Singapore’s government has broken its silence on China’s decision to block Meta’s $2 billion acquisition of AI agent startup Manus, which is based in the city-state, saying the intervention did not violate local laws, reports Caixin.
Addressing the issue publicly at the Singapore-China Forum on Monday, Chee Hong Tat, Singapore’s national development minister and deputy chairman of the Monetary Authority of Singapore, said the government had no need to comment earlier. Singapore respects the national security considerations of both China and the US, he said.
The official also said whether a technology company is allowed to leave its home country and relocate to Singapore is not decided by Singapore but by the home country’s government based on national security concerns. Singapore focuses on providing a stable environment and a global base for companies to operate and raise capital rather than focusing on a firm’s origin or industry, he noted.