Tencent Picks Singapore as Asia Hub

Sharon we're also hearing that tencent is looking to base its operations in singapore why are chinese companies looking to singapore as a base yeah i mean tencent um along with alibaba and um by dance as

Well are looking at southeast asia quite closely right now for in the case of tencent and bite dens both those companies are looking to set up offices

In singapore making the study the regional hub these may involve massive investments and and and hundreds of jobs um in the case of bite dones um i think our reporting shows that um they're looking

At billions of investments and and all three companies are involved in applying for a digital banking license in singapore which will be likely decided this year and for why for singapore i mean it's a small market but

It offers advanced infrastructure and a developed legal framework that makes the city appealing um and more importantly is the gateway to southeast asia which has more than 650

Million people and um relatively fast-growing economies and underpenetrated markets and if we continue to see this kind of tech war between us and china are the geopolitical tensions also

Driving this move to singapore as well she definitely i mean that that's going to weigh on the minds of any tech company coming out from china right now um both tencent and bait dance have

Of course already been caught in the crosshairs of the u.s campaign against china and chinese companies tiktok and wechat are facing a ban from doing business

That that's going to come into effect this month and outside of china tech companies are also facing increasing hostility and therefore example has already been ticked up and wechat as well as 100

Other chinese apps so they're going to be looking elsewhere including in southeast asia