Wolf of Xiangjiang

In late March, Wheelock Shipping spent US$3 billion to acquire Singapore's Neptune Group, which became a major news in the shipping market.

2016 was undoubtedly the most depressed year for shipping, and many shipping companies were overwhelmed (South Korea's largest shipping company, Hanjin, filed for bankruptcy starting this year).

On the other hand, Wheelock Shipping, backed by the Wheelock Group, was able to acquire Singapore's largest shipping company, Neptune Group, a century-old shipping company in Singapore, against the trend during the shipping downturn.

In fact, at this time, Wheelock Shipping was already a "comprehensive enterprise" integrating shipping, terminals and logistics. After acquiring Singapore's Neptune Shipping Company, it became the world's third largest shipping company, second only to Denmark's Maersk and France's CMA CGM.

Although the shipping industry will continue to be sluggish for about three years, Lin Zhengjie's point is "persistence is victory"; not only that, he also suggested that South Korea's "Hyundai Merchant Marine" take advantage of the collapse of Hanjin Shipping to divide up routes and market share, and become the sole overlord of South Korea's shipping in the next two to three years.

At this time, among Asian shipping companies, the Lin Zhengjie family has already controlled or allied with the largest shipping companies in Hong Kong, Singapore, and South Korea, forming a shipping alliance that will help subsequent development.

Taifu Development.

Lin Zhengjie called Lin Wendong to his office and asked, "How is the sale of the 'Bai Li Gong Commercial Complex' in Pudong, Shanghai going?"

The 'Paragon Plaza Commercial Complex' in Pudong was acquired by Taifu through bidding in 2004, and was completed and put into operation in 2014. It is located in the only commercial center in Shanghai where four subway lines intersect, so it has a dense flow of people. The total construction area of ​​​​Paragon Plaza is about 36 square meters, of which the office building area is 13 square meters and the shopping mall area is 14 square meters.

Lin Wendong immediately said: "Because there are many buyers participating in the bidding, we are also looking for the buyer with the highest bid. At present, the selling price of 210 billion RMB is guaranteed."

This project should be the fourth largest commercial project of Taifook Development in Shanghai, followed by Taifook Plaza, Taifook Grand Gateway and World Trade Center. (The first two were snatched from Hang Lung Properties, and the latter was snatched from the property of a Japanese real estate tycoon)
The three properties mentioned above are not included in Lin Zhengjie’s sale range.

Lin Zhengjie nodded and said, "In addition, we will also sell the ownership of the Langham Hotel in Lujiazui and only retain the management rights. We can sell our projects in Shanghai from 2016 to 2018 and only retain the 'three major projects' and Port Capital, and retain 'Tyful Plaza (Sanlitun)'."

Taifook Development has no land/site to sell because Lin Zhengjie has planned it all and all "development projects (mainly for sale)" will be completed and sold in 2019.

Lin Wendong replied: "Well, we are selling assets according to your wishes, father. However, we are selling commercial assets worth about 1500 billion. Do we have new investment directions? Or should we distribute partial dividends and retain sufficient cash flow?"

In terms of the general direction, he firmly implemented his father's decisions, which was what everyone thought.

Lin Zhengjie said: "Dividends and sufficient cash flow. In fact, Western properties will also start to cash out from next year. For example, IndCor (industrial real estate), Chelsea Real Estate Group (outlets), and Metropolitan will all cash out in the United States. I believe that investors like Blackstone will definitely be interested. We only need to retain the Amazon shopping center and high-quality office buildings. In Europe, commercial real estate will also be cashed out, retaining the commercial projects in Canary Wharf and the Amazon shopping center, and the rest will be retained on a preferential basis. Singapore does not need to touch Hong Kong, and only retains Taifook Plaza, Taifook Group Center, and IFC. Non-core commercial projects can also be cashed out. These can be cashed out before 2020."

Lin Wendong said reluctantly: "Cashing out so many assets will cause Taifu Group's assets to shrink a lot."

In the eyes of outsiders, the company began to "go downhill" as soon as he took office.

Lin Zhengjie corrected him, "First, cashing out is always better than devaluation; second, we don't need a bigger head; finally, keep enough cash flow, you can choose appropriate opportunities to invest in the future, but remember, with the rise of China, China and the United States will inevitably erupt in economic tit-for-tat, plus the contradictions between Russia and Ukraine, the future global economic situation will be very difficult."

Lin Wendong was shocked and remembered the goal he had set for himself - not to surpass his father, but to protect the empire built by his father.

"I see what you mean!"

Lin Zhengjie nodded in satisfaction. The wealth he left to Lin Wendong was too huge, and it was not easy to keep it. Fortunately, Lin Wendong was 35 years old this year, and he seemed to be a brother to Lin Zhengjie. His father did not look old at all. Then, Lin Zhengjie could at least live until the fourth generation of the family started working, or even until the fourth generation took over.

"You have received a lot of dividends from the company over the years. Anyway, we already have so much wealth. Don't be greedy. Keep more cash flow and invest in hard currencies like gold."

"Well, thank you, Dad."

Since 2011, Taifook's dividends have been divided equally among the three brothers by Lin Zhengjie. Now it is the sixth year, and the three brothers have received a total of nearly 800 billion (that is, Taifook Group's total dividends in six years are more than 1600 billion, just one group company).

Next, the three companies will become independent, so Lin Wendong will definitely receive the highest dividend.

At this time, Lin Wendong already had two sons and one daughter, Lin Wenliang also had a daughter and a son, and Lin Wencheng also had a son.

This means that in the eldest branch of the family alone, Lin Zhengjie has four grandsons and two granddaughters.

For example, Lin Wendong's wife Guo Ziqi is still actively preparing to have another child. The gender of the baby is secondary. The important thing is to be "willing to work hard". Of course, a boy is better, in the words of Lin Zhengjie.

Lin Wenliang really didn't get married until he was 29 years old. He and his wife succeeded in having a baby right after they got married, which made him feel a bit "rushed"; it's commendable that Lin Wenliang at least endured four years without having an affair, which was considered to be fulfilling his original promise. But it's hard to say what the future holds, as his temperament has a little bit of his father's style.

Lin Wencheng was similar to his older brother, with no major problems. He got married at the age of 27 and had a son.

In July, Taifook Group sold Pudong Paragon Plaza to China Life Insurance for RMB 7. After the news came out, the media once again focused on this matter.

There was even a news report by the official media that "Lin Zhengjie is also going to run away", which put Lin Zhengjie's family in the spotlight for a while.

Of course, when Lin Zhengjie was interviewed, he made it clear that "selling assets is just a normal business behavior. The funds will return to Hong Kong and there is no problem of running away."

He even said: "Taifu Development will also consider selling some property assets in Europe and the United States."

Of course, the actions of the Lin Zhengjie family have naturally become a weather vane for the major wealthy people in Hong Kong, and of course there are people who invest against the trend.

For a time, many media believed that Lin Zhengjie felt that his sons had too heavy a burden and might not be able to handle it, so he reduced assets and increased cash flow to run the business.

In any case, Taifook is still taking action, and there are still about 1000 billion in assets that need to be cashed out (500 billion has already been cashed out).

But if Taifook sells the American company IndCor, this amount alone will be more than 150 billion US dollars.

So, where does the 'running' come from? (End of this chapter)