Dowson Tong, TENCENT (00700.HK)'s Senior Executive Vice President and head of the Cloud & Smart Industries Group, revealed that the group is seeking to enhance its cloud computing business outside of China and plans to expand its data center network in the Middle East, according to foreign media reports.
While TENCENT is "actively" exploring the data center construction plan in the Middle East to serve cloud customers, Tong didn't provide specific timelines or countries for the availability zones.
The report also mentioned that TENCENT had already established an "availability zone" in Saudi Arabia, and that further expansion in the Middle East may lead to more direct competition with US tech giants like Amazon (AMZN.US), Microsoft (MSFT.US), and Alphabet (GOOGL.US).
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AAStocks Financial News
Web Site: www.aastocks.com
| SG Top Picks |
| Stock & Type |
Code |
Strike(Call Level) |
Last |
Effective Gearing |
| TENCT (C) |
23240 |
801.388 (-) |
0.061 |
10.6 X |
| TENCT (C) |
23065 |
759.38 (-) |
0.059 |
12.0 X |
| TENCT (C) |
14958 |
622.72 (-) |
0.076 |
7.5 X |
| TENCT (C) |
23539 |
610 (-) |
0.097 |
6.4 X |
| TENCT (P) |
25321 |
556.38 (-) |
0.255 |
7.2 X |
| TENCT (P) |
21910 |
499.8 (-) |
0.100 |
8.9 X |
| TENCT (Bull) |
68501 |
577.5 (580.5) |
0.046 |
26.0 X |
| TENCT (Bull) |
68505 |
557.5 (560.5) |
0.089 |
13.4 X |
| TENCT (Bear) |
55685 |
648 (645) |
0.084 |
14.2 X |
| TENCT (Bear) |
56740 |
638 (635) |
0.068 |
17.6 X |
| AMZN (C) |
10004 |
280 (-) |
0.067 |
11.0 X |
| AMZN (P) |
10700 |
180 (-) |
0.023 |
10.6 X |
| MSFT (C) |
11006 |
550 (-) |
0.095 |
10.2 X |
| MSFT (P) |
10715 |
435 (-) |
0.405 |
8.8 X |
| ALPBE (C) |
10080 |
360 (-) |
0.415 |
5.8 X |
| ALPBE (P) |
10012 |
230 (-) |
0.069 |
6.1 X |
