PLEASE READ IT COMPLETELY
1. Speakasia Online Pte Ltd. has been black listed by Singapore’s Registrar of Companies? Is that true?
No, absolutely false. The company has not been blacklisted ever. People have misconstrued the (X) sign ACRA had given on their site for delay in filing the annual returns, last year. The returns for this FY 10-11 will be filed after the year end on 31st May and this status will change.
2. Who are the promoters of Speakasia Online Pte Ltd.?
Speak Asia is owned by a holding company – Podium Ring International Ltd , registered in BVI , is owned and controlled by Ms Harender Kaur and Associates.
3. Is Speakasiaonline registered under Indian Companies Act also?
No, Speak Asia is not registered as a company in India as it is not a PE (permanent Establishment). The nature of business is such that legally the need for a PE does not arise as per prevailing laws in India. However to effectively support the business in India, Speak Asia is now going to open a PE in India soon, as has been announced in the press conference by CEO India – Manoj Kumar.
4. Do we have any registered office or contact office of Speakasia Online in India?
No, Speak Asia does not have its office or its own contact office in India. Its business model is such that it has vendors for call center, Support, Marcom, Technology and Training who have respective legal business entities in India.
5. Who is heading Indian operations of Speakasia Online?
W.e.f 15th May 2011, Mr Manoj Kumar has taken charge as the CEO India.
6. Can Speakasia Online show its financial results of last few financial years?
Annual financial results filed by the company thus far are available on ACRA site. When we complete full one year of active operations on 31st May, 2011 and will file the returns.
7. Can speakasia online show its tax returns?
Speak Asia does not collect any money from India and thus does not have any bank accounts here. The Collecting Representatives (CR) for ‘Surveys Today’ ezine has paid service tax against remittances made to HVP. Over 68Cr of Service Tax was paid in the FY 2010-11 for the business done in India. Tax returns for the same have been filed with service tax deptt.
8. Who are the clients for whom Speakasia Online conduct surveys? Can we have the list of those clients?
Panel Business operates on the lines of multiple exchanges where panel providers are pooled in and the clients can take their pick of the panels based on their profile requirement directly or through brokers. The panel profile can be based on demographics and many other parameters. The selected profiled panel is picked up like in any other exchange and the work is allocated to them. The Key Word to explain all this is
‘Precision Marketing’! Hence the panels cannot know the clients name directly. (E.g. in a stock exchange we buy stocks but at the time of buying we do not know who is selling those stocks)
This is a confidential data hence the names have not been publically disclosed .However our books of accounts clearly show the details of income from panel business and the agencies who gave us work. The same is being submitted to concerned Govt authorities in India as a proof of income.
9. What is the business structure for Speakasia Online? How is money distributed to panelist?
Speak Asia is creating a community of consumers which earns rewards points by participating in companies activities ( e.g -ezine sales , surveys filling , product referrals
/ sales , advertising based surveys , self development training programs ) on the website and burns those earned reward points for purchase of products and services from the website . The company’s business model is to make profits from product and service sales after providing for the cost of servicing the reward points.
Speak Asia gets research done ‘on’ and ‘for’ different companies, products and services; panelists earn reward points (RP) for participating with their valuable opinions in the surveys.
Effective June- July 2011, advertisement based revenues will start where panelists earn reward points (RP) for watching the ads carefully and giving them feedback on the same.
Products are available with Speak Asia at special rates; panelists earn through saving on purchase or reselling of products.
The Reward Points thus earned are redeemed through consumption of product and services offered by the company. Panelists can buy products ( such as mobile, LCD … aptly demonstrated in recent GenX bazaar at Goa where over 4,00,000 reward points were used by just 3000 panelists for buying goods ) . They can also buy subscription codes for distribution. The left over reward points can be encashed on request made on the website. All cash requests are processed through the bank and money is sent from Singapore to respective banks through TT.
10. Is any background check of panelist is done by the Speakasia Online? What if distributors and franchisee holders are using fake names and id?
Yes, every panelist is required to provide his mobile number and bank account details in his profile which are already validated by respective agencies that have a system in place.
11. What is the relationship between franchisee holder/ distributor and the company? Are they the legally authorised represetatives of the Company in India?
The Distributors have an agreement with HVP Singapore for selling subscription of Surveys Today ezines. The subscription number / code is used for registering on the SAOL website .The distributors are also required to provide basic training to Panelists for using SAOL site effectively . These distributors are authorized representative of HVP Singapore.
12. From which country the payment is made to panelists? If it is India, then on whose name bank accounts are being operated?
