Alibaba-Megaspeed financing link traced via Singapore, Malaysia units amid Nvidia chip scrutiny – Asia News Network

Apex’s current directors are Gong Zhengyuan, Zhu Bofu and Madelyn Kwang Yeit Lam, a Singaporean who also serves as the company secretary.

Kwang has also been listed as a director and secretary of Alibaba Cloud (Singapore) since 2016. She did not respond to ST’s queries.

Apex’s auditor is PwC. When contacted, a spokesperson said: “This relates to a client matter, we are therefore unable to comment.”

The Financial Times reported in November that Alibaba was one of Megaspeed’s major customers for its South-east Asian cloud service operation.

Alibaba and Megaspeed did not respond to ST’s queries on the nature of their commercial relationships and whether the relationships have remained intact with investigations into Megaspeed.

Megaspeed’s overseas network

Megaspeed owns seven subsidiaries across five overseas markets, according to its financial statements for 2024, which are its latest publicly available records.

Three are in Malaysia: Speedmatrix, Megaspeed International Sdn Bhd and MSFusion. All three are private limited companies.

Speedmatrix and Megaspeed International Sdn Bhd were described as cloud-hosting service providers. MSFusion was classified as dormant at end-2024, but it entered a RM263.2 million (S$82.8 million) agreement to buy a site in Johor for a proposed data centre, according to the seller’s bourse filing in August 2025.

Megaspeed also owned 99.99% of Megaspeed (Thailand) and 99% of PT Megaspeed International Indonesia, both cloud-hosting businesses.

The other two Megaspeed’s wholly owned subsidiaries are in Australia and the US.

Megaspeed’s latest shipment recorded on corporate intelligence platform Sayari was to Speedmatrix – an Nvidia baseboard for high-performance graphics processing units, which arrived on Nov 18, 2025.

The top receivers of Megaspeed’s shipments were Speedmatrix and PT Megaspeed International Indonesia, according to Sayari.

Official scrutiny

Megaspeed has attracted international attention because of its massive purchases of Nvidia’s advanced AI chips, some of which are subject to US export restrictions intended to limit China’s access to powerful computing technology.

The US authorities began investigating Megaspeed over suspicions that it breached US chip export restrictions in late 2024.

The Singapore police confirmed in October 2025 that they were investigating Megaspeed over “suspected breaches of our domestic laws”.

The firm drew more scrutiny in late October 2026, when news broke that the US was concerned about Nvidia chief executive Jensen Huang’s close ties to Alice Huang, also known as Huang Le, Megaspeed’s former director and managing director.

On Nov 8, Jensen Huang admitted to having an affair. He resigned on Nov 12.

Access to Megaspeed’s office at Ocean Financial Centre is restricted. It showed no signs of activity when ST visited the office in October 2025. A tenant then told ST the office was empty “for as long as it has been” there.

On Nov 11, ST visited the registered address of Swiftdata, the little-known Singapore company that owns Megaspeed, and found it seemingly occupied by an interior design firm, whose co-founder denied knowing Swiftdata, Megaspeed or any of their affiliates.

ST was unable to contact Swiftdata or its sole director Tan Yong Pong, who was appointed Megaspeed’s director in 2023 on the day Alice Huang left the board.

A statement on Megaspeed’s website posted on Nov 12 said it has engaged a US law firm to “lead a comprehensive census of its graphics processing units and independently verify its export control compliance practices”.

The statement was attributed to Tan, who signed off as the company’s chairman and chief executive.