Hong Kong's new giants

"It's really my enemy!"

……

When New Times Group announced its big project, New World Development was not willing to lag behind, and announced in mid-March to acquire Ramada Hotel Group of the United States for 27.7 billion Hong Kong dollars.

This acquisition is the largest acquisition since the establishment of New World, which has attracted the attention of the entire Hong Kong business community. Of course, some people think that New World is taking money from ZOU.

Since Zheng Jiachun took office, New World has completed four major projects, which many market analysts consider to be Zheng Jiachun's masterpiece, and Zheng Jiachun has also become a news figure.

Some people combine the relationship between Lin Zuhui and the Zheng family, thinking that Zheng Jiachun is learning from Lin Zuhui, especially in the battle of Wing On Group, Zheng Jiachun's hostile acquisition is completely inconsistent with Zheng Yutong's style.

……

Sun Hung Kai.

Although Guo Desheng has already handed over the shift, he still leads the position of chairman of the board of directors, and only gave up the position of general manager to his eldest son.

On this day, he couldn't help but called his three sons to him and said, "The sudden rise of Lin Zuhui will pose a great challenge for Sun Hung Kai. It’s a big loss. Moreover, New Era Real Estate is also taking the path of emphasizing land reserves, which is bound to compete with us, and you must pay attention to it. Although land is expensive now, we still need to reserve more land.”

Guo Bingxiang said: "But now the market is at a high level, shouldn't we wait for a correction before making a move?"

Guo Desheng said: "It is said that Lin Zuhui is right about the general trend. He invested heavily this year. Are we willing to lag behind? At the recent auction, you boldly auctioned land."

The three sons suddenly nodded helplessly!Their father is a good friend of the real estate industry and has always attached great importance to land reserves. Now that he is challenged, he is naturally unwilling to step forward and intervene.

Chapter 293 [Continue to chop cucumbers]

Wednesday, April 3.

Lin Zuhui urgently summoned Chen Xiaofen and Gao Yi for a meeting in the office.

"The plan has changed. Now that the New Times Group has sold all the rental properties, it will launch a Diligende Court next week, and try to complete the sale this month."

Chen Xiaofen quickly said: "No problem, I'll arrange it right away! Diligende Court is the most luxurious residential property in Xiangjiang. Living in this luxury residential complex has a wide view and a beautiful surrounding environment. It will definitely lead to hot sales."

Lin Zuhui nodded. Although a set costs 1200 million to 2000 million, there is no shortage of rich people in Xiangjiang; when it is launched, even rich people like Lee Shau Kee can't help but buy a few units as investment.

In fact, the reason why he temporarily changed his strategy and started selling more than a week earlier; because according to some news analysis, the real estate market will fall at the beginning of May, followed by a sharp drop.

To be on the safe side, it's better to go a little earlier!

Lin Zuhui said to Chen Xiaofen again: "Recently, I am a little worried about selling off-plan houses!"

Although I don't know what the boss is worried about, Chen Xiaofen never complains about difficulties, and she will only do her best to complete it.

"Well, I will try harder!"

Lin Zuhui nodded appreciatively. He didn't like his subordinates talking about difficulties with him.

Then, Lin Zuhui said to Gao Yi: "Let me release all the scattered rental properties of Huaren Real Estate, and organize all the intermediaries who have cooperated with me. The price is as long as it is cheap, and it doesn't hurt to give those intermediary fees a little higher."

Gao Yi also saw that the boss was determined not to disperse the property, so he said without hesitation: "Okay, I will prepare right away!"

Lin Zuhui warned: "You can't sell at a reduced price, just follow the market price... (Think about it)... Well, you can still consider it if the discount is less than 5%, but don't cause panic in the market."

"Well, I see!"

After the two left, Lin Zuhui calculated in his notebook:

If it is really possible to sell all the scattered properties of Chinese Land (including small shopping malls with entire floors of office buildings) before May, it is estimated that 40 billion funds can be withdrawn.

At the beginning of the year, Chinese Real Estate had 20 billion in cash (rights issue + loan). Recently, it has cashed out blue-chip stocks, cash on account, and rent together to almost 15 billion. Adding 40 billion in the sale of scattered properties, the total is 75 billion in cash.

However, the cost is very high. The land fee of Wanchai Land King is 18 billion (8% of the equity), and Wing On Group spent 26 million on the acquisition, and [-] billion has already been removed.

