$12m in troubled products
Two town councils invested in Lehman and Morgan Stanley.
Mon, Nov 17, 2008
The Straits Times
TWO town councils - Holland-Bukit Panjang and Pasir Ris-Punggol - have about $12 million invested in troubled structured products.
These products include Lehman Minibonds, DBS High Notes 5, Merrill Lynch Jubilee Series 3 and Morgan Stanley Pinnacle Notes Series 9 and 10.
Senior Minister of State (National Development and Education) Grace Fu gave this update in Parliament on Monday, in response to a question from Nominated MP Eunice Olsen.
source : http://business.asiaone.com/Business...17-101256.html