A Quick Back Story:

After the recent hostile takeover of Fastacash in October 2016, the company had gone through a restructuring mode which saw head counts being slashed on a monthly basis.

A new General Manager - Mark Carter - were announced to facilitate the restructuring and to lead the company to a brighter direction. Staff were ensured that things will carry on as usual and investment funds in the tune of USD10M will be injected into the business to ensure continuity and restructured into a bigger entity moving towards an IPO.

As the head honcho of Fastacash, the GM has time and again reiterated that he will be the person to go to for assistance, will be transparent and honest when dealing with all staff and will do what he could to ensure all due salary is paid.

As the weeks went by, it became apparent that the GM was just the opposite of transparent, honest and fair.

He failed to empower HR to do the right thing for staff. He failed to empower our Financial Controller to put in a proper succession plan in place as he is leaving soon which will become an issue with salary processing. He failed to champion the needs and well being of Fastacash's hard working staff. He failed to put in place proper contingency plans to cover unforeseen circumstances and business proper. He failed as our GM.

It's already coming to two months since then and no salary is paid. Staff were retrenched in the same condition with their last day of work coming up in 29/12/2016 with no salary in place yet.

When asked, the GM always give a half-ass answer that funds will be coming in next week but complete with a back door condition that he is not sure if that would be enough to pay salary.

We continue to chase our GM for answers and he has direct access to the Board of Directors and Shareholders and time and time again avoided us like the plague and when we do get an answer through another party, the answers were the same: "...next week..." Week after week.

Until it comes to the point pretty quickly where he refused to reply our emails and take our calls and just left us hanging.

Insurance coverage as promised in the employment agreement were let lapse in Oct and not renewed and hence, no one in the company were covered.

Monthly approved claims submitted were not cleared/paid as well.

Worst part is he is supposedly based out of UK and refused to come to Singapore to lead us through the restructuring like a gentlemen and a responsible leader.

He runs the company without any consideration to the well being of staff whom are still performing their duties up to today - including those he retrenched but not having the balls to do the communication proper himself but chose to hide behind his ivory wall.

A lot of staff were left in dire straits when most of us rely on the pay cheque to survive, take care of families and pay rental and other necessities. There were no word of empathy nor genuine query if everyone is OK from our GM - just silence for weeks now.

We then came to know that all our vendors were also not been paid neither.

It's obvious that he knows more than he is telling - and he is not even telling us anything except lies.

And all we want to to be treated fairly and honestly.

Call for Action:

1. All due salaries paid with fair compensation - That's for November and December salary plus compensation for putting staff through mental torture and financial inconvenience.
2. All dues reinstated as per fair employment agreement - That's for clearing of claims submitted and approved as well as group insurance coverage.
3. Mark Carter - Fastacash's GM - to step down with immediate effect - This will allow for another person to step up to lead and make a difference.

Thank you for your support. We need all the help we could get.