Hong Kong 1980: The Savage Era

Chapter 546 548 [Good things in the hands of the British consortium] (New book, please collect)
After a week of checking the accounts, no other serious problems were found, so Zhaoan Group injected US$13 billion and transferred some businesses to Bahrain Bank in an attempt to save the company.

As the Bank of Bahrain went bankrupt and was liquidated, its original listing status was cancelled and it became a private company.

In order to take control of the Bank of Bahrain, Luo Qihong transferred more than 20 senior executives from European and American Heng'an Investment Company to the core departments. At the same time, he fired all the employees involved in the case and filled them with his own people.

"You must learn from your mistakes and fill the loopholes in the company's system. As for the bank's losses, I will take care of them. You should arrange the important projects first." Luo Qihong said to William, the old retainer. "If anyone hinders you from sorting out your affairs, you can fire them immediately and hold them accountable for their legal responsibilities."

William has followed Luo Qihong for many years and knows the boss's temper well. If he cannot control him, he will definitely resell the Bank of Barings at a low price. As for the loss, the boss will not take it seriously.

"Don't worry, I will run the Bank of Bahrain into the next Heng'an Investment Company." William said loyally.

It’s not that Luo Qihong doesn’t trust the people of Zhaoan Group, but the problems of Bahrain Bank are very serious and he must make the decision personally so that Bahrain Bank can return to normal as soon as possible.

According to Luo Qihong's expectation, the next boss of Bahrain Bank should be one of Bai Jinyan's sons. This bank will be the flagship of the Luo family in the banking industry and will also become one of the world's major banks.

Luo Qihong trusted William very much, and the internal affairs of Barings Bank did not require the boss's help, so he flew back to Hong Kong.

When the news of Zhaoan Group's acquisition of a long-established British bank reached Hong Kong, the media went wild, praising Luo Qihong with effusive words. Some media also said that the British's glorious moment was gone forever.

Since the 84s, the status of the British in Hong Kong has declined a lot, and Chinese businessmen have become the dominant force in Hong Kong's economy. Even if the Hong Kong government wants to restrain them, it is powerless to reverse the situation.

However, Hong Kong's banking industry is still dominated by the British. Not to mention the wave of bankruptcies of Chinese banks before 87, the largest Chinese bank in Hong Kong now is the Bank of East Asia, which is far less influential than Hang Seng Bank.

The acquisition of Bank of Bahrain by Zhaoan Group opened up a bright road for Chinese in the banking industry and gave them a chance to feel proud.

Today, the Luo Qihong family owns the Zhaoan Group, China Gas Company, Hengchangxing Holdings Group, Dehe Real Estate Company, Fujia Newspaper Group, Asia Television Group, Baoxiang Film Company, and Hengan Investment Company in Hong Kong.

The current property market is sluggish, but the decline is not very large. This is due to the British financial groups' pessimistic views on Hong Kong and the large-scale sale of properties.

The Hong Kong government is also using public opinion to crack down on the property market. The property market is sluggish and it is inevitable that it will shift into adjustment.

In the past, from the fourth quarter of 95 to the first half of 97, the Hong Kong property market was very crazy, with an increase of up to 100%. For example, residential properties on Hong Kong Island have now fallen by about 20% and are priced at HK$5000 per square foot. But by 97, the price will definitely rise to HK$1 per square foot.

A 100% increase in two years, an average of 50% per year, is considered a very high increase.

Dehe Real Estate Company and Zhaoan Group have many commercial buildings that have been demolished and rebuilt, and it is expected that they will be ready for occupancy in June or July. They will then choose to sell them off in the first half of 6.

Of course, the properties that were sold off were those in non-central locations and small commercial buildings. If there was an opportunity, they would be bought back at a low price after 97.

Kwan Ka Wai's private company, Chi Wai Properties.

"New company, new atmosphere!" Luo Qihong sat on the leather office chair and looked at Guan Jiahui's office decoration.

Qihui Real Estate Company has just moved to Central Plaza in Wan Chai and rented half a floor of an office building, which is about 9500 square feet and costs nearly HK$500 million in rent per year.

