Affected by the sharp rise in Peregrine's stock price, the Hang Seng Index closed at 9637.5 points, up 139.8 points or 1.47% for the whole day.
In three days, the Hang Seng Index rose by 682.9 points, a surge of 7.68%!
Sun Jian saw the results immediately and smiled bitterly in his heart. Could it be that he could change the trend of the Hang Seng Index by himself?
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"The company punished Mr. Du William, the former chairman of the company, and Mr. Li Shizhen, the former general manager of the fixed-rate bond company, who were primarily responsible for the Indonesian Rubber Company's loan debt of US$260 million. Mr. Du William offered 5 million shares of Peregrine Stock compensation company, downgraded from company chairman to company president.”
"Mr. Li Shizhen, the general manager of the fixed-rate bond company, gave out 500,000 shares of Peregrine stock to compensate the company, demoted him to deputy general manager, canceled his directorship, and was specifically responsible for the recovery of this bad debt."
"Mr. Huang Yongcan, the executive director of Fortune who was indirectly responsible, gave out 100,000 shares of Peregrine stock to compensate the company, removed his position as financial general manager, and became the first president of Peregrine Bank."
"Mr. Wu Wenjian, the general manager and director of the risk and credit management department who was indirectly responsible, took out 100,000 Peregrine shares to compensate the company and was demoted to deputy general manager."
On January 15, Chairman Sun Jian presided over the Peregrine Board of Directors and announced the decision of the Board of Directors. The identity of the legal person and controlling shareholder saved Peregrine from fire and water. When Peregrine’s reputation was at its peak, he kept his word and punished those responsible. , clean up old accounts, travel lightly, guide the direction, and get out early.
It is impossible for Sun Jian to stay in Hong Kong for a long time and work for Peregrine. Although he is the controlling shareholder of Peregrine, his investment in Peregrine is only a small part of the huge business.
According to Hong Kong's "Company Ordinance", if a company's senior management personnel violates their responsibilities or commits fraud, causing significant property losses to the company, if the company takes them to court, they will not only have to bear economic losses, but may also be banned from entering the financial industry for the longest time. After 15 years in the industry, you may still go to jail and lose your reputation.
Sun Jian gave them a chance.
Put an end to the mess left by Peregrine's predecessor. This is the power of the controlling shareholder, and there is no need to win the support of other shareholders.
In order to save costs, Peregrine laid off 15% of its employees at one time at the end of November last year. Now that Peregrine Bank is established, it does not intend to recruit from the public, but directly from the existing management and ordinary employees.
Among Peregrine’s current employees, 80% are graduates of finance majors. There are a lot of master’s and doctorate students studying in Europe and the United States, and there is a large number of talents. Before the salary reduction, they generally received an annual salary of 300,000 Hong Kong dollars, which is about 6 or 7 times more expensive than the same talents in the mainland!
[In view of the general environment,
The financial crisis in Southeast Asia is getting worse and worse, and its impact is getting wider and wider. Nowadays, layoffs and salary reductions are common in companies of all sizes in Hong Kong. Employees are worried about being laid off by their bosses at any time and dare not ask for leave at will.
Peregrine also has a risk and credit management department, but due to the struggle for power between William Du and Liang Zhongtao, the company was divided into two factions. General Manager Wu Wenjian who did not choose to take sides was at a loss and failed to fulfill his responsibilities, which is also a dereliction of duty! Du William is arbitrary, and the fixed-rate bond company led by General Manager Li Shizhen is backed by Du William. The risk control system is a mere formality. Everyone gets a commission if the investment makes money, but there is no penalty for losses. A bridge loan of US$260 million is overdue. , Peregrine was destroyed in the previous life!
We call on Peregrine’s management and ordinary employees to live a hard life for two years. The salary standards for management and ordinary employees will be based on the standards after the salary reduction, and will be determined after the Asian financial crisis is over. In order to reduce the company’s expenses, in these two years, Sun Jian and Vice Chairman Wang Dongming received a symbolic annual salary of HK$1 from Peregrine.
The Indonesian Rubber Company, with a registered capital of US$60 million, is a company owned by the eldest daughter of the current president of Indonesia. In order to enter the Indonesian financial market, Li Shizhen and Du William had a big backer and illegally lent each other US$260 million in the form of a bridge loan. .
Due to the sudden decoupling of the Indonesian rupiah from the U.S. dollar, Peregrine was responsible for the Indonesian Rubber Company's issuance of US$260 million in US dollar bonds to international investors and failed. It also tried to issue US$260 million in promissory notes to Indonesian commercial banks and also failed to issue company stocks.
It is also far away because the Indonesian stock market has plummeted.
Due to the sharp depreciation of the Indonesian rupiah, the Indonesian Rubber Company was unable to repay the US$260 million bridge loan before the repayment deadline. Peregrine's assets suddenly deteriorated, which became an important reason for being abandoned by the Zurich Group of Switzerland and the First National Bank of Chicago in its previous life.
Keith Wood (an Indian), the head of Peregrine’s investment strategy department and global chief strategist who made mistakes in predicting trends, was demoted to deputy minister, disqualified as the global chief strategist, and appointed Huang Desheng (Singaporean) as minister and global chief strategist. Chief Strategist.
Huang Desheng, 40, graduated from the Wharton School with a master's degree in finance. He worked at Goldman Sachs Group for three years and was hired by Peregrine as deputy director of the investment strategy department and senior analyst.
Huang Desheng predicted that the currencies of Southeast Asian countries would compete to depreciate, causing the stock index to fall. The Hong Kong dollar and Hang Seng Index also faced declines. The investment analysis report he wrote "Southeast Asian Economy and Overvalued Currency under False Prosperity" fully confirmed the trend of things, but at the time there was no This aroused the vigilance of Keith Wood, William Du and Liang Zhongtao. Keith Wood and William Du were optimistic that the Asian financial crisis that originated in Thailand would end soon and Indonesia would have the fastest economic recovery.
After Sun Jian read this investment analysis report and talked with Huang Desheng, he suspected that the other person was also a time traveler.
Huang Desheng predicted that the Hang Seng Index would not reverse because he saved Peregrine, but would continue to fall. The Hang Seng Index rose from more than 2,000 points to more than 16,800 points, an increase of nearly 7 times, and fell below 9,000 points. According to K-line theory and symmetry principle, the maximum drop is still 3,000 points! The Asian financial crisis can only be resolved by the joint action of China and the Group of 7. It is recommended that companies continue to liquidate their holdings of Southeast Asian fixed-rate bonds and self-operated stocks, hold cash, and wait for investment opportunities.
Sun Jian dared to make money in the stock index futures market based on his memories from his previous life. Huang Desheng relied on collected data, solid theoretical foundation and rich practical experience to make correct judgments. This is the real investment talent!
Sun Jian had not read Huang Desheng's investment analysis report on the Internet in his previous life, and he might have been thrown into the wastebasket by Du William and others.
Reborn people often warn themselves not to underestimate the world!
If the investment trend prediction is wrong, no matter how hard you try, it will be in vain!
Sun Jian instructed Huang Desheng to write a complete investment analysis report for him every week in the name of the Peregrine Investment Strategy Department.
"Dear directors, the Asian economic crisis is not over yet. I can prevent Peregrine from being forced to liquidate, but I cannot change the status quo of Peregrine's huge losses in its 1997 annual report, nor can I change the weakening trend of the Hang Seng Index, nor can I change the Asian financial Crisis trend!"
