In the Miramar Hotel, in the presidential suite on the highest floor, two British ghosts held a private meeting.
The reason why it is private is because these two people have distinguished status. One is Qi Dezun, the chairman of Hutchison, one of the four major foreign banks today, and the other is the future executive of HSBC, Hong Kong's "quasi central bank".
Under normal circumstances, the meeting between the two would not need to be so mysterious, but now Hutchison Group is in the most dangerous moment in its history. The company's capital chain has dried up, with debts of hundreds of millions of Hong Kong dollars, and has been called on by dozens of banks, and HSBC has Facing a high-level change, the meeting between these two people will cause countless reveries and violent fluctuations in the entire Hong Kong stock market.
"Mr. Shen Bi, congratulations on becoming the chairman of HSBC Bank." Qi Dezun smiled and shook hands after seeing Shen Bi.
"Thank you." Shen Bi said lightly. The icing on the cake was that he didn't care at all.
"Please sit down." Qi Dezun gestured politely. Although he was arrogant, he was not a fool. Now he was begging HSBC, so he was naturally very polite.
"The scenery here is very good. I never thought that there is such a sea view here in Kowloon." As a British person, talking about the scenery and weather during casual chat is instinctive and an adaptation before communication.
"Yes, Kowloon will definitely become Hong Kong's new commercial center in the future. Hutchison owns a lot of land in Kowloon. When developing it in the future, we still hope to cooperate with HSBC." Qi Dezun said with a smile.
"The future is too far away, so let's discuss it now." Shen Bi looked at Qi Dezun and said.
"Mr. Shen Bi, what do you think of yesterday's letter incident?" Qi Dezun went directly to the topic.
"It's very troublesome. I've lost at least 200-300 million yuan. The current market value of Hutchison Group is less than 500 million Hong Kong dollars. If it was an ordinary company, it would have collapsed long ago." Shen Bi said.
"Mr. Shen Bi, Hutchison is not an ordinary company. Although the stock price fell a lot at the opening yesterday, in the afternoon, the stock price rose again. Although it is not as good as the previous market value, it is still maintaining stability. This It shows that many people still believe in Hutchison." Qi Dezun said with a smile.
"It's a bit strange, but Hutchison's share price shouldn't have anything to do with me, right?" Shen Bi said.
"It doesn't matter. I asked Mr. Shen Bi to come out because I hope Mr. Shen Bi can do a favor." Qi Dezun said: "I want to start a port project in Indonesia. Although this port currently encounters many problems, no matter what, this is a port project. It is a very high-quality natural port, and any consortium that takes it over will make huge profits."
"Isn't the Indonesian government going to take back the port? How can you sell it?" Shen Bi asked with a frown.
"This is not a problem. I will find a way to delay the Indonesian government for a few more months. As long as this port changes hands, the Indonesian government's previous reasons for wanting to take it back will no longer be valid." Qi Dezun said.
"I don't understand Indonesian law very well, but under normal logic, this method will have great consequences." Shen Bi said.
"Yes, but as long as the consortium that buys it has a strong background and can continue port construction, and as long as it communicates well with the Indonesian government, it shouldn't be a problem." Qi Dezun said.
"Selling to an internationally powerful European and American consortium is indeed a way, but even if these people take over, you still won't be able to get back the investment cost." Shen Bi nodded and said.
"As long as we can get some of it back," Qi Dezun said. Hutchison's capital chain was about to collapse a long time ago. Now it can only maintain the company's most basic operations. There is no spare capacity to develop a large overseas port. Although Richard He was not satisfied with asking him to sell a large amount of Hutchison's assets, but they still had the same view on how to deal with the terminal.
"I do know some big companies that have chain ports in Europe. I'll ask you a question before I get back to you." Shen Bi thought for a while and said, although he didn't like Qi Dezun, he didn't have any grudges. It would be okay to help someone like this. One is to reduce Hutchison's risk, which is also beneficial to HSBC, and the other is to benefit from it.
"Thank you, Mr. Shen Bi." Qi Dezun said with a smile: "One more thing, the land prices in Hong Kong have increased in recent months. I estimate that they will slowly return to normal in the next one or two years, so I would like to apply for another one from HSBC. HK$100 million in loans.”
"One hundred million?" Shen Bi asked: "What is the collateral? Hutchison should not have any unsecured assets now, right?"
"No, but as long as 100 million funds are obtained, many projects can be launched. When the projects are completed, the previously trapped funds will flow, and Hutchison's capital chain will slowly begin to return to normal." Qi Dezun said.
"I can't help you without enough collateral. HSBC also has to consider risks. Even if I become the future Taipan, I can't take such a big risk." Shen Bi shook his head and refused.
What Qi Dezun said actually makes some sense, but the problem is that Hutchison had too much debt before, and the collateral may have been insufficient in value. If the major banks did not dare to press too hard, Hutchison would have gone bankrupt long ago.
Under such circumstances, if any bank wants to stay away from Hutchison, who would dare to throw money into the water again?
"Mr. Shen Bi, you know very well the current situation of Hutchison. As long as the land price in Hong Kong doubles, all problems will be solved. I believe that in another three years, the land price will definitely double. We need It’s just a sum of money to get through this period of time,” Qi Dezun said.
"Doubled in three years? Did Governor MacLehose tell you that?" Shen Bi said with a chuckle.
"This is my personal experience. I think there are many people who have the same judgment as me. It's just a matter of time." Qi Dezun said confidently: "I am willing to pay the highest interest for this loan from HSBC."
"I don't want to lose my principal just because I want to earn interest." Shen Bi shook his head firmly and said, "Even if the economic situation is a little better now, I will not take any more risks. Hutchison already owes HSBC HK$500 million, and I still owe HSBC 500 million Hong Kong dollars." Not to mention that you and Hutchison's many branches owe hundreds of millions, Qi Dezun, when I come to meet today, you should give me news about when I can repay the money." Shen Bi said.
It is widely rumored that Hutchison's debt is about HK$1.4-1.5 billion, but this is only the debt of "Hutchison". In fact, a large number of Hutchison's subsidiaries are also heavily in debt. The amount of debt of these huge subsidiaries is not at all It is lower than the parent company Hutchison, which is why many banks have headaches.
"Because HSBC also has so many debts, it should be more important to consider recovering these funds. If HSBC is willing to help, when one day Hutchison can repay the debt, I will definitely choose HSBC first." Qi Dezun said with a smile.
"What? If I don't borrow it, are you not going to pay it back?" Shen Bi said coldly.
"No, I didn't mean that. It's just that Hutchison has indeed reached an important moment now. With funds, we can get through it. This will be good for everyone." Qi Dezun shook his head and said.
"As long as any company has money, what problem can't be overcome? But every company has its own risk control. HSBC has HSBC's principles. The original Hutchison Bank did not have this risk control measure, which led to today's situation. Qi Dezun, you can ask other banks, or let the shareholders' meeting raise funds. I also hope that Hutchison can successfully get out of this situation." Shen Bi said calmly.
(End of chapter)
