Disclaimer: I have not personally used Speak Asia service, so everything I write here is based on my study of the services offered by Speak Asia, discussion with friends, what is appearing on their website and my general impressions of this kind of services! I am also not passing any judgement on the service nor is it an effort to malign Speak Asia – This is my attempt at putting the facts in front of readers- to educate and inform them.
“Speakasiaonline Pte. Ltd, Singapore (SAOL) is a unique web 2.0 company that empowers consumers to create and use their collective bargaining power to get unprecedented price advantages in goods and services procured through our portals. With a large pool of strong panelists and promoted from an Indian origin, that seeks to remind the world, that the FUTURE of the 21st Century is ASIAN, with its epicenter in India.“
* If Speakasiaonline Pte. Ltd is a survey based company then why do they collect an upfront joining/membership fees of 11,000.
* The address mentioned on their WHOIS doesn’t match with their registered company address. The company website says the adress to be
Speak Asia Online Pte. Ltd.Address: 10 Ubi Crescent, #07-68, Ubi Techpark,Singapore 408564RCB Number: 200618809DPhone: 0065-63430887 / 0065-67493743(Monday to Friday: 7:30 am to 2:30 pm (IST))Fax: 0065-67422877
Well the reason for that could be that (lets assume) they are busy to update that just like the fact that their company was not able to be in compliant with Acra and hold timely AGM and submit their annual accounts on time due to the Directors travelling and expanding business in India.
* There were reports that during a trade fair in Goa, SAOL marketing team had claimed that ICICI, ING Vysya, Bata, Airtel and Nestle were its clients.But later, the satement from the company was that it has worked for companies such as Bata, Nestle,Airtel, ICICI and ING Vysya but has not provided commissioned services to them amidst media reports that the company had falsely claimed them as their clients.
* A no. of complaints have been registered against speak asia on www.complaints-india.com.
* In May, Kirit Somaiya, president of the Investors Grievances Forum in Mumbai, filed a complaint with the EOW of Mumbai Police against Speak Asia claiming to have received several complaints from consumers related to fraudulent business dealings among other things.
* Speak Asia is a Singapore based company, then why all the contact and office timings are given in IST on their website.
* United Overseas Bank froze the bank accounts of Speak Asia, catering to 19 lakh panellists, vendors and staff.
In the meantime, varies Indian agencies are investigating the charges against SpeakAsiaOnline Pte. Ltd. :
* The ministry of corporate affairs, or MCA, is looking into why Speak Asia is not registered in India, its investments, how it conducts its business, where it gets its money and how it pays its members.
* Meanwhile on 29th July,2011 The economic offences wing (EOW) of Mumbai Police took into custody Tarak Bajpai, chief operating officer of Speak Asia Online, as part of its investigation into alleged fraud by the survey firm.
All those who are not SpeakAsians Wait till Speakasiaonline Pte. Ltd gets a physical office in India (which they have said is on the cards) and they get themselves registered in India .
Its NOW or NEVER!!