The Industrial Giant Reborn

Chapter 141 The Formal Establishment of Hutchison Whampoa

[The name of the One Foundation in the previous chapter has been changed. I just found a convenient name. I didn’t check the information. Because this is not a commercial layout, I thought it was unnecessary, so I don’t know the actual situation. Sorry! 】

After setting up related matters at the Xinghe headquarters, Chen Zhiwen came to the Hutchison Whampoa headquarters again. The two companies are in different places. This is not good. His boss sometimes has to run on both sides. The super building is much more convenient.

When I came under the building, I saw a few workers on the top of the building changing the sign on the roof. Although the merger of Hutchison and Huangpu Company has not been fully completed, there will be no problems. The company nameplate will naturally need to be replaced. up.

The Hutchison Whampoa from the previous life finally came into his hands. As for Li Jiacheng, he is now cooperating with Hutchison on many real estate projects, cultivating new real estate talents for Hutchison, and also solving Hutchison’s current problems by the way. Financial issues, in this process, he will also benefit a lot, especially the gradual rise in real estate prices, everyone can say that they are making money together.

"Chairman, please." Chen Zhiwen and his group walked into their own elevator, owning a building of their own, which is very convenient in many places, such as this independent elevator, which is guarded by a special person, and only a few people can take it , it is impossible for outsiders to enter the core floor, and the maintenance is also the best.

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

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

"It's okay, it's actually not a few steps." Zhou Jiayang said with a smile.

Indeed, there are only a few steps, and the area of ​​the single floor of Hutchison Building is not very large. In addition, 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 came, the assistant told Zhou Jiayang his whereabouts. This was allowed by Chen Zhiwen. As long as it was not a surprise inspection, it would be more convenient for his staff to be ready, so as not to waste energy and time.

"How about the merger with Huangpu Group?" After sitting down, Chen Zhiwen asked.

"We have acquired 83% of the shares of the Whampoa Group, and the Whampoa Group has also been delisted, with a total cost of 9000 million Hong Kong dollars. The company's registered name, Hutchison, has also been changed to Hutchison Whampoa." Zhou Jiayang Hui reported.

Chen Zhiwen nodded and said, "Okay, I remember that the Whampoa Group is also heavily in debt, 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 slimming down, in fact, the current Hong Kong real estate is only showing a slight upward trend, and there are only a few talents Dare to be ambitious and courageous and dare to make large-scale investment in the real estate market, and everything else is in a wait-and-see state.

However, Hutchison or Whampoa or other subsidiaries have a lot of non-real estate businesses. These businesses are more difficult to sell, even if they want to sell, or they can only be sold at the price of cabbage. If the price does not exceed the mortgage amount, it will lose money.

"Yes, there are more than 3 million Hong Kong dollars. The Whampoa 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 landlord in Hong Kong. It has a lot of land in Kowloon, Hung Hom, and Yuen Long. If possible, we can pick some land and sell them or imitate the former Li Jiacheng and ours. cooperation, and then also use these funds to develop land with better locations, and reduce our debt ratio in the shortest possible time.”

The real estate groups in Hong Kong are actually very rich in assets, far exceeding the market value, but generally expand through debt, so the company's net assets do not seem to be large, and this is reflected in the market value.

For example, Li Ka-shing’s Cheung Kong Enterprises, although the market value is only 3 to 30 million Hong Kong dollars, actually controls a lot of land and develops or develops many real estate projects with other consortiums. These add up to far more than one billion Hong Kong dollars, and the difference may be debts Yes, but if real estate appreciates in the future, say 80 times, then Cheung Kong's real estate projects will be worth [-] billion Hong Kong dollars. Although the debt also has interest, it is still far behind the increase in real estate. Therefore, in the early [-]s, no The assets of less Chinese capital have grown exponentially, and they have begun to have the capital to challenge British capital.

