Started from Hong Kong Island

Chapter 443 441 [Advance Preparation]

Established in 1964, Union Bank of Hong Kong is a Chinese public bank and a small to medium-sized commercial bank among the many banks in Hong Kong.

The shock of Overseas Trust Bank in 85 affected Union Bank. Its highest share price was 84 yuan in 6, but it fell to 86 yuan in January 1, which was lower than the initial listing face value of 1.32 yuan.

存款由84年底的21亿元锐减至7亿元，盈利更是从1.02亿元降到180万元。

In early 86, Youlian Bank set aside 6.12 million yuan for bad debts. At that time, Youlian Bank had negative assets, a large amount of deposits were lost, loans could not be recovered as scheduled, and working capital was exhausted. Its chairman Wen Rencai claimed to be ill and lived in the United States. Six directors resigned one after another. Although the vice chairman was in charge of the work, he had no power to make decisions, so the management was extremely chaotic.

It was taken over by the Hong Kong government at the end of March 86. However, Union Bank was not as seriously damaged as Overseas Trust Bank and still had some ability to repay its debts. It was just facing operational difficulties and poor management.

The Hong Kong government used the foreign exchange fund four times to allow United Bank to restructure its debts, but wanted to sell it just three months later.

After fierce competition, Changxin Investment Co., Ltd., a subsidiary of Changxin Group, obtained the operating rights of Youlian Bank.

In mid-to-late June 86, Li Wendi ordered Changxin Investment Company to inject RMB 6 million into Youlian Bank to restore its net asset value to positive. In early July, he officially took over Youlian Bank. In October, he acquired 6800 million shares of Youlian Bank and became the largest shareholder of Youlian Bank, holding 7% of the shares.

At the same time, Union Bank spent a huge amount of money to acquire the Union Bank Building in Tsim Sha Tsui to increase the bank's assets and enhance its ability to resist risks.

Changxin Group Office

"Boss, 90% of Youlian Bank's loans have been recovered, and deposits have increased to 9.6 million yuan, reaching 46% of the peak period," Bai Hui reported.

"The remaining 10% of the loans must be recovered as soon as possible. The current new bank loan projects must be tightened, external loans must be reduced, the scope of business must be narrowed, and the amount of bank deposits must be guaranteed." Li Wendi gave the order in a serious tone.

Bai Hui frowned slightly and asked, "Boss, do you suspect that a new economic crisis is coming?"

"Yes! The economies of many countries are not doing well, and the hurricane will soon blow to us. Banks are the center of the hurricane, so we must be prepared in advance." Li Wendi nodded.

"But in order to attract deposits from citizens, Youlian Bank promised a relatively high interest rate in the early stages. If the loans are recalled now, our year-end profit report will be ugly, or even result in a loss," Bai Hui said worriedly.

Li Wendi thought for a moment and said, "There are so many companies under the group, we can lend money to them, but the interest rate cannot be too high. This way we can protect the interests of the bank and also allow the company to have room for profit."

"Okay! Then I will go and discuss it with Director Zhang, Director Gao, and Director Wang in person." Bai Hui naturally knew the benefits of using chicken feathers as a token of authority.

"If they have any questions, you can tell them that all the loan funds can be invested in real estate and industry in the mainland," said Li Wendi.

"Thank you, boss!" Bai Hui knew that this was the boss's good intention to protect her. "The group has sold nearly 7% of its investment in stock market securities, and the remaining 3% is also being sold gradually. It is expected that it will be sold out before September."

"There is no rush for the remaining 3%. We can take our time. It is best not to cause others to follow suit. If it causes a big disaster, the reputation of the group will be damaged." Li Wendi did not want the crisis to break out so early. Although he was unable to resist the trend of the world, he did not want the whole family to be destroyed. "Yes! At present, the investment department has recovered 174 billion yuan, and 100 billion yuan has been converted into US dollars, Canadian dollars, and Australian dollars. We are ready to buy the bottom of these three countries after the crisis breaks out." Bai Hui said.

"You should pay attention to collecting information. Australia mainly collects information on the energy and wine industries, Canada mainly collects information on the energy industry, and the United States mainly collects information on commercial buildings, resort hotels, and the technology industry in the New York business district." Li Wendi emphasized these three countries.

As for the United Kingdom, Li Wendi still felt that there was no need to go too deep into it. After all, Li Jiacheng had suffered such a huge loss in his previous life. At most, he planned to acquire one or two deep-water docks as radiation projects for his power.

Li Wendi has acquired a 52% stake in Canada's Husky Energy, investing 32 billion yuan. At the same time, he used the power of the Canadian Commercial Bank to acquire a 43% stake in another major shareholder of Husky Energy, spending 26.5 billion yuan.

After acquiring 95% of Husky Energy's shares, Li Wendi began to control the costs of Husky Energy.

He first notified all of Husky's lending banks that if they wanted to continue doing business with Husky, they had to reduce the loan handling fees and interest upon maturity. If they disagreed, he would use his personal funds to pay off all the loans.

As soon as this move was made, all the creditor banks agreed to Li Wendi’s request within 24 hours.

Li Wendi is now looking for a new management team. One purpose is to further control the company, and the other is to save costs by investing funds in equipment upgrades and reducing refining costs.

However, despite this, Husky Energy's losses still amount to 12.5 billion yuan a year.

Li Wendi was also a little troubled by this, so he wanted to further reduce costs and minimize losses.

As time goes by, Liu Luanxiong and Zhang Yan are still happily playing the "sniper tactics" and making cash in the stock market.

Such behavior has made the major shareholders of listed companies panic. No one wants to run into these two people.
Liu Luanxiong is much crazier than Zhang Yan. In just one and a half years, the Aimi Group raised more than 14 billion yuan in the stock market, most of which was used to acquire properties, and a small part was secretly used in sniper tactics.

According to Li Wendi's investigation, these two "snipers" have targeted 86 listed companies since March 3, making a profit of nearly 17 billion yuan, with each receiving an average of 10 million yuan.

In fact, nearly half of these funds went into the pocket of Cheung Kong Holdings Group. Zhang Yan and Liu Luanxiong acquired many properties under Cheung Kong Holdings Group, including two small commercial buildings in Central.

Today, the Cheung Hsin Group only has three small and medium-sized commercial buildings in Central. The remaining small commercial buildings in Central were sold in the first half of 3, with a capital recovery of nearly 87 billion yuan.

Most newsprints said that this was a major downsizing of the Cheung Kong Group, while a press conference held by the Cheung Kong Group said that this was the group's strategy. Most of the funds will be invested in Hong Kong's industries, such as electronics, and a small portion will be invested overseas to increase the group's ability to resist risks.

Of course, this caused a bad reputation for the Cheung Kong Group. After all, many British companies began to relocate their registered places and transferred their assets overseas as much as possible. So some people thought that this was also a precursor to the relocation of the Cheung Kong Group's registered place, and that the Cheung Kong Group was not so optimistic about the future of Hong Kong.

Li Wendi responded by having the group announce the properties it owns in Hong Kong, with more than 700 square feet of rental space in Central alone.
After hearing these explanations, the rumors died down a little.

(End of this chapter)