We're building a super chaebol in Hong Kong

“I'll find some time to talk to Jardine Matheson's taipan, Simon Keswick, about this piece of land.”

Su Cheng used a red pen to mark a tick on the information about this piece of land, and then turned to the next page.

The information on this page turned out to be the sale of two buildings together, namely the Federal Building and the Mong Kok International Building, with a total selling price of HK$1.8 billion, and the seller was the well-known Wheelock and Company.

Su Cheng knew about the Federal Building because of its special status in Hong Kong. This building was built in 1964, with 31 floors and 91 meters high. It was the tallest commercial building in Hong Kong from 1964 to 1966, so its popularity in Hong Kong was relatively high.

Su Cheng often passed by this commercial building located on Des Voeux Road Central in Central, which is also an important part of the Central city skyline. He didn't expect it to be put up for sale.

As for the Mong Kok International Building, it is also a relatively tall building on the Kowloon Peninsula, with a height of 30 floors.

Two buildings, both over 30 floors, actually only sell for HK$1.8 billion, and one of them is in a prime location in Central. Buying it is a profit!

Wheelock and Company is not doing well now. Due to insufficient confidence in the prospects of Hong Kong and overly conservative business methods, its profits in the real estate industry are not high. In addition, the depression in the shipping industry has brought greater losses to Wheelock and Company, resulting in the group's current difficulties.

“What's going on here? Why is Wheelock and Company selling two buildings together?” Su Cheng asked Zhang Qizheng in surprise.

He believed that Zhang Qizheng must have also investigated the situation behind the scenes when collecting this information.

Sure enough, Zhang Qizheng replied directly: “Boss, this is the case. Like Global Shipping Company, Wheelock and Company has more than 200 subsidiaries, but its main business is still shipping. Due to the oil crisis and many other problems, the shipping industry has begun to decline in recent years, and Global Shipping Company has already been selling a large number of ships.

Wheelock and Company is different. They are still increasing their efforts to order new ships, and even acquiring a large number of second-hand freighters from Global Shipping Company. In their opinion, this is a great opportunity for Wheelock and Company to surpass Global Shipping Company and become the world's number one shipping company.

Since Global Shipping Company has recently been selling a batch of freighters, they plan to buy them, but they do not have enough funds, so they want to sell the Federal Building and the Mong Kok International Building in order to recover funds and then use the money to purchase this batch of freighters from Global Shipping Company.”

Didn't expect there to be such a thing?

Su Cheng was a little surprised.

This Wheelock and Company is really jumping into a fire pit.

Now, Bao Shipping King is mainly focusing his energy on Wharf, and although Global Shipping Company is his family business, he has realized that if Global Shipping Company does not reduce its burden, it will definitely be heavily in debt in the future, thereby dragging him down.

Therefore, Global Shipping Company has been constantly reducing its capital. It is said that many new ship ordering plans that were originally planned at the beginning of last year have been stopped by Bao Shipping King.

Now, Bao Shipping King's main goal is to get Wharf to build Harbour City as soon as possible and then put it into use.

Previously, Su Cheng's logistics company also bought some freighters and oil tankers from Global Shipping Company, but not many were sold.

Wheelock and Company is the real big customer of Global Shipping Company, constantly undertaking the ships eliminated by Global Shipping Company.

“What is the market price of these two buildings?” Su Cheng asked.

“The market price is around HK$2 billion, but there is a price but no market. It is difficult to sell them in the current market.” Zhang Qizheng replied.

Su Cheng nodded, already calling for Xiao Ai in his heart.

“Xiao Ai, do you have information on the sale of the Federal Building here?” Su Cheng asked in his heart.

“Yes, Master.” Xiao Ai quickly gave the answer.

It turned out that if Su Cheng didn't buy it this time, in the next year, which is 1980, Wheelock Properties under Wheelock and Company and Li Ka-shing's Cheung Kong Holdings would form Zhuojian Investment Co., Ltd., each holding 50% of the shares; Zhuojian would first purchase the Federal Building and International Building under Wheelock and Company at an internal price of 1 billion yuan, first collecting 500 million in cash, and then Li Ka-shing would use Zhuojian to sell the two buildings for 2.235 billion, and then let Wheelock cash out 1.1 billion, and Li Ka-shing would also get 1.1 billion, deducting the original 500 million paid to Wheelock, he would earn 600 million in just a few months.

This is the short-sightedness of John Marden, the current chairman of Wheelock and Company. In order to reduce risks, when Wheelock develops real estate, it would rather re-evaluate the land and allocate it as capital, and then cooperate with other developers with strength to share the profits.

Zhuojian is just an empty shell company created by Wheelock and Company to prevent risks. The main purpose is to sell these two buildings, and finally let Li Ka-shing contact others to buy them for 2.235 billion, letting others easily earn 600 million Hong Kong dollars for nothing. Wheelock and Company itself actually obtained about 1.6 billion Hong Kong dollars in funds.

This should also be secretly discussed by Li Ka-shing and John Marden, the chairman of Wheelock and Company. Perhaps Li Ka-shing already knew that someone was willing to spend this price to buy these two buildings, otherwise there would not be such an operation in the end.

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Judging from this, Wheelock and Company chose to hand over the sale to Li Ka-shing because they couldn't sell it at the listed price before, and then this scene happened?

Su Cheng roughly saw some of the tricks in it. He had to admire Li Ka-shing, who was able to become the richest man in his previous life, was indeed extraordinary.

However, in this world, since he has encountered it, he will naturally not let Li Ka-shing have the opportunity to earn this money.

He has taken a fancy to these two buildings.

1 billion is definitely unrealistic, that is just the price of Wheelock and Company selling from its left hand to its right hand. The market price of properties around 2 billion, their current selling price of 1.8 billion is not outrageous.

However, since they chose to cooperate with Li Ka-shing, the final income is only 1.6 billion Hong Kong dollars, then it also means that they can accept the price of 1.6 billion, it just depends on how to convince them.

Thinking of this, Su Cheng smiled and said to Zhang Qizheng: “I have also taken a fancy to this.”

Zhang Qizheng was a little surprised. If the boss continues to look at it like this, wouldn't he buy all the properties in this information?

Because he himself has calculated the total value of this information. If calculated according to the prices offered by these owners, the total price will exceed 8 billion Hong Kong dollars, reaching 8.685 billion Hong Kong dollars.

And the piece of land on the first page plus the two buildings on the second page, the total selling price has already reached 4.186 billion Hong Kong dollars.

(End of this chapter)