on a hill ❥ 🇰🇷

A Singapore company owned by 🇨🇳 Alibaba had a financial arrangement with the Malaysian subsidiary of Megaspeed International, a major Nvidia chip buyer under scrutiny over the possible diversion of advanced AI chips to China. Corporate records show that Speedmatrix, Megaspeed’s Malaysian subsidiary, pledged specified IT and network equipment, intellectual property and related rights to Apex Enterprise Solutions (Singapore) under an agreement dated June 18, 2024. The arrangement gave Apex security over the assets should Speedmatrix fail to meet certain contractual obligations. Malaysian corporate records show that the arrangement remained active as at Nov 11, 2026. The financial connection was highlighted in a May report by US short-seller Culper Research, which alleged that Alibaba may have channelled billions of dollars through Apex to finance Megaspeed’s purchases of Nvidia chips. The research firm suggested that Alibaba had provided the funds to Apex, which may have passed a substantial portion to Megaspeed for distribution to its overseas subsidiaries. Apex was incorporated in Singapore in July 2023 and it is registered at Lazada One on Bras Basah Road, which is leased by Alibaba and its Southeast Asian online shopping unit, Lazada Group. Accounting and Corporate Regulatory Authority records show that Apex’s immediate holding company is Cloud Intelligence (Cayman) Holding. Its ultimate holding company is Alibaba Group Holding, which is incorporated in the Cayman Islands and has contractual rights to Alibaba China’s profits. Apex, in its audited financial statement for the financial year ended Mar 31, 2025, described its business activity as “providing procurement activities”. Its corporate records also showed that Yuan Qian served as a director from Aug 2023 to Aug 2025. The name matches the Chinese name of Selina Yuan, a former Alibaba executive who has headed Alibaba Cloud’s international business in Singapore, but it’s unclear if she is the director named in Apex’s records. 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. Apex’s auditor is PwC. Alibaba was one of Megaspeed’s major customers for its Southeast Asian cloud service operation. 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 Aug 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 GPUs, which arrived on Nov 18, 2025. The top receivers of Megaspeed’s shipments were Speedmatrix and PT Megaspeed International Indonesia. 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 Oct 2025 that they were investigating Megaspeed over “suspected breaches of our domestic laws”. 1/n straitstimes.com/business/al…

러시아가 우크라이나 아동들을 강제 이주시키는 과정에 북한도 관여하고 있다는 지적이 유럽의회에서 제기됐습니다. 유럽의회는 12일 채택한 결의안에서 북한을 러시아의 우크라이나 아동 강제 이주를 돕는 국가 중 하나로 지목했습니다.