By Yingzhi Yang and Aishwarya Nair
(Reuters) - ByteDance, the owner of popular short-video app TikTok, is planning to invest billions of dollars and recruit hundreds of employees in Singapore over the next three years, a person familiar with the matter told Reuters on Friday.
The company's plans about setting up a new data centre in the city-state is untrue, the source said, adding that the Beijing-based firm had stepped up the purchase of cloud-computing servers in Singapore to backup U.S. data for contingency.
Separately, a company source said TikTok had moved some engineers to Singapore from China, starting this year.
Bloomberg earlier reported that ByteDance was planning to make Singapore its beachhead for the rest of Asia as part of its global expansion.
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