The birth of the Hong Kong Island family

Lin Zhichao came to the Shangri-La Hotel in Central to have afternoon tea with President Jason and Vice President Lin Xiner, and actually listened to some work reports.

"Shangri-La Hotel has been open for ten months. During this period, affected by the oil crisis, the occupancy rate was only 81.5%." Lin Xiner reported to her brother in English seriously.

After hearing this, Lin Zhichao didn't have much reaction to the 81.5% occupancy rate. He asked instead: "What is the situation of our competitors Mandarin Hotel, Hilton Hotel, and Furama Hotel?"

The impact of the oil crisis will definitely have an impact on luxury hotels. There are four five-star hotels in Central, and the Shangri-La Hotel is the most luxurious five-star hotel with more rooms.

The occupancy rate is 81.5%, and the profit is still considerable, but the return rate should only be 6 to 7%. In Hong Kong's hotel industry, a return rate of 9 to 10% is an excellent level.

Lin Xin'er said: "The occupancy rate should not be as good as ours. The Furama Hotel is of the lowest quality and attracts guests at low prices. The Hilton Hotel has the greatest impact. It is said that the Hyatt Hotel in Indonesia suffered heavy losses from the Mega Hotel. The Mandarin Hotel is slightly better. "

After listening to this, Lin Zhichao's mind immediately became active. The parent company behind Hilton Hotel (Hong Kong), Megacorp, has always been a company that Lin Zhichao longed to win. Because the Hilton Hotel, owned by Mego, has a land that Lin Zhichao likes, this is related to the feng shui issue of the Lin family.

At this time, Jason sighed: "It seems that it is difficult to make a profit when investing in hotels in Southeast Asia. For example, in Singapore and Hong Kong, even during the oil crisis, the hotel industry is still profitable; but not in Southeast Asia, even in tourist attractions. "

Last year, he also wanted to expand Shangri-La Hotels in Southeast Asia, which now seems very risky. The impact of the oil crisis was not the half-year period at that time, but a long cycle. Now, in the past year, the global economy has fallen into a state of stagflation, and Southeast Asia is not optimistic.

Lin Zhichao said: "The Shangri-La Hotel is positioned as a five-star luxury hotel, so it is not suitable for Southeast Asia. Moreover, Southeast Asia has unstable political regimes and various unstable factors, making it unsuitable to invest in an industry with slow returns such as hotels."

Suitable for what?

Of course it's real estate, make a big deal and go!

There is also a wave of real estate boom in Southeast Asia, and the best investment targets are of course Thailand and Malaysia.

After chatting for a while about the work of Shangri-La Hotel, Lin Zhichao did not propose any goals or beneficial measures. This is because: first, the Shangri-La Hotel operates in Hong Kong and Singapore, which is very well positioned. It will not lose money, but will make a lot of money; second, the Shangri-La Hotel is positioned as the "family store" of the Lin family and is not eager to enter. Lin Zhichao hopes to develop gradually.

What's more, Shangri-La Hotel is currently the best-performing hotel among the four hotels in Central, and he is very satisfied with this result. Overall, the Shangri-La Hotel is very well run.

In the office of Cheung Kong Holdings, Lin Zhichao entertained Li Yeguang in the office.

"I heard that the Changshi Group joined forces with the Canadian Imperial Bank of Commerce to acquire the Saixi Lake land. It seems that the Changshi Group has very sufficient funds. Now facing the market environment, the Changshi Group is like holding a machine gun and is invincible! "Li Yeguang joked with a smile.

Lin Zhichao was not modest and said directly: "What Lawyer Li said is not wrong at all. He even underestimated our Changshi Group. We are not holding machine guns, but driving tanks. Haha!"

He's not bragging, it's true.

Last year alone, Cheung Kong Group set aside a cash flow of HK$200 million. Its debt was only HK$50-60 million, and its asset value was more than HK$3 billion. It is not an exaggeration to say that the debt ratio is extremely low. Not to mention Lin Zhichao's relationship with major banks, Lin Zhichao's private investment company - Victoria Harbor Investment can lend money to Cheung Kong Group at any time.

There are funds but no investment channels. This is the situation of Cheung Kong Group.