The reason why the British capital is pulling over is because of conservative operations and desperate efforts to reduce debts. The Swire Group holds a large amount of high-quality land on Hong Kong Island. As a result, it develops real estate but finds Chinese capital to cooperate. As a result, it loses a lot of profits for nothing and gives it to Chinese capital. Of course , Another reason is that British capital is not capable of developing real estate.

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

Theoretically speaking, knowing that the real estate market will rise three times in the future, you can easily solve the problems of Huangpu and even the whole Hutchison and Huangpu by waiting for the appreciation, but doing so will only get the most basic benefits of the real estate market. Therefore, the first thing to do now is to strip off marginal assets, cash out funds to activate high-quality assets, and then develop the unique huge land of Huangpu Group.

"Still looking for Li Jiacheng to cooperate? Will it benefit him too much?" Zhou Jiayang asked.

"Other people, who are you looking for? Not everyone has Li Jiacheng's bank resources, and not everyone has such confidence in the real estate market. Since he dares to play like this and is capable, shouldn't it be right to make money?" Chen Zhiwen said .

After starting to cooperate with Li Jiacheng, Chen Zhiwen arranged for someone to investigate the bank resources behind Li Jiacheng, and later learned that it was the Imperial Bank of Canada.This bank, just by its name, has a high status in Canada. After checking, it is found that it is a large bank with total assets of more than 200 billion U.S. dollars, and its scale is even higher than that of HSBC, the local overlord in Hong Kong.

As for how Li Jiacheng hugged this thigh, it is impossible to find out. As early as 1974, Cheung Kong was listed in Canada, and it was the underwriter of the Canadian Imperial Bank. He may have known him before.

With such a large bank behind him, coupled with Li Jiacheng's vision and current scale, it is difficult not to think about it. In the original history, he has established a good relationship with HSBC in two years, which can be said to be a good use of resources. To the extreme.

"That's right, it's only been less than two months. There are already more than a dozen projects that Heji shut down before. It is estimated that they will be completed next year. For us, it is also a good thing to cooperate with him." Zhou Jiayang nodded and said.

"How did you learn about real estate development?" Chen Zhiwen asked.

"They are very wary of us, and our people are only helping us when they go, and many meetings are not held together at all." Zhou Jiayang said.

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

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

"It's okay. Anyone with experience and ability is needed." Chen Zhiwen nodded and said, "Next year, He Huang will have to start many projects independently, not only for himself, but when the debt is better, he may have to buy it from other companies or the Hong Kong government." to develop."

"I understand." Zhou Jiayang looked excited after hearing this. Real estate companies in Hong Kong are competing for land reserves. The more reserves, the stronger the strength. For example, Landmark bought Milk International back then, in fact, it was for the milk company's development in Causeway Bay. Lots of land.If Hutchison only knew how to develop his own land, he would be sitting on empty land. Now because of the debt crisis, he had no choice but to reluctantly cooperate with Li Jiacheng to develop his own land. When the economic situation improves in the future, it is king to develop other land.

"Looking at Taikoo, this is a big landlord." Chen Zhiwen said with a smile. In the 70s and 80s, Taikoo released a lot of high-quality land and fertilized a lot of Chinese capital. He will find a way to win a few pieces of land, but now that he has the platform of Hutchison, he can naturally get more.

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

"Landmark? It's troublesome." Chen Zhiwen said with a frown. The scale of Hongkong Land is absolutely the largest in Hong Kong. The total assets of its properties exceed tens of millions of square feet. However, they are mainly centered on the Central Building, and the secondary ones It is also a golden location in other commercial districts, and now in Hong Kong, no company has a property reserve that can exceed that of Landmark. It was not until 1979 that this record was broken by Cheung Kong Industrial, but at that time, Cheung Kong Industrial's property lands were all In ordinary towns, there is not even a single central building.

"However, I suspect that this is Swire's deliberate rumor to put us under a little pressure, because according to the information I have received, Landmark's main energy during this period is still on the land in the hands of Milk International before the development, and it should not be used again. Interested in other land." Zhou Jiayang analyzed.

(End of this chapter)