There is still 49 billion cash flow left!

Of course, Chinese Land originally had a debt of 30 billion yuan, and the total construction cost of the entertainment building, Jialan Center, and Central Plaza will cost more than 23 billion (Central Plaza only needs to contribute [-]% of the construction cost, accounting for half of the shares).

This is equivalent to an increase in debt to 53 billion, not counting the interest of three to four billion a year (the debt is not filled up all at once)!

From the second half of 1989 to 1992, Xiangjiang's office buildings will be in a low period, because many foreign capitals began to flee, and then turned back.Coupled with the sale of all the scattered rental properties, the estimated net rental profit of Chinese Land in the next two years will only be around 5-6 million (office rents will reach their peak in the first half of this year, and based on the annual market price, they can get 8-9 million net profit).

However, there are only 12 buildings left in the properties of Chinese real estate:

Building 7 in Central District: Chinese Center Blocks A and B (Admiralty), Entertainment Building (under reconstruction), Hongji Building, Legu Building, Printing House, Lok Shing House

Wanchai: Harcourt Building, Central Plaza (land, under construction)

Causeway Bay: Royal Mansions, Grand Plaza (site, under construction)

North Point: Lok Kee Walk

A total of 460 million square feet of rental area, of course, should subtract 70 square feet of half of the Central Plaza’s interest, which is only 390 million square feet; minus the rental area under construction, there are actually only more than 260 square feet under collection rent area.

If all the cash flow in the first half of this year is used for loan repayment and construction costs, Lin Zuhui has actually become Heung Kong’s third largest real estate company after Hongkong Land and Wharf (calculated by the rentable area of ​​390 million square feet), Swire Properties is not considered a real estate company.

Of course not!Not satisfied!

After the plunge, Lin Zuhui will take the cash to talk to Landmark!

He has already set his sights on Hongkong Land's seven shopping mall properties and one building, and plans to take advantage of the real estate plummet and the panic of foreign capital to negotiate acquisitions at a premium of [-]% to [-]%. (PS: Although Hongkong Land intends to withdraw from Heung Kong, it is not stupid. It is impossible to sell at a low price in a low market. Generally, it will start to sell gradually after the real estate market recovers slightly.)

Thinking of this, Lin Zuhui wrote down in his notebook: Causeway Bay World Trade Center (building), Excelsior Shopping Centre, Xingang Center Shopping Mall, Ocean Terminal ([-]-storey large shopping mall)...a list of eight buildings in total.

He is well aware of Hongkong Land's assets, and he also knows that except for the seven super buildings in Central, which will not be sold, the rest of Hongkong Land can be sold.

Among them, Xingang Center shopping mall and Ocean Terminal are located on Wharf, especially Ocean Terminal. Back in the 60s, it was invested by Jardine (also subsidized by the Hong Kong government), not Wharf, so it was not acquired by the Pao family; The Xingang Center shopping mall is on Canton Road and is also very close to Harbor City.

These investments should be in the range of 50 billion to 60 billion!

From this point of view, as long as these properties are purchased, the rent of Hua Zhi will rise again!

At that time, the rent can not only repay the interest, but also support the construction cost.

Putting down the pen, Lin Zuhui was very satisfied with his arrangement!

Although many scattered properties were lost, the whole buildings and shopping malls were exchanged.

As for those scattered properties, Lin Zuhui happened to set up a real estate fund under Hengjin Investment to manage the family's property investment (including [-]% equity in Furama Hotel, [-]% equity in Central Plaza, and [-]% equity in Dili Gendege Project). into the family office.

……

At the invitation of Mr. Rong, Lin Zuhui came to Xiangjiang Huaxin Company.

As early as April last year, after New Era and Baoli Technology defeated Changshi and Huaxin and won the property above Lantian subway station, Mr. Rong expressed his goodwill many times. In his opinion, Lin Zuhui's Li Chaoren is even more powerful, Huaxin should also use him as a backer.

After the two greeted each other warmly, they sat down on the sofa.

Mr. Rong said sincerely: "Lin Sheng, my father sincerely invites you to be the director of Huaxin, and I hope you don't refuse!"

Lin Zuhui hesitated immediately, the so-called 'one mountain cannot accommodate two tigers' is the current situation.Li Chaoren has served as the director of Huaxin for nearly ten years, and the competition between Lin Zuhui and Li Chaoren has just begun. Although he does not mind building a good relationship with Huaxin, he has hesitated in this matter.

