atans1

TISG and readers need protection from TISG misinformation

In Financial competency on 12/08/2016 at 5:47 am

“DBS helped sell junk Swiber bonds to public” was the headline to an article from TISG.

The article went on to describe three bond sales of Swibber bonds by DBS. It then went on to compare the sale of these bonds to another DBS product (akin to mini-bonds) where retail investors lost money.

There is a problem though with this analysis and comparison. The Swiber bonds were never sold to the public. As a ST article put it, “The Swiber bonds were available only to accredited investors – with net personal assets of more than $2 million – or those investing a minimum of $250,000.”

The TISG article never reported out that these bonds were only available to accredited investors – with net personal assets of more than $2 million – or those investing a minimum of $250,000. Its headline said the bonds were sold to the public, and this was repeated a few more times in the article.

Given that TISG is proud that it operates as a commercial site not a socio-political site, one can only wonder at the lack of editorial supervision given that the author “Eternal Vagabond” usually writes stuff that is against PAP administration, one would have tot that editorial supervision would not be so lax. Here the failure of editorial supervision led to misform. In fact the headline and article are defamatory. DBS could sue TISG for claiming that it sold these bonds to the public.

In the course of a row with critics of TISG, Ravi Philemon made it clear that there were writers that TISG never edited, juz published. See the bit towards the end juz before Ravi’s photo http://www.theonlinecitizen.com/2016/08/09/tisg-lashes-out-in-response-to-ncmp-daniel-gohs-remarks-on-its-article/.

I can only guess Eternal Vagabond is one of these untouchables.

Update at 6.50am: Given that the writer does not even know that the other DBS product (DBS High Notes 5) is not related to junk bonds ( “This is not the first time DBS is linked to junk bonds”), my constructive, nation-building advice to TISG is to make sure the Eternal Vagabond’s financial pieces are vetted throughly. And if this commercial website can’t pay for such editorial expertise, don’t publish this writer’s financial pieces.

But maybe defaming DBS is part of the “eyeballs” plan?

 

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