The Monetary Authority of Singapore (MAS) has received queries from the public on Lehman’s Minibond and have contacted the trustee of the Minibonds, HSBC Institutional Trust Services (Singapore).
HSBC in turn has engaged legal counsel to explore all options available.
Investors who have purchased the Minibonds have been adviced by MAS to contact the financial institution from where they had purchased the product or HSBC Institutional Trust Services (Singapore).
Financial institutions have been told to proactively address customers’ queries and concerns, given the current market conditions.
MAS has also issued a direction to Lehman Brothers Pte Ltd and Lehman Brothers Singapore Pte Ltd to seek MAS’ approval before paying out any of their own funds to third parties in order to ensure that the Lehman entities in Singapore continue to meet their financial requirements.
Note: I have spoken to HSBC trustee. No updates for now but they are trying to work out the best outcome for minibond holders.
It will probably take a bit of time.
Will post an update on the site if I get any more news. You can also call them at 62167449.
Added updates: Minibonds Update