Seeing Lin Zuhui hesitating, Mr. Rong was also a little dazed. Isn't this a good thing?

However, he remembered that the capital valued this person no less than Li Chaoren, so he knew Lin Zuhui's status now. He controls Xiangjiang's tongue, which is especially important for politicians, not to mention the troubled times now.

After a long time, Lin Zuhui said: "Will it cause inconvenience to Huaxin? As far as I know, Li Chaoren is also a director of Huaxin!"

This is very straightforward. It may not be a good thing for Huaxin to introduce two Xiangjiang bigwigs into Huaxin!

Mr. Rong immediately understood that this person regarded Li Chaoren as a competitor, and he was really courageous!

Of course, no one is qualified to doubt Lin Zuhui's strength at this point!

"No, we are all Chinese compatriots, what's the inconvenience there!" Mr. Rong said quickly.

He didn't want to care about the competition between the two big shots, he only knew that binding Lin Zuhui would definitely work in Xiangjiang.

Lin Zuhui said with a smile: "That's not necessarily the case! For example, if I want to participate in the project of investing in Asia Satellite One, I have to have the same shares as everyone else!"

Mr. Rong suddenly became embarrassed. Although Huaxin took the lead in this project, Dadong and Hutchison both held one-third of the shares.

"Mr. Lin, in fact, Huaxin must support you, but you also know that we only hold one-third of the shares, and the other two parties hold the other two-thirds."

Lin Zuhui nodded, Mr. Rong's attitude was good, so he didn't intend to get entangled in this aspect.

Instead, he took the second step and continued, "Then I plan to sign and lease 12 satellite communication transponders first. Can Mr. Rong make it happen?"

At this time, Lin Zuhui is completely in the initiative. Anyway, it is you Huaxin who wants to win you over, so you have to take advantage of yourself.If Huaxin is sincere, then I will also help them plan for a backdoor listing.If Huaxin is not sincere, then he will also intervene in the future Hengchanghang.

He is not afraid of offending Huaxin. Now ATV's ratings are 4:6 TVB, and Lin Zuhui controls the largest media group, and Ming Pao Group is about to acquire it (Ming Pao Group is more influential than Wanhui Media), so he has enough Capital is more important than Li Chaocheng's importance in the mainland.What's more, Lin Zuhui is still a native of the mainland, so it may not be that he will pay more attention to it.

Mr. Rong immediately said: "This is no problem, I will help you convince the other two shareholders!"

Lin Zuhui said with a smile: "Should we only need to persuade one shareholder to pass it?"

Young Master Rong suddenly smiled awkwardly, he knew the competitive relationship between Lin Zuhui and Li Chaoren.

"In short, I will try my best to reach this cooperation!"

Now that we've talked about this, Lin Zuhui will naturally stop showing off.

"Does Huaxin Hong Kong want to go public?"

Mr. Rong suddenly became a little excited. If it comes to going public through a backdoor, this is an expert. Others have made their fortunes by this.

At this time, Liang Botao's Peregrine had not yet been listed through the backdoor, and Huaxin in his previous life saw Peregrine listed, and followed suit.

Due to the global stock market crash, Chinese-funded enterprises adopt a wait-and-see attitude towards raising funds in Hong Kong, and mainland enterprises still have scruples about the Hong Kong capital market.Of course, scruples are scruples, but Mr. Rong really wants to list Hong Kong Huaxin in order to realize his ambition.

At this time, Heung Kong Huaxin owns more than 12% of the shares of Ka Wah Bank, 24.5% of Cathay Pacific Airways, 20% of the Submarine Tunnel, 33.3% of CTM, [-]% of Asia Satellite Communications, and some investment property projects.

If it goes public through a backdoor, with reference to Lin Zuhui's development history, Huaxin will soon become a giant.

Mr. Rong nodded quickly, and said: "I also invite Mr. Lin to join our Huaxin board of directors and give us some guidance in this regard!"

Lin Zuhui pondered for a while, and said: "I need to think carefully about becoming a director of Huaxin, because I have some concerns! But I hope that Huaxin will first help us lease satellite transponders; in return, I can backdoor for Huaxin I believe it will be of great help to you to get some opinions from the staff."

