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Rysense declares being established by MCI as not-for-profit company; HappyDot.sg continues to hide its “ultimate owner”

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3 years ago

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Rysense Ltd, previously unmasked as the sole proprietor of online survey community HappyDot.sg, has recently updated its website stating that it was set up by the Ministry of Communications and Information (MCI) as a not-for-profit company.

The company came under the spotlight last year after it was found to be the parent company behind HappyDot.sg, which, at the time, was dubiously carrying a survey seeking to gather people’s views on the high-profile case of Parti Liyani, an Indonesian national acquitted by the High Court last year from theft charges made against her.

Among the questions included in the survey were asking whether the respondent thinks Parti’s ex-employer — former Changi Airport Group chairman Liew Mun Leong — should have stepped down from his corporate appointments, and whether the respondent thinks Singapore’s criminal justice system is fair for all.

Background checks on HappyDot.sg then led to the discovery of Rysense, which appeared to be headed by five directors — all of whom are senior civil servants — and one Malaysian secretary.

The following names were listed as directors of Rysense in documents obtained from the Accounting and Corporate Regulatory Authority (ACRA):

  • Kwek Poh Heok, a Deputy Principal Private Secretary to the Deputy Prime Minister, Minister for Finance and Coordinating Minister for Economic Policies;
  • Yeo Ken Jin, an Adjunct Associate Professor at the Lee Kuan Yew School of Public Policy at the National University of Singapore;
  • Wong Wee Kim, Chief Statistician at the Ministry of Trade and Industry;
  • Tan Chor Kiat, a Senior Director of Industry Division at the Ministry of Trade and Industry; and
  • Leong Der Yao, a Senior Director at Government Technology Agency (GovTech), a body under the Prime Minister’s Office.

It was also discovered that Rysense had also employed former employees of government-linked entities to work in different departments in the company.

That report was followed by revelations of Rysense conducting surveys commissioned by the MCI in past years.

Claims emerged that these MCI-commissioned surveys contain questions with possible political nuances.

In one instance in 2018, Ervin Tan, who formerly represented Amos Yee as the latter’s defence lawyer, said that he was approached by Rysense’s surveyor to complete MCI’s “News Consumption Survey”.

“Rather intriguingly,” he said — at the end of the survey — that he was “asked (among other questions), on a scale of one to ten (being strongly disagree or strongly agree)” about whether “Singapore headed in the right direction” and “is the Prime Minister doing a good job”.

What’s more, Rysense had earlier published a job advertisement on Jobstreet, in which it was implicitly stated that the company does generate profits from these projects.

Based on its job posting for the Head of Specialised Research and Business Development position last year, it stated that the “primary responsibility” of this role is to grow the company’s business “to achieve financial revenue targets”.

The new Head of Specialised Research and Business Development at Rysense will be reporting to the director, and is expected to “partner the director to seek new business and engage strategic clients”.

As the company is declared as a Company Limited by Guarantee (CLG), it has no share capital and is prohibited from paying dividends or surplus to its respective members.

Alternatively, it could retain the profits in the company or use them to achieve the company’s objectives.

That being said, Rysense’s ownership of HappyDot.sg gives it a tool that could be used to push out government messages under the guise of a private company.

HappyDot.sg does not disclose that it is “owned” by the Government.

Instead, it obscures its funding sources by saying that it conducts surveys “on behalf of organisations with an interest in specific social issues”.

This is in contrast to its parent company, Rysense, which at least informs survey participants that its surveys are commissioned by the Government.

Apart from just conducting surveys, HappyDot.sg also regularly publishes articles on its website, Facebook, and Instagram.

While some of these articles are lifestyle-oriented — such as “Winning a woman’s heart” — many relate to public policy issues such as healthcare and transport.

Given that HappyDot.sg uses the tagline “Inspiring positive change in Singapore”, one must ask whether HappyDot.sg is going beyond just surveying public opinion, and if it is attempting to shape public opinion by publishing articles on public policy issues without disclosing that it is under the Government’s purvey.

