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Maybank said they will look into the ‘vulnerable’ category carefully. My mother is in this category and after the meeting with them, they told her that they will look into her case and get back to her only 4 weeks later. And they made it clear that only ‘deserving’ customers will be compensated. So my question is, is there an ‘undeserving’ category in this vulnerable group? My mother is above 65 and had no more than primary school education. Maybank was real quick in jumping on the bandwagon of DBS and these 6 brokerages in trying to give false impression that they too will compensate the vulnerable group. And now this ‘only deserving customers’ lame exclaimer. So convenient of them. Who knows how many percent of these vulnerable investors really get compensated in the end, 0.1?
ReplyMaybank said they will look into the ‘vulnerable’ category carefully. My mother is in this category and after the meeting with them, they told her that they will look into her case and get back to her only 4 weeks later. And they made it clear that only ‘deserving’ customers will be compensated. So my question is, is there an ‘undeserving’ category in this vulnerable group? My mother is above 65 and had no more than primary school education. Maybank was real quick in jumping on the bandwagon of DBS and these 6 brokerages in trying to give false impression that they too will compensate the vulnerable group. And now this ‘only deserving customers’ lame exclaimer. So convenient of them. Who knows how many vulnerable investors percent really get compensated in the end, 0.1?
ReplyI have heard lots of DBS High Notes and other Lehman linked investment prodcuts sold by DBS, but nothing was mentioned of DBS Credit Linked Notes on 10 Global Financial Institutions (SGD), wherein 1 of the 10 Financial Institutions is Lehman Bros.
I am the holder of such notes and to may great dismay had been informed by DBS that I would be lucky if I could get a recovery of 8c to the $, in the form of another Bond as opposed to cash.
Considering that this CLN had sufferred the same fate as the other Lehman linked structured products, I do not seem to note any comments or complaints from any of the holders of such notes.
Your viewers’ comments and input would be highly appreciated.
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