The Industrial Giant Reborn

Many of Hong Kong's legal foundations come from the United Kingdom. Therefore, many regulations are similar to those in the United Kingdom and the Commonwealth. Even if they are different, they are very common, so there are more legal restrictions.

"If the acquisition reaches 16%, then Standard Chartered Bank will definitely worry that we will take action on it. Let's not exceed it for now. At least it will be 15.9% on the surface. After that, I will arrange for the capital from the United States to acquire some appropriately. That's enough, we won't take the initiative to acquire it anyway, just let them feel at ease." Chen Zhiwen said.

If any company is acquired on a large scale by another person with stronger financial strength, its major shareholders will definitely be panicked. It will be the same for everyone. What's more, Standard Chartered is already a century-old company, and its shares have long been diluted, just like other large Western companies. Now that the management is in charge, once there is a new major shareholder, the management will definitely have concerns in this regard.

According to the original history, next year, Lloyds Bank will launch a hostile merger with Standard Chartered. By that time, he can take the opportunity to completely control Standard Chartered. In this way, there will be a lot less resistance. After all, Hong Kong If capital forcibly acquires a large local bank in the UK, the resistance it will face must be very great. This is different from its good-faith acquisition of the British automobile industry. The attitude of the government will be much better. Besides, the importance of the financial industry , but it is higher than the manufacturing industry of the same scale.

"Okay, this is also convenient. Otherwise, only HSBC or Hang Seng can absorb such a large amount of loans." Zhou Jiayang said.

Nowadays, among the larger banks in Hong Kong, the first tier is actually HSBC, Hang Seng, Standard Chartered, and Hisense. The others are much smaller. Because of Hong Kong’s banking laws, the huge loans of Land, Hutchison Whampoa, and Wharf are You can't put it in Hisense. If even Standard Chartered can no longer use it, then you can only use HSBC.

"This issue actually needs to be considered when we actually acquire Standard Chartered." Chen Zhiwen said: "Select a few suitable Chinese banks, and then let Hisense Bank buy no more than 16% of the shares. After that, we will slowly transfer other loans. , otherwise when the time comes, it will be too passive to suddenly transfer Standard Chartered loans on a large scale. Even if it is not given to HSBC, it will probably be ripped off by other banks."

In the two years from 1983 to 1984, the relationship between Chen Zhiwen and HSBC became slightly better. However, since HSBC is preparing to part ways with Hong Kong in the future, there is no reason for him to continue to cooperate with it and cultivate a group of stronger Chinese banks in Hong Kong. , it is also good for you. This is similar to manufacturing suppliers. If HSBC is the only one in Hong Kong, then you often have no choice when you need a lot of funds. In the future, although Hutchison Land will not participate in ordinary Real estate projects, including large office buildings or shopping malls, still require investment, and these investments have high capital requirements.

"Okay, I will discuss this matter with Dong Youwei and Huo Jianning." Zhou Jiayang said, this matter is indeed very important. The total loans of Land, Hutchison Whampoa and Wharf in Standard Chartered exceed 10 billion Hong Kong dollars. Once Standard Chartered is also acquired, or the boss becomes a major shareholder, these loans will need to be transferred within 6 months, which will be very passive.

"Okay, the most important thing at the moment is the new terminal at Kwai Chung Port, which must be won." Chen Zhiwen said again.

"Understood, Chen Sheng." Zhou Jiayang nodded and said.

The bidding for the right to use the Hong Kong port involves a huge amount of capital, and the Hong Kong government also needs to treat it with caution. After releasing the news, it is just waiting for registrations from all parties around the world, and will not enter the process soon. For the Hong Kong government, it is coming Naturally, the more people who participate in the auction, the better.

Chen Zhiwen is not in a hurry. Several competitors in Hong Kong are not as big as Hutchison Whampoa, but there are several large overseas port companies that are large enough. However, are they willing to invest massive amounts of money in Hong Kong? There is a high probability that it will not happen. Therefore, the matter of Pier 5 is basically determined. It is just a matter of time.

The first four ports were once divided up by giants such as American Capital, Hutchison Whampoa, Wharf, Jardine Matheson, and Swire. Today, with the acquisition of Hutchison Wharf and Land, Hong Kong's existing four terminals have also been divided. He got two and a half. Once Pier 5 is captured, most of Hong Kong's ports will be in his hands.

Another week passed quickly and we entered April.

On this day, a special guest came to the Chen family: Huo Yingdong.

