Hong Kong's new giants

So far, there are two types of family offices in the world:

Single Family Office (SFO), SFO is an exclusive family office for ultra-high-net-worth families, responsible for only one family, and the cost is relatively high;

Multiple family offices (MFO), MFO is responsible for the wealth management of multiple families, mostly commercial banks, trust banks, and family offices, focusing on wealth appreciation.

The family office that Lin Zuhui wants to set up naturally belongs to the SFO, and it is an SFO with all-round management. It is expected to recruit 100 to 200 world-class senior talents, which needs to be improved step by step;

There are only a handful of family offices of this level in the world!The reason why he dared to invest in this way was because he knew that his future wealth would reach a terrifying level.

Lin Zuhui named this family office "Lin Zuhui Family Office", and the top authority of "Lin Zuhui Family Office" is the "Family Council".He himself serves as the chairman of the board, and then invites a few fairies to come in as directors. After the children grow up, they will take over their mother's directorship.

The second generation of the Lin family will definitely have more than 20 members. Then with the emergence of the third and fourth generations, the number of family members may rise to hundreds, or even hundreds.Zhu Yuanzhang's Ming Dynasty ruled for hundreds of years, and he claimed to have as many as 100 million descendants...Of course, Lin Zuhui is just making a comparison.

It is obviously impossible for these family members to all work in the family business or family office; this will cause a serious asymmetry of information among family members, and coordination will become more difficult; then it is very necessary to establish a family council. The association can represent the interests of the family, the governance body that handles family affairs, and the official communication platform for family shareholders. It is also the highest decision-making and authority body of the family.

At the same time, the 'Family Council' also exists to supervise and audit the family office. The 'Family Council' is the Board of Directors of the 'Family Office' and below the 'Family Council' is the CEO of the 'Family Office'.

The CEO of Lin Zuhui's family office will naturally be subject to some restrictions (can be removed at will) in the "Lin Zuhui era"; but once Lin Zuhui dies, the power of this CEO will be infinitely magnified.

Basically, all the members of the family council need to work together to contain the CEO. In fact, it is difficult to work together unless it involves real family interests; the purpose of doing so is naturally very simple. Lin Zuhui is worried that some of his unworthy descendants will be ruined family property.

The CEO of Lin Zuhui's family office is divided into six departments: investment management, estate planning, tax planning, trust services, family governance, and administrative services.

The responsibilities of the investment management department are: investment projects, asset allocation, manager selection, investment performance monitoring...

The responsibilities of the estate planning part are: trust management, formulation of trust plans, fund management, physical asset management...

The duties of the tax planning department are: formulation of tax plans, coordination of tax documents, reasonable tax avoidance...

The duties of the trust services department are: Acting legal person trustees, individual trustees supporting...

The responsibilities of the family governance department are: vision and goals of the wealth, planning educational programs for family members, family meetings, philanthropic planning...

Administrative services are responsible for: legal issues, travel planning, shopping planning, butler services, document management, transfer payments, cash flow and budget management, risk management...

The cooperation with Korn Ferry this time is just to recruit some of the most important positions, such as the CEO of the family office and the manager of the investment management department.

Cohen asked: "Which type of talent does Mr. Lin prefer to be the CEO of the family office? Talents with backgrounds such as investment officers, lawyers, and accountants!"

Lin Zuhui said: "Management-type talents need to be very comprehensive. Investment skills are not very important! Talents who fail to start a business are also fine."

"Ok!"

After some exchanges, Lin Zuhui left Korn Ferry satisfied!

A family office requires preparation time and cannot be established overnight.

However, he has constant gold investment, so there is no need to rush.

On the way back, Lin Zuhui said to George: "Collect the information of Cisco for me, this time we will invest in it!"

George said: "Cisco only went public this year, and its market value is only more than 2 million U.S. dollars."

Lin Zuhui nodded and said, "Then let's buy 3% of the odd shares!"

"Ok!"

When he came to the United States this time, Lin Zuhui did not intend to rush to invest in long-term stocks in the US stock market, such as Coca-Cola, UnitedHealth, Johnson & Johnson, Wal-Mart, Procter & Gamble and other familiar high-quality companies.

After the establishment of the family office, it will be around the end of this year that the investment will officially start.

