Buy @ $2.60. Buy some to avg down. I think they hv already provided for the Lehmen MiniBonds in Dec08 (as Net Loss), too lazy to chk. 😀
Update (16-Jul-09)
Extracts fm “The Edge Singapore” dated 13-Jul-09,
– MiniBond Notes : $86.3Mil
– Pinnacle Notes : $19.9Mil
– Sold more Structured Notes than DBS (3mth ban)
– Provisions Q408 : $55.5Mil
– Settlement Offered : $57.6Mil
Impact of 2-yr ban by MAS on selling Structured Products
– Fee Income is 10% of total income
– Q108 : 12% ($6.5Mil of $54.7Mil)
– Q109 : Dropped 78% to $1.4Mil of $25.7Mil (Net Profit)
Loan Business
– Building and Construction : 30%
– Housing : 18%