Support these two events this Saturday

[Ah Hai]

This Saturday, 11 October 2008, will see two events taking place. The first is a public forum, jointly-organised by four organisations, on the topic of investment. Titled “Turbulent Times; Investing, Saving and Surviving”, the speakers for the forum will be Mr Leong Sze Hian and Mr Lyndon Chew from the Society of Financial Services Professionals and Ms Heather Chi from Food for All to speak about food prices and the shortage of it.

In addition, a new book by Mr Leong will be launched at the event as well. Titled, “Issues That Matter: Uniquely Singapore – F1 or F9?”, the book is a bi-lingual compilation of 45 letters by Mr Leong over the years which have been published by the local press.

A special “Turbulent Times” edition of the book will be on sale only at the forum.

The details of the event are as follows:

Co-org by SFSP, TIA, TOC and Food fo

Venue: URA Centre
Date: 11 October 2008
Time: 2pm to 4pm

Admission: Free

Organisers: Society of Financial Services Professionals, TIA Conferences, The Online Citizen, Food For All.

———–

Tan Kin Lian’s Speakers’ Corner Event

The former Chief Executive of NTUC Income, Mr Tan Kin Lian, will be holding an event at Speakers’ Corner for investors who are affected by the recent credit crisis. Singaporeans who bought financial structured products such as minibonds and high notes are encouraged to attend this event.

The purpose of the gathering is to ask the Government and the Monetary Authority of Singapore, in particular, to look into the situation and take the necessary actions. A petition will also be made available at Speakers’ Corner.

Speakers for the event include Mr Tan Kin Lian and Mr Leong Sze Hian. (More speakers are being confirmed).

The details are as follows:

Venue: Speakers’ Corner, Hong Lim Park (Take train to Clark Quay station, Exit A)

Date: 11 October 2008

Time: 5pm

http://theonlinecitizen.com/2008/10/support-these-two-events-this-saturday/

 

[TeeKee]

This Saturday, 11 October 2008, will see two events taking place. The first is a public forum, jointly-organised by four organisations, on the topic of investment. Titled “Turbulent Times; Investing, Saving and Surviving”, the speakers for the forum will be Mr Leong Sze Hian and Mr Lyndon Chew from the Society of Financial Services Professionals and Ms Heather Chi from Food for All to speak about food prices and the shortage of it.

Mr Leong Sze Hian is a good man and qualified to speak in finance! Support him!

A special “Turbulent Times” edition of the book will be on sale only at the forum.

How much is the book? Can I get it in Book stores?

 

[po2wq]

Tan Kin Lian’s Speakers’ Corner Event

...

The details are as follows:

Venue: Speakers’ Corner, Hong Lim Park (Take train to Clark Quay station, Exit A)

Date: 11 October 2008

Time: 5pm

tis 1 ends @ wat time 1, huh? ...

 

[Ah Hai]

Investors hold protest here

ABOUT 600 investors in Lehman-linked derivatives held a public meeting in Singapore on Saturday to protest about the way banks sold them the investment products and to discuss ways to get compensation.

Held at Speakers' Corner, the only outdoor area where public meetings can be held without a permit, the crowd included several people who were sold products in July, when there were already concerns about Lehman's health.

'They never told me the issuer was Lehman and I told the manager I was afraid of American banks,' said Ms Lin Ling, who bought S$60,000 worth of Lehman-linked 'Minibonds' from a Singapore finance firm that had marketed the structured notes as a safe alternative to fixed deposits.

Ms Lin said she was persuaded to buy the notes when she went to renew a fixed deposit account. She and other investors showed brochures printed by the finance company which did not say the products were structured by Lehman.

A few elderly investors broke into tears saying they had lost a large portion of their retirement savings.

'I didn't know it's Lehman. There's no Chinese explanation,' said a lady in her 60s who identified herself as Madam Lee. 'I don't want interest, I just want my deposit back.'

Investors in Hong Kong, Singapore and Indonesia have over the past month complained the bond-like products they purchased from banks were actually complex derivatives and that they stood to lose most or all of what they had invested.

Both Singapore and Hong Kong have rules that say banks must ensure that clients purchase investment products that were consistent with their needs and risk profiles.

The products included Minibonds which were sold in Hong Kong and Singapore and DBS Group's High Notes 5 series, which would lose most of their value should anyone of eight underlying firms, including Lehman, go bankrupt.

These structured notes offered modest returns of between 4 and 6 percent per annum.

The Monetary Authority of Singapore (MAS) said about 9,700 people had bought Lehman-linked structured notes worth over S$500 million. Hong Kong authorities meanwhile said they have received more than 7,000 complaints from investors alleging banks improperly sold them Lehman-related investment products.

MAS has said that while it can impose fines and suspend the licenses of financial institutions found to be in breach of its rules, it does not have the power to order banks to compensate investors.

According to Mr Tan Kin Lian, one of the protest organisers, Saturday's gathering was to allow investors to meet and organise themselves so that they could get take collective action against the sellers or petition their Members of Parliament. -- THOMSON REUTERS

http://www.straitstimes.com/Breaking+News/Singapore/Story/STIStory_288734.html