The Industrial Giant Reborn

"Mr. Ma Ben, please think carefully about my suggestion." Inside the Wheelock Building, Diss politely said to an Englishman wearing golden glasses in front of him.

This person is the current head of the Wheelock Group, John Maseng. Wheelock Group, like Jardine and Swire, is a family-owned enterprise. For a long time, the entire Wheelock has been managed by the Maseng family.

John Maseng thought for a moment, then looked at Diss meaningfully, and said, "Mr. Diess, HSBC should not want me to sell Defeng to Jardine, right?"

"I can tell the truth, there is such a situation, but what I just said is also true." Diess said neither humble nor overbearing: "Wheelock competes with Jardine in many aspects, if you share all the internal materials of Wheelock It is all handed over to Jardine. If they continue to purchase, it is naturally not a problem, but if they do not purchase due to price or other reasons, then these materials will cause Wheelock to lose hundreds of millions of funds. Mr. Ma Seng is also a leader in the business world. , I think you understand the possibilities here better than me."

"What you said makes sense. I really need to think about it again." John Maseng nodded and said, "I will discuss this issue with Niu Bijian, and besides Jardine, there are also other Chinese and Southeast Asian companies. Consortium."

As an investment company that makes money by promoting transactions, Huodoli actually wants to stop this transaction. John Ma can naturally see the problem, but he can see it, but this is a conspiracy, and he is really unlikely. Before the acquisition, the information of Defeng Company will be handed over, but if it is not handed over, no matter how courageous Jardine is, it will not dare to buy it directly, otherwise Jardine will be killed by a pit, and it seems to be in an endless loop.

"Most of the Chinese capital in Hong Kong is not strong enough. As for the consortiums in Southeast Asia, they don't know much about Hong Kong. It may take a long time to cooperate with them." Diss said with a smile.

If Wheelock is sold to a Southeast Asian consortium, HSBC can barely accept it.

"Not even Chen Zhiwen? Or Bao Yugang? Are they strong enough?" John Ma said with a frown.

"Bao Yugang has not expressed his position on Wheelock, and there are many overlaps between Wheelock's business and Global International, are you willing to hand over all the information of Wheelock Shipping?" Diess said: "As for Chen Zhiwen, we We have also communicated with him that he will not acquire Wheelock, but he is interested in some of Wheelock’s assets.”

"Which assets?" John Stable asked.

Diess said: "The two buildings of the Federation and the International."

"What?" John Ma was stunned for a moment, and then said: "He wants to sit back and enjoy the benefits, and wants to buy the best assets of my Wheelock?"

Wheelock, founded more than 100 years ago, developed in Shanghai in the early stage, and later came to Hong Kong for various reasons. Defeng still acquired three buildings in Central in Hong Kong.

They are Federal Building, International Building and Wheelock Building. Among them, Wheelock Building is the headquarters of the group, and Federal Building and International Building are investments. They have been leased to many trading and legal companies for a profit.

"Isn't Wheelock's most high-quality asset still the countless freighters?" Diss said with a smile.

"Freighters are naturally the same, but this does not mean that the Federation and International Building can be disposed of at will." John Ma Ben nodded and said, although the oil crisis occurred a few years ago, the operating cost of freighters has risen sharply, but the demand for sea transportation has been rising, and the freight rate has risen. Even more powerful, when exaggerating, a freighter made a trip to the United States, earning a net profit of 3 million US dollars, and the cost can be recovered in a little over a year.

This is much more profitable than collecting rents in Central. Otherwise, the Jardine Group would not want to exchange this building with the shipping tycoon Bao Yugang for a supertanker after the completion of the Kangle Building.

"That's still a matter of price. If the price is really right, would Mr. Ma Deng consider selling it?" Diss said with a smile: "With the current income from shipping, if these two buildings are sold and then the freighter is purchased, three years will be enough time." The income has doubled."

"Mr. Diess really knows how to do business. Going around, I need to get a loan from HSBC to buy a freighter again?" John Ma said with some self-mockery.

"I do have my purpose, but I'm telling the truth." Diss nodded and said.

The direct income of Dolly is the intermediary fee for promoting investment and acquisition, while the indirect means is to negotiate between the acquirer and the seller, and then let them conduct transactions and borrow money at HSBC.

