Calvin Cheng

Last updated

Calvin Cheng
郑恩里
CalvinCheng.jpg
Nominated Member of Parliament
In office
18 July 2009 –19 April 2011
Personal details
Born
Calvin Cheng Ern Lee

(1975-09-24) 24 September 1975 (age 48) [1]
Singapore
Alma mater Hertford College, Oxford
OccupationBusinessman
Website calvincheng.sg

Calvin Cheng Ern Lee is a Singaporean businessman and former Nominated Member of Parliament. Cheng is known for his views on socio-political issues in Singapore. He began his business career in the modeling industry and expanded into event hosting, publishing, and educational technology.

Contents

Education

Cheng earned his undergraduate degree in Philosophy, Politics and Economics at Hertford College, Oxford University. He later earned a master's degree in industrial relations. In 2017, he made a donation to Hertford to establish a prize for PPE students. [2]

Business career

Cheng was the Asia-Pacific head of Elite Model Management from 2001 to 2004. [1] [3] [4] During his tenure, he opened an Elite agency in India while developing other projects in the region. [5] [6] In 2004, Cheng set up Elite Models Singapore Pte Ltd. The company was renamed Looque Models Singapore Pte Ltd in 2005. [7] : 6–7  Through Looque he ran several franchising businesses in the fields of luxury events, media, and talent management in entertainment and business. [8] Cheng ran Ford Models Supermodel of the World competitions under license from Ford in China in 2007 and in Malaysia in 2011. [9] [10] The World Economic Forum named Cheng a Young Global Leader in 2009. [11]

On 23 November 2011, several model agencies, including Looque Models, were fined for price fixing. [12] [13] They fixed prices on modelling services through the Association of Modelling Industry Professionals (AMIP) from 2004, continuing after anti-competition laws were in effect. [14] Cheng claimed in defense that the goal was to raise wages for models. [15] The Competition Commission of Singapore (CCS) ruled that AMIP engaged in anti-competitive price-fixing that resulted in customers paying more, causing an adverse impact on the market. [16] [17] CCS noted that as president of AMIP, Cheng played a central role by instructing AMIP members how to mask the collusion to evade detection and complaints. [7] : point 213h, page 95  [18] Cheng's appeal of this ruling was dismissed because he had not been personally fined. [19]

In August 2015, Cheng merged one of his franchise businesses, Lumina Looque Knowledge Hubs Pte Ltd, with a Chinese firm called ReTech that focused on educational technology, [20] [8] [21] and led the company to IPO on the Australian Stock Exchange in June 2017. [22] In June 2023, Retech Technology Co issued an announcement that Calvin Cheng had resigned his directorship in the company. [23]

In May 2022, Dubai's Virtual Assets Regulatory Authority awarded a provisional virtual asset license to Cheng's company Web3 Holdings FZE, [24] a non-fungible token (NFT) and fan token cryptocurrency investment company. [25]

In February 2023, Cheng's digital asset management company, Damoon Technologies, which allowed fiat money to cashless cryptocurrency transactions and vice-versa, was officially given regulatory approval by FINMA, Switzerland’s financial services watchdog. [24] In August 2023, Anchored Coins, formerly known as Damoon Technologies, issued two fiat-backed stablecoins AEUR and ACHF on two major public blockchains. [26]

Government roles

In July 2009, Cheng was appointed to a 2+1⁄2 year term as a Nominated Member of Parliament in Singapore's 11th Parliament. [27] As NMPs are supposed to reflect nonpartisan views, the newspaper Today questioned his appointment in light of his membership in Young PAP. [28] Cheng resigned from Young PAP shortly thereafter. [29] [30] His term as an NMP ended after 21 months when Parliament was dissolved during the general elections. [31]

In 2012, Cheng was appointed to the newly formed Media Literacy Council (MLC) of Singapore's Ministry of Communications and Information, which was created to "promote civility and responsibility on the Internet". [32] [33] He served two two-year terms on the MLC. [34]

In November 2022, the prime minister of Serbia appointed Cheng as the first honorary consul of Serbia to Singapore to establish closer ties with the country. Prior to his appointment, the ambassador in Jakarta would assist Serbian interests. [35]

Socio-political views

Cheng often posts his views on socio-political issues in Singapore on Facebook, and is known for attracting controversy at times for his outspoken views. [36] [37]

In November 2015, while he was on the Media Literacy Council, Cheng advocated for the killing of children of terrorists on the Facebook page of entrepreneur and commentator Devadas Krishnadas. [38] His comments led to a verbal warning from Tan Cheng Han, the Chairman of the MLC. Cheng apologized to the MLC. [39] [40]

