Tencent overtakes Facebook in valuation; declares global goal

Hong Kong

CHINA'S biggest social network and gaming firm Tencent Holdings, which last week reported forecast-beating quarterly results, is close to making Malaysia the first foreign country to roll out its WeChat ecosystem, an executive told Reuters.

Tencent has made a "breakthrough" in gaining an e-payment licence in Malaysia for local transactions, and plans a launch early next year, senior vice-president SY Lau said in an interview.