ByteDance, as per the sources, will invest billions of dollars and recruit hundreds of people in Singapore over the next 3 years. Also, the firm will move some of the TikTok’s staff from China to Singapore. Earlier there were reports that ByteDance was planning to make Singapore its beachhead for the rest of Asia’s business. And Singapore has also been looking to attract tech firms and investors. Now, US’ restrictions on TikTok can possibly facilitate this.