Rebirth: The Era of Hong Kong Tycoon

Chapter 291 [Tragedy]

September 1983, 1, morning.

Galaxy Financial Group and Hang Lung Bank held a press conference, announcing that Galaxy Financial Group would wholly take over Hang Lung Bank and inject 5 million Hong Kong dollars in cash into Hang Lung Bank.

At the same time, the management of Galaxy Financial Group also began to take over Hang Lung Bank, and there were several banking elites hired by Lin Rongheng from overseas to serve as consultants and directors of Hang Lung Bank; of course, the main management of Hang Lung Bank is still Chinese, after all, the main business is in the Chinese area.

Ah Lei is a member of the crowd in Hong Kong. He is an ordinary office worker. He earns 2000 Hong Kong dollars a month for working in the factory, and his wife also earns 1500 Hong Kong dollars a month. The family income is 3500 Hong Kong dollars a month;

The elderly in the family help take care of the children, send them to school, and the family can save 2000 Hong Kong dollars a month;

Since getting married, Alei's family has saved 10 Hong Kong dollars, originally planning to change to a bigger house, so the family can live in a small house of 400 square feet;

But the housing prices in the past few years have risen so high that Aleigh is not willing to make a move;

After all, changing a 400-square-foot house to a 600-square-foot house, even if it is a mid-to-low-end residence, is expected to cost about 15 Hong Kong dollars more;
If loan, need more!

Therefore, as an ordinary citizen, it is difficult to make such a decision!

More than a year ago, Hang Lung Bank coincided with the launch of high-interest deposits, with an annual interest rate of up to 7%, which is 2 points higher than other banks;

Aleigh chose to save for a fixed term without hesitation, and the deposit was for a two-year fixed term.

Earn some interest, this is the only means of investment for ordinary people!
But the one who suffered a thousand dollars has now encountered a bank run, and it is the bank where he saved;

After Ah Lei heard the news, he immediately asked for leave from the factory and came to Hang Lung Bank overnight to queue;

This row is 2 days and [-] night;

However, it's finally my turn!

After a while, A Lei's wife, A Hong, found him with some snacks;

Although heartbroken and haggard, Ah Hong became determined again when she thought that the 10 deposit might be gone.

"Aleigh, eat something!"

"Don't eat, didn't you see it's my turn soon!"

Seeing that there were still seven or eight people in front of the team, Ah Hong suddenly became happy.

"Then I'll wait until you finish taking it!"

Aleigh nodded absently, looking straight ahead of the team;

At this time, if someone dares to jump in line, I can fight him desperately!
After a while, it was finally Aleigh's turn;
A Lei couldn't wait to sit on the seat, handed over the deposit slip, and said, "I want to withdraw all the money in it!"

The salesperson squeezed out a smile helplessly, this was the most common sentence I heard these days.

The salesperson had no choice but to slow down and delay the time according to the instructions above;
A Lei didn't dare to get angry, what if he didn't get it for himself, besides, now that he is sitting here, he can always get it.

"Mr. Lei, yours is a two-year term, and it will expire in three months! If you cancel it now, you will lose 14500 Hong Kong dollars, what a pity!"

"It's okay, I want to remove them all, I'm in a hurry!"

In fact, Ah Lei was so heartbroken that he couldn't breathe, it was close to 1.5 Hong Kong dollars!

This is my 8 months salary!
"If you need money urgently, you can borrow from relatives and friends first! Don't worry, we have sufficient savings here, and everyone is listening to rumors from outside."

"Miss, please give it to me quickly! My father is still lying in the hospital waiting for help."

The salesperson can't help it, and besides, the goal has been achieved, everyone wasting some time, it can be regarded as giving the company some time!

"Okay! I'll check it out for you right away, just wait a moment!"

Ten minutes later, Ah Lei finally took a deposit of 10 Hong Kong dollars, and happily walked to the door!

"Ah Hong, I got the money! Great!"

"That's great!"

The couple almost hugged each other and wept, tears of happiness!

Suddenly, the two heard a loud voice, shouting from a loudspeaker;
"Dear citizens! I have good news for you. Hang Lung Bank has been fully acquired by Galaxy Financial Group. Galaxy Financial Group has injected [-] million Hong Kong dollars into Hang Lung Bank to deal with the current situation. Galaxy Financial Group is an industry owned by Mr. Lin Rongheng. Everyone respects Lin Rongheng Sir, you are familiar with it! Galaxy Financial Group promises that the responsibility of Hang Lung Bank is its own responsibility. In short, you don’t have to worry about not being able to withdraw your deposit! Now, the cash transport vehicle is already on the way and will arrive here soon.”

Thunder on the ground!

The people in line looked at the source of the voice, which was a group of Hang Lung Bank's management;
Someone couldn't wait to ask: "Mr. Lin Rongheng's Galaxy Financial Group bought Hang Lung Bank?"

The management picked up the loudspeaker and said loudly: "Yes! Mr. Lin Rongheng has stated that he will provide unlimited funds to Hang Lung Bank from today until this incident is resolved. Citizens, if you have fixed deposits, I hope you can make a prudent decision, because One of your decisions is likely to cause your own interest loss."

Hearing Lin Rongheng, many citizens felt relieved. This tycoon has been involved in large projects worth hundreds of millions of Hong Kong dollars at random over the years, and the comprehensive strength of his subsidiaries even surpassed HSBC.

"My interest!" Ah Lei yelled loudly, and then a big man burst into tears.

Ah Hong was also stunned at the side, and then sobbed.

A group of people queuing looked at the two couples one after another, and discussed back and forth.

"What's going on? Isn't this a good thing?"

"What's the matter! What these couple are holding is just withdrawn money. It must be a fixed-term deposit, and it is a fixed-term deposit that has just expired. There is no interest if the fixed-term deposit is withdrawn in advance!"

"Ah! I don't want to line up anymore, I don't want to withdraw money!"

"Look and talk, I'll leave when the cash truck arrives!"

The incident quickly subsided.

Originally, the run on Hang Lung Bank led to runs on other banks with poor reputations. The Hong Kong government was ready to take action. After all, the Hong Kong government reacted too slowly to the run on the bank last time, which was criticized by Hong Kong citizens.

Now someone has taken over Hang Lung Bank, and it is a rich man, and the Hong Kong government is happy to see this turmoil settled.

HSBC.

Shen Bi said to his assistant: "This man has a lot of ambition! His industries have spread across industry, technology, finance, real estate, etc., and the scale has surpassed HSBC Bank."

The assistant said: "In terms of finance, it will be difficult for Galaxy Financial Group to get out of Hong Kong!"

Shen Bi shook his head and said: "As far as I know, the investment bank (securities) under the Galaxy Financial Group has made huge profits from overseas investment in recent years. Commercial banks may not be able to develop hugely, but their investment banks must be very powerful , because I know Lin Rongheng well, he has first-class investment ability”

The assistant couldn't help but get serious, his own BOSS rarely admired a person so much.

Lin Rongheng is still a director of HSBC Bank at this time, but after owning his own bank, he is obviously ready to resign.

(End of this chapter)