I want to be a giant of Hong Kong Island

Chapter 687 [Orient Overseas Trouble]

The Wu family owns a total of more than ten shopping malls in Hong Kong, of which five have a commercial area of ​​more than 200 million square feet:

Wharf: At this time, Wharf includes Harbor City and Ocean Terminal, with an investment property portfolio (rent collection) of up to 550 million square feet; five first-class buildings will be expanded in the future (no height limit, expected to be around 40 floors) , The investment property portfolio is expected to reach 400 million square feet; that is to say, in the 90s, the entire Wharf portfolio (rent collection) could reach 950 million square feet.

New World Center: The area of ​​the investment property is 260 million square feet, including two hotels - Sailing Hotel and New World Hotel, three office buildings, three hotel-style management apartments (self-supported), and a shopping mall (3-story podium) .

Yangtze River Center: The investment property area is 250 million square feet, including two hotels - Ritz-Carlton Hotel, Shangri-La Hotel, two office buildings, two high-end residential buildings, and a shopping mall (6-story independent building).

Causeway Bay Times Square: The investment property portfolio covers an area of ​​240 million square feet, including two first-class Grade A buildings and a 17-storey shopping mall.

Whampoa City Plaza: The investment property portfolio covers an area of ​​200 million square feet. It is a commercial complex integrating hotels, office buildings and shopping malls.

In addition to these five commercial complexes, the Wu family also has shopping malls such as Galaxy Center, Tsim Sha Tsui Center, City One Shatin, Hop Fu Center, and five commercial districts in Tin Shui Wai;

The Wu family owns 18 shopping malls, large and small, and will invest in Plaza Hollywood (Lion Rock) in the future;
Wu Guangyao has always treated this kind of shopping center (integrating shopping, office, hotel, and apartment) in the same way as a commercial building.

吴氏家族在整个香港持有90幢商业大厦（不包括综合体里的写字楼，本岛68幢高度都在30层以上，九龙22幢都在17层以上），还有18个购物广场。

Apart from these investment properties, the Wu family also owns huge industrial buildings, such as Tin Shui Wai Industrial Park and Hung Hom Industrial Park, which are enough to be proud of the world;
Needless to say, the Wu family also owns a large number of independent factories and industrial buildings;
The area of ​​industrial buildings owned by the Wu family is almost as high as 7000 million square feet (5000 million square feet in the Tin Shui Wai Industrial Park);
According to the annual output value of the industrial buildings in Hong Kong Island in the 80s of the previous life - about 600 million square feet, the area of ​​the industrial buildings of the Wu family in this life needs to be supplied by the previous life for 12 years.

It is precisely because the Wu family holds so many industrial buildings that the price of industrial buildings in Xiangjiang is far lower than the level of the previous life;
This is exactly what Wu Guangyao needs to see, to severely suppress the prices of industrial buildings;
Although this cost me a lot of money, it also indirectly promoted the industrial development of Hong Kong.

Finally, the Wu family also holds a large number of villas and high-end residential buildings;

Holding a large number of villas is easier to understand, while holding high-end residential real estate is purely a residential building purchased by Wu Guangyao from his listed real estate company to take advantage of the real estate plummet;

In this way, it can be used as an investment, and it can also alleviate the financial situation of listed real estate companies, killing two birds with one stone.

In June, the Wu family announced a privatization acquisition of Landmark;
At this time, Hongkong Land’s share price was 7 Hong Kong dollars per share, with a total share capital of 11 billion shares and a total market value of 77 billion Hong Kong dollars;
The price given by the Wu family was very high - a 60% premium, which was immediately overjoyed by the small shareholders, who sold their shares one after another.

In less than half a month, the Wu family increased their shareholding to 90%.

At this point, the privatization of Xindong announced a complete success. As for the remaining 10% shares, there are naturally too many ways to get it.

In late September, the Sino-British Joint Statement on the Hong Kong Issue was initialed in Beijing;

On October 10, Wu Guangyao participated in the National Day Observation Ceremony held in Beijing and was interviewed;

In mid-November, Mrs. Thatcher arrived in Beijing and signed the Sino-British Joint Statement with Huaxia, which clarified the policy of "one country, two systems" after 11. People in Hong Kong stabilized and the stock market rebounded.

Central, Oriental Culture Hotel.

Wu Guangyao, Lao Huo and Dong Da gathered together for a banquet.

Wu Guangyao said: "What is the current financial situation of OOCL?"

Lao Huo brought Dong Da to ask him for help, although Wu Guangyao may not refuse, but it is impossible to cover everything;

Dong Da said: "Last year (1984), the company's annual profit was 1.6 million Hong Kong dollars; however, due to the high debt of the company, the long-term and short-term debts were as high as 102 billion Hong Kong dollars, and the interest alone required an expenditure of 6.2 million Hong Kong dollars; at the same time, the company's assets and liabilities The rate has reached as high as 80%.