"Hello, Huo Sheng." Chen Zhiwen took Huo Yingdong to the sun room located above the third floor. The weather in Hong Kong is relatively cool at the moment. It is very comfortable to bask in the sun and blow in the wind. Plus, the glass above the sun room is also It has the function of blocking ultraviolet rays and will not cause damage to the skin.

"I don't know how many wealthy Hong Kong families want to buy one of the luxury houses in Victoria Peak. Unfortunately, in my time, it was too difficult for Chinese people to live here, even if they had money." Huo Yingdong said with emotion.

"Yes, it was really difficult for Chinese people in the 1950s and 1960s." Chen Zhiwen nodded and said, "If Huo Sheng wanted to live in Taipingshan, he could just buy a house. Now there are many owners who want to leave. "

In the 1950s and 1960s, there were several Chinese capital companies, but their scale was far behind that of British capital. Not to mention the level of the four major foreign banks, even ordinary foreign banks could not compare with many Chinese capitals. Besides, even if there were It is impossible to live in Taipingshan without money. In the early days, the treatment here was only available to high-level government officials and British giants in Hong Kong.

In fact, the hidden reason for the rise of Chinese capital in Hong Kong in the 1970s was that the relationship between the mainland and the West improved, and it also entered the United Nations. It was also because of the pressure from the mainland on the British in the 1960s that the British in Hong Kong had to establish the Independent Commission Against Corruption and had to treat it well. The Chinese finally gave the Chinese-funded consortium the opportunity to rise.

"Forget it, I'm already old, why should I live in Taipingshan?" Huo Yingdong smiled and waved his hands and said, "Chen Sheng, I came here today because there is something I need to talk to you about."

"Please tell me." Chen Zhiwen nodded and came to his home. He didn't really just come to take a look. There must be something wrong.

"Should Chen Sheng know about the Dong family of OOCL, right?" Huo Yingdong asked again.

"I know, I heard that the Dong family is in a very difficult situation right now, and OOCL is also facing the threat of bankruptcy." Chen Zhiwen nodded and said.

In the 1970s, three of the top ten shipping giants in the world were from Hong Kong, namely Pao Yugang's Global International, Dong Haoyun's Orient Overseas and Zhao Congyan's Huaguang Shipping. In 1977, they ranked first, seventh and fourth respectively. ten.

Among them, Zhao Congyan is relatively low-key. Whether he is tenth or hundredth, he can just go about his business with peace of mind. However, Dong Haoyun cannot do it. He wants to be number one and takes his reputation too seriously. He even wrote a letter to complain to Time Magazine, saying that Bao Yu Gang only holds the largest tonnage of the listed company's ships, while he wholly controls his own company. If Bao Yugang converts it into a share ratio, the tonnage is not as good as his own.

Although this logic is a bit nonsense, it is also recognized by many Hong Kong people, but Time Magazine did not tolerate him. In order to avenge his shame, Dong Haoyun began the path of rapid expansion.

In fact, as early as the mid-to-late 1970s, he, like Bao Yugang, saw that there would be problems in the shipping market, but he believed that the problems in the shipping market would not last long, and that this trough period was a good time for expansion. .

As a result, the Dong family took out a large amount of loans and ordered a large number of cargo ships from Japan, including the world's largest supertanker, which set a record for the world's largest ship. At the same time, he also spent a lot of money to buy fleets in the United Kingdom and the United States. Increase your own tonnage.

During this period, Pao Yugang gradually sold off the freighters in his hands. After one positive and one negative, by 1982, OOIL's tonnage surpassed that of Global International and became the number one in Hong Kong, but it was not yet the number one in the world. The first one was down, and the second one was up, not the seventh-ranked challenger.

Dong Haoyun continued to struggle, and Pao Yugang even paid him a special visit to remind him that there was a big problem in the shipping market and that he must be cautious. Unfortunately, he didn't listen and continued to expand acquisitions. As a result, OOCL has not yet reached the world's largest scale. When he was young, he died of a heart attack.

Soon after, the global shipping crisis hit, and the entire Orient Overseas owed a huge amount of debt. The scale of the entire company was just playing with leverage to blow bubbles. Once the capital chain was broken, the entire company was immediately abolished.

In 1982, OOCL's external debt exceeded 10 billion Hong Kong dollars, making it one of the largest debt lords in Hong Kong. This was followed by the Hong Kong real estate crisis. Although the real estate market had nothing to do with OOIL, banks were affected and would naturally be forced to do so. Regarding debt, the second generation of the Dong family is still very capable. They have been arguing with the creditor banks for several years and have persisted until now.