Although there have been land acquisitions and land rights exchanges, these small projects are only a small amount of money and not enough to survive. In addition, Lin Zhichao is more eager to make big projects and big investments, so he is not very careful about small sites.

Li Yeguang immediately said: "Cheung Kong Group is better than Land, which is the pride of us Chinese."

Lin Zhichao said modestly this time: "You're flattering me! Real estate seemed to be my goal in the 1950s. After the mid-1960s, I no longer seemed to regard it as a goal."

This is called humility, Li Yeguang said in his heart.

But he knew it was entirely true. You must know that this person still has many assets that have not been listed. Only the famous assets include: Victoria Harbor Center, Far East Financial Center, Shangri-La Hotel, etc.

Absolutely top-notch vision!

Next, Li Yeguang started talking about business: "I know that Changshi Group has sufficient funds, so I will introduce a project this time. Wasion Development, Lin Sheng must have heard of it, right?"

Lin Zhichao became interested and said: "I know. Isn't Li Sheng the chairman of the board of directors of this company? How could I not know?"

When this company was listed, the chairman of the board of directors was Li Yeguang, but he was not the actual controller. This is the strategy of some entrepreneurs to recruit well-known figures as chairman to increase the prestige of the company. For example, the chairman of the board of directors of New World Development is He Shanheng, a bank tycoon.

As for Wasion Development, it raised more than 20 million Hong Kong dollars when it went public. It should be a listed company with net assets of over 100 million.

Li Yeguang couldn't help but admire Lin Zhichao's mind. He seemed to have all the information about enterprises in Hong Kong in his mind, and he seemed to be very familiar with the property sites in Hong Kong.

It is hard to imagine that he is not only a real estate developer, but also a world shipping king and industrial tycoon.

"If Mr. Lin is interested in this company, our board of directors is willing to sell it, but there is one condition, and that is a full acquisition!"

Lin Zhichao didn't think much before he said, "No problem! With both real estate and the stock market currently in a slump, this is a very cost-effective business."

He said it very straightforwardly!

Likewise, it didn't matter if anyone heard him.

The controllers of these companies were frightened by the stock market crash and the oil crisis, or the companies had financial problems, and they didn't know what the future would hold, so selling was a normal behavior.

Moreover, the magnitude of this round of decline is only 20~30%, which is completely negligible compared to the previous increase. Therefore, some property owners took the opportunity to cash out and avoid further devaluation of their assets.

"Okay, I will bring the information to you later, and then you can give us a reasonable quotation, and the board of directors will consider whether it is suitable!"

"Well, it makes sense. I hope to acquire other people's businesses in good faith!"

This is a friendly acquisition. The major shareholder intends to sell, and the acquiring company is willing to pay a premium. In the end, both parties reach an agreement.

This year, it was British-owned foreign companies that took the lead in launching a friendly takeover war.

In mid-January, Swire \u0026 Investment took the lead in issuing 2.8 million new shares in exchange for 10.5 million shares of Taikoo Chang Development, a subsidiary of Dah Chong Properties. The shares were then transferred to Swire Properties, which in turn issued 12.1 million new shares to Swire Properties in exchange for Taikoo Chang held a 50.0% stake in the first phase of the Taikoo Dockyard development plan (later Taikoo Shing). As for Taikoo Chang, it transferred the land in the eastern part of Aldrich Bay to Swire \u0026 Co. Ltd. at a low price. Through this game of allotment, share exchange and issuance of new shares, the equity of small shareholders is naturally "diluted", while the strength of the company quickly grows.

At the same time, it also fully reflects Swire Pacific’s lack of confidence in real estate, and it shared the first phase of the Taikoo Shing project with Dachang Real Estate (Tian Tak Tai).

Saturday, April 12th.

On the sea surface of "Aberdeen" in Hong Kong Island, there is a lot of excitement and the noise is loud.

It turns out that today is the opening day of the ‘Jumbo Seafood Restaurant’ under the ‘Café Restaurant Group’.

After a fire broke out in the original Jumbo Seafood Restaurant in October 1971, Café de Coral Restaurant Group immediately acquired Wanglaoji’s ‘Taibai Seafood Restaurant’ and created the ‘Jumbo Seafood Restaurant’ brand name. Starting in 1972, it invested HKD 25 million to build a brand new ‘Jumbo Seafood Restaurant’, which took more than three years.

