I am actually an accommodation provider in Australia, and receive booking requests from AsiaRooms thru my Inbound Tour Operator, a large and legitimate Australian business whom I work with to attract the European traveler. However, the problem with AsiaRooms from my perspective is two-fold:
1. Due to the nature of their business, AsiaRooms will nearly always have to check with the actual accommodation provider first to see whether there is a vacancy. This request has to go via the above mentioned ITO, and therefor could take up to 24 hours. But the way in which their website is set out and the fact that one has to submit credit card details may (falsely) give the impression the booking is made in real time!
2. Despite the fact that AsiaRooms mentions on the booking page that
quote
the status of the reservation you requested is "Credit card verification in process". This reservation is not yet confirmed. We will keep you informed of the status of your reservation request by E-mail, and will E-mail a reservation confirmation voucher to you when we are able to confirm your reservation unquote
the whole layout of that page is confusing since it looks like an official booking ("Secure Hotel Reservation" at the top, "Your Reservation Details" in the middle, "Your Room" and tariff details further down), and is very easily mistaken for a proper confirmation. In the last two days I have had two guests show up with what they thought was a booking confirmation, only to be told that it wasn't and that I had no availability at all.

Tariffs as listed on AsiaRooms are as provided to my ITO, but AsiaRooms makes it appear that they have access to my room inventory (which they don't) and therefor creates a false impression that those rooms are available (which they aren't, especially at the moment since we're booked solid!). Anyone who's desperately looking for accommodation is easily led to believe that he/she has been lucky to find a spot (especially during peak season or special events) and may overlook that "reservation request status" disclaimer!