Progress disappointing, get MPs to address the matter.

The Online Citizen 2008-11-29 Uncategorised

Mr Tan Kin Lian's speeches at Speakers' Corner, 29 November 2008.

Excerpts from Mr Tan Kin Lian’s speech:

"I suggest that you should see your Member of Parliament, ......... ask the MP to do the "right thing" as the leader that represents you."

"It is the duty of the MP to ask these questions on your behalf. Your MP can also raise them in Parliament."

"But what if the prospectus did not disclose material facts?"

"You can ask a lawyer whether the failures to disclose the above amounts to a breach of section 243 (1)(a) of the Securities & Futures Act."

"Doctor Money wrote, “The question of the day is: ‘Should non-disclosure of embedded charges invalidate linked-note sales contracts and require a refund from issuers and distributors?’”

"You should send the questions in writing (by letter or e-mail) and ask the relationship manager to give you the reply in writing. If you do not get a satisfactory reply, you should lodge a written complaint with MAS."

"As an investor, you have the right to get relevant information on the product that you were sold."

"Act to safeguard your interest. Do not accept slipshod answers. Lodge your complaint."

"If you have gone through FIDREC, please send the outcome to me, so that your experience can be shared with other investors."

"I have asked the media to find out from FIDREC and give an update of the number of cases cleared through FIDREC and the summary of the outcome. I believe that this information is necessary for the public to know."

"The various groups are still talking to several lawyers to find out about their approach towards a class action. They are still not clear about the estimated legal fees and the chance of success."

"Special meeting for next Saturday, 6 December, 5 p.m. This will be a special day to commemorate the second anniversary of The Online Citizen. I will be speaking at this event. I shall be talking on a matter that is relevant to the investors of the credit linked notes."

Part One: