Some 58 percent of Singapore investors who complained they were mis-sold products linked to the bankrupt Lehman Brothers will get compensation, Monetary Authority of Singapore (MAS) said on Friday.

The MAS said ten financial institutions that sold Lehman Minibond program notes, DBS High Notes 5 and Merrill Lynch Jubilee Series 3 LinkEarner notes have received 5,381 complaints as of January 14, 2009, and 5,127 of these cases have been addressed.

Based on the decided cases, 58 percent of complainants will receive a full or partial settlement, which comprises 25 percent of complainants receiving full settlement and 33 percent receiving partial settlement.

"Almost all elderly investors with little income, little formal education and little investment experience have been offered full or partial settlement," the MAS said.

The MAS said financial institutions are in the process of communicating the outcomes to investors, which could take a few weeks as they intend to communicate with some investors face to face.

Investors who are not satisfied with the outcome of the financial institutions' review of their complaint may choose to have their complaints referred to Financial Industry Disputes Resolution Centre for further mediation, the MAS said.

(Xinhua News Agency January 16, 2009)