some seeds on other side may be lousy.
In theory, you can bring one bad seed and exchange.

 

[Zombie]

I think these very no exactly Bonds. Hence the misrepresentation to consumers.

If the advertised interest sounds too good, it usually is.

Bond is just a generic term.

 

[twochan]

Maybe there ought to be a law governing such investment contracts...

Easiest way is to mandate that contracts that don't guarantee their principals (like in this case) to be printed in red coloured paper.

Those that guarantee at least 50% princpals be printed in yellow coloured paper.

Those that guarantee their princpals 100% (no way you can lose your money) be printed in green coloured paper.

Alternatively, you could have a coloured stamp or something. In any case the colour has to be standardized by the government.

Minister of finance should give me some of his pay for writing this.