Thien Minh Group

active

Thien Minh is a Vietnam-based travel service provider whose businesses include the following: i) Operating travel tours throughout the Mekong region; ii) a fleet of small tourist boats navigating on parts of the Mekong river; iii) taking guests to northern Vietnam on a fleet of tourist vans; iv) and ownership and operation of two hotels (Mai Chau Lodge or “MC Lodge”; and Hue Festival Hotel or “Hue Festival”) in North and Central Vietnam respectively. In 2009 Thien Minh set up a joint venture (Jetwing Indochina) with Jetwing - a leading Sri Lankan tourism group - to manage its expanding portfolio of hotels. Established in 1995, the Foreign Group owns and operates five four-star boutique hotel-resorts in Vietnam, one hotel in Cambodia, a hotel management company, as well as operates two luxury tourist cabins on a national train line going between Hanoi and northern Vietnam. Its Vietnam hotels were constructed between 1997 and 2003. IFC has been approached to provide financing of up to $12 million to support the Project, up to USD 3.5 million of which may be converted into Thien Minh equity. Another IFC portfolio client - a private equity fund based in Vietnam will also participate in this transaction by providing additional equity investment into Thien Minh alongside other investors.