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King Power to Diversify Into Travel, Sports in China

Published

9 years ago

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After acquiring a 39% stake in Asia Aviation (AAV), King Power is now setting its sights on sport and travel businesses in China, which are flourishing despite an overall slowdown in the economy.

Vichai Srivaddhanaprabha, CEO and founder of King Power, says the company will synergize many marketing and business platforms with Thai AirAsia to bolster growth. Mr. Vichai purchased the majority stake in AAV, operator of Thai AirAsia, in a 7.9 billion baht deal.

Thai AirAsia will continue expanding its network while King Power aims to sell more duty-free onboard goods.

King Power says its goal is to become a “one-stop service” for shopping, entertaining and traveling. The firm also owns Leicester, the British premiership-winning football club. King Power is planning to launch an online shopping platform as well as a duty-free promotion. The firm has said that even those who aren’t traveling will still be able to purchase duty-free items.

Vichai said on Tuesday that he had interest in the airline business for many years. At one time, he owned a 5% stake in Nok Air, but made the decision to sell because the carrier was too small.

King Power has 27 years of experience in the retail industry, and is now looking to diversify into new markets, including sport and travel.

The group’s recent deal with AVV will allow both companies to grow, especially in China where Mr. Vichai sees potential for growth….

The investor trying to invest in Real Estate in China should definitely think about the financial and political background and legal frame supplied by various publications. Practically all the massive fund corporations have a fund that is designed for exposure to the growth of Real Estate in China and other Asian countries.

Real estate in China is developed and managed by public, private, and state-owned red chip enterprises.

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Business

Democrat Claims Musk is Undermining Spending Bill Due to China Restrictions – The Hill

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1 day ago

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December 22, 2024

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A Democrat claims Elon Musk influenced the reduction of a spending bill due to its restrictions on China, suggesting his actions impacted the legislation’s progress and funding allocation.

Allegations Against Musk

A prominent Democrat has accused Elon Musk of deliberately sabotaging a significant spending bill in response to China-related restrictions. This accusation comes amid ongoing tensions between the U.S. and China, particularly regarding technology and trade policies. The claims suggest that Musk’s influence is affecting critical legislative processes, raising concerns among lawmakers about foreign influence in American politics.

Implications for Legislation

The potential ramifications of Musk’s alleged actions could be significant. As a major player in the tech industry, his decisions can sway public opinion and impact the economy. Lawmakers fear that if influential figures like Musk oppose necessary legislation, it might hinder efforts to address vital issues such as national security and economic stability.

Political Reactions

The controversy has sparked debates among both Democrats and Republicans, highlighting the intersection of technology and politics. Many are demanding greater transparency and accountability from tech giants. As the situation unfolds, lawmakers may need to reassess their strategies to ensure that essential legislation moves forward uninterrupted.

Source : Democrat accuses Musk of tanking spending bill over China restrictions – The Hill

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Business

HSBC Chairman to Head Key UK Business Delegation to China

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3 days ago

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December 20, 2024

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HSBC Chairman Mark Tucker will lead a UK business delegation to China next month to boost trade and investment, amid concerns over national security and improving UK-China relations.

HSBC Chairman Leads UK Delegation to China

HSBC Chairman Mark Tucker will lead a pivotal British business delegation to China next month, marking the first significant visit since 2018. The trip aims to enhance Chinese investment in the UK, guided by Chancellor Rachel Reeves. Tucker, a seasoned financier with extensive Asia experience, is regarded as essential in resetting UK-China relations.

Reviving Economic Dialogue

Tucker will accompany senior bankers in seeking to rejuvenate trade, specifically focusing on financial services. Although there are apprehensions among some UK lawmakers regarding national security threats posed by closer ties to Beijing, the UK Treasury spokesperson confirmed Chancellor Reeves’ upcoming discussions on economic cooperation in Beijing.

A Shift in UK-China Relations

Since suspending most dialogues following China’s imposition of a national security law in Hong Kong, UK-China relations have soured. Nevertheless, the Labour government is prioritizing improved ties with China, emphasizing investment opportunities. Reeves asserts the necessity of a pragmatic approach to benefitting national interests amid ongoing concerns voiced by some lawmakers about security risks.

Source : HSBC Chairman to lead pivotal UK business delegation to China

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Business

Gordonstoun Severs Connections with Business Led by Individual Accused of Espionage for China

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5 days ago

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December 18, 2024

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Gordonstoun school severed ties with Hampton Group over espionage allegations against chairman Yang Tengbo. He denies involvement and claims to be a victim of political tensions between the UK and China.

Allegations Lead to School’s Decision

Gordonstoun School in Moray has cut ties with Hampton Group International after serious allegations surfaced regarding its chairman, Yang Tengbo, who is accused of being a spy for the Chinese government. Known by the alias "H6," Mr. Tengbo was involved in a deal that aimed to establish five new schools in China affiliated with Gordonstoun. However, the recent allegations compelled the school to terminate their agreement.

Public Denial and Legal Action

In response to the spying claims, Mr. Tengbo publicly revealed his identity, asserting that he has committed no wrongdoing. A close associate of Prince Andrew and a former Gordonstoun student himself, Mr. Tengbo has strenuously denied the accusations, stating that he is a target of the escalating tensions between the UK and China. He has claimed that his mistreatment is politically motivated.

Immigration Challenges and Legal Responses

Yang Tengbo, also known as Chris Yang, has faced additional challenges regarding his immigration status in the UK. After losing an appeal against a ban enacted last year, he reiterated his innocence, condemning media speculation while emphasizing his commitment to clear his name. Gordonstoun, on its part, stated its inability to divulge further details due to legal constraints.

Source : Gordonstoun cuts ties with business chaired by man accused of spying for China

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