Gaming giant Tencent latest to set up hub in Singapore

HONG KONG/SINGAPORE (Reuters) – Gaming giant Tencent Holdings Ltd said on Tuesday it would develop a regional hub for Southeast Asia in Singapore, opening a new office and becoming the latest Chinese tech firm to invest in the city-state. He also noted Tencent had several minority investments in Southeast Asia such as its stake in Singapore online gaming and e-commerce firm Sea Ltd, and has been making deeper forays into the region’s gaming market. Offering lucrative grants and incentives, Singapore has been ramping up its efforts to lure tech firms and investors in recent years. Alibaba, which owns Singapore-based e-commerce firm Lazada, this year bought a 50% stake in a Singapore office tower. In addition to the Chinese investments, America’s Zoom Video Communications has recently opened a new data centre in Singapore.

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