In a breakthrough in Hong Kong, brokerage firm Sun Hung Kai Investments has offered to buy back 100% of the Minibond that they sold. This could open the floodgates for other financial institutions to follow suit.
More on this at the following links:
HK brokerage offers full refund (Straits Times)
Sun Hung Kai to buy back HK$85 million Lehman Minibonds (Asian Investor)
It’s payback time (The Standard)
Sun Hung Kai agress to US$11 million Minibond buyback after SFC concerns (Structured Products Online)
In Singapore, Minibond investors who did their transactions with stock broking firms are not so fortunate.
According to the statistics released by MAS, out of 535 complaints which have been already decided, 1% (5) have been offered a full refund, 2% (11) have been offered a partial (>50%) refund and 10% (54) have been offered a token refund (<50%).
The rest of the 87% (465) had their complaints rejected. They will have to take their case to FIDreC if they want to advance their case further.