This rent is just a drop in the bucket for Chi Hui Real Estate Company, but it is still somewhat inappropriate because Chi Hui Real Estate Company also has its own commercial building in Wan Chai and there is no need to move to Central Plaza where the rent is more expensive.

Guan Jiahui said quite proudly, "Of course, I originally wanted to move to the property at Financial Plaza or 9 Queen's Road Central, but the rent there is a bit expensive, and there is no need, so I moved to Central Plaza."

Qihui Real Estate Company is now quite large, with more than 50 employees and a professional securities department. Its assets have exceeded HK$30 billion.

Luo Qihong looked through the financial statements of Qihui Real Estate Company and found that it made a profit of HK$7.23 million last year, which was just enough to cover the expenses of demolishing and rebuilding Dongying Building. In fact, most of Qihui Real Estate Company's profits came from real estate speculation, followed by investment in securities and stocks, and finally from rent collection.

Rent collection is the most stable source of income for Qihui Real Estate Company. Although it is only HK$1 million, it can guarantee income during the economic recession and prevent the company from eating up all the funds.

"Pay my rent honestly from now on, don't delay. Otherwise I will have someone kick your company out." Luo Qihong joked that getting along with women requires more than just money, you also have to understand the fun.

"Humph! I'm not afraid. Everyone in Zhaoan Group knows my identity. I don't have money to pay the rent, so they don't dare to urge me to pay." Guan Jiahui said confidently.

"You are so arrogant! If you don't know, you would think that Central Plaza belongs to you."

"Isn't what's yours mine? And what's mine is still mine." Guan Jiahui fell on Luo Qihong, smiling brightly.

The two fought with each other for more than ten minutes before they stopped.

"Will the local market continue to fall?" Guan Jiahui adjusted her clothes and then helped Luo Qihong adjust them.

Luo Qihong smiled. British and other foreign capital were selling off their assets in Hong Kong. Although the selling force of foreign capital was not large, it still had a significant impact on the market.

The Hang Seng Index is rising slowly, and the local market will not see a big drop.

"There won't be a big drop. If you want to buy residential properties, shops, or shopping malls, now is a good time. You can give priority to purchasing properties sold by British capital." Luo Qihong smiled faintly.

The British consortium has been entrenched in Hong Kong for hundreds of years, and many of the good things in Hong Kong Island and Kowloon are in their hands. Chinese businessmen have bought back a lot in 20 years, but there are still many good things hidden in the bottom of the box.

Guan Jiahui has been involved in the property market for many years and has learned a lot and gained some insight.

"A lot of people are eyeing the good stuff from the British, and I can't get it. Why don't you help me? I know you are very familiar with the British." Guan Jiahui said coquettishly.

Luo Qihong pinched Guan Jiahui's nose and said with a smile, "You are already a mother of a child, and you still act like a spoiled child and ask for things. Don't set a bad example in front of the child."

Guan Jiahui pouted and said proudly, "I am a good mother. I am very strict with Chong and the others."

"Just to say hello to you, A Chong is going to study in the United States next year. What are you going to do? Stay in Hong Kong or go with him?" Luo Qihong suddenly became serious.

When Guan Jiahui heard Luo Qihong mention studying abroad, she also agreed.

"Come with me. If anything happens, I can take a special plane back. It's very convenient." Guan Jiahui had already thought about it.

"That's good. Boeing's plane should be ready soon, which will be much more convenient in the future." Luo Qihong did not plan to sell the second-hand plane. This way the family would have two private planes, which would be enough.

It’s not that Luo Qihong is stingy, but there are only a few family members and there is no need to waste resources.

"The Swire Group should be rooted in Hong Kong and will not leave; most of the properties under the Jardine Matheson Group have been sold, but there are still some good things on hand." Luo Qihong analyzed all the famous British companies in Hong Kong.

"As expected of a British financial group, they have so many good things." Guan Jiahui's eyes lit up.

"I'll ask Su Qishan to help you contact those British guys. If you want to buy anything, you can call him."

(End of this chapter)