The Taibai Seafood Restaurant, which opened in the 1950s, is 50 meters long and can accommodate 800 people for dining.

The brand-new ‘Jumbo Seafood Restaurant’ is 80 meters long, 22 meters wide and 28 meters high. It has a displacement of 3,500 tons and can accommodate more than 2,000 guests at the same time.

The 'Jewel Seafood Boat' is like a gorgeous palace on the sea. Two golden dragon wooden sculptures stand at the entrance of the seafood boat, and nine small golden faucets will spit out water jets at the same time. The traditional Chinese handicraft decorations and murals in the ship alone cost more than 5 million Hong Kong dollars. The giant mural on the second floor of the boat, "Returning in Eternal Clothing and Honor", was inspired by the famous Ming Dynasty painting "Enter the Foot" by Italian artist Boboia, and was handmade with mosaic inlay technology. There is a "Jinluan Hall" in the boat - the dragon chair in the Jinluan Temple. When the seafood boat is open, there is also a dragon robe rental service. Each hall and room on the ship is named after the palace resort, including Dragon Tower, Feng Pavilion, Jinluan Palace, Taihe Palace, etc. Moreover, each floor is equipped with the Emperor's Dragon Throne accompanied by the East and West Palaces. While enjoying the delicious food, guests can sit on the throne and take photos, which is really unique.

On the opening day, Lin Zhichao also participated in this very meaningful moment, not to mention that Cheung Kong Group is also the major shareholder of Café de Coral.

Of course, the owner on the opening day was his cousin Lin Zhihao, the chairman of the board of directors of Café de Coral.

The guests who came to participate could not help but sigh in their hearts. Anyone who is appreciated by Lin Zhichao can become a rich man. Lin Zhichao is not only very good to his relatives, but also takes good care of his friends. Yu Chengwan is the best proof.

Lin Zhihao stood next to the microphone and delivered the first big speech in his life. Because of his cousin, Hong Kong celebrities and upper-class people gathered today. He even received a notice that when the Queen visits Hong Kong, she will also board the Jumbo Seafood Boat and must do a good job of welcoming her.

"Dear guests, Jumbo Seafood Restaurant has become a representative attraction and culture of Hong Kong, the 'Pearl of the Orient', and it has also inherited the essence of Hong Kong cuisine. Here, I am very grateful to everyone for visiting tonight. Please enjoy it. A fusion of food and culture.”

Thunderous applause!

As the opening ceremony ended, everyone returned to their seats. Jumbo Seafood Restaurant has three floors in total. The first floor is the main hall, which can accommodate hundreds of tables without looking crowded. It is a good choice for wedding venues. The second and third floors have booths and private rooms, and there is also a seafood pool on the boat.

On the third floor of the Jumbo Seafood Restaurant, Lin Zhichao and his friends were sitting together and chatting and laughing. Among those who came to enjoy the show were Blimp Tai, Zheng Yutong, He Shanheng, and almost Hong Kong's richest people.

"Everyone, this is an era when Hong Kong's economy is booming and it has become one of the 'Four Asian Tigers'. Hong Kong has often given people a joyous scene in these years. This scene tonight is undoubtedly the best proof." Lin Zhichao raised his glass. road.

Everyone agreed, thinking about it carefully, this is really the case.

He Shanheng said with a smile: "Hong Kong's economy is booming and it is also the best time to make money. Don't miss this era and live up to it."

Lin Zhichao followed He Shanheng's words and said: "Brother Shan is right. So, we have to roll up our sleeves and get started!"

Everyone laughed.

At this time, a trace of loneliness flashed in Tai's eyes. Since 1967, his career has been at a low ebb, and there have been very few real estate projects in recent years. He originally wanted to list the company in 1973, but the stock market crash happened and he had no choice but to give up.

Of course, this emotion was quickly submerged in the joy, and everyone was laughing and having a great time.

During this period, Lin Zhihao came to propose a toast, and everyone was very polite and did not neglect him at all. Not to mention that he is Lin Zhichao's cousin, even if he is the chairman of the board of directors of a listed company, he deserves to be polite.

