Singapore has raised concerns with India about its ban of popular gaming app 'Free Fire', owned by technology group Sea Ltd , in the first sign of diplomatic intervention after the move spooked investors, four sources told Reuters.
Singapore backs Sea's concerns, talks to India, say sourcesGoogle tells Sea it cannot disclose reason for ban -source
After the ban, the market value of the New York-listed Southeast Asian firm dropped by $16 billion in a single day, and investors worry India could extend it to Sea's e-commerce app, Shopee, which recently launched in the country. The sources, who declined to be identified because of the sensitivity of the discussions, said they did not know how, and if, the Indian government planned to reply to Singapore's concerns.
China responded by expressing serious concern and saying it hoped India would treat all foreign investors in a non-discriminatory manner.In its response to the ban, Sea told Reuters at the time, "We do not transfer to, or store any data of our Indian users in, China," adding that it was a Singapore company that complied with Indian law.
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