141 The formal establishment of Hutchison Whampoa

Style: Romance Author: Underwater wild fishWords: 2821Update Time: 24/01/12 05:01:04
[The name of the One Fund in the previous chapter has been changed. I just found a convenient name and did not check the information. Because this is not a commercial layout, I thought it was not needed, so I don’t know the actual situation. Sorry! 】

After settling related matters at Galaxy Headquarters, Chen Zhiwen came to Hutchison Whampoa Headquarters again. It was not good that the two companies were in different places. He, the boss, sometimes had to run in both directions. When he had the financial resources in the future, he would build one. A super building is much more convenient.

When I arrived under the building, I saw several workers above the building replacing the sign on the roof. Although the merger of Hutchison and Whampoa Company has not been completely completed, there will be no problems. The company nameplate naturally needs to be replaced. .

Hutchison Whampoa in his previous life has finally come into his own hands. As for Li Jiacheng, he is now cooperating with Hutchison Whampoa on many real estate projects, cultivating new real estate talents for Hutchison Whampoa, and also solving Hutchison Whampoa's current problems. Regarding financial issues, he will also benefit a lot from this process, especially as real estate prices gradually rise. It can be said that everyone is making money together.

"Chairman, please." Chen Zhiwen and his party walked into their own elevator. Having their own building is very convenient in many places. For example, this independent elevator is guarded by dedicated personnel and only a few people can ride it. , it is impossible for outsiders to enter the core floor, and maintenance is also done best.

"Chairman." After the elevator door opened, Zhou Jiayang was already waiting at the door.

"You don't have to come to pick me up in the future." Chen Zhiwen waved his hand and said with a smile.

"It's okay, it's actually only a few steps away." Zhou Jiayang said with a smile.

It's really only a few steps away. The single-floor area of ​​Hutchison Building is not very large. Plus, this floor is full of large offices, so the external space is naturally not very large.

The air conditioner in the office had already been turned on. Before Chen Zhiwen arrived, the assistant informed Zhou Jiayang of his whereabouts. This was approved by Chen Zhiwen. As long as it was not a surprise inspection, it would be more convenient for his subordinates to be prepared to avoid wasting energy and time.

"How is the merger with Huangpu Group going?" Chen Zhiwen asked after sitting down.

"We have acquired 83% of the shares of Huangpu Group, which has also been delisted, with a total cost of HK$90 million. The company's registered name has also been changed from Hutchison to Hutchison Whampoa." Zhou Jia Yanghui reported.

Chen Zhiwen nodded and said, "Okay, I remember that Huangpu Group's debts are quite heavy, right?"

Hutchison Whampoa has finally been officially established, but there are still many problems at present. Although it is expected to increase cash flow through downsizing, in fact, the current real estate in Hong Kong is only showing a slight rebound trend, and there are only a few talents. Dare to be ambitious and courageous enough to make large-scale investments in the real estate market; the rest is a wait-and-see state.

Hutchison or Whampoa or other subsidiaries have many non-real estate businesses. These businesses are more difficult to sell. They are difficult to sell, or they can only be sold at cabbage prices. In addition, some of them are accompanied by previous high loans. If they are sold, If the price does not exceed the mortgage amount, you will lose money.

"Yes, there are more than 300 million Hong Kong dollars. Huangpu Group was originally financially independent, but now after the merger, it will be borne by us." Zhou Jiayang replied.

Chen Zhiwen thought for a while and said: "The Whampoa Group is also a well-known landowner in Hong Kong. It has a lot of land in Kowloon, Hung Hom, and Yuen Long. If possible, select some land and sell it or imitate the previous land owners Li Jiacheng and us. Through cooperation, and then using these funds to develop land in better locations, we must reduce our debt ratio in the shortest possible time.”

Hong Kong's real estate groups actually have rich assets, far exceeding their market value. However, they generally expand through debt, so the company's net assets do not seem to be much, and this is reflected in the market value.

For example, Li Jiacheng's Cheung Kong Holdings, although its market value is only HK$340 million, actually controls a lot of land and develops or develops many real estate projects with other consortiums. These add up to well over HK$1 billion, and the difference may be liabilities. However, if real estate appreciates in the future, for example, three times, then Cheung Kong's real estate projects will be worth 3 billion Hong Kong dollars. Although the debt also has interest, it is still far less than the increase in real estate. Therefore, by the early 1980s, no Chinese-owned assets grew exponentially, and they began to have the capital to challenge British capital.

The reason why British capital pulled away was because of conservative operations and desperate efforts to reduce debt. The Swire Group held a large amount of high-quality land on Hong Kong Island, but it turned to Chinese capital to develop real estate. As a result, it lost a lot of profits and gave them to Chinese capital. Of course, , and another reason is that British capital is unable to develop real estate.