Amos Yee, a teenager who had been previously jailed for comments offensive to the Singaporean government, was convicted and jailed in 2016 for "hurting religious feelings" in his online responses to Cheng's Facebook posts. [41] [42] In March 2017, a United States judge granted Yee political asylum, citing the different ways that Cheng and Yee had been treated, where Cheng was not charged, and Yee was charged and convicted. [43]

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References

  1. 1 2 "CV-Calvin Cheng". Parliament of Singapore. Archived from the original on 19 January 2011.
  2. ↑ "New Prizes and Awards". Hertford College. 24 October 2017. Archived from the original on 13 January 2018. Retrieved 18 December 2017.
  3. ↑ Guterl, Fred (9 November 2003). "The Global Makeover". Newsweek. Archived from the original on 22 January 2015. Retrieved 22 September 2014.
  4. ↑ Sng, Suzanne (6 November 2003). "Asia's Elite Corps". YaleGlobal Online. Archived from the original on 15 April 2015. Retrieved 29 January 2015.
  5. ↑ Dasgupta, Reshmi R. (5 April 2003). "Interview: 'We'll identify & train new faces'". The Economic Times. Archived from the original on 7 November 2017. Retrieved 5 November 2017.
  6. ↑ Cho, Ines (13 October 2003). "A Korean look for the world". Korea JoongAng Daily. Archived from the original on 18 December 2014. Retrieved 29 January 2015.
  7. 1 2 "Notice of Infringement Decision issued by CCS: Price-Fixing in Modelling Services". Competition Commission of Singapore. 23 November 2011. Archived from the original on 8 December 2017.
  8. 1 2 Millward, Steven (21 June 2017). "From Singapore to China to IPO". Tech in Asia . Archived from the original on 1 October 2017. Retrieved 4 October 2017.
  9. ↑ Ismail, Yus (11 December 2010). "Ford Models Supermodel of the World Malaysia 2011 Joins Hands with 2011 Malaysian Grand Prix". Pageant Island. Archived from the original on 7 November 2017. Retrieved 5 November 2017.
  10. ↑ "Atikah claims supermodel ticket to NY". The Star. 11 April 2011. Archived from the original on 7 November 2017. Retrieved 5 November 2017.
  11. ↑ "S'pore 5 on list of young global leaders". The Straits Times. 28 February 2009. Archived from the original on 26 September 2018. Retrieved 23 September 2018.
  12. ↑ Bishop, Stewart (23 November 2011). "Singapore Fines 10 Modeling Agencies For Price-Fixing". Law360. Archived from the original on 7 November 2017. Retrieved 5 November 2017.
  13. ↑ "CCS Case 500/002/09: Price fixing of rates of modelling services in Singapore by Modelling Agencies". Competition Commission of Singapore. Archived from the original on 18 December 2017.
  14. ↑ Ng, Esther (24 November 2011). "Model agencies fined for anti-competitive practices". Today . Archived from the original on 25 November 2011.
  15. ↑ Janice Heng (9 May 2013). "Agencies which fixed prices had 'noble goals'". The Straits Times. Archived from the original on 10 January 2015. Retrieved 6 January 2015.
  16. ↑ "CCS's reply to Straits Times report on 6 May titled "Agencies which fixed prices had 'noble goals'"". Competition Commission of Singapore. 9 May 2013. Archived from the original on 8 December 2017. Retrieved 28 April 2019.
  17. ↑ Tay, Kelly (24 November 2011). "Modelling agencies fined $362,000 for price fixing". Business Times. p. 10.
  18. ↑ Anandarajah, Kala; Lombardi, Dominique (22 April 2013). "The Singapore Competition Appeal Board reduces the financial penalties against 5 modelling agencies found by the Competition Commission to have fixed the rates of modelling services (Bee Works Casting, Diva Model, Impact Models Studio, Looque Models Singapore, Ave Management)". Concurrences (April 2013). ISSN   2116-0201.
  19. ↑ "Appeal 1 of 2012" (PDF). Competition Commission of Singapore. 23 November 2011. Archived from the original (PDF) on 22 July 2018.
  20. ↑ "Chinese ed-tech firm ReTech seeks $112 million ASX IPO". Asian Financial Review. 5 February 2017. Archived from the original on 7 November 2017. Retrieved 1 November 2017.
  21. ↑ "Retech Prospectus" (PDF). Retech. February 2016. Archived from the original (PDF) on 6 November 2017.
