The gathering, held at a 'closed door' session in a meeting room in Raffles Hospital, was the first such session organised by a Maybank investor-led group for Maybank customers who have lost large chunks of their savings in what they had thought were safe investments.

The exact number of investors present was not known, but the room can accomodate between 100 and 200 people.

Although Maybank has declined to reveal the number of investors that have ploughed money into Minibonds, The Straits Times understands there are at least 2,000 of them affected.

This is a 'significant number', investors say, as it represents a fifth of the almost 10,000 retail investors that bought products linked to the now-bankrupt investment bank.

Still, there could be double counting in the total number of investors, as some might have bought more than one product.

One of the investors, who would only give his name as Mr Lee, said the meeting was called for by other investors who decided that there was strength in numbers and going solo might not be so effective.

Mr Lee, who invested $10,000 in Minibonds last year, said that he is tired and frustrated.

'It's like somebody has conned you, and you just feel resigned to the fact,' he lamented.

Maybank investors found themselves in a bind after they flocked to Speakers' Corner to voice their frustrations, only to find this was not leading to any quick resolution.

At Hong Lim Park, they swapped contacts, and amid the confusion and tears, they found solace in each other as they sought redress for the Minibonds they claim were mis-sold to them.

They also took comfort from the fact that a 300-strong action body called DBS Hi Notes Investor Group was putting pressure on DBS and this seems to have got things going - as the local bank was 'actively' engaging investors in forums and dialogues.

'Nobody thought this was needed, but we now feel there is a need to galvanise collective action on our part,' Mr Lee told The Straits Times.

Maybank has already notified investors they will compensate the most 'vulnerable' group of investors, such as the elderly and less educated, and to probe mis-selling claims.