Chapter 349 [Field of Traditional Chinese Medicine]

Time flies, and three weeks pass in a blink of an eye.

During this period, Lin Zuhui conducted inspections in the United States, Canada, and the United Kingdom, but did not make specific investments.

Moreover, he is mainly for two things:

First, prepare the family office; he not only chose to cooperate with Korn Ferry International, but also with a British headhunting company.

Second, inspect the branch of Hengjin Investment; crude oil futures speculation is coming soon, and Lin Zuhui has to check it himself to feel at ease.

During this period, Lin Zuhui also purchased overseas real estate for the girls, laying the foundation for future immigration.So far, except for Wang Lingyin, the other seven people (including Lin Zixia) all own luxury villas overseas, with prices ranging from US$500 million to US$800 million.

Li Jiaxin's mansion is the most expensive. It is located in London. It is a manor-style villa covering an area of ​​more than 30 acres, which cost a total of 800 million US dollars.

……

Early December.

Lin Zuhui, who returned to Xiangjiang, walked around various companies, Lin Zuhui felt very satisfied, but also a little bit disappointed.

Satisfaction is because during the 20-plus days of my absence, everything in the company has been running well; loss is because I feel that I am important and have been challenged.

Of course, the loss is only a moment!

As he predicted, as long as he is alive, these companies will grow stronger and stronger, and he has become a spiritual pillar.

For example, the core executives of New Era Group know that in the next few years, New Era Real Estate will take land reserve as an important policy; because as long as there is more land in reserve, there will be land for building houses in the future, and the cost of building houses will be lower and the profits will be greater .

In the previous life, it was precisely because New World Development did not pay attention to land reserves that its competitiveness was greatly reduced later on.In this life, New World Development is also moving in this direction.New World Development puts too much emphasis on the hotel industry, and this industry is slower than the return of office buildings, and the annual income is only about 6% to 10%.

In the office, Lin Zuhui looked at the stock price of New Times Group on the computer at 18.66 yuan per share, and the total market value has exceeded 280 billion.The market value has risen so fast, a large part of which is because Lin Zuhui's 'warrants' have been exchanged for the underlying shares, the total share capital has become 15 billion shares, and Lin Zuhui holds 49.5% of the shares.

Because of the privatization of Huaren Real Estate and Cathay City, the market value of the consortium controlled by Lin Zuhui has been greatly reduced, and his own wealth is tightly biting Li Chaoren.After all, Li Chaoren did not directly hold shares in Hutchison Whampoa or HK Electric.

In the end, Li Chaoren still wants to privatize Hutchison Whampoa, or arrange for Cheung Kong and Hutchison to merge, which is more in line with the interests of the family; privatization law.

On the contrary, Lin Zuhui's privatization of Huaren Real Estate and Cathay City has been repeatedly praised by financial commentators!

Although Lin Zuhui's privatization and reorganization are so easy, it is actually based on his personal financial strength and analysis of the situation; the rest of the consortia do not know how tortuous it is.

Needless to say, Liu Luanxiong, in his previous life, Hang Lung spent a lot of energy on asset restructuring and wasted many opportunities; Li Chaoren did not have the strength and opportunity to arrange the merger of Changshi and Hutchison until the 21st century.

"Dong Dong" knocked on the door.

Assistant Li Ke brought Liang Zhenxun and Lu Donglai to the office together.

"boss"

"sit down"

Lin Zuhui leaned back on the chair and said relaxedly, "Manager Lu, how is the discussion with Weixin Group going?"

Sitting on the sofa, Lu Donglai was more serious, leaned forward and straightened his body and said, "We've almost reached an agreement, and the current price is 5.8 million!"

Lin Zuhui nodded and said: "After the negotiation is concluded, we will sign the contract, and all the acquisition funds will be taken from loans. After the acquisition, Weixin (Hong Kong) Parking Management will operate independently as a group system, and all the acquired loans will be linked to Weixin (Hong Kong). "

Lu Donglai and Liang Zhenxun nodded. The purpose of doing this is because Weixin (Hong Kong) has huge profits every year, and it will not increase the debt of the group.

Lu Donglai asked: "After Weixin (Hong Kong) is taken over by us, how should we develop? Boss!"

