The Megaspeed mystery: Who’s the Singaporean behind firm at centre of Nvidia chips probe?
Sign up now: Get ST's newsletters delivered to your inbox
Megaspeed is under a widening probe over possible breaches of export laws involving advanced Nvidia AI chips.
ST PHOTO: ANGELA TAN
Follow topic:
- Tan Yong Pong is the sole director of Megaspeed, the company under investigation for potential export law breaches involving Nvidia AI chips.
- Megaspeed is owned by Swiftdata, which is owned by Mr Tan, who has a history of starting and dissolving businesses.
- The registered addresses of his two other live companies in Singapore led ST to a co-woking space and his former company secretary's office.
AI generated
SINGAPORE – His corporate trail stretches across Singapore, Malaysia, China and Taiwan, but the current whereabouts of Mr Tan Yong Pong, the Singaporean behind Megaspeed International, remains unclear.
Mr Tan, 54, is listed as the sole director of the company, which is under a widening probe in Singapore and the US over possible breaches of export laws
When The Straits Times recently visited his residential address in the east of Singapore, a family member said Mr Tan, who also goes by James, does not live there and is believed to be based in China.
According to Singapore corporate records, Mr Tan started his first two businesses in 1996, followed by several others, although most of them have since been struck off, cancelled or terminated.
He is still linked to three live companies, including Megaspeed, which showed no signs of activity when ST visited its office in Collyer Quay last week.
Megaspeed was previously known as 7Road International, a Chinese gaming company with ties to state-backed investors.
Mr Tan came on board as Megaspeed’s director on Nov 10, 2023, shortly after he incorporated Swiftdata, which now owns Megaspeed.
A visit by ST to Swiftdata’s registered address in an office building in Jurong East found that the unit is occupied by a professional services firm.
A director there, who previously served as the company secretary for both Swiftdata and Megaspeed, said it is common for clients to use its office address for company registration.
He declined to comment further, citing ongoing investigations.
Swiftdata, the company that owns Megaspeed, is supposedly located in an office building in Jurong East. Its address led ST to the office of its former company secretary.
ST PHOTO: CHEONG POH KWAN
Mr Tan also owns Monster Investment, which is supposedly located in the same Jurong East office building. However, its address led to a co-working space, where a receptionist told ST there was no record of the company in its membership database.
Corporate filings in Taiwan show that Monster Investment is a significant shareholder of mobile gaming company Gamonster.
Malaysia’s corporate records show that Mr Tan has also been a director of Speedmatrix since it was incorporated in February 2024. Speedmatrix is owned by Megaspeed and has two addresses in Johor.
According to The New York Times, Speedmatrix is used to receive shipments of Nvidia chips from the US
A former investment banker in Malaysia joined Speedmatrix as a director in July. He did not respond to ST’s queries.
On LinkedIn, Mr Tan, who has a degree in graphic design, described himself as someone with “vast experience” in various industries including online gaming, lottery, telecommunications, education and advertising.
He appears to have been active in China since 2005. In 2020, he founded Moss Pond Holdings, a Hong Kong-based firm whose line of business is unclear.
In 2022, he started two other companies in Singapore – Rare Craft Foundation and Infinite Value Foundation – before he got involved with Swiftdata and Megaspeed in 2023.
Corporate records retrieved this week showed the status of both Rare Craft Foundation and Infinite Value Foundation as “struck off”.
Mr Tan Yong Pong owns a company called Monster Investment. Its registered address led ST to a co-working space in an office building in Jurong East.
ST PHOTO: CHEONG POH KWAN
Megaspeed was little-known until it committed to buying US$2 billion (S$2.58 billion) worth of Nvidia’s chips, and was later probed for its alleged role in helping Chinese technology firms skirt US export controls on advanced AI chips.
When 7Road was renamed Megaspeed in March 2023, it was owned by Huang Le Limited and led by Ms Huang Le. The ownership was later transferred to Mr Tan’s Swiftdata in November 2023.
Ms Huang, who also goes by Alice, was seen at the Computex 2024 party in Taipei
The Singapore police have confirmed that investigations into Megaspeed are ongoing for suspected breaches of local laws.
The Economic Development Board said Singapore expects companies here to comply with domestic laws, as well as those in the jurisdictions where they operate.
In response to ST’s queries, Malaysia’s Ministry of Investment, Trade and Industry (Miti) said the country has strengthened regulatory oversight on the export of advanced AI chips, requiring exporters to obtain a permit for any export, transit or trans-shipment involving goods or technologies that could contribute to weapons of mass destruction or military end use.
“While we cannot comment on existing investigations, if any, of companies not registered in Malaysia, we welcome the sharing of credible, verifiable information from any partner country to assist in investigating suspected illicit trade activities within Malaysia’s jurisdiction,” a Miti spokesperson said.
Additional reporting by Shannon Teoh, Lu Wei Hoong and Yip Wai Yee
