Melia Hanoi, located in a "golden land area" at the center of Hanoi, now belongs to CTAMAD – SAS Trading Ltd., a joint venture between HEM, an electromechanical manufacturing company, and SAS Trading Ltd, a subsidiary of TTC Land.

TTC Land is a big Thai economic group, a real estate firm, owned by the Thai billionaire, who is the second richest person in Thailand.
The successes in the drinks sector have helped the Thai businessman turn into the 82nd richest person in Forbes' list with the total asset value of $11.6 billion. His position was much lower just one year ago, the 184th.

His assets are double the value of Bev Thai's stakes he is holding. He once defeated an Indonesian rival to control the drink market in Singapore and Fraser & Neave (F&N). He also possesses luxurious properties in Asia, Australia and the US.
However, what made him famous is that he stood in others' way in many big merger and acquisition deals. When Heineken nearly wrapped up the purchase of APB, the Tiger beer manufacturer, the businessman, through his son-in-law's company's suddenly turned up, offering to buy APB stakes at the prices higher than that offered by Heineken.
The Thai billionaire spent 7.5 billion Singaporean dollars, or 6 billion US dollars to obtain the remaining APB's stakes.
The price war then raised the value of the stakes held by his son-in-law by $134 million, and raised the APB's share prices in the market.
In Vietnam, the Thai businessman has been well known with the intention to take over Family Mart. The supermarket chain belonged to Vina Family Mart, a joint venture between Vietnamese Phu Thai Group which held 51 percent of capital, the Japanese Family Mart which held 44 percent, and Japanese Itochu with 5 percent of capital.
After two years of operation, the supermarket chain incurred losses, which then prompted the Japanese partner to leave Vietnam.
In fact, the Japanese group plans to expand its business in other markets. Therefore, in January 2013, Family Mart officially made its presence in the Philippines.
At that time, Thai Corporation International (TCI), a joint venture of Berli Jucker Plc (BJC) of the Thai billionaire Charoen and Mongkol Group sent words intimating that it wanted to buy the supermarket chain.
A Thai newspaper reported that BJC was making efforts to conquer the Vietnamese retail market with a contract worth $32-96 million. This was for the third time the tycoon planned to jump into the retail sector after the failures with Carrefour Hypermarkets and Family Mart in Thailand.
Analysts say it's understandable why the Thai billionaire plans to acquire Melia Hanoi. The investor has been keen on making investment in Vietnam. His F&N Company now possesses many properties in the country. It now holds 9.54 percent of stakes of Vinamilk, the leading dairy producer in Vietnam. The shares are worth $500 million at least.
In the joint venture which is running Melia, SAS holds 65 percent of stakes, HEM 35 percent. At the moment of licensing, HEM contributed VND84.3 billion in capital, while SAS VND179.6 billion. Both HEM and SAS now have to pour more money into the joint venture. By December 31, 2012, HEM's investment capital in the joint venture had increased to VND352.2 billion.

By english.vietnamnet.vn/

The post Thai billionaire alleged to take over Melia Hotel appeared first on Asean Investment | Marc Djandji Blog.