Payment to the Panelists in India is being made from Singapore through bank TT. There is no Bank Account of SAOL in India
13. Are the RBI guideline’s regarding to foreign exchange being complied, if the payments are made to panelist from outside the Country? Yes , vide Master Circular No. 01/2010-11 dated 01.07.2011 issued by RBI in respect of Misc Remitance to India
14. Can Speakasia online show its legal/incorporation documents? Yes , Annexure1 is attached
15. Subscription money paid by the panelist is deposited into whose bank accounts? Money is deposited in the bank account of the distributors. These distributors in turn remit the money to HVP Singapore using the services of collection representatives (CR) using RBI authorized banks.
16. Has Speakasia online obtained any permission from SEBI to run a collective investment scheme, which promise assured returns? Speak Asia does not run a collective investment scheme. Our panelists promote sales of Surveys Today ezine, work on the website, buy & refer products and services. This does not fall into the category of collective investment scheme. Thus no such permission is required from SEBI.
17. Are there any legal cases pending against Speakasia Online in Singapore, India or any other jurisdiction? What are the status of such cases? None till date
18. What recourse does the panelist have if speakasia online stops making payment to them? The company reserves in its accounts amounts equal to estimated payments for the month at the beginning of every month. And has offered to put funds equivalent to its 2 months payouts, in an escrow account which can be used for making any payment to the
panelist.
19. What is a relationship between Haren Technologies and Speakasia Online? Speak Asia Online was earlier named as Haren Technology Pte Ltd which was incorporated on 15/12/2006
20) Are the same types of surveys conducted by Speakasia Online in Singapore also? The operations in Singapore are limited and the panel size is very small. Thus no surveys are being done there. In July 2011 we plan to actively acquire new panels in Singapore, Malaysia, Indonesia and Philippines for which a new office has already been acquired in Singapore.
20. In which all countries does Speakasia Online have its presence?
Being an online activity the company panelists have registered from many countries such as Australia , Singapore , Bangladesh , India , Malaysia , Phillipines , Indonasia , .. just to Name a few. Full scale activities of the company have commenced in India and other will Follow soon.
21. Why Speakasia Online has stopped its working in Bagladesh?
The company is yet to officially start the business directly in Bangladesh and is studying the laws and other statutory requirements before going there with direct presence.
22. What all legal actions have been taken by Speakasia Online to protect its image in India and all over the world?
We have approached all legal and governmental authorities in India ( such as PMO , Ministries of Finance , Company Affairs , Home Affairs and Law enforcement authorities ) through official communication for presenting our business , financial and legal framework.
Further, we have engaged the best of the breed organizations in their respective fields such as Management Consulting, PR, Legal, Tax compliances, Marketing Communication, Training etc.
OTHER FACTS
‹ Speak Asia Online web site still working & is under improvement.
‹ Speak Asia said IN PRESS CONF. they are ready to show client list of company with terms & conditions.
‹ Speak Asia Rs. 68cr has been paid as Service Tax to the Govt. of India via its collection agent.
‹ Over USD 3 million spent by company on technology till date with using the services of IBM & Amazon.
‹ Current main panel center size 1.9 million (19 lacs panelist across India)
‹ Speak Asia got 87% positive response from panelist to get correct information though surveys.
‹ Speak Asia also admits that “OUR COMPANY IS NOT A INVESTMENT COMPANY”, because Rs. 1000/- is for life time registration fee with us & Rs.10000/- for panel purchase for training & learning purpose + participation fee of the survey & other activities.
‹ COMPANY has also admitted that anybody can check & verify our documents which are related to the law, market, and technology.
‹ SpeakAsia is Very Eligible to be in IDSA because No money is distributed on recruitments (Rs 1000/- joining fee) in which a person can get the entire 1 year issues of the E-zine… & only when he wishes to participate in the company’s activities he Buys the Product (Panel Subscription with Rs
10,000/-) and only then the commissions are calculated.
‹ SpeakAsia is in Precision Marketing Business where it uses its PANEL to find Targeted customer base & this PANEL is also used to research market’s future trends.
SPEAKASIAONLINE FUTURE PLANS‹ Permanent Establishment by 1st August 2011
‹ Minimum Five offices by the End of this year
North, East, West, South & Central
‹ USD 40 million to be invested in new technology for best and top level
Features.
‹ New web site to be launched in upcoming weeks which will be compatible with mobile handsets (m-commerce technology)
‹ Speak Asia also announced launching following plans/products/services soon to increase your income many folds: Consumer Products through E-shopping,
Satellite TV Channel, Mobile telephony services with British Based Company, Insurance Products,
Travel Services, Real Estate products...
THINK POSITIVE & KEEP FAITH
THE FUTURE IS IN YOUR FAVOUR
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