Tencent announced plans to build a digital hub of operations in Singapore to serve customers throughout southeast Asia.
In August, Tencent reported 1H2020 revenue of RMB222.948 billion (US$31.492 billion), an increase of 28% over the first half of 2019.
- Bytedance and Alibaba have also recently announced plans to invest in Singapore. These announcements follow the recent decision by India to ban Chinese applications.