For example, this time, if Chen Zhiwen can really buy the two buildings of Wheelock, he will definitely only contribute a small part of the funds, and the rest will be financed by HSBC. In the same way, Wheelock is the same. The shipping industry is swallowing money. Big family, the cost of a freighter or oil tanker is as high as tens of millions of dollars. Shipping companies borrow money to buy ships first, and then operate to repay the loans. Otherwise, Hong Kong would not have so many shipping kings. Shipping companies are more difficult to start than real estate.

But the difference is that in Hong Kong’s real estate business, most of the capital flow and financing go through HSBC, while the shipping business is not necessarily the case, especially Japanese banks, which like to snatch such customers very much.

"It's true, but let's wait until Wheelock is sure that it won't be sold, or if I sell Wheelock, you can discuss it with the buyer." John Ma said with a light smile.

The development of shipping is indeed his future direction. Even if Wheelock is sold, he can use the funds to build a new shipping company, or to develop in other countries. If he continues to control Wheelock, then what Diess said That's right.

Although real estate can also make money, for him, this kind of real estate in Hong Kong is too unstable, so he might as well sell it. He is very optimistic about the future of shipping. As long as the funds are invested, it will definitely pay back in three years. The rest are lying and earning.

"Okay, then I will visit again next week, hoping to get good news from you." Diss nodded and said.

On November 1, Hutchison Building:

"Dong dong dong" there was a knock on the door outside the office, and Chen Zhiwen said, "Please come in."

The door opened, and a middle-aged man in his 30s came in. He came to Chen Zhiwen's desk and said, "Sheng Chen, the 250 million Hong Kong dollars specially approved by HSBC have been transferred to Watson's account."

"Oh, it's pretty fast." Chen Zhiwen smiled and said, "Come on, Old Wu, sit down."

The person in front of him, named Wu Weibing, is one of the talents proficient in the management of Hong Kong's local retail industry that Chen Zhiwen commissioned a headhunting company to poach. He is currently in charge of the entire operation of Watsons.

"That's because Mr. Chen came forward in person. Otherwise, HSBC would not be so straightforward." Wu Weibing said with a smile.

"After buying enough properties with this money, let's use these properties as collateral." Chen Zhiwen nodded and said, "Besides, the low-interest loan from HSBC is not free."

This emergency loan from HSBC is obviously meant to make Chen Zhiwen and Jardine Mathematics use it, but Chen Zhiwen doesn't care, the more low-interest loans, the better, even if it is not low-interest, in the current stage of rapid rise in Hong Kong's real estate market , High interest rates are not a problem, as long as the amount of funds is sufficient.

Moreover, ParknShop can be regarded as one of the core businesses of Hutchison Future. The Hong Kong headquarters must be won, and there is no harm in winning the money.

"Okay." Wu Weibing said: "Chen Sheng, considering that we don't need to advance funds for many materials, now that we have such a large amount of funds, I plan to speed up the purchase of properties in various suitable places in Hong Kong. With properties, we It has an absolute advantage."

"Okay, it's best to keep all properties by yourself, but if you come across a very good location and the other party is unwilling to buy it, then you can rent it." Chen Zhiwen nodded and said.

Baijia Supermarket has a great advantage, that is, it can take advantage of the huge procurement chain of Galaxy Trading. Because of the long-term purchase of Galaxy Trading, many suppliers have formed a very stable and good cooperative relationship. Baijia Supermarket communicates with them Finally, these suppliers are happy to deliver the goods directly to the shelves of Baijia Supermarket, which can reduce the capital occupation of materials in the new supermarket during the initial expansion.

As for Wellcome Supermarket, even with Landmark behind it, it is impossible for so many goods suppliers to pay all the advances. This is a gap-like advantage.

"Okay, but I still think that we can find nearby properties for acquisition. In the long run, it is safer to own our own properties. At the same time, the property itself is also an intangible asset as housing prices rise. It can also be used So as to obtain financing from the bank as a mortgage,” Wu Weibing said.

"Yes, you can collect this kind of properties first, and then report the information to me. As long as there are no major problems, I will agree." Chen Zhiwen nodded and said.

