Paypal To Open New Regional Headquarters In Singapore

I just received this in my mail,Paypal Inc will be opening a new regional headquaters in Singapore and will be known as PayPal Private Limited.

Excerpt of the mail:

If you do not wish to hold a PayPal Private Limited account and would prefer to retain your relationship with PayPal, Inc., you may only do so if you are a resident of the United States, and if the primary address on your PayPal account as of August 1, 2006 is a legitimate postal address within the United States.

If your primary address is not in the United States, you may close your account at any time, either before or after the transition to PayPal Private Limited, by logging in to your PayPal account and clicking Profile. We value your business and hope you’ll transfer with us to PayPal Private Limited, where you’ll be able to use PayPal in the same way you do today.

So it looks like that we (Malaysians) will have our accounts transfered to Singapore -Paypal Private Limited unless our primary address is in the United States.