People in Hong Kong create super chaebols

Chapter 56 Buy banks and oil companies!
At this time, the available funds in Sioux City's hands have reached 9400 million pounds.

Converted into Hong Kong dollars, that is 8.46 million Hong Kong dollars.

This was definitely a huge amount of money, and he even deliberately deposited it in several banks for this purpose.

Seeing that the funds in his hands were getting bigger and bigger, Su Cheng felt that it was time for him to set up a bank. Otherwise, there would be almost no privacy if it was stored in other banks.

Back on the 21st floor of the Su Group, Su Cheng lay on the deck chair on the terrace and began to ask Xiao Ai: "Tell me about the current situation of the banking industry in Hong Kong."

Soon, Su Cheng had a certain understanding of the Hong Kong banking industry in this era.

In the 60s and 70s, Hong Kong's financial industry rose. In addition to established banks, many new banks were born. At its peak, there were as many as 86 licensed banks.

However, after the banking crisis in 1965, the government suspended the issuance of banking licenses, and the number of licensed banks was reduced from 86 to 74.

Therefore, it is basically impossible to establish a bank in Hong Kong today.

The only way is to acquire a bank.

At present, there are eight major banks in Hong Kong, namely Hui Feng Bank, ZD Bank, Hengsheng Bank, Nanyang Commercial Bank, Oriental Bank, Oversea-Chinese Banking Corporation, Dongya Bank, and Dah Sing Bank.

Huifeng Bank, Su City will not consider it.

This is a completely British-owned bank with shareholders all over the world and a complex internal structure. It is basically impossible to control it.

Hengsheng Bank is currently also indirectly controlled by HSBC, with a stake of 62.14%. It is basically impossible and can be passed.

As for JGB, it is headquartered in London, England, and is a completely British-owned bank. It is impossible to control it without encountering a crisis.

Oriental Bank, as the earliest Xiangjiang Bank, is also a British-owned bank, and has now been acquired by Huifeng Bank.

Although the remaining few are Chinese-owned banks, they are currently unable to develop. If there are no accidents, acquiring them will definitely cost a lot of money. In this case, it is very unnecessary.

Well, none of the major banks need to consider it.

Therefore, the best way is actually to directly control a small bank that holds a banking license.

In fact, banks are not as profitable as imagined. They belong to the "high leverage" financial industry, and their operating performance is easily affected by the economic situation.

When economic growth slows down, banks' bad loan rates will continue to rise.

When economic growth picks up, bank profits will continue to accelerate.

In his previous life, Li Ka-shing was the richest man for many years. Why didn't he open a bank when he was so rich?These reasons are very important.

In addition, there is another reason. The richer people are, the more they like to borrow money from banks. If you open your own bank and then borrow money from your own bank, wouldn't you be asking yourself to borrow money?
Not opening a bank means that you can get more funds from other institutions and other people.

Su Cheng, on the other hand, does not have this problem. Under normal circumstances, he may never be short of cash in his life, and he rarely needs a loan from a bank.

Therefore, it is necessary to set up a private bank, which can mainly serve yourself.

As for developing banks?Su Cheng has no such idea for the time being.

If you really want to develop a bank in the future, you can let your private bank control a bank and then develop that bank.

Just like Huifeng Bank, it controls many banks.Of course, this must be done step by step. The most important thing at the moment is to have a private bank that is completely your own.

In the future, it is also possible to develop into a comprehensive financial group.

The main reason why he wanted to set up a bank was just for privacy, so that others would not easily find out his assets.

And if it is opened to the outside world, it will need to accept the supervision of the banking regulatory department. What is the difference between this situation and letting go of privacy to the outside world?
Su Cheng called Zhang Qizheng directly: "Help me acquire a bank as soon as possible. The smaller the better, as long as it has a banking license."

"Boss, this is easy to handle. I will help you inquire about it and I will give you the news within two days at the earliest."

Zhang Qizheng was not surprised after hearing this. After all, he knew very well how fast Su Cheng made money, and it was normal for him to want to set up a bank to serve him.

"Okay, then I'll leave this matter to you. You must find out the details for me. The debt situation and other things are not allowed to be leaked." Su Cheng continued.

"No problem." Zhang Qizheng responded.

The acquisition of small banks is not difficult, as long as you have the money.

Moreover, small banks are not actually valuable. Because of the government's license restrictions in recent years, some foreign banks that want to come in have to either cooperate with these 74 banks or acquire one of these banks. Small banks just have the capital to raise prices.

Therefore, these days, it is very normal for banks in Hong Kong to change their bosses.

Just when Su Cheng was about to hang up the phone, Zhang Qizheng said again: "By the way, boss, I have something to tell you."

"Just tell me what you have to say." Su Cheng said with a smile.

"It's like this. Didn't you ask me to look for oil companies for sale in Xiangjiang or Singapore before? After asking around, I actually found some information. There are some in Xiangjiang and some in Singapore. "Zhang Qizheng reported.

"What's the scale like?" Su Cheng asked.

"Our company in Xiangjiang is actually small in scale and relatively remote. It is located on Lamma Island. However, the refining facilities and oil storage equipment are relatively complete. The crude oil processing capacity is only about 100 million tons per year; while there is a company in Singapore Nanyang Petroleum Energy Company, in terms of scale, is larger and more complete than the one in Xiangjiang. Its crude oil processing capacity can reach 300 million tons per year. In addition, it also has lubricant production capacity." Zhang Qizheng details introduced.

"How much would it cost to buy both companies?" Su Cheng asked.

"Boss, I have inquired about the one in Singapore. Since it is larger in scale, has better equipment, and has oil sales channels in many places in Singapore and Malaysia, their boss offered 1000 million Hong Kong dollars; as for Xiangjiang This one here only costs HK$300 million, and the prices of these two oil companies are within a reasonable range." Zhang Qizheng said.

"The price is okay. You have people investigate the details of these two companies. If there are no problems, buy them for me as soon as possible." Su Cheng said directly.

"Okay boss." Zhang Qizheng responded.

After hanging up the phone, Su Cheng began to calculate the time.

It is now almost mid-June, not far from the second oil crisis that started in November.

When I go back at the end of the month, it will be almost July. It will take one to two months to install the oil storage tank. If you want to store crude oil well, the oil storage tank is essential.

Then, it will take another two months to negotiate a huge deal.

In terms of time, it's very tight.

Whether you can make a big profit this time, it’s important to be well prepared!

　Ask for a monthly pass, ask for a recommendation ticket!
　　
　
(End of this chapter)