Rysense eventually declared itself as a not-for-profit company by MCI

TOC notes that Rysense has updated its website to state that it is a not-for-profit company set up by MCI in 2014 as a CLG, adding that it “does not have shareholders”.

“The revenue we obtain is used to strengthen the company’s research capacity,” said the company.

“We are a team of market research professionals. Our board of directors provide strategic direction and are drawn from both the private and public sectors in view of their expertise in research, technology and corporate governance.”

Rysense also unveiled its chairman, Sim Gim Guan, who is also an executive director at the Singapore National Employers Federation (SNEF).

Mr Sim was also a deputy secretary at MCI from 2007 to 2013.

It appears that Rysense now has four directors, as compared to the five directors listed in the ACRA documents previously:

  • Wong Wee Kim – Chief Statistician at the Ministry of Trade and Industry;
  • Leong Der Yao – Senior Director at Government Technology Agency (GovTech), under the Prime Minister’s Office;
  • Chay Pui San – Director of public affairs and policy at Grab Singapore; and
  • Ivan Yeo – Senior Director of research and data division at MCI.

Ultimately, even though Rysense has finally come clean on its ownership, the million-dollar question still remains: How independent are the surveys conducted by Rysense and HappyDot.sg?

Since it is most likely that the Government will be using public funds to poll public response, will the results from the surveys commissioned by MCI be made public? Or will it seal the survey results that are negative towards the establishment’s narrative?

For example, HappyDot.sg conducted a survey of whether Liew should have stepped down from his corporate appointments and whether the respondent thinks Singapore’s criminal justice system is fair for all.

The purpose of the survey, however, was not specified, which prompted TOC to dig deeper on the company behind HappyDot.sg.

What’s more, as Rysense is a not-for-profit company set up by MCI, does this mean that the Ministry decides the key appointment holders of the company?

Rysense being exposed has led us to wonder how many such rogue companies are there in Singapore that are funded using public money and are helmed by civil servants without being declared as a statutory board or being publicly known.

HappyDot.sg continues to hide its “ultimate owner”

There is, however, little to no information on who commissions the surveys conducted by HappyDot.sg.

The online survey community continued to obscure its parent company even until recently on 5 September, when Ngiam Shih Tung, President of local human rights NGO MARUAH, commented on its post saying: “Who is your ultimate owner? Are you controlled by the Government?”

HappyDot.sg simply replied: “Kindly note that HappyDot.sg is not the Government; We’re a local Singapore organisation that focuses on conducting social research.”

“Some of our surveys are conducted on behalf of organisations with an interest in specific social issues. Others will be for us to provide a good sense of how Singapore residents feel about a range of everyday topics,” it added.

Lawyer Too Xing Ji asked why the company is reluctant to disclose that it is owned by Rysense.

“Of course we know you’re not the Government, just like we know Temasek and GIC are not the Government, but are Government-owned. Why the reluctance to disclose that you are owned by a company set up by the Ministry of [Communication] and Information?” he wrote.

Mr Ngiam in his own Facebook post said that while he has “no objection to the government trying to shape public opinion”, as doing so is “part of the job of leadership after all”, what is worrying is “trying to do it via shell companies (or sole proprietorships in the case of Happydot) that deny their links to the Government”.

“The Health Promotion Board runs public education campaigns all the time, but their logo will always be prominently plastered on their advertisements,” he asserted.

Mr Ngiam continued, “Even the former National Education office (now rebranded as Nexus) runs propaganda campaigns via Connexion.sg, but is upfront about the fact that it is part of Mindef.

“People can read connexion.sg’s posts and come to their own conclusions. Happydot is so far not acknowledging that they are controlled by the Government.”

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Income Insurance respects government’s decision to halt Allianz deal, reviews next steps

Income Insurance Limited has acknowledged the Singapore government’s concerns and decision to halt its proposed partnership with Allianz Europe B.V. The company expressed respect for the government’s direction and emphasised its commitment to reviewing next steps while considering upcoming amendments to the Insurance Act.

