September 2020, TikTok owner ByteDance have announced plans to make Singapore headquarters in Asia. The China-based company reportedly worth USD100 Billions already has over 400 employees in Singapore. Their plan is to further invest billions of dollars and to add on hundreds of employees in Singapore over the next three years. TikTok had also moved some engineers to Singapore from China this year.
It was further reported last month, that ByteDance has signed an agreement to move into a bigger office in Singapore. The lease will cover three floors of One Raffles Quay measuring over 60,000 sqft.
It is definitely fantastic news for Singapore!
REACTION OF MAINLAND CHINESE
My best friend who has many private banking clients in China told me the reaction of his Chinese clients to this TikTok’s announcement.
They said (translated from Mandarin to English),
“Singapore got talents meh? End of the day, also need the Chinese people coming over Singapore and live as expats to do the core most important jobs. It will be a complete waste of money and resources!”
BUSINESS TIMES HEADLINES
Today’s Business Times Front Page reads,
“Movers and shakers of the tech world: Singapore wants you!”
- Singaporeans are only good for CEOs of REITs that are in general “more or less” run by itself compared to many other industries’ businesses? When it comes to innovation and growth? hmmm…
- Or maybe because several local big listcos are backed by our country leaders, perhaps our own country leaders do not think Singaporeans are up to the mark to hold leadership positions in local backed Corporations? Is it true that Singaporeans are only good to be SAF or Government or Stat-board leaders?
- Could our suppressed nature of always obeying to authority without the ability or guts to voice our own opinions or to break boundaries have caused this phenomenon?
- Are we too sheltered with an enclosed mindsets, and the lacking of “real overseas experiences” caused us to always think only: “Singapore, My Family and Me?” without looking at the Global Picture?
- Or perhaps those Singaporeans who have talents, track records, with open mindsets, and international experiences and have guts to voice their opinions have long ago been frustrated by our local system, and already have left and seek opportunities elsewhere, without returning?