In the cable TV battle last September, Hutchison chose to give up at the last minute because the Hong Kong government raised the conditions of capital guarantee and high patent tax.At this time, I don't know if Li Chaoren has this idea, but Lin Zuhui knows that Hutchison Whampoa should only sign a lease of transponders with Asia Satellite next year.

Mr. Rong asked, "Are you planning to lease the transponder for the news agency, or for satellite TV?"

When Lin Zuhui heard the words, he had an idea, and said calmly: "It's okay, anyway, it's very useful!"

Mr. Rong immediately understood that this person was guarding against Li Chaoren, but this happened to be more convenient for him to facilitate the deal.

"Mr. Lin thinks we should go public through a backdoor?" Mr. Rong still planned to probe Lin Zuhui's tone.

Lin Zuhui said with a smile: "Backdoor listing is first of all a shell. I wonder if you have any goals?"

Mr. Rong shook his head!

Backdoor listing is a term used in the stock market. In principle, for a company in Hong Kong to go public, it needs more than five years of business performance. A normal listing requires considerable manpower, financial resources and time.Therefore, backdoor listing is the best choice.

Chinese-funded companies have low qualifications in Hong Kong and the accounting system does not meet the listing requirements. It is generally difficult to go public through normal channels.Therefore, backdoor listing is basically the only option for listing.

Lin Zuhui said casually: "Cao Guangbiao's Taifu is good. Taifu is engaged in real estate and investment, and its business is in good condition. Cao Guangbiao is busy fighting with Cathay Pacific, and his financial resources are exhausted and he is in a state of distress. The possibility of reaching the intention is very high. Of course, the backdoor listing has to be done slowly. , It is very important to find the right timing. If you are free, I will call Liang Botao together later, let's sit down and talk!"

In this life, Liang Botao has actually become Lin Zuhui's senior participant, and his relationship with Li Chaoren is not as good as in his previous life; of course, Du Huilian, another owner of Peregrine, is Li Chaoren's senior participant.

Therefore, some people joked that behind the two bosses of Peregrine, there are two real bosses.

Mr. Rong's eyes lit up. Regarding the issue of the shell, he had actually discussed it with Li Chaoren, but he was definitely not as confident as Lin Zuhui, who was able to settle the situation with one mouthful.

This is the boss of the vertical and horizontal capital market!

In terms of influence in the capital market, no one in Hong Kong is as famous as Lin Zuhui, even Liang Botao is far behind.

Where does Lin Zuhui's huge financial resources come from? Half of it comes from hard work in the capital market. This is a consensus in the business circle.Otherwise, according to Lin Zuhui's superficial strength, New Times Group's several rights issues, how would Lin Zuhui, a person without family backing, raise funds.

"Thank you Mr. Lin for your advice, don't worry, I don't think there is any problem with leasing the transponder!"

Lin Zuhui nodded, Asia One has 24 transponders, leasing half of them is equivalent to cutting off Li Chaoren's ideas, saving his son from being a traitor and selling Satellite TV to Murdoch.

And Satellite TV is still very profitable, together with the leasing of transponders, the investment is almost 30 billion Hong Kong dollars; and after 20 months of operation in the previous life, the Li family sold 60 billion Hong Kong dollars; what is important is that there are nearly 3.6 million US dollars. Advertising revenue (not pure profit, and the annual cost of maintaining five channels is 0.8 million US dollars, excluding optional investment and other expenses).

Lin Zuhui intends to let the New Times Group do this business, and does not intend to sell it!

Although Satellite TV was not allowed to broadcast Cantonese channels at the beginning (under the pressure of TVB, ATV, and cable, the Hong Kong government stipulated), but in fact, two years later, the Hong Kong government relaxed this rule.

All in all, it was a lucrative business.

Just taking advantage of Huaxin to win him over, he can give Li Cucumber another finger.

Satellite TV and ATV will not overlap too much. Satellite TV has at least three channels that broadcast foreign programs. (US satellites cannot cover Asia, while Asia One covers Asia and Africa, etc.), and the cost of investing in the other two programs is relatively acceptable.

Chapter 294 [Sufficient bullets]

In the office of Huazhi Center, Lu Donglai, the person in charge of the comprehensive department, is reporting to Lin Zuhui.

"Xistuo Convenience Store currently has a total of 16 stores. A comprehensive retail network has been initially established, and all stores are at a profitable level... Our supermarket brand 'Yonghui Supermarket' Tsuen Wan store will open this month..."

Lin Zuhui thought while listening.