Reborn since 1993

Chapter 906 Picking up the leaks
Tse Sui Luen Jewellery Company is a typical family-owned company. Family-owned companies are a very common model in Hong Kong, Southeast Asia and other places. Basically, the sons inherit the father's business, and the senior executives are mainly family members.

Family-owned companies certainly have many problems, but there is one thing that companies managed by professional managers cannot match.

That is, the founder's family and the company are tied together. They fight among themselves and engage in all kinds of intrigue on a daily basis, but when the company and the family are in danger, they will advance and retreat together.

This is not about being wise and righteous, but the head follows the butt. If the company goes bankrupt and the family is gone, how can they continue their life of luxury and extravagance? What else can they do if they don't stand with the company?
When a professional manager encounters a bankruptcy crisis, he or she will probably just walk away, leaving the mess behind. However, a family-owned company cannot run away. Even if it goes bankrupt, as long as a capable person takes over the company, there is a chance for the company to make a comeback.

This includes the previous life's Tse Sui Luen Company. Like Mr. Li Dashan, Tse Sui Luen Company is a company named after its founder.

But in his previous life, both Xie Ruilin and his son were sent to Hong Kong City Prison for their shameless operations. Xie Ruilin's company also went bankrupt and was delisted from the Hong Kong City stock market.

But at this point, under the leadership of the Tse family's daughter-in-law, the Tse Sui Luen Company still regrouped and made the Tse Sui Luen brand one of the four major Hong Kong jewelry brands along with Chow Tai Fook, Chow Sang Sang and Luk Fook!

However, such cases are rare after all. Most family-owned companies are lost to prodigal sons who go to Macau and squander their fortunes after a night of gambling.

Whether it is a professional manager system or a family-owned company, it is impossible to be perfect. There is no perfect system in this world. We can only take our chances and see whether the next head selected is a man of great talent or a fool...

After taking a few sips of wine and exchanging a few pleasantries, Xie Ruilin, who is now in his sixties and in deep bankruptcy crisis, had no appetite to drink any more.

Looking at Li Dongling, Ning Wenke, and Lin Xianhui in front of him, Xie Ruilin couldn't help but ask, "I don't know, this time you asked me to come here, is it because..."

Now, due to the expansion in recent years, in addition to its main jewelry business, Xie Ruilin Company has also acquired Poly Building, real estate, invested in stocks, etc. and borrowed a large sum of money from the bank.

But now, the buildings and land that were acquired cannot be sold at all, the game of passing the parcel can no longer be played, and the stocks invested by Xie Ruilin have also plummeted.

Banks in Hong Kong also continued to raise interest rates due to Ren Zhigang's request, urging people like Xie Ruilin who owed money to pay back the money.

Seeing that the interest rate was getting higher day by day, the buildings and stocks in hand could not be sold at all. The entire Xie Ruilin Company was in debt, and it had exceeded 1.3 billion Hong Kong dollars. However, the current market value of Xie Ruilin Company was only 1.5 billion Hong Kong dollars, and the stock price was still plummeting...

Now the entire Xie family is in a state of panic trying to pay off their debts. No one knows whether they will go bankrupt or not. The entire Xie family is trying to raise money everywhere.

But now, everyone, including Hongcheng Bank, is in danger and is desperately selling off their property to exchange for US dollars. Who is willing to lend money to the Xie family?
Therefore, after receiving Lin Xianhui's invitation, Xie Ruilin rushed over without giving it much thought, regardless of whether he could borrow money or not, he just wanted to come and give it a try.

Li Dongling glanced at Xie Ruilin and turned the wine glass in his hand, "I invited Mr. Xie here today because I really have something to discuss with you!"

Lin Xianhui took over the conversation and continued, "Cyberport Company, I heard that Boss Xie's company encountered a little trouble!
It took Mr. Xie and the Xie family 20 years to build the Xie Ruilin brand to where it is today. It would be a pity if it went bankrupt like this!"

Hearing this, Xie Ruilin couldn't help but reveal a look of hope on his face, like a drowning man who had grabbed a life-saving straw.

"Is your company willing to lend a hand to our Xie family?" Xie Ruilin asked Li Dongling, Ning Wenke and Lin Xianhui with anticipation.

After hearing what Xie Ruilin said, Li Dongling did not say anything, but Ning Wenke and Lin Xianhui frowned.

They could tell from Xie Ruilin's words that he wanted to tie this brand together with the Xie family.

It is true that the company belongs to the Xie family, but that does not mean that the Xie family can do whatever they want with a Hong Kong listed company.

This is the mentality of the head of the Xie family, Xie Ruilin, who regards the entire listed company as belonging to the Xie family. It is no wonder that the father and son of the Xie family were sent to jail for kickbacks and falsifying accounts in the previous life.

"Cyberport is willing to make a deal with Tse Sui Luen Company, not the Tse family!"

Ning Wenke pursed her red lips and spoke to Xie Ruilin. In front of outsiders, she was a female professional manager who had been vigorous and powerful in Hong Kong in recent years.

Xie Ruilin was a little surprised when he heard this, "What does this mean?"

"Cyberport is willing to acquire the shares of Xie Ruilin held by Mr. Xie's family. After the acquisition is completed, the debt problems of Xie Ruilin will also be borne by Cyberport."

