Hong Kong 1980: The Savage Era

Chapter 494 [Revisiting Singapore]

Unfortunately, the senior management of Bank of America rejected the suggestion. They expressed their willingness to invest in Wang Laboratories only for Luo Qihong's sake, and becoming the second largest shareholder was their best suggestion.

Luo Qihong didn't want to continue to argue, so he had to grit his teeth and become the largest shareholder.

A conference room at Wang Laboratories in Massachusetts.

Wang An passed away in 90. Currently, the company is managed by his son Wang Lie. Wang Lie is helpless in the face of this crisis. Now that Luo Qihong is willing to take over the company and save the family from bankruptcy, Wang Lie is very happy.

"Mr. Wang, the audit team of Hengan Investment Company has completed the basic audit and found no fatal problems. I also allow your family to continue to hold 3% of the company's shares. However, the company is heavily in debt and needs more financial support than I imagined, so the price of acquiring your shares needs to be negotiated again."

After hearing what Luo Qihong said, Wang Lie fell into deep thought. At present, the conditions offered by Luo Qihong were the best. Those foreigners wanted to make the company bankrupt so that they could take advantage of the situation and take over some of the company's industries and elite talents.

Luo Qihong at least protected his father's life's work, and the family line was able to continue.

"Okay, Mr. Luo, please make an offer." Wang Lie said with a sigh.

"4000 million US dollars, plus 3% equity. I will solve the 500 million debt you have, and you can take the 4000 million directly." Luo Qihong said.

Originally, Wang Lie offered a price of 6500 million US dollars, which was intended to bully Luo Qihong for not being an American. Unfortunately, Luo Qihong's team in the United States was not a pushover and had already thoroughly investigated Wang Laboratories.

"OK! I just have one request. Mr. Luo must not change the name of the company within ten years. This will be considered as an explanation to my father." Wang Lie sighed.

"That's no problem." Luo Qihong nodded. "Once the acquisition is completed, I will also recommend that the board of directors give Mr. Wang the title of honorary chairman."

"Thank you!" Wang Lie was still quite pleased. Chinese people are much more considerate when doing things than foreigners.

In fact, Luo Qihong wanted to use this reputation to gather elite talents who originally worked for Wang An's family, so as to avoid "getting half the result with twice the effort" and get the company back on track quickly.

Once the contract was signed, the news spread like wildfire, causing quite a stir in the American computer industry.

When a giant falls, many small giants will be born from its original body. Now that the giant is not dead, there is still a possibility of standing up again. This makes the companies that want to become small giants dumbfounded and they have completely miscalculated.

Of course, these companies were very interested in the Chinese who took over Wang Laboratories, so they sent people to investigate the background of Hengan Investment Company and Luo Qihong.

The information they obtained shocked them. They found out that there are such wealthy Chinese in the world, and their abilities and vision have been proven to be good. They have a hunch that the industry will face a strong competitor.

Of course they want to trip it up, but unfortunately, Citibank is the second largest shareholder, and they have to consider whether they can defeat this behemoth.

Luo Qihong had no time to care about what his opponents were thinking. He was now busy reorganizing the company's internal affairs. First, he had to settle the company's debts. Not to pay them all off, but to clear half of the most urgent debts. Second, he had to recruit talents, reopen the research department, and launch an attack on the personal computer field.

Fortunately, just as Luo Qihong imagined, many elite talents of the company are willing to return. Of course, Luo Qihong also guaranteed that the company is not a family-owned business and will not be a one-man show. At the same time, his benefits have been increased, such as increased dividends.

It was not until early to mid-May that Luo Qihong dared to take a breath. The internal problems had finally been mostly resolved and the company was back on track.

As for external threats, Luo Qihong does not think they can be resolved in a short time. The only way to compete for the market is to rely on product quality and user demand.

