Reborn Tech Maniac

Chapter 497 My Son Made a Good Friend
With the reassurance of the staff of Sun Hung Kai Bank, the commotion of the crowd was finally stopped, and some people even listened to the persuasion, gave up waiting, and left directly.

"The richest man in the world supports Sun Hung Kai Bank and deposits his money here, so we don't have to work so hard." Uncle De stretched his waist and planned to retreat.

"Can we compare with the world's richest man? For others, 5000 million US dollars may be a few months' income, but 50000 million yuan is our life savings." Aunt De still insisted on withdrawing money.

"According to your opinion, no bank is trustworthy." Uncle De looked depressed.

"At least HSBC is more reliable than this Sun Hung Kai Bank." Aunt De glared at Uncle De angrily.

"If the British are driven away, it will depend on where you go to ask for money." Uncle De snorted dissatisfied, and continued to line up obediently.

However, when Aunt De Shude managed to stay a few steps away from the service window, Sun Hung Kai Bank's business hours also arrived, which made them feel angry, but they couldn't get it out.

Because the other party's work attitude was good and he couldn't find any reason, he took the initiative to register the old couple and promised to add a special withdrawal channel in the next two days.

"Okay, let's compare our hearts to our hearts. These children are not a few years older than Dingtian and Keyi, and they all obey orders. Let's not worry about it. It's nothing to withdraw money a few days later." Uncle De comforted and supported Aunt De left the noisy head office of Sun Hung Kai Bank and went home by car.

The to-and-fro ride was exhausting. Uncle De was so tired that he snored in his seat without even reading the evening paper he just bought. If Aunt De hadn't woken him up, he would probably Sleep over standing.

"I didn't take out the money, but I paid a lot of travel expenses back and forth." Aunt De, who has always been careful about her life, complained heartbrokenly, and then turned on the TV, "See if there is any news about Sun Hung Kai Bank on Media Asia TV. report."

"There should be. There are headlines in the newspapers. The world's richest man has invested in Sun Hung Kai Bank." Uncle De yawned and shook the newspaper in his hand.

Just as Uncle De expected, Media Asia TV's financial program today really revolved around Sun Hung Kai Bank. The host mentioned during the brief introduction, "In the next program, we will interview the directors of Sun Hung Kai Bank on the spot. Mr. Feng Jingxi, who is also the founder, will also try to connect with Mr. Tang Huan in the ocean.”

"Today's show, there will be a big shot on stage." Uncle De's spirits lifted immediately, his eyes lit up.

"Now let us first understand the center of this news - Sun Hung Kai Bank." After introducing the commentators, the host guided the program to the main topic.

……

The "Three Swordsmen" of Sun Hung Kai Properties decided to give full play to their strengths. After their respective developments, Feng Jingxi, who smelled business opportunities from the establishment of the Hong Kong Far East Stock Exchange (Far East Club), founded Sun Hung Kai Securities and Sun Hung Kai Finance in 1969.

As the first Chinese-funded securities brokerage company in Hong Kong, Sun Hung Kai Securities broke the monopoly of foreigners in the securities industry and attracted Chinese brokers to participate in the game of the capital market.

In a relaxed environment, Sun Hung Kai Securities quickly grew into the most powerful Chinese brokerage company, once accounting for [-]% of the total trading volume of the Hong Kong stock market.

In order to increase the vitality of the Hong Kong securities market, the founder of the Far East Club, Li Fuzhao, introduced a competition mechanism and removed restrictions, prompting international securities companies to flood into the Hong Kong market, thus weakening the market position of Sun Hung Kai Securities.

At this time, Sun Hung Kai Finance Company, which has been undertaking the financial management function of Sun Hung Kai Securities and played a supporting role, has grown stronger. In 1979, its total assets reached HK$18 billion, and the time was ripe for its transformation into a commercial bank.

So in that year, Sun Hung Kai Finance was listed. In March 1982, it obtained a banking license and officially changed its name to Sun Hung Kai Bank, which is the Sun Hung Kai Bank that everyone sees today.

Although Sun Hung Kai Bank has been licensed for less than two years, its strength is still considerable.

In 1978 and 1980, the company successively introduced the French Tanita Group and the American Merrill Lynch Securities Group as strategic shareholders to jointly develop a "transnational financial supermarket".

Feng Jingxi himself became the largest individual shareholder of Merrill Lynch Securities through the exchange of shares. His net worth is estimated to have reached 24 billion yuan, and he is known as the "Godfather of the Stock Market".

But at the peak of real estate, Sun Hung Kai Bank spent 3 million yuan, equivalent to 70% of its equity, to purchase the current head office building.

With the real estate recession and banking crisis that broke out last year, Sun Hung Kai Bank began to face the dual difficulties of insufficient funds and a large loss of deposits.

……

"Real estate investment is really a double-edged sword. Once you miss it, you will be dragged down." Uncle De shook his head sadly.

"You know how to take care of yourself and worry about it." Aunt De glared at Uncle De, "Tomorrow you go to Sun Hung Kai Bank to withdraw the money yourself, and I won't go with you. It's better to save on travel expenses."

"Go ahead..." Uncle De felt dizzy.

……

At this time, Feng Jingxi was also expressing emotion to his eldest son Feng Yongfa, "Perhaps, I shouldn't have bought this Sun Hung Kai Bank headquarters building at the beginning, or else I wouldn't be dragged down by the economic depression and be in a hurry."

"Don't think too much about it." Feng Yongfa persuaded: "Mr. Tang is willing to help, and he has no intention of entering the banking industry. Sun Hung Kai Bank is still in the hands of our Feng family."

"Thanks to my son for making a good friend who is sincere and generous!" Feng Jingxi sighed with lingering fear.
After Sun Hung Kai Bank fell into financial difficulties, its other two major shareholders, the French Tanita Group and the American Merrill Lynch Securities Group, of course, would not sit idly by, but the condition was that Feng Jingxi gave up 50.00% of the controlling stake.

You must know that in Feng Jingxi's financial kingdom, Sun Hung Kai Securities and Sun Hung Kai Bank are in the right-hand position, no matter which one is missing, it will be a heavy loss.

Just when the pressure was mounting and Feng Jingxi was about to give in, his eldest son, who was unwilling to inherit the family business, unexpectedly pulled in timely reinforcements to get him out of the predicament.

In particular, Tang Huan's conditions were very kind. He only asked for 20.00% of the same number of shares as France's Belida Group and America's Merrill Lynch Group, and sent a deposit of US$5000 million, and was even willing to directly convert it into Hong Kong dollars.

At this time, the exchange rate of the Hong Kong dollar against the U.S. dollar has fallen to 9.6. If this situation continues, breaking through 10 is just around the corner. No one knows when the depreciation momentum of the Hong Kong dollar will stop.

"You don't blame me for being disobedient." Feng Yongfa helped his father check his clothes, "You seem to have a lot more gray hair."

"It's okay, I'm getting older, and I've been working a lot recently, so it's normal." Feng Jingxi waved his hand indifferently.

At this time, the assistant came to report that the outside was ready for an interview with Media Asia TV.

(End of this chapter)