  22. ↑ "China's ReTech lists on ASX, chair blasts lack of Australian investors". Financial Review. 22 June 2017. Archived from the original on 14 December 2017. Retrieved 13 December 2017.
  23. ↑ https://www.marketscreener.com/quote/stock/RETECH-TECHNOLOGY-CO-LI-35897691/news/Retech-Technology-Co-Limited-Announces-Board-Resignations-44239003/ Retech Technology Co., Limited Announces Board Resignations
  24. 1 2 Claire Huang (10 February 2023). "Former NMP Calvin Cheng's digital asset firm receives Swiss regulatory approval". The Straits Times.
  25. ↑ Wong Pei Ting (23 May 2022). "Ex-NMP Calvin Cheng sets up NFT, fan token investment company in Dubai". Business Times.
  26. ↑ Huang, Claire (16 August 2023). "Singaporean-backed Anchored Coins launches stablecoins pegged to euro and Swiss franc". The Straits Times. ISSN   0585-3923 . Retrieved 26 April 2024.
  27. ↑ Abdullah Tarmugi(Speaker)," Nominated Members of Parliament (Announcement by Mr Speaker) ",Singapore Parliamentary Debates, Official Report (20 July 2009), vol. 86, col. 798
  28. ↑ Esther Ng (8 July 2009). "A question of party" (PDF). TODAY. p. 6. Archived (PDF) from the original on 14 December 2017. Retrieved 14 December 2017.
  29. ↑ Talib, Ameen (17 June 2014). "Improving the system for selecting NMPs". TODAYonline. Archived from the original on 6 September 2017. Retrieved 5 November 2017.
  30. ↑ Esther Ng (9 July 2009). "NMP-designate quits young PAP" (PDF). TODAY. p. 6. Archived (PDF) from the original on 14 December 2017. Retrieved 14 December 2017.
  31. ↑ "Search begins for new NMPs". The Star. 4 November 2011. Archived from the original on 7 November 2017. Retrieved 5 November 2017.
  32. ↑ Media Development Authority of Singapore, a statutory board under the Ministry of Information, Communications and the Arts. 30 July 2012 Press Release: New Council to oversee cyber wellness, media literacy initiatives
  33. ↑ Loh, Andrew (31 July 2012). "Bloggers question aim of Media Literary Council". Yahoo! News SingaporeScene. Archived from the original on 7 November 2017. Retrieved 6 November 2017.
  34. ↑ "The silence of the Media Literacy Council". The Online Citizen. 22 July 2016. Archived from the original on 22 December 2017. Retrieved 20 December 2017.
  35. ↑ Belmont Lay (18 November 2022). "Ex-NMP Calvin Cheng appointed Serbia's first honorary consul to S'pore". Mothership.
  36. ↑ Tang, Louisa (15 July 2015). "The Big Read: In the Facebook era, whither quality public discourse?". Today (newspaper). Archived from the original on 17 November 2017. Retrieved 16 November 2017.
  37. ↑ Chia, Lianne (27 July 2016). "Dealing with online lynch mobs: How companies should react". Channel NewsAsia. Archived from the original on 1 December 2017. Retrieved 24 November 2017.
  38. ↑ Zannia, Neyla (10 October 2016). "Police closes case of former NMP Calvin Cheng, calling for kids of terrorists to be killed". The Online Citizen. Archived from the original on 13 December 2017. Retrieved 14 December 2017.
  39. ↑ "Calvin Cheng's 'killing children' remarks 'insensitive and inappropriate': MLC chairman". Today Online. 27 November 2015. Archived from the original on 20 February 2016. Retrieved 19 March 2016.
  40. ↑ Chew Hui Min (28 November 2015). "Calvin Cheng's comments on 'killing children' insensitive, but not hate speech, says Media Literacy Council". The Straits Times. Archived from the original on 4 October 2017. Retrieved 26 March 2017.
  41. ↑ "Blogger Amos Yee arrested again". The Straits Times. 13 May 2016. Archived from the original on 14 May 2016. Retrieved 5 November 2017.
  42. ↑ En, Siau Ming (29 September 2016). "Amos Yee jailed 6 weeks, fined for hurting religious feelings". TODAYonline. Archived from the original on 25 December 2016. Retrieved 5 November 2017.
  43. ↑ Philemon, Jewel (26 September 2017). "Amos Yee is deserving of asylum, US Board of Immigration Appeal rules". The Independent. Archived from the original on 7 November 2017. Retrieved 5 November 2017.
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