However, some people believe that the reason why Café de Coral Restaurant Group was able to go public was solely because of Lin Zhichao’s support. Without the introduction of banks and guaranteed loans by Lin Zhichao, it would have been impossible to acquire Taibai Seafood Restaurant and Zhenbao Seafood Restaurant (signature brands). Then there were only a dozen or twenty fast food restaurants at that time, and they would not have been qualified to be listed on the market.

During this period, Lin Zhihao toasted to the gambling saint.

"Xiao Linsheng, you now have Taibai Seafood Restaurant and Jumbo Seafood in your hands. You are simply dominating the waters of Aberdeen. You should be known as the 'King of Small Boats'!" Let's not talk about the gambling sage's personality, but he is definitely very interesting.

Lin Zhihao immediately said humbly: "He Sheng is too generous. Don't you still have your 'Cape Palace' on the sea in Aberdeen? How dare I claim to be the king and hegemony!"

Haijiao Palace is a gourmet restaurant of the same era as Taibai Seafood Restaurant. In 1958, the two-story Cape Palace was added to the operation near Taibai. Due to the booming business, another three-story boat was soon added. In 1962, Gambling Saint acquired the Cape Palace and moved the double-decker ship to Omen as a gambling ship, leaving the new three-decker ship to continue to compete with Taibai.

In fact, the current food restaurants on the seaside in Aberdeen are three pillars - Taibai Seafood Restaurant, Cape Palace, and Jumbo Seafood Restaurant.

Taibai Seafood Restaurant has the longest history and the most stories; Zhenbao Seafood Restaurant is the largest and most luxurious seafood restaurant, and of course the newest seafood restaurant.

As for the Cape Palace, its status is now a little embarrassing!

The Gambler smiled and said, "I can't compete with you, a catering tycoon!"

Lin Zhichao was across the table and said with a smile: "Then just join in!"

The implication is that if we sell it to Café de Coral, we won’t have to compete.

Everyone laughed and said nothing. There was nothing wrong with this proposal. The Cape Palace was in an embarrassing situation, so it was better to join the same camp.

Seeing this, Gambling Saint smiled and said, "I don't care. If Xiao Linsheng is interested, you can come to me to negotiate!"

Seeing that the opportunity was rare, Lin Zhihao immediately said: "Then don't bother He Sheng!"

Afterwards, everyone continued to play music and dance.

The small scene just now also proves one thing. Café de Coral Catering Group is already the largest catering group in Hong Kong. It owns high-end restaurants - seafood restaurants, Cantonese restaurants, and fast food chains. More importantly, Café de Coral Catering Group is a listed company, and there are only two or three listed catering companies in Hong Kong.

That night, Lin Zhichao sat in the antique Jumbo Seafood Restaurant, enjoying delicious food and spending time with friends. It was very interesting.

The seafood at Jumbo Seafood Restaurant cannot be said to be top-notch, but it can only be said to be of high quality. The most important thing is that it is fresh. Lobster, grouper, prawns, abalone, etc. are all cooked using Cantonese-style seafood methods, making them delicious.

In the office of Cheung Kong Industrial Group, Lin Zhichao looked at the detailed information on Wasion Development, as well as the proposed acquisition price and other information.

The current stock price of Wasion Development is HK$1.01 per share, and the proposed acquisition price is HK$1.4 per share, a premium of 37.2%; its total share capital is 80.2 million shares, and the acquisition price is HK$112 million.

This purchase price represents an increase of about 25% from the market value of Wasion Development's listing of HK$90 million.

In fact, it is quite a bargain, because Wasion Development purchased new assets after going public to raise funds. As long as there are no problems with the real estate company itself, even if it is at its lowest point, it will not fall to the market value when it was listed. This is because the market value of companies such as Cheung Kong Holdings, Sun Hung Kai, New World, and CK Hutchison Properties has increased by more than five times after listing.

The current net assets of Wasion Development are probably more than 120 million Hong Kong dollars. Cheung Kong Group bought this asset at a very cost-effective price. Most of these assets are rental properties, and a small part are sites and land. After the acquisition, the Cheung Kong Group has been further expanded.

In the first half of this year, we won the Wasion Development and Saixi Lake sites, as well as some land and land exchange rights and interests, which is considered a very good development.