Dear Mr. Tan,
Several people have called you to stand for elected President of Singapore. The country needs a person of integrity and courage to speak for the ordinary people and act as a check and balance against the current Government. You can play this role effectively and will get the support of the people. Will you consider?
Sunday, October 12, 2008
Hit by Forex Losses
Are you hit for forex losses?
Do you wish to meet other investors in the same situation?
http://www.petitiononline.com/PCFXT1/petition.html
Do you wish to meet other investors in the same situation?
http://www.petitiononline.com/PCFXT1/petition.html
Dual Currency Deposit (DCD)
From a journalist:
In Europe the DCD (dual currency deposit) product is generally only marketed to High-net-worth individuals through private banks and is rarely seen in any retail networks, probably because many retail investors in Europe don't speculate in currencies. But in Asia the DCD is a very popular instrument among retail investors.
The product is relatively simple but, as is emerging now, dangerous too. There is no protection on the product and when steep currency movements occur the deposit can be hit badly.
I'm looking into number of products that are denominated in either SG$ or HK$ against the Aus$. About a month ago a lot of investors got burned, and i believe the same has happened over the past week. I will probably also incorporate FX accumulator and decumulator products in the story as there has been some movement there too.
Action: If you have invested in these products and had suffered large losses, and wish to shrae your story (maybe not using your real name), you can send your story to kinlian@gmail.com
In Europe the DCD (dual currency deposit) product is generally only marketed to High-net-worth individuals through private banks and is rarely seen in any retail networks, probably because many retail investors in Europe don't speculate in currencies. But in Asia the DCD is a very popular instrument among retail investors.
The product is relatively simple but, as is emerging now, dangerous too. There is no protection on the product and when steep currency movements occur the deposit can be hit badly.
I'm looking into number of products that are denominated in either SG$ or HK$ against the Aus$. About a month ago a lot of investors got burned, and i believe the same has happened over the past week. I will probably also incorporate FX accumulator and decumulator products in the story as there has been some movement there too.
Action: If you have invested in these products and had suffered large losses, and wish to shrae your story (maybe not using your real name), you can send your story to kinlian@gmail.com
Weekly Speeches at Speaker's Corner
I have registered to speak at Speaker's Corner, Hong Lim Green as follows:
Date: Sat 25 Oct, 5 to 7 pm
Date: Sat 1 Nov, 5 to 7 pm
Date: Sat 8 Nov (cancelled)
Date: Sat 15 Nov 5 to 7 pm
My speech will be short, for about 10 mins.
After hearing my speech, the investors can gather in groups (according to distributor, product or postal district) to exchange views and discuss collective action.
All the best.
Date: Sat 25 Oct, 5 to 7 pm
Date: Sat 1 Nov, 5 to 7 pm
Date: Sat 8 Nov (cancelled)
Date: Sat 15 Nov 5 to 7 pm
My speech will be short, for about 10 mins.
After hearing my speech, the investors can gather in groups (according to distributor, product or postal district) to exchange views and discuss collective action.
All the best.
Tan Kin Lian's speech at Speaker's Corner
Mr. Tan,
Here is the YouTube Video Clip link of your speech at Hong Lim. I broke it into 2 parts because unedited file too large:
http://www.youtube.com/watch?v=rQ3xTRnd8J8 (PART 1)
http://www.youtube.com/watch?v=WCfpgMinQvI (PART 2)
Thomas Choy
Here is the YouTube Video Clip link of your speech at Hong Lim. I broke it into 2 parts because unedited file too large:
http://www.youtube.com/watch?v=rQ3xTRnd8J8 (PART 1)
http://www.youtube.com/watch?v=WCfpgMinQvI (PART 2)
Thomas Choy
Minibond invetors are not risk takers
Dear Mr. Tan
I think there is a way to prove that the investors are not risk takers. If an investor is interested to get a higher rate than those offered by FD, they would have invested in NZ FD as the rate was more than 7%.
As the investors are not willing to take currency risk, they are not willing to put their money into foreign currency FD. If that is the case, the investors are not risk takers and there is no reason why the investors are willing to invest in a high risk product like mini bond that offer only 5% with the risk of losing the whole investment if things go wrong. This argument has proven that it is obvious that the investors were not told of such risk in mini-bond investments by the RM.
I believe if the investors put up their cases in the above manner, their cases are stronger. Hope that the info is useful for the investor.
V
I think there is a way to prove that the investors are not risk takers. If an investor is interested to get a higher rate than those offered by FD, they would have invested in NZ FD as the rate was more than 7%.
As the investors are not willing to take currency risk, they are not willing to put their money into foreign currency FD. If that is the case, the investors are not risk takers and there is no reason why the investors are willing to invest in a high risk product like mini bond that offer only 5% with the risk of losing the whole investment if things go wrong. This argument has proven that it is obvious that the investors were not told of such risk in mini-bond investments by the RM.
I believe if the investors put up their cases in the above manner, their cases are stronger. Hope that the info is useful for the investor.
V
Big loss on dual currency investment
Dear Mr Tan,
My mother told me that she invested in a dual currency investment ( USD, New zealand dollar, yen) for about USD $500K from her retirement saving, and suddenly the bank told her that she lost all her money, and if she want to stay and get her money back she need to inject another $500k.
So what should we do, I'm not familiar with dual currency investment, and neither does she. Does it means that she lost all her retirement money? Is it true if we inject the money $500k will cover the lost for the other 500k?
I really appreciate your advice.
REPLY
Please ask your mother to get a detailed statement and explanation from the bank. You can send it to me.
You can register the particulars of your mother in this Petition:
http://www.PetitionOnline.com/PCFXT1/petition.html
My mother told me that she invested in a dual currency investment ( USD, New zealand dollar, yen) for about USD $500K from her retirement saving, and suddenly the bank told her that she lost all her money, and if she want to stay and get her money back she need to inject another $500k.
So what should we do, I'm not familiar with dual currency investment, and neither does she. Does it means that she lost all her retirement money? Is it true if we inject the money $500k will cover the lost for the other 500k?
I really appreciate your advice.
REPLY
Please ask your mother to get a detailed statement and explanation from the bank. You can send it to me.
You can register the particulars of your mother in this Petition:
http://www.PetitionOnline.com/PCFXT1/petition.html
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