What he means is to increase investment, or sit back and enjoy dividends.On the general policy of the group, everyone will still ask Lin Zuhui for his opinion.

Lin Zuhui said: "The purpose of acquiring Weixin is because we want to build the largest parking lot management company in Xiangjiang. Therefore, it is natural to maximize the investment in parking lots. Don't worry about higher loans. It is nothing more than a few years of unprofitability. But the long-term benefits are very good.”

Lu Donglai nodded and said, "Okay, I understand!"

Lin Zuhui added: "Just arrange senior staff, you need to coordinate and manage the general department!"

"Ok, I know!"

Seeing that it was his turn, Liang Zhenxun immediately said: "Boss, do you want to arrange to repay the 20 billion debt. The company's current cash flow is 25 billion, which is quite sufficient!"

It is not a problem that New Times Group's real estate development net profit will exceed 20 billion this year, and it may even exceed a lot.Adding the rental income of 10 billion and others, Lin Zuhui predicted more than 35 billion.The recurring profit still cannot catch up with Cheung Kong, which already reached 30 billion last year, and it is afraid that it will break through 40 billion this year.

But if you add non-recurring profits, it will definitely exceed!

"Will the expenditures for construction fees, interest, and land purchase fees be affected?"

"No, our finance department has done calculations, and it is more convenient to repay the 20 billion loan! If there is a project, you can also take a direct loan!"

Lin Zuhui thought about it for a while. If Huaren Real Estate was to speculate in crude oil futures, [-] million yuan would be enough, and there was no need to invest too much.

"Okay, let's arrange repayment! And, in June and July, I plan to raise funds through a rights issue!"

I have to subsidize some of my own funds, because investing in anything is not as fast as investing in Xiangjiang Real Estate.

Liang Zhenxun was taken aback. If New Era Group raised funds, according to the current market value, it could raise more than 25 billion in one go, and the company would become rich instantly.

Many tycoons in Hong Kong are unwilling to raise funds through rights issue, because if they do rights issue themselves, they will need to spend too much cash;

On the contrary, his own boss has always enjoyed raising funds for the company's rights issue.It can only show that the boss of the family has made a lot of money financially.

But there is also a problem. Other symbols invest a lot overseas, basically using personal funds to invest; while their own boss, although he is also investigating the European and American markets, does not know how much to invest.

Liang Zhenxun said: "In this way, our debt can be greatly reduced, and we don't need to pay so much interest every year!"

Lin Zuhui shook his head and said, "I'm not raising funds through rights issue for debt, but because we have to seize the time in the past few years to develop again! Not only that, you can arrange to divide the two buildings of Harcourt Building and Royal Building The price is 35 billion, and half of the equity is sold to Hengjin Real Estate, and New Era Group will withdraw another 17.5 billion funds.”

The price he gave was very reasonable, and it did not take advantage of the Chinese buyers!

Sure enough, Liang Zhenxun said: "Will the valuation be too high? Although the real estate has rebounded, the office buildings have not improved much due to the evacuation of foreign capital!"

Lin Zuhui waved his hands and said, "These two buildings were bought for 23 billion back then, and now they have risen by [-]%. There is no problem! Make arrangements, and don't let people find gossip!"

"Okay, I will definitely arrange formalities for the transaction!"

In an instant, together with the rights issue to raise funds, Lin Zuhui personally prepared nearly 30 billion for the company.The New Era Group can raise about 8 billion in cash before August.

After repaying the 20 billion this time, the debt of New Era Group is actually only 120 billion, which is about [-]% of the debt ratio.

The funds raised will naturally be spent by Lin Zuhui immediately. He already has many projects in mind.

……

Lin Zuhui came to Wei Yixin's office again. It is convenient for him to go in and out of the Hong Kong government. He made an appointment to meet Wei Yixin, and the meeting will be reached soon.

Lin Zuhui was sitting on the sofa, and Wei Yixin didn't put on a show, and came to the sofa to accompany him.

"Mr. Lin, I heard that you visited England for a while, how did you get it?" Wei Yixin said with a smile.

I have gained a lot. Lin Zuhui's trip to the UK this time is not to investigate the market, but mainly to seek connections.In fact, whether he is in the UK, the US, or Canada, he is very popular there.

