Nvidia’s physical shipments to Singapore make up less than 1% of revenue: Tan See Leng
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Singapore had come under the spotlight in a US investigation into whether Chinese start-up DeepSeek had circumvented US restrictions on advanced Nvidia chips by using third parties in other countries.
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SINGAPORE – Products sold by Nvidia to Singapore that were physically delivered here represent less than 1 per cent of the chipmaker’s overall revenue.
And the remainder of Nvidia’s revenue billed to business entities in Singapore did not involve physical shipments into the country.
Second Minister for Trade and Industry Tan See Leng said this in Parliament on Feb 18.
He was responding to Mr Yip Hon Weng (Yio Chu Kang), Ms Joan Pereira (Tanjong Pagar GRC) and Workers’ Party MP Jamus Lim (Sengkang GRC). They had asked questions about US export controls and Singapore’s approach to such measures.
Dr Tan said Nvidia’s products are mainly deployed here for major enterprises and the Government.
Singapore had come under the spotlight in a US investigation into whether Chinese start-up DeepSeek
In January, DeepSeek launched a free artificial intelligence (AI) assistant at a fraction of the cost of US models as it uses less data.
Within days, it became the most downloaded app in Apple’s App Store and stirred concerns about the US’ lead in AI,
US lawmakers had in January singled out Singapore in a letter urging National Security Adviser Mike Waltz to subject countries to strict licensing requirements if they were not willing to crack down on shipments to China.
The scrutiny of Singapore was heightened after Nvidia’s latest financial results showed that 22 per cent of its third-quarter billings were to the Republic
Dr Tan told the House that Singapore is a stable, trusted, reliable and well-connected international business hub.
And its economic competitiveness is based on its commitment to the rule of law, zero tolerance for corruption, transparent regulations and an open, inclusive business environment.
Said Dr Tan: “If a company in Singapore is engaged in deceptive or dishonest practices to evade export controls that it is subject to, we will investigate, and we will take the appropriate action in accordance with Singapore laws.
“It is in our national interest to secure access to leading-edge technology and to maintain the integrity of our business environment.”
Within Singapore, the transfer and brokering of strategic goods and technology is governed by the Strategic Goods (Control) Act, the minister said.
This, he noted, is a robust framework that is aligned with major multilateral export control regimes, including those imposed by the UN Security Council.
Outside such regimes, countries sometimes also impose unilateral export controls on specific items, and Dr Tan said that the US’ export controls on advanced semiconductor chips are one example.
Singapore expects companies to consider foreign export regulations in their international business activities, even if not legally obligated, and to conduct transactions transparently, he noted.
“At the operational level, Singapore Customs works closely with its foreign counterparts, including those from the US, to address their concerns and to facilitate their investigations where appropriate, and to the extent where our law permits,” said Dr Tan.
“It is important to emphasise that this open, inclusive and transparent regulatory regime applies to all our trading partners.”
Responding to supplementary questions from Associate Professor Lim about the role of foreign policy in Singapore’s trade decisions, Foreign Minister Vivian Balakrishnan said Singapore is not legally obliged to enforce the unilateral export measures of countries around the world.
“But we will enforce the multilateral agreed-upon export control regimes,” he said.
Dr Balakrishnan emphasised that it is not in Singapore’s national interest to be exploited, stressing that the Republic will not allow itself to be used.
Companies will not be allowed to use their links with Singapore to evade unilateral export control measures that apply to them, he said.
He added: “We will not allow them to use that association with us to engage in deceptive or evasive measures to avoid unilateral export measures that apply to them.”
