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TikTok owner ByteDance plans to invest billions of dollars in Singapore
- Saturday | 12th September, 2020
(Reuters) – TikTok owner ByteDance plans to invest billions of dollars and recruit hundreds of employees in Singapore after opting to base its Southeast Asia regional headquarters there, a person familiar with the matter said. The Chinese firm is being forced by President Donald Trump to sell TikTok’s US assets to avoid a ban in United States. ByteDance decided last year to locate its regional headquarters in Singapore, which in recent years has ramped up efforts to attract tech firms and investors, the source said. However, the source told Reuters that ByteDance has yet to make a decision about such a move, while another source said TikTok had this year moved some engineers there from China. (Reporting by Yingzhi Yang in Beijing, Aishwarya Nair in Bengaluru, and Aradhana Aravindan in Singapore; Editing by Sherry Jacob-Phillips, Anil D’Silva and Alexander Smith)
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