It is recruiting for various positions including tech and business development, the company said, without offering details. Tencent currently has dozens of job openings in Singapore for businesses including cross-border commerce, cloud computing and e-sports, according to its hiring site.
Singapore in particular is attracting attention as a regional base for both Western and Chinese corporations because of its advanced financial and legal system, and as Beijing tightens its grip on the city of Hong Kong. The city state of under 6 million people has been careful not to take sides in the stand-off between the world’s two superpowers, with Prime Minister
pledging last year to remain “good friends” with both the US and China.
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to spend several billion dollars and add hundreds of jobs in Singapore over the next three years, Bloomberg News reported last week. It has also
from the city state’s central bank, alongside Alibaba-backed Ant Group and Tencent-backed Sea.
Alibaba has splashed out US$4 billion to take full control of Singapore-based regional e-commerce platform Lazada, which aims to serve 300 million people in Southeast Asia by 2030. In May, Alibaba struck a deal to
, valued at around US$1.2 billion, underscoring its ambition to expand in the market.
(Alibaba owns the South China Morning Post.)
China’s largest corporation is in talks to invest US$3 billion into Singapore-based ride-hailing giant Grab Holdings, Bloomberg News reported on Monday.
Tencent thus far has had a smaller footprint in Southeast Asia. The online entertainment juggernaut is largely run from its Shenzhen headquarters, though some global products in areas like music and video streaming operate in Hong Kong, where President Martin Lau is based. The company says it stores some user data in Singapore.
In recent years, Tencent has ratcheted up efforts to expand globally as the Chinese market saturates and stricter regulatory controls on gaming slow down domestic growth. Tapping into popular franchises from investees like
and turning them into mobile hits marked its biggest global successes so far.
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In 2019’s final quarter, international titles like Call of Duty Mobile and PUBG Mobile accounted for 23 per cent of Tencent’s US$17 billion gaming empire, according to the company.
In spite of Tencent’s best efforts, however, geopolitical frictions are still likely to hinder its international expansion push.
South Korea’s PUBG has
for PUBG Mobile
in India, after the country banned the popular mobile shooter alongside more than a hundred Chinese-made apps amid border clashes.
Trump’s August 6 executive order, meanwhile, prohibits unspecified transactions with WeChat and its operator Tencent, and the Commerce Department has yet to determine whether gaming activities will be banned by September 20.