Reborn Tycoon Rise

The collapse of Jianing Group has an impact on the entire Hong Kong, second only to the scene where Margaret Thatcher fell down last year. Its total debt exceeds 10 billion Hong Kong dollars, and banks and financial institutions such as HSBC, Standard Chartered, Hang Seng, and Wing On have all been severely affected. .

In the real estate industry, a large number of properties and projects under construction owned by Jia Ning have been sealed by the court, waiting to be auctioned before compensation to creditor institutions.

There is no problem with this approach, but in Xiangjiang, a large number of real estate projects are not solely owned, but jointly developed by several major consortiums. With this kind of operation, everyone makes money together, but if something goes wrong, all participants must Bad luck follows.

Jia Ning is currently developing dozens of real estate projects. The bankruptcy crisis has deprived a number of partners, among which Jia Ning Real Estate is the largest one.

After Land lost the Wharf in 1980, the top management, led by Newbikin and Pau Fullerton, came up with the trick of mutual control of Yizhi in order to prevent Land from falling into the same fate as Wharf. Each party holds about 40% of the other party's stock. , coupled with the fact that in order to protect the British-owned consortium, the Hong Kong government revised the conditions for triggering a comprehensive takeover offer, lowering it from 51% to 35%. As a result, Jardine Land is impregnable and there is no way to break this defense.

It's just that the dams began to collapse from within. After Yi Zhi Mutual Control, Land's investment strategy underwent a major change. It gave up its previous conservative, prudent and prudent style of rent-to-support loans and began to become aggressive, eager and speculative. , entered the market at a time when real estate prices were extremely high, and single-handedly supported the high housing prices. At the same time, he knew that the future of Hong Kong was uncertain, but he blindly believed in the British government and bet all his wealth and life on it.

Land's top management made serious mistakes in their judgment of the political and economic situation in Hong Kong. By September 1982, the iron lady fell into disrepair and land prices in Hong Kong plummeted. It was only the development plans of Exchange Square, Miramar Hotel, Carnegie Towers and Baibishan. The four major investment projects alone suffered losses of more than HK$5 billion.

The plummeting land prices have also led to falling rents and bleak business in shopping malls. These two were originally Land's main businesses. The return of funds has slowed down. Coupled with heavy debts, Land's life has been very difficult in the past year. HSBC Bank has repeatedly called for debts and almost... It drove Newbijian and Bao Fuda crazy.

However, at the most critical moment, there was a problem with the exchange rate of the Hong Kong dollar. You must know that the financing channels of the entire Jardine Matheson Group are not only in Hong Kong. Banks in Japan, Southeast Asia, the United Kingdom, and Europe have all cooperated with the Jardine Matheson Group. This kind of transaction is naturally based on foreign exchange borrowing.

When the Hong Kong dollar exchange rate was stable, borrowing foreign exchange was not a problem. But now the Hong Kong dollar exchange rate has plummeted, which has increased the entire group's overseas liabilities out of thin air. Although the Hong Kong government finally set a new linked exchange rate, when Jardine borrowed money, the Hong Kong dollar against the US dollar was 5:1, but now it has become 7.8:1. The original debt of US$100 million only needs HK$500 million to repay. , but now it has become 780 million Hong Kong dollars. The losses are enough to make the top management of Jardine heartbroken.

The house leaked and it rained all night. At this most important moment, Jianing Group went bankrupt.

Bao Fuda felt that he was going crazy. If Jia Ning was just a normal bankruptcy, that would be fine. But he never expected that the entire Jia Ning, a super consortium with assets of tens of billions of Hong Kong dollars and a scale no less than that of Land, was all faked?

All of Jia Ning’s assets were seized, including several large-scale projects in cooperation with companies such as Real Estate.

Jardine executives immediately held an emergency meeting.

After Niubijian entered the conference room, his first words were: "Today's meeting is not to hold anyone responsible, but to discuss a way for everyone to extract Yihe from the whirlpool of Jianing." At the same time, we must also ensure that many of our previous projects with Jia Ning will not suffer serious losses."

Everyone nodded silently. When it came to responsibility, they and the senior officials were all responsible. Who would have thought that Jianning, one of the top ten financial groups in Hong Kong, was actually a catastrophic scam. Even the Hong Kong government and HSBC were also deceived. , but if the entire Jardine Matheson Group suffers serious losses as a result, then their management will not reap the fruits.

Although the equity of Jardine Matheson has been severely dispersed, and the Keswick family, the only major shareholder, only holds 10% of the shares, the management headed by Newbijian has controlled the board of directors. Under normal circumstances, there is no power to challenge them. A group of people, but if the entire Jardine Matheson Group suffers huge losses, all shareholders can easily be called upon by thoughtful people to convene a shareholders' meeting to remove them.

At present, although Jardine Land is suffering losses, the overall reason is that the Xiangjiang market has encountered big problems. This can be regarded as a reason to dump the blame. However, if a huge loss occurs due to Jia Ning's involvement, then it has already been eyeing the opportunity to return to the market. The Keswick family, which has regained control of Jardine, will take this opportunity to launch an attack.

Bao Fuda said: "Everyone, we currently have three cooperation projects with Jianing Group:

The first one is the reconstruction plan of the original site of Ka Wai Plastics Factory in Yuen Long. It was originally planned to be built into an industrial building. However, the price of industrial land has dropped so much in the past year that the construction of the building was stopped halfway through. At present, this building has been It was seized by the Xiangjiang Court, but the scale of the investment was not large. We invested a total of HK$80 million.

The second cooperation project is the Miramar Hotel. The land cost a total of HK$2.8 billion at that time and is currently at a standstill. HK$400 million has been invested in the construction. We hold 40% of the shares in this project, which means that We have invested HK$1.28 billion so far.

The third project is the Carnegie Building. In order to purchase the Hilton Hotel from Hutchison Whampoa, plus the subsequent demolition costs, we spent almost 3 billion Hong Kong dollars, and the construction cost was 1.92 billion Hong Kong dollars. There are several more buildings in this building. It will be completed next month and is in the stage of selling off-plan properties to external parties. Because of Jianing's problems, the building is currently blocked and cannot be sold, waiting for the auction by the creditor bank. "

"The creditor banks of Jiani Building should be Standard Chartered Bank and Bank of East Asia, right?" Niubijian asked after listening carefully.

"Yes." Bao Fuda said: "The loan to purchase the Hilton Hotel came from Standard Chartered Bank, and the construction cost of the subsequent building was a loan from the Bank of East Asia."

"That is to say, if we want to continue to sell the off-plan properties in Jianing Building, we must convince Xu Zhi and Sides?" Newbijian asked.

"It can be said that according to the law, as long as the creditor banks relent, the property can return to normal operations." Bao Fuda said.

Niubijian pondered for a moment and said: "Now that Land and Jardine's liquidity is insufficient, we must take back the Jiali Building and sell the off-plan property as soon as possible to cash out. Otherwise, with the current debt situation, our funds will not be able to last for a few months." .”

"Then we are going to have an appointment with Xu Zhi and Sides. If neither of them agrees, we won't be able to get the Jianing Building back." Bao Fuda frowned and asked again: "Is that an appointment together or separately? "

Negotiating together makes it easier for the two parties to form an alliance, but if they are separated, even if they can still contact each other, it is much better.

"Let's go together!" Niubijian sighed: "There is not much time to delay it anymore, we must solve this problem as soon as possible."