Wu Guangyao frowned, the asset-liability ratio was as high as 80%, indicating that the company was on the verge of bankruptcy;

In 1985, the world shipping industry would fall into an unprecedented recession;

According to this situation, without the help of external forces, OOCL's assets will reach a negative value in the first half of the year.

Wu Guangyao said: "This year's shipping situation will be even worse, you have to prepare for the worst!"

In the previous life, OOCL’s debt in 1985 was as high as 200 billion Hong Kong dollars, which shows how bad shipping was in 1985;

In one year, a new debt of 100 billion Hong Kong dollars was added. In addition to the shipping slump and recurring profits, the more is that OOCL ordered 24 new ships in Japan and urgently needed cash settlement.

If someone else analyzed this year's shipping situation, Dong Da would still be lucky, but Wu Guangyao's words are obviously like ironclad evidence, which cannot be doubted.

This is the most powerful ship lord, the real 'king' in the history of world shipping.

Dong Da's mind sank, and he immediately changed his attention when he came, and said, "Uncle Yao, can you tell me what to do?"

Wu Guangyao first asked, "What did you plan to do at the beginning?"

Dong Da said: "My plan is to persuade the Japanese shipyard to accept a small amount of compensation and cancel the order contract for 12 new ships; the other 12 new ships cost 2.4 million U.S. dollars, and I plan to pay through a combination of bank loans. .”

Lao Huo interjected: "The mainland's freight demand has increased, and the shipping orders are intended to be handed over to Dongfang Shipping."

Wu Guangyao nodded. After the mainland is opened up, it will naturally require a large amount of imported goods, which will also require a large number of ships;

Although the mainland can build ships, it is still very difficult for large ships;

And even if it can be made, it is too late now.

As for buying a large number of ships, it is even more impossible, after all, foreign exchange is very tight.

Thinking of this, Wu Guangyao was even a bit apprehensive. He also had a fleet under his banner, but he didn't receive many orders from the mainland;
At this time, Wu Guangyao's total deadweight was 500 million tons, including 300 million tons of container ships and 200 million oil tankers, making him a major ship owner in the world;

Of course, this fleet, like everyone else, does not make much profit;
However, because there is no debt, and they are all large ships (low operating costs), they will not lose money.

Wu Guangyao pointed out: "This is far from enough to save OOCL!"

Dong Da nodded seriously, without any doubt about Wu Guangyao's words.

Wu Guangyao continued: "Who are OOCL's current creditors?"

Dong Da replied: "More than 50 countries, more than 200 creditors."

Wu Guangyao thought about it, Dong Da saved OOCL in his previous life, but he also changed from a boss to a worker.

"You have to negotiate with these creditors—the agreement on the reorganization of OOCL; the main content is: establish a new company of OOIL International, inject its container ships into this company, and be responsible for the container transportation business; OOIL International needs new For investors, Lao Huo is more suitable, and can inject a start-up capital.

Orient Overseas Holdings holds a majority of the shares of Orient Overseas International, and all the debts of all creditors are converted into notes, preferred shares and new ordinary shares of Orient Overseas Holdings. Xu Ya set up a debt fund with a part of the equity, and the dividends from this part of the shares will be used to redeem her own shares until it is paid off.”

The more Dong Da listened, the more reasonable he felt, but he also knew that this was not an easy task;
Because the creditors of 50 countries are equivalent to the laws of 50 countries;

This obviously requires great courage to negotiate with these creditors one by one to allow OOCL's restructuring plan.

Although Lao Huo is a layman in shipping, he can also hear that this is the only way for OOCL not to go bankrupt;

"It's still Guangyao's old way. If it were me, I'm afraid I can only think of ways to inject capital, borrow money, and find business. I never thought that the company can be saved only by asking the creditors to reorganize the company."

Wu Guangyao said in a deep voice: "It's a good idea, but it's very difficult to actually implement it! I'm also a ship owner, so I can't inject capital; however, as a bank, I can promise a new loan of 1.5 million US dollars."

Dong Da was overjoyed immediately, isn't bank loan better than capital injection?

After all, capital injection is equivalent to diluting the shares of one's own family. Of course, the current capital injection is also necessary.

Wu Guangyao knew that for Dong's OOCL, Huo Huo spent a full 2.2 million U.S. dollars in his previous life, 1.2 million U.S. dollars was used for the normal operation of OOCL Industrial, and 1 million U.S. dollars was used for the start-up capital of OOCL International.

In this life, Wu Guangyao at least allowed OOCL to avoid losses in 1985, which is relatively easier than restructuring;
And with the new loan of 1.5 million US dollars promised by itself, it will greatly ease the difficulty of OOCL's restructuring.

(End of this chapter)