At present, the real estate market in Hong Kong is at the starting point of preparations for skyrocketing. Acquiring properties is a blood profit. If you can also monopolize Hong Kong's retail sector by the way, it will be perfect. At the same time, it is also very good to combat the arrogance of Landmark.

Time flies, and half a month will soon pass.

Hong Kong, Connaught Building:

Bao Fuda came to Niubijian's office in a dull manner, and said: "Mr. Niubijian, Hutchison's ParknShop supermarket, these days are simply crazy. As far as I know, they have acquired at least more than 20 properties for use. Open a supermarket, I don’t know, I guess there may be more, and many of them are still near our supermarket, which is very unusual.”

"Near us? Is Chen Zhiwen ready for a price war?" Niu Bijian frowned slightly.

Although the talks with Chen Zhiwen collapsed before, both sides started to buy or rent suitable shops in Hong Kong, but everyone avoided each other. It was not that one was afraid of the other, but that the market was huge, and there was no need to compete for it. At the same time, Everyone also avoids the supermarkets that the other party has opened, because the biggest result of the two supermarkets being together is that neither of them can make money.

But now, Hutchison is actually choosing to open a new store or buy properties near the Wellcome supermarket it has already built or the supermarket it is planning to open. It is clear that it is preparing to fight a price war in the future.

"It should mean that. He did this probably to show his determination and want us to retreat in spite of difficulties." Bao Fuda analyzed.

"Hmph, if we quit like this, we won't be ridiculed by our colleagues in Hong Kong." Niu Bijian said disdainfully: "I will transfer another 50 million Hong Kong dollars to you. I don't believe how much money Chen Zhiwen can invest in."

"Jardines is preparing to acquire Wheelock. Is there any problem with funding?" Bao Fuda asked again. As the second in command of the Jardines Department, he is still very clear about the financial situation of the entire company. There is too much blood loss overseas. The recent rise in the real estate market is barely a blood transfusion.

"Wheelock itself has a lot of high-quality assets. It is not a problem to acquire them, and it will not lose a lot, but John Maseng has been unwilling to hand over Wheelock's detailed financial reports, which makes me afraid to do it." New Wall Jian said with a slight frown.

Many assets of Wheelock make Jardine jealous. For example, the three buildings in Central have a large amount of land in North Point, Kui Wan, and Kwun Tong. What makes Newbikin the most exciting is the huge ocean transportation of Wheelock. Although the fleet is not as good as the shipping king Bao Yugang, there are more than 30 large and small transport freighters. Ocean transportation has always been Jardine's weakness. Jardine has always wanted to make up for this shortcoming, especially After the 1970s, the price of ocean transportation hit new highs repeatedly. Jardine even wanted to exchange Kangle Building and Bao Yugang for oil tankers, but was rejected.

But no matter how jealous, Niu Bijian would not dare to acquire the other company without obtaining detailed financial data from Wheelock, because once there is a pitfall, where there is a debt of hundreds of millions of Hong Kong dollars, it will be able to put Yi, who is already walking a tightrope, He was dragged into the water, although it would not be on the verge of bankruptcy like Hutchison a few years ago, but it was enough to seriously damage the vitality, and at the same time, it would make them, the top management, pack up and leave.

"This is indeed a headache. John Ma's refusal to hand over the financial information may be tricky in itself." Bao Fuda also nodded and said.

"Then we can only look at it again. If Wheelock has been unwilling to sincerely seek a merger, then there is nothing to talk about. Now that the Hong Kong real estate market and stock market are rising, we cannot continue to delay because of this matter. "New Bijian said again.

The acquisition of Wheelock requires a lot of capital, and it also needs to use a lot of credit resources, etc. It can be said that if it is really merged, half of Jardine's resources will have to be invested in it. In the future, it may be possible to rely on some sales of properties, Branch companies, seeking listing and other methods to withdraw funds, but that is also a matter for the future.

If it is not settled down, Jardine's funds and resources can only be suspended in the air. If it goes on for a long time, it will definitely be unbearable and can only be given up.

"That's right, it should be settled as soon as possible." Bao Fuda nodded and said, "Hongkong Land is going to participate in the auction of the two properties of the Hong Kong MTR Corporation in Central and Admiralty. It is estimated that it will also need a lot of funds. The matter of Wheelock really cannot be delayed forever."

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