Hungarian airport purchased by Far Eastern businessman

The Hungarian military’s Taszár airport was bought by a company owned by a Taiwanese billionaire, Frank Liu.

According to mfor.hu, the Taszár military airport operated until 2005, when the Hungarian military closed it due to financial reasons. In 2009, most of its territory was sold to KaposBusz, while the remaining buildings deteriorated during the time. We had to wait until 2023 to find a new owner for the property.

The government designated the purchaser in 2021 with a decree. SGF Silu Global Fund Holding Ltd. was a newly-founded company. Their task was to create a commercial airport there. However, they failed to do so, hence the government withdrew its decree and sought for a new owner via an online auction.

Taiwanese businessman at the end of the ownership chain

However, neither the Hungarian National Asset Management Inc. nor the politicians and government officials shared who purchased the airport. The auction closed on 31 March, and the airport was sold for HUF 3.6 billion (EUR 9.33 million). The buyer turned out to be Billion Up Ltd., registered in Budapest. The company’s owner is Billion Up Development Limited, a firm founded in 1991 in Hong Kong. The CEO is Hsieh Yi-Chen who bought the famous Pápai Hús in 2016 through his Famous Yield Enterprises Limited. Furthermore, the seat of the two companies (Famous Yield & Billion Up) happens to be on the same Hong Kong office building’s 11th floor.

Read also:

• Skyrocketing plane ticket prices after government acquisition of Budapest Airport? – Read more HERE
• Hungarian government makes formal bid for Budapest Airport

Both two companies are related to Chang Pei-Chi, the CEO of multiple Hungarian companies, including Chi Fu Taszár Ltd and Chi Fu Pápa Ltd. The Chi Fu Central Europe Ltd’s owner is Frank Liu, a Taiwanese businessman, who is also a Hungarian citizen. We wrote HERE that Deputy Prime Minister Zsolt Semjén and President János Áder decorated Mr Liu with the Hungarian Golden Cross of Merit in 2021 for his efforts in advancing trade relations between Hungary and China.

Here are two photos of the airport: