Friday, August 07, 2009

The Academic Year is coming to a close!!!!! Bloody Phillip Securities!!!

The academic year is coming to a close. Why? The graduating class is about to face their worst nightmare (prelims) within this two months and soon it will be the actual 'O' levels. While the other levels will start their end of year examinations after the prelims are over. Then it will be almost over and time to prepare for the holidays. The year end holidays will be the time that most teachers look forward to as the week breaks and june holidays are usually taken up for extra classes and remedials.

One can never get used to this lifestyle even though I have gone through many cycles. Why do I say that? Because I still struggle to wake up every morning when it is still dark everyday. How I wished that I can sleep till I wake up naturally every morning (or noon) HAHAHA! Soon it will be primary school for my firstborn son. ARGH!! it is the struggle to wake him up and getting him to school, like what all parents face when their children reach school attending age. So no more sleeping in late, but what differences does it make? I am already waking up early now.

I asked myself, "why can't the school start later since most of the schools are single session?" It is becasue of some "selfish" self who will be late for work if school starts at 8am or 8:30am and it will result in school ending late and pupils will need to have lunch.(as if the secondary pupils are not already having lunch in school now.)


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About Pillip Securities

I should have blogged this earlier. What a bunch of irresponsible idiots!!!

In between the last blog till today, I have made a loss of $5k in the stock market. Thanks to the lousy system of Phillip Securities. My email response as below


I believe the company is liable for my loss. The reasons are as per below
1) Phillip Securities as a service provider should have a reasonable duty of care to upkeep and maintain the system to ensure smooth running of the system. No disclaimers can be used to escape liabilty to damages.

2) I have withdrawed the order as normal it is usually done after two to three minutes while still displaying the pending withdrawn message. Least that i expect, the transaction is done after i received the email one hour later. it is not reasonable to receive the confirmation of purchase through email only one hour after the transaction is done in this present time of IT era.

3) I did not receive any confirmation of transaction, hence i presumed that the transaction is not successful so I continue to make a second order and later withdraw the order, resulting a total of 5 lots of OCBC shares at the end of the day. The result of such transaction will not occur if the system is capable to handle the transaction smoothly.

4) To my knowledge, there are other consumers who have experienced such transaction that takes place as a result of the system. It is not reasonable for a broker to receive and take brokerage fee and clearing fee and commission to not take responsibility for the operation of the system.



Thinking that Singapore Investors Association is able to help, I joined them as a member but it is fruitless and there is no reply from them at all. (equally useless)


Hiaz, I am still suffering from the consequences of this loss. My advise to those still using Phillips Securities: they only want your money (bokerage and commision) when they always claim disclaimer when their system is faulty or cannot cope with the high traffic. They are not interested to help you make money (not service-orientated). They forgot Phillip Securities also make money when customers make transactions.They can all go burn in hell.