The situation of Huangpu Group is somewhat special. Hutchison Group during Qi Dezun's era was in the midst of crazy expansion, and the capital for the crazy expansion was naturally crazy loans. Therefore, Huangpu Group also held a large amount of debt.

Theoretically speaking, if you know that real estate will triple in the future, you can easily solve the problems of Whampoa and even Hutchison Whampoa by waiting for appreciation. However, this will only get the most basic benefits of the real estate market. If you want to get more , you have to fight your way in. Therefore, the first thing to do now is to divest marginal assets, cash out funds to activate high-quality assets, and then develop Huangpu Group's unique and huge land.

"You still want to cooperate with Li Jiacheng? Will this give him too many benefits?" Zhou Jiayang asked.

"Who are you looking for among the others? Not everyone has Li Jiacheng's banking resources, and not everyone is so confident in the real estate market. Since he dares to play like this and has the ability, shouldn't it be a good idea to make money?" Chen Zhiwen said .

After starting to cooperate with Li Jiacheng, Chen Zhiwen arranged for people to investigate the banking resources behind Li Jiacheng, and later learned that it was the Imperial Bank of Canada. From the name, you can tell that this bank has a high status in Canada. After checking, it was found that it is a large bank with total assets of more than 20 billion US dollars, and its scale is still larger than that of Hong Kong's local overlord HSBC.

As for how Li Jiacheng got into this position, it is impossible to find out. As early as 1974, when Cheung Kong Holdings was listed in Canada, the Canadian Imperial Bank was the underwriter, and he may have known each other before.

With such a big bank behind him, coupled with Li Jiacheng's vision and current scale, it is difficult not to rise. In the original history, he established a good relationship with HSBC in another two years. It can be said that he made full use of resources. To the extreme.

"Yes, it has only been less than two months. More than a dozen projects that were previously suspended by Hutchison are already under construction and are expected to be completed next year. It is also a good thing for us to cooperate with him." Zhou Jiayang He nodded and said.

"How about learning about real estate development?" Chen Zhiwen asked.

"They were very guarded against us. When our people went there, they only acted as helpers. Many meetings were not held together at all." Zhou Jiayang said.

"It's normal, and if it's so easy to learn, the British capital in Hong Kong won't be such a waste." Chen Zhiwen shook his head and said: "It's within my expectation. Then we can only implement plan B, poaching people from Cheung Kong Industries , especially those who are proficient in real estate development, real estate market sales, and real estate cost control, I want as many as I want."

"Okay, then do you want to dig some from other Chinese companies?" Zhou Jiayang asked.

"It's okay, everyone with experience and ability is required." Chen Zhiwen nodded and said: "Next year, many Hutchison Whampoa projects need to be started independently, not just our own. When the debt is better, we may also have to buy them from other companies or the Hong Kong government. land for development.”

"I understand." Zhou Jiayang looked excited after hearing this. Hong Kong's real estate companies compete for land reserves. The more reserves, the stronger the strength. For example, Land's acquisition of Dairy Farm International was actually for the Dairy Farm's development in Causeway Bay. Lots of land. If Hutchison Whampoa only knows how to develop its own land, it will be a waste of money. Now because of the debt crisis, it has no choice but to reluctantly cooperate with Li Jiacheng to develop its own land. When the economic situation improves in the future, it will be wise to develop other land.

"Look at Swire, this is a big landowner." Chen Zhiwen said with a smile. In the 1970s and 1980s, Swire released a large amount of high-quality land and enriched a lot of Chinese capital. Regardless of whether he successfully acquired Hutchison, he would definitely They will find ways to win a few pieces of land, and now that we have the platform of Hutchison Whampoa, we can naturally win more.

"Sheng Chen, speaking of Swire, we wanted to purchase the land in Admiralty to build Galaxy's headquarters. After HSBC agreed to help, we entered into normal negotiations with Swire. I heard that Land Group also participated. , they are also negotiating with Taikoo." Zhou Jiayang said.

"Land? That's troublesome." Chen Zhiwen said with a frown. Now Land is definitely the largest in Hong Kong. The total assets of its properties exceed tens of millions of square feet. However, the main ones are Central Buildings, and the smaller ones are smaller. It is also a prime location in other commercial districts. In Hong Kong, no company’s property reserves can exceed Land Land. It was not until 1979 that this record was broken by Cheung Kong Holdings. However, at that time, Cheung Kong Holdings’ properties and land were all In ordinary towns, there is not even a single building in Central.

“However, I suspect that this is a rumor deliberately spread by Swire to put some pressure on us, because according to the information I have received, Land’s main focus during this period is still on developing the land held by Dairy Milk International, and it should not be used again. Interested in other land." Zhou Jiayang analyzed.

(End of chapter)