Lin Xianhui also made it clear that Cyberport wanted to buy the shell of Chow Tai Fook's listed company, complete its listing in Hong Kong as quickly as possible, and then start the acquisition of Hong Kong Telecom.

As for whether the acquired Xie Ruilin Jewelry Company will continue to remain in Dongling Hi-Tech or be sold off, it all depends on the mind of Mr. Li.

"Are you going to buy the Xie family's company?" After hearing Lin Xianhui's words, Xie Ruilin's voice became louder, causing everyone in the banquet hall to look over here.

"Thank you boss!"

Looking at Xie Ruilin who was breathing heavily and extremely excited, Li Dongling stretched out his hand and pressed down, signaling him to calm down.

"That is our Xie family's ancestral property, which we spent thirty years to build. We cannot let outsiders take it away!"

But Xie Ruilin couldn't calm down. He started out as a jeweler in Tsim Sha Tsui, with a small jewelry processing factory of 10 square meters, and brought Xie Ruilin Jewelry Company to the market.

Currently, Xie Ruilin's company has more than a thousand people, including processing and store sales staff. It is also one of the earliest jewelers to enter the mainland market, selling goods to Siam, Singapore, America and other places.

Although in recent years, Xie Ruilin's mind has not been on the jewelry industry, and he has been obsessed with quick money-making businesses such as real estate speculation and stock speculation, this does not mean that he wants to sell out the company that he spent half his life building and regarded as the foundation of the Xie family.

“This is not forced!”

"We have no intention of taking away Boss Xie's company!"

"If Mr. Xie is unwilling to part with his business, we will just treat today as a trivial matter and nothing has happened. Cyberport will never bother Mr. Xie again!"

Li Dongling placed the wine glass heavily on the table and spoke directly to Xie Ruilin.

There are many listed companies in Hong Kong that are unable to survive now, especially those engaged in trade, real estate, building materials, and Hong Kong’s traditional textile, electronics and other companies, which are also having a miserable time.

Cyberport Company can choose to acquire Tse Sui Luen Jewellery Company, or choose to buy the shells of other companies. It is not necessary to buy it!
The reason why he chose to meet with the Xie family first was because Li Dongling knew that buying Xie Ruilin was not a waste of money. After surviving these few years, Xie Ruilin Company would have the opportunity to become one of the four major jewelers. By then, it would be a popular commodity again, and this deal would not be a loss.

But if the Xie family does not sell, Li Dongling will not force them and will just find another Hong Kong listed company to acquire it!

Xie Ruilin, who was originally very excited, calmed down at this time. He knew that the choice was not in his hands.

At this moment, he had no idea what the script of Xie Ruilin Company was like in his previous life, and he would never have thought that the Xie family still had a capable person who could turn the tide after bankruptcy.

The problem facing him now is that if he cannot get the money to repay his debts, Xie Ruilin Company, including the Xie family, will go bankrupt!
To be acquired by Cyberport or to wait for bankruptcy, this is the choice before Xie Ruilin!

His throat moved, and Xie Ruilin seemed to have aged by ten years in an instant, with his body becoming a little hunched.

"Mr. Li, Xie Ruilin Company is the result of my life's hard work and the foundation of the Xie family..." Xie Ruilin said to Li Dongling.

Li Dongling and Ning Wenke looked at each other, then looked at Lin Xianhui.

"Cyberport can acquire the controlling stake of Xie Ruilin Company held by the Xie family for 600 million Hong Kong dollars!"

After saying that, without waiting for Xie Ruilin to speak, he continued, "After the acquisition is completed, the Xie family can still retain a portion of Xie Ruilin's shares, and Xie Ruilin can still be managed by the Xie family!"

"but……"

Li Dongling looked at Xie Ruilin and said, "Boss Xie, you need to step down as the president of Xie Ruilin Company. The Xie family can nominate a new member to serve as the head of Xie Ruilin Company after Cyberport Company agrees.

In addition, in the future, Tanglin Hi-Tech, Ning's Trading Company, etc. will also give Xie Ruilin Company due support! "

It cost 600 million Hong Kong dollars to acquire the shares of Tse Sui Luen Company held by the Tse family, plus repaying the debt of 1.3 billion Hong Kong dollars to take over the shell of Tse Sui Luen, with a total cost of about 1.9 billion Hong Kong dollars.

Xie Ruilin Company is now heavily in debt, but that is the money owed by the Xie family due to their dirty tricks. There is no problem with its main jewelry business, and the current turbulent market in Hong Kong means that the prices of jewelry and gold are soaring.

This transaction included the Tse Sui Luen, a jewelry brand that was already quite famous in Southeast Asia and Chinese circles, as well as the Poly Building under the Tse Sui Luen company, skilled jewelry craftsmen, stores, inventory worth hundreds of millions of Hong Kong dollars, diamonds, gold, etc.

If all of these were discounted at normal prices, not to mention 1 billion Hong Kong dollars, at least 700 million or 800 million Hong Kong dollars could still be cashed out. But now, apart from Cyberport supported by Dongling Hi-Tech, no other company is willing to take over Tse Sui Luen's company.

(End of this chapter)