BANGKOK: Vichai Srivaddhanaprabha, the owner of Leicester City football club, died in a tragic helicopter crash on Saturday (Oct 27) night after watching his club play in England. Thai billionaire Vichai Srivaddhanaprabha was the owner of both Leicester City Football Club and the hugely lucrative King Power empire AFP/Paul ELLIS The founder of the duty-free giant King Power Group in Thailand, he leaves behind a shopping empire valued at around US$4.9 billion by Forbes, built on political connections and shrewd business decisions. AFP looks at five key moments of Vichai's life. SHOPKEEPER TO TYCOON Vichai launched King Power in 1989 with one duty-free store in downtown Bangkok. That single store mushroomed into a massive duty-free empire, with his company holding concessions in major Thai airports in Bangkok, Phuket and Chiang Mai - locations that serve as major tourist attractions. His business crossed borders, gaining a license in the 90s to operate a shop at the Great Wall … [Read more...] about Five key moments of Vichai Srivaddhanaprabha’s life
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Vietnam, Japan look to foster trade cooperation A workshop was held in Tokyo on October 22 to discuss measures to promote economic and trade cooperation between Vietnam and Japan. Held by the Department of Trade Promotion (DTP) under the Ministry of Industry and Trade and the Japan-ASEAN centre, the event attracted representatives from more than 100 Japanese and 25 Vietnamese enterprises operating in handicrafts, mechanics, plastic, home furniture and gifts. Speaking at the workshop, Doan Thi Thu Thuy, Deputy General Director of the DTP said Vietnamese goods are present in most markets around the world, and exports are shifting from raw materials to products with higher value such as electronics and smart phones. Notably, Vietnam's agriculture has witnessed a long period of stable growth with an average expansion of 4.4 percent in the last decade, with the export value of Vietnamese fruits surpassing those of rice and crude oil. Assessing Vietnam’s advantages, … [Read more...] about BUSINESS NEWS IN BRIEF 26/10
The stringent punishments against former top officials were handed out at a key meeting of the Communist Party Central Committee that is underway in Hanoi. Nguyen Bac Son, former Minister of Information and Communications, was retroactively stripped of his titles as member of the 11th Party Central Committee and Secretary of the ministry's Party unit for the term 2011-2016. Of the four modes of punishment typically meted out by the Party, this is the second highest. The highest is expulsion, followed by demotion, warning and a reprimand. Under Vietnam's regulations, officials punished by the Party would have their violations reviewed by the State and could be subjected to further administrative punishments. The action against Son was taken after the Politburo, the Party's decision-making body, in July asked the Central Committee to initiate "strict" disciplinary action against him for his violations in the acquisition of private pay TV firm AVG by the state-owned telecom giant … [Read more...] about Vietnam Party moves against top officials implicated in ongoing graft cases
VietNamNet Bridge - Can Gio district in HCMC and Nhon Trach in Dong Nai province have become new destinations for many investors, thanks to infrastructure development in the areas. Investors eye land plots in HCMC's neighboring areas The real estate developer community was stirred up in early August by the news that Dong Nai People’s Committee proposed replacing the HCMC People’s Committee to call for investments in the Cat Lai Bridge project, which connects district 2 in HCMC and Nhon Trach district in Dong Nai. There are eight operational industrial zones in Nhon Trach district which have the occupancy rate of over 80 percent, attracting 120,000 businessmen, specialists and workers. Real estate brokers in Nhon Trach said that with the building of Cat Lai Bridge, the land price in the area would escalate from now till the end of the year, possibly by 30 percent compared with earlier this year.Can Gio attracts tycoons RELATED NEWS Infrastructure lifts south … [Read more...] about Investors eye land plots in HCMC’s neighboring areas
VietNamNet Bridge - Foreign investors hold a stake in about 60 percent of 5-star hotels in Hanoi and HCMC, and are continuing to pour money into the profitable hotel sector. A survey conducted by VnExpress found that of 19 5-star hotels located in the most advantageous positions in HCMC, 10 hotels are foreign invested. The market approach preferred by foreigners is to acquire enough shares to have the right to control the hotels. Investors in Hong Kong, Singapore and South Korea have been increasing their presence at many high-end luxury hotels in HCMC. Keck Seng Investments is the best known Hong Kong investor which invests in two 5-star hotels in HCMC. The real estate tycoon of the Fragrant Harbor holds 64 percent of shares in Sheraton and has 25 percent of interests in Caravelle hotels. RELATED NEWS Vietnam hotel market attracts foreign investors Da Nang improves hotel competitiveness Kim Mai … [Read more...] about Who are the owners of 5-star hotels in HCM City and Hanoi?