Real copy of DBS letter of rejection to minibond investors

[Avantas]

This letter was sent to us by one of our reader which is a standard letter received by many DBS High Notes investors:

Attached pic

DBS High Notes 5:

We refer to your inquiry regarding High Notes 5. We also refer to our subsequent conversation on 25 September 2008.

We have carefully revisited the matter raised in your inquiry and are satisfied that we have fully disclosed and explained the terms and risks of an investment in DBS High Notes 5

XXX

EDITORS’ NOTE:

Notice the patronizing tone of the letter and the callous manner in which this DBS “valued customer” is treated. DBS is obviously pushing the responsibility of the failed structure-linked investments entirely to its customers which fall outside the “vulnerable” group.

How convenient it is for them to state they are “satisfied” that they have fully disclosed and explained the risks of the products to simply brush away the concerns, anxiety and frustration of their customers ! Is DBS satisfied too that they have one less customer to compensate ?


View the actual letter and read the full article here:

http://wayangparty.com/2008/11/03/dbs-standard-letter-of-rejection-to-investors/

 

[madmansg]

none of the investors even the old and retired should get back their money. They fully deservesed to be screwed. anyone that accept NS fully deserved to be screw every year of their life.

 

[eeoror88]

none of the investors even the old and retired should get back their money. They fully deservesed to be screwed. anyone that accept NS fully deserved to be screw every year of their life.

KNN ....... make money clap hands, throw party, go travel. Lose money cry father, cry mother, blame cows, blame neighbours, blame society as a whole and also gahmen.

Themoral of story : Blame it on their greed !!

 

[Singapaporean]

It could be worse....they could choose to sms this "letter of rejection" instead

 

[Avantas]

haha, that will definitely save some postage money for DBS.

It could be worse....they could choose to sms this "letter of rejection" instead

 

[DOM the Clown]

It seems that the DBS has only one senior citizen qualifies for the refund. He's 83 years old and he lives in 38 Oxley Road.