In the United States, he met with the governor of California; in Vancouver, he met with senior officials of British Columbia; in the UK, he met with the mayor of London and the conservative D.Needless to say, there are many other bankers and entrepreneurs.

Lin Zuhui himself is very popular in Europe and the United States because he is young and the second wealth among Chinese.

"Very good! I have already decided to go to London to invest in docks, telecommunications and other fields in the second half of the year! Moreover, this time I bought real estate in London." Lin Zuhui said without any concealment.

"That's really great. London welcomes rich Chinese like you to invest, and the investment environment there is very good!" Wilson said.As the governor, he has been repeatedly reminded by the London side to attract more wealthy Chinese investors to invest or immigrate to London.

Lin Zuhui nodded, and then got down to business: "Mr. Wei Yixin, I want to apply for a satellite TV license for Asia Television."

Wei Yixin said in surprise, "Such a coincidence?"

Lin Zuhui smiled and said, "You mean Superman Li, right?"

"Yes, he also came to communicate with me! But I feel very embarrassed, because TV licenses are granted by the Hong Kong government with exclusive rights. If satellite licenses are granted, it will not affect ATV, TVB, and cable TV. Fair!"

Lin Zuhui nodded. What Wei Yixin said made sense, but Li Chaoren still got the satellite license in his previous life, which shows that the influence of the rich is too great.

"I support your point of view in principle, but our ATV has a TV license, this time it is just adding more channels. And you should know that I am integrating the communication industry and hope to export Hong Kong's culture to Asia. This is the same as that of the Hong Kong government. The development of the service industry formulated in those years is the same, and it also echoes the economic development trend of Hong Kong."

Wei Yixin said suddenly: "Mr. Lin, I actually admire you very much. You are different from other real estate developers. You have created a lot of economic value that Xiangjiang does not have!"

Lin Zuhui was taken aback for a moment, and quickly said modestly: "You are too much, and I am just trying!"

In fact, he himself is very confident that his so-called "Hong Kong culture" will definitely create great economic benefits. Even if it is not as large and comprehensive as the previous Korean culture, it will at least continue Hong Kong's economy.

You know, during the Asian financial crisis in [-] in the previous life, Mr. Dong from the Huaxia Hong Kong government was so anxious that he asked Li Chaoren who was on vacation in Hawaii to recall Xiangjiang urgently, hoping to become a "traditional Chinese medicine industry".Of course, it only shows that he went to the doctor in a hurry at that time, and Xiangjiang's "Chinese medicine port" eventually became an empty slogan.

Lin Zuhui didn't look down on Mr. Dong's proposal of "rejuvenating Hong Kong with traditional Chinese medicine", but at that time Japan and South Korea had already occupied the market, and Li Chaoren was a pure real estate developer. To put it bluntly, the Chinese medicine port with an investment of US$50 billion has always been his. flicker.

Lin Zuhui also wants to do it, but he is going to do it right away!

Wei Yixin once again praised: "Many are your senior businessmen, they are never as confident as you in doing things, and I always see confidence on your face. Your mentality is really good!"

Lin Zuhui said modestly again: "Where is it? Maybe because I am young, I am not afraid of failure. I just stand up when I fall!"

Wei Yixin nodded, and finally he said seriously: "I agree in principle to your ATV holding satellite TV, but it needs to be approved by the Legislative Council. You can come up with a specific plan and communicate with our Hong Kong government!"

Generally speaking, Governor G will not refute something passed by the Legislative Council; similarly, if Wilson agrees to something, the Legislative Council will not refute it.

And Lin Zuhui has half of the members of the Legislative Council, so of course he is not afraid of failing.

In the end, Lin Zuhui also put on Li Chaoren: "Mr. Wei Yixin, I can't interfere with the license that Li Chaoren applied for, but I hope you will consider the importance of franchise rights, so Cantonese programs cannot be broadcast. I believe TVB , Wired also means this!"

"Okay, we'll seriously consider it! Patent rights are really important!"

The so-called franchise right is the 'franchise right' given by the Hong Kong government. If it can be destroyed wantonly, then something big will happen!Xiangjiang's electricity, gas, buses, telecommunications, aviation, etc. are all exclusive rights.

……

Back at ATV, Lin Zuhui also held a high-level meeting.