"Yeah, Dong Haoyun used to have a good relationship with me. It's a pity that he died suddenly. His family company is also facing unprecedented difficulties now, so I also want to help them. I wonder if Chen Sheng has any If you are interested in investing, now three years have passed since the shipping crisis, oil prices have also fallen, and global trade has begun to rise, this may be a good opportunity." Huo Yingdong said.

"With Huo Sheng's strength, it shouldn't be a big problem to help OOCL, right?" Chen Zhiwen said with a smile. In the 1960s, the Huo family almost occupied the throne of the first Chinese family in Hong Kong. Unfortunately, it was rejected by the then British Hong Kong government. Suppressed, even Huo Yingdong's favorite project, the "Chinese Real Estate Building", was forced to be sold to a British-owned group because the Hong Kong Telephone Company did not answer calls. The entire Huo family slowly withdrew from the mall. However, because of their relationship with the mainland, the Huo family monopolized the sand in Hong Kong and were called the czars of the generation.

Regardless of the construction of any building or highway, sand is needed, and it must also be river sand. Sea sand cannot be made into building materials because it contains salt. In a small place like Hong Kong, there are many construction thieves, but there is no river. It can only be imported from the mainland. , this is equivalent to the Huo family controlling the lifeblood of all real estate companies in Hong Kong, including many British giants, otherwise they would have to enter Hesha from Southeast Asia.

Although the Huo family has become low-key, their once huge wealth is still there. A skinny camel is bigger than a horse. Huo Yingdong has invested or donated hundreds of millions in domestic countermeasures in the past few years, and all of them are real money.

"Chen Sheng is joking. It's true that I can't get the money. It's just that OOIL's problems are too serious. It's safest to have Chen Sheng's help." Huo Yingdong said with a smile.

"What kind of help do you need?" Chen Zhiwen nodded and said. Last year, Orient Overseas' losses exceeded HK$800 million. It is estimated that no one in Hong Kong can match it. Even several large real estate companies did not suffer such heavy losses.

In the original history, it was Huo Yingdong and mainland funds who jointly injected capital, and the Dong family cleared their family shares at once and only promised to become a manager, which barely ensured that OOIL survived. By the 1990s, world shipping After recovery, the company turned around from losses to profits, and because the Dong family lost their shares and became high-level wage earners, they were considered semi-deprecated.

Of course, the second youngest member of the Dong family is even more awesome.

"The easiest way is of course to inject capital. It doesn't need to be a lot. A few hundred million Hong Kong dollars is enough. What I hope more is that Hisense Bank can issue a low-interest loan to Orient Overseas to offset several liabilities with higher interest rates, so as to Reduce OOCL’s debt problem," Huo Yingdong said.

"Isn't this equivalent to using Hisense Bank's money to subsidize Orient Overseas?" Chen Zhiwen asked rhetorically. Now, the Hong Kong real estate market has begun to rebound, and he has also invested in many future real estate giants. Hisense Bank's loans Basically, there will be no problem like the previous problem of unsaleable loans.

"The low-interest loans filtered by Chen Sheng are only comparable to the few loans held by OOIL. You also know that when Dong Haoyun was still there, he borrowed a lot of high-interest loans in order to expand. In the past two years, for The same goes for guaranteed loan repayment, and the interest rates on global loans were very high before, and now they are all low. It is normal to offset the old loan with a new loan." Huo Yingdong said: "The interest expense of this new loan will not be low. at current normal interest rates.”

"Then why are you looking for me? Can't you look for HSBC?" Chen Zhiwen said again.

"HSBC couldn't pass OOIL's risk approval, and Shen Bi was unwilling to let it go," Huo Yingdong said.

"The risk is indeed very high. Even if I am willing to lend money, I will definitely need a high interest rate. This is the most basic business logic of the banking industry. Huo Sheng will not understand it." Chen Zhiwen added that if there is no risk in bank loans, then The interest rate can be kept very low, and the project risk is high, so the bank will naturally charge interest rates.

"Indeed, I know this." Huo Yingdong nodded and said, "Sheng Chen, actually, it's not me who wants to keep Orient Overseas, but the mainland government. They don't want this shipping giant to go bankrupt, but they don't It was better to come forward directly, so I was entrusted. As for the risk issue, the mainland promised that it would allow Orient Overseas cargo ships to undertake the cargo export business of mainland ports." (End of Chapter)