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Monday, September 29, 2008

Goh Chok Tong Comments on Recent Minibonds, High Notes Investments

Singapore Senior Minister (SM) and current Chairman of Monetary Authority of Singapore (MAS), Mr Goh Chok Tong, recently commented on the now hot Minibonds and High Notes failed investments.

He commented:

"I know (individual) Singaporeans have been hurt; they have invested in Lehman Brothers mini-bonds, in High Notes ... and more have been hurt investing in equities, but that’s life — if you want to have a good rewards, you’ve got to take risk.

“Otherwise, leave your money in your CPF ... Four per cent is a fabulous return without risk. Singaporeans complained it was too low, (but) now they know the meaning of a capitalistic existence.

In my personal opinion, I thought Mr Goh could have commented in a way whereby the many ordinary retail investors' concerns over their jeopardized huge savings are addressed especially in the current possible mis-selling by the banks. I am disappointed.

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