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More than 15 years after selling out of a local supermarket chain to Tesco, Dhanin Chearavanont is keen on buying back the business valued now at about US$10 billion (Bt328 billion), sources said.

Thailand’s second-richest man has had informal talks with a domestic bank to explore a bid for Tesco Lotus, whose 1,737 shops represent nearly three-fourths of all Asian outlets of the accounting-scandal-hit British retailer, a person with direct knowledge of the situation said.

The move is a hallmark of Dhanin’s opportunistic deal-making style and underscores his confidence in the prospects of Thailand’s retail industry and the economy, which is under pressure after political unrest.

Tesco Lotus would be the second big retail business – after Siam Makro – that he has bought back.

Any bid would be made through Charoen Pokphand Group, Tesco’s original partner two decades ago.

Other investment banks have also approached Dhanin to offer finance and advice on the deal, the sources said. – Reuters

credit card strategy

New credit-card promotions to capture year-end business are marketing campaigns that are different from financial institutions’ consideration of providing cards to customers on an individual basis, according to the applicant’s financial capability, Jaturong Jantarangs, senior director of Financial Institutions Strategy Development at the Bank of Thailand, said yesterday.

“If the customers have good income and the ability to repay their debts, the financial institutions will be able to give them the credit,” he said.

new tv ups target

New TV has raised its revenue target for next year up to Bt1 billion from Bt800 million, as the nationwide distribution of digital TV vouchers is helping to broaden its viewership.

Panuchai Srinualnad, general director of DN Broadcast, the operator of New TV, a digital news channel, said the station had budgeted Bt1.2 billion to acquire programmes and construct a studio.