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3 days ago

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15 October 2024

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Income Insurance Limited has responded to the Singapore government’s decision to halt its proposed transaction with Allianz Europe B.V., a deal that would have seen Allianz acquire a 51% stake in the insurer for S$2.2 billion (approximately US$1.6 billion).

On 14 October 2024, the company stated it “respects the Government’s direction” and appreciates the recognition of its strategic efforts, noting that it will work closely with stakeholders to evaluate its next steps in light of forthcoming changes to the Insurance Act.

In its statement, Income Insurance said, “Income Insurance notes and respects the Government’s direction. Income Insurance appreciates the Government’s understanding of the strategic purpose behind Income Insurance’s corporatisation exercise in 2022 and acknowledgement that the partnership with Allianz was to strengthen Income Insurance’s position for the long run.”

The company acknowledged the government’s concerns about the structure of the transaction and the need for legislative amendments to provide a clear statutory basis for reviewing similar applications in the future.

The company further recognised the conditional nature of Allianz’s voluntary cash offer, noting that it is “pre-conditional and subject to regulatory approval.”

Following the latest developments, Income Insurance committed to reviewing the proposed amendments to the Insurance Act and stated, “Income Insurance will review and take into consideration the forthcoming amendments to the Insurance Act and work closely with relevant stakeholders to study and decide on the next course of action.”

Government’s Concerns

The government’s decision to block the deal was relayed by Edwin Tong, Singapore’s Minister for Culture, Community, and Youth, who cited concerns over how the transaction might affect Income Insurance’s ability to fulfil its social mission.

While the government acknowledged the strategic importance of Income’s corporatisation in 2022, it expressed concerns about the proposed capital extraction that would follow Allianz’s acquisition.

This capital reduction could significantly reduce Income Insurance’s capacity to continue providing affordable insurance to low-income Singaporeans.

Mr Tong highlighted that Income’s corporatisation in 2022 was enabled by an exemption from Section 88 of the Co-operative Societies Act, which allowed the company to retain an S$2 billion surplus for financial strengthening.

However, the proposed Allianz deal’s capital reduction seemed to contradict this intention. Without a clear, legally binding plan to safeguard this surplus for Income’s social mission, the government was unwilling to approve the deal.

Despite blocking the current transaction, the Singapore government has left the door open for future partnerships involving Income Insurance and potential external investors. Mr Tong clarified that the government’s objection was not to Allianz itself but to the terms and structure of the proposed deal, particularly its impact on Income’s ability to fulfil its social mission.

“The government’s view is not that NTUC Income should not seek partnerships or external capital; rather, we must ensure that any deal preserves NTUC Income’s ability to fulfil its social mission and does not undermine the cooperative movement as a whole,” Mr Tong stated.

Public Response and Opposition

The public and several prominent figures had voiced concerns following the announcement of the deal in July 2024. The proposal for Allianz to acquire a majority stake in Income Insurance raised fears that the insurer’s social objectives could be undermined by profit-driven motives typical of large multinational corporations.

The public outcry centred on concerns that Allianz, as a global insurer, might not share the same commitment to affordable insurance as Income Insurance, which had been serving Singapore’s working-class population for decades.

Critics were particularly worried that Allianz’s ownership could lead to increased insurance premiums, which might put essential services out of reach for Income’s lower-income clients.

Former NTUC Income CEO Tan Kin Lian expressed concerns about the potential shift in NTUC Income’s priorities, stating that the proposed deal could undermine its original purpose.

Similarly, ambassador-at-large Tommy Koh and former Group CEO of NTUC Enterprise Tan Suee Chieh voiced their opposition.

Mr Tan Suee Chieh went as far as to call the deal a “breach of good faith” and urged government regulators to intervene.

NTUC Income, Singapore’s one and only insurance co-operative, was corporatised in 2022 into Income Insurance Limited “to achieve operational flexibility and gain access to strategic growth options to compete on an equal footing with other insurers locally and regionally”.

Shareholders were assured at the 2022 annual general meeting that NTUC Enterprise will continue to be the majority shareholder of the new company post-corporatisation.

