Speak Asia Online has responded to mounting regulatory scrutiny, including investigations by at least five government bodies, by issuing a press release and holding a legal conference. ScamTelegraph observes that the company's attempts to clarify its business model have raised further questions regarding its operational transparency and recruitment practices, particularly concerning its claims about market research and membership costs.

The company's actions followed a period of intense activity, including a televised exposé by Headlines Today. Shortly after the broadcast, Speak Asia Online held a press conference led by its newly appointed CEO, Manoj Kumar. This conference aimed to address public and regulatory concerns and to distance the company from being categorized solely as a survey firm.

During the press conference, Speak Asia Online distributed a press release outlining its main arguments. However, an analysis of this document reveals several points that warrant closer examination. One key clarification from Speak Asia stated that it is not a market research company, but rather a "Panel Service Provider." This distinction, according to ScamTelegraph, suggests a business model heavily reliant on members recruiting new panelists and earning commissions for doing so, a structure often associated with pyramid schemes rather than legitimate multi-level marketing.

Another assurance provided by Speak Asia Online was the stated intention to establish a corporate office by August 2011. This claim, however, has been met with skepticism given the ongoing regulatory challenges the company faces.

A critical point of contention emerged regarding the cost of joining Speak Asia Online. The company asserted that membership was free, requiring only the successful completion of two exams to become a panelist. This statement directly contradicts information found on Speak Asia's own registration page, which details an "examination fee" of $60. The process outlined requires applicants to sit a two-hour written test and undergo a personal interview, with selected candidates receiving a subscription code for registration "without any cost" after paying the initial $60 examination fee. Therefore, joining Speak Asia Online is not free.

Furthermore, Speak Asia presented a document from the Singapore Government's Accounting and Corporate Regulatory Authority (ACRA) to the media, describing it as a "Certificate of compliance." While the document, a "certification of good standing," does exist for "Speak Asia Online," it specifies the company's operations as a "web portal" and, notably, "Infocomm Market Research." This contradicts Speak Asia's earlier assertion in the same press release that it is not a market research company, creating a significant inconsistency in its official statements.

What is Speak Asia Online's primary defense against regulatory concerns?

Speak Asia Online's primary defense involves issuing a press release and holding a legal conference, led by CEO Manoj Kumar, to clarify its business model and assert its legitimacy. The company aimed to distance itself from being solely classified as a market research firm.

How many regulators have initiated action against Speak Asia Online?

At least five government regulators have initiated investigations and action against Speak Asia Online, following mounting concerns about its operational practices.

What contradiction emerged regarding Speak Asia's business description?

Speak Asia Online claimed it was not a market research company but a "Panel Service Provider." However, a "certification of good standing" from Singapore's ACRA listed the company's activities as including "Infocomm Market Research," directly contradicting its public statement.

Is it possible to join Speak Asia Online without paying a fee?

No, it is not possible to join Speak Asia Online without paying a fee. Despite claims of free membership, the company's registration process requires applicants to pay a $60 examination fee to take the necessary tests for selection as a panelist.