PAP town councils invested in defuncted bond

Thursday, 11th December 2008

Holland Town Council and Bukit Panjang Town Council, both People's Action Party (PAP) town councils, had invested $12 million in troubled in the Lehman Brothers-linked Minibonds and the Merrill Lynch Jubilee Series 3. The 2 PAP) town councils send out a detailed explanation of their investments to about 53,000 households under their care.

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