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OrangeTee, JustCo partner to empower agents and clients with coworking solutions

OrangeTee & Tie has partnered with JustCo to provide property advisers with enhanced access to flexible workspaces. The collaboration, formalised on 27 September 2024, aims to equip advisers with industry insights and access to JustCo’s network of coworking centres, enabling them to better serve commercial clients.

Published

4 days ago

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14 October 2024

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Singapore’s leading proptech agency OrangeTee & Tie (OrangeTee) has signed a Memorandum of Understanding (MOU) with JustCo, Asia’s leading flexible workspace provider.

The partnership between both parties was inked on 27 September 2024 at the BMW Eurokars Experience Centre.

The collaboration between OrangeTee and JustCo further opens doors to creating more opportunities for OrangeTee’s property advisers, enabling them to “thrive and deliver greater value to their clients”, said a media release issued on 8 October.

As part of the partnership, there will be a series of seminars hosted by JustCo, focusing on the latest trends within the coworking space industry.

These seminars would equip OrangeTee agents with valuable insights to better serve their clients who are interested in flexible office solutions.

This partnership between both parties aims to benefit the property advisers focusing on the commercial client sector as they delve deeper into the industry insights of the office leasing sector in Singapore.

Beyond knowledge sharing, the property advisers will also have access to JustCo’s network of coworking centres across the Asia Pacific to get first-hand experience of the benefits of coworking spaces such as networking opportunities, greater flexibility, and access to a wide range of amenities.

Justin Quek, CEO of OrangeTee said, “This partnership goes beyond business.

“It empowers our property advisers to provide more comprehensive and flexible solutions to their clients, aligning with the evolving needs of modern workspaces.

“By offering JustCo’s vibrant and collaborative environments, our agents can help clients find the ideal spaces for their different business requirements.”

OrangeTee’s property advisers can enjoy a range of perks as part of the partnership.

This includes preferential rates for JustCo’s membership plans which will give them access to over 40 JustCo centres in Singapore and APAC.

With the flexibility to work from anywhere, JustCo’s membership is a dynamic alternative to support their business needs and provides them with opportunities to network and collaborate within the larger commercial community.

Kong Wan Long, Co-founder and Chief Commercial Officer of JustCo said, “Partnering with OrangeTee expands our agency network, allowing us to work with experts who thoroughly understand the property market in Singapore.

“This will allow us to tap into a wider base of potential clients, providing them with greater access to premium coworking spaces that foster productivity and collaboration.

“This collaboration reinforces our commitment to making workspaces more accessible and empowering businesses of all sizes to thrive in an environment tailored to their needs.”

JustCo has the largest footprint in Singapore with 20 coworking spaces in the Central Business District, East and West regions, including the prestigious Marina One office development and Changi Airport Terminal 3.

From January to September 2024, JustCo experienced a 20% increase in enquiries compared to the same period in 2023, highlighting a growing demand for coworking spaces in Singapore. Earlier this year, JustCo also opened a new centre at Hong Leong Building and 108 Robinson Road.

Chipson Ma, one of the long-service property advisers with OrangeTee since 2000, said, “Founded in 2000, OrangeTee has empowered property advisers with cutting-edge technology for over two decades.

“Tools like our online agent portal (Work@Home) and AgentApp allow agents to work seamlessly from anywhere. Our partnership with JustCo further enhances flexibility, providing agents access to coworking spaces they can also market to clients.

“This added convenience elevates the value of our services.”

The partnership with JustCo is the latest to be announced by the proptech leader.

Only recently, OrangeTee also partnered with automotive technology solutions, Motorist, which allowed OrangeTee clients to gain more leverage on their personal vehicle via Motorist while allowing agents and their clients to have access to various perks from the Motorist Premium membership.

This includes car refinancing options to reduce their clients’ total debt servicing ratio and improve their property loan eligibility.

In mid-September, OrangeTee was also the presenting sponsor for The Home Expo 2024 which brought together more than 12,000 property agents, homeowners, industry experts, and exhibitors to the Suntec City Singapore Exhibition and Convention Centre.

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