Then Luo Qihong went to Microsoft and other companies to discuss cooperation and lay the foundation for the development of personal computers. Of course, Microsoft and other companies made huge demands, but Luo Qihong did not agree to their unreasonable demands, adhering to the principle of mutual benefit and win-win.

When Luo Qihong went to discuss cooperation, he was not without capital. Before that, he had used the 3.8 million US dollars (1 pound was equivalent to 2 US dollars) he earned from the Midland Bank in the UK to purchase a large number of stocks of the cooperative companies, such as holding a 2.4% stake in Microsoft.

After staying in the United States for more than a month, Luo Qihong left the United States and went to Singapore.

After half a year of operation and development, Yeo Hiap Seng Group has turned the predicament around. With the help of Hop Siang Trading Company, the situation has improved greatly and it is expected to achieve profitability in half a year.

Luo Qihong was very ambitious. As soon as he gained a foothold in the Yeo Hiap Seng Group, he went against all odds and led the group to build factories in the mainland. He planned to introduce sauces, beverages and other foods into the mainland market, and even sell Pepsi-Cola in the mainland.

Luo Qihong had realized in his previous life how profitable food was, so he had to occupy the market in advance, and at the same time he could use the factory to occupy more advantageous land.

Zhang Wenhe, general manager of Singapore Hengan Investment Company, sat opposite Luo Qihong to report his work. "Mr. Luo, I have followed your instructions and sold all the Straits Times Index investments. The rate of return is close to 41%. The investment of 1.5 million Singapore dollars has earned a profit of 6100 million Singapore dollars."

"Yes." Luo Qihong nodded. "This money will be used to purchase the shares of Yang Xiecheng Group. I will take as many as I can."

Zhang Wenhe was silent for a moment, then said, "The market value of Yeo Hiap Seng Group has increased a lot, but it has not exceeded S$4.5 million. We also hold nearly half of the shares, so S$2.1 million is more than enough. Should we use some of the funds to make other investments?"

"Do you have any good suggestions?" Luo Qihong asked Zhang Wenhe.

The situation in Singapore is very good now. Many people are speculating on small and medium-sized stocks. The banking and real estate industries are also rising rapidly. It can be said that you can make money by investing in anything.

"UOB, City Developments, and Lipsea Group. These companies all have good momentum, and they are large companies and relatively stable." Zhang Wenhe was still very cautious.

Luo Qihong smiled and said, "Okay, then allocate 1 million Singapore dollars to buy the stocks of these companies."

"This is the real estate company information you asked me to collect." Zhang Wenhe pushed a pile of documents on the table in front of Luo Qihong, with a glimmer of hope in his eyes.

Luo Qihong picked up the top document and asked casually, "Do you have any good companies to recommend?"

Luo Qihong didn't want to wait any longer, and the real estate company could be incorporated into the Yeoh Hiap Seng Group in the future to achieve certain goals, which would be beneficial to him overall.

"The company I would recommend first is Singapore Land. This company has just gone public and has a large number of properties in core business districts such as Orchard Road and Marina Bay. I have also acquired some of these properties before and I am quite familiar with this company."

“The second recommendation is the department store Tangs, which is engaged in high-end retail and owns department stores in some business districts such as Orchard Road. Although it is not a real estate company, I think it is a suitable acquisition target.”

"The third recommendation is Parkway Holdings, which is a company with real estate development as its main business and medical care as its secondary business. It owns a large amount of land and properties near the Orchard Road business district and has acquired a number of hospitals, which seems to be a sign of transformation."

Zhang Wenhe spoke like he knew everything, as if he had guessed what Luo Qihong was going to ask.

Half an hour later, Luo Qihong took a look at the background information of the 11 companies and selected 5 companies, 3 of which were recommended by Zhang Wenhe.

However, what Luo Qihong likes most is United Industrial Group, the flagship company of the Huang Zuoyao family, which controls Singapore Land Company. If he can take it over, he will have everything.

(End of this chapter)