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Chinese internet giant Tencent Holdings is expected to mitigate its recent setbacks in the United States and India, according to analysts, with the opening of a new office in Singapore, a move designed to broaden its operations across Southeast Asia.
Establishing a new regional hub in Singapore is “a choice for Tencent to mitigate risks” amid trade restrictions in the US and India, said Shawn Yang, Shenzhen-based managing director of Blue Lotus Capital Advisors.
Tencent’s move to Singapore and a renewed focus on Southeast Asia have come after the company found itself caught in the middle of geopolitical tensions between Beijing and Washington.
The Trump administration plans to ban business transactions in the US with Tencent’s ubiquitous social media app WeChat from Sept 20.
WeChat and other Tencent apps have also been blacklisted by New Delhi, following a clash between Indian and Chinese troops in a disputed Himalayan border in June.
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