Tencent´s new Asian regional hub will be in Singapore
The chinese tech giant will shift many of its non-Chinese operations to Singapore.
China's Tencent (OTCPK: TCEHY) has selected Singapore as its Asian beachhead, according to Bloomberg, as it is considering moving some of its business, including international game publishing, out of its home country. In addition to opening a new Singapore office to "support the growing business in Southeast Asia and beyond," Tencent will also be recruiting staff for technical and business development. Southeast Asia has become a major battlefield after the US passed an executive order banning transactions with Tencent and India banned its games PUBG Mobile and Arena of Valor. TikTok parent company ByteDance (BDNCE) is reportedly planning to spend billions of dollars and hundreds of jobs in Singapore over the next three years, while Alibaba (NYSE: BABA) is reportedly in talks to raise $ 3 billion in Singapore's horseback giant tomb to invest.