Hong Kong 1980: The Savage Era

Chapter 122 [Dividends Change]

"Gentlemen, let us welcome the new member of the board of directors, Mr. Luo Qihong, chairman of the Paramount Restaurant Company. Mr. Luo Qihong has acquired all the shares from the original director Mr. Li Fushu, accounting for 5%." John Madden introduced Luo Qihong with a smile.

"Mr. Luo is really as young as the rumors say. Mr. Luo has had two very good collaborations with Cheung Kong Holdings. The most recent one was the AXA Center Building in Wan Chai." Li Jiacheng looked at Luo Qihong warmly and praised him a few words.

Li Mingze smiled and nodded without saying much, probably because he was embarrassed as a fellow Chinese.

"Gentlemen, let's get started on today's topic." John Madden felt that it was about time. "The Taikoo Shing project in the eastern part of Hong Kong Island is nearing completion. The company has spent 3270 million yuan on this project and estimates that another 4 million yuan will be needed to complete it."

"The company still has 3 million yuan in its account, which is the profit for the first half of this year. How do you think we should deal with this money?"

Since Luo Qihong had just arrived, of course he had to follow the rules and wait for the old directors to speak first.

"Chairman John, I suggest that we distribute the dividends directly. There is not much use keeping this money in the company account." Li Mingze spoke only when he saw that Li Jiacheng had no intention of responding.

"I agree with Lisheng's suggestion." Li Jiacheng echoed. Of course, he had no interest in the 3 million that would result in only a few million going to Hutchison Whampoa.

"I agree too." Luo Qihong said.

Kou Cha, chairman of Jun Yicang Group, also followed Li Jiacheng's footsteps and expressed his agreement.

As a result, the board of directors unanimously passed the resolution on dividend distribution.

In fact, Luo Qihong's purpose of coming here was to expand his social circle and plan for the acquisition of China Gas Company.

Today, Wheelock & Company's main business is still shipping. John Madden believes that ships are assets that can be mobilized at any time. In addition, the current shipping industry is profitable, so he increased his investment in ships.

Previously, the International Building and Federal Building owned by Wheelock & Land were sold under this situation, and the funds recovered have been invested in the large project of purchasing ships.

John Madden not only purchased second-hand ships, but also ordered a large number of new ships in Japan and other countries, with a value of nearly 10 billion yuan. Moreover, the funds recovered from the International and Federal buildings had long been squandered, and he was now in urgent need of a large amount of funds.

Luo Qihong wanted to use the funds from the sale of Paramount to acquire all the shares of China Gas Company held by Wheelock Company, so that he could control China Gas Company.

According to his plan, it would be best if the shareholding could exceed 35%, because the initiative to trigger a full acquisition with 35% equity would be issued in 82.

Tuesday, March 8

All the buildings in the AXA Centre in Wan Chai have been sold out. After deducting the balance to be paid to Cheung Kong Holdings and Kwong Sang Hong, Paramount Holdings has recovered HK$6 million, including HK$8 million in profit, with an average profit of HK$3750 million per floor.

"Boss, I have contacted Zhu Baiqi of Baiqi Real Estate Company. We now have three competitors, two local real estate companies and a speculator from Malaysia. The highest price offered by them is 1.41 million yuan, which is a premium of %." Kang Wenyi reported, his eyes a little vague.

This highest price has exceeded Luo Qihong's expectations. His target price was 1.4 million yuan, but now he might have to offer a higher price.

Luo Qihong sighed secretly and said, "Quote 1.43 million yuan to Baiqi Real Estate Company and see how they react."

如今的百乐门公司账上有资金7千5百万元，若是能利用维记大厦抵押贷款7成，百乐门公司仍然需要支付至少4千3百万元，每月需要支付84万元的利息。

那么，账面资金仅剩下3千2百万元，而世纪大厦项目需要9千5百万元的启动资金，还欠6千3百万元。

Even if the private investment of 6 million yuan is enough, the profit share of Paramount Company will only account for one-third, which is a little different from the expected profit. "Yes!" Kang Wenyi asked hesitantly, "Boss, I heard that you have reached an agreement with Chinese Estates and are ready to sell Paramount Company to Chinese Estates before the end of the year. Many colleagues asked me to ask about the truth of the matter."

Luo Qihong was not surprised. There is no such thing as a wall that is impenetrable. The employees of Paramount Corporation would know about these things sooner or later. He nodded and said, "It's true! Did they react strongly?"

Kang Wenyi couldn't figure out Luo Qihong's mood at the moment, so he said cautiously, "There is some reaction, but not a big one."

"What about you? What do you think?" Luo Qihong asked with a smile.

At present, he still needs to pay attention to the emotions of the employees. If necessary, he can come forward to comfort them.

After careful consideration, Kang Wenyi replied, "I don't think there is anything to worry about. No matter which boss you change, we will still be doing the same job. But boss, you still have to talk to the Chinese Estates Company and ask them not to lay off employees after they take over the company."

"I have discussed this issue with Chinese Estates Holdings and they agreed. I have been too busy recently and forgot to explain it to you clearly. Now that you know, tell all your colleagues and the company can also issue an announcement." Luo Qihong said calmly.

"Okay, I'll do it." Kang Wenyi still seemed hesitant to speak.

Luo Qihong saw it and said, "Manager Kang, if you have anything to say, just say it directly. There's no need to be secretive."

Kang Wenyi organized his words and said, "After the Paramount Company is sold, can the boss bring me to the new company as well?"

Luo Qihong was slightly stunned. "Why do you want to follow me? Your future will be brighter if you stay at Paramount."

Kang Wenyi explained honestly, "Because you have outstanding abilities, vision, and skills, I think you can achieve greater success in the future. I hope I can take this opportunity to stand out, rather than just being a small manager at Paramount."

Luo Qihong smiled and said, "You do have great ambitions. Although I don't have many talented people, I would rather have nothing than something unqualified. Your loyalty and ability must be fully up to standard, otherwise why would I want you."

Kang Wenyi was not embarrassed at all. He knew that Luo Qihong was telling the truth, so he told the plan he had prepared in advance, "Boss, I can help the company acquire Wei Kee Building for 1.45 million yuan as my token of loyalty."

Luo Qihong thought it was very interesting and said with a smile, "Okay, I'll give you a week. I want Zhu Baiqi to sign a contract with Paramount within a week, and the down payment is only 2%, and the remaining 8% must be paid within three months."

"I understand! Don't worry, boss. I will help the company successfully acquire Wei Kee Building." Kang Wenyi said firmly.

"I'll wait for your good news." Luo Qihong smiled slightly. If it doesn't work, he can change to another commercial building in Central. It's just a little more troublesome.

Not long after, Su Qishan entered the office and reported to Luo Qihong the news that "Hua Xia Bank purchased the Murray Road Car Park in Central from the Hong Kong government for 10 billion yuan," with a hint of excitement in his voice.

The signal for land adjustment at this moment is certain and inevitable.

So, Luo Qihong began to think about whether he could overturn the Century Building bidding plan he had come up with a few days ago. After all, he did not take the land adjustment issue into consideration at that time.

Once this signal comes out, it is likely to affect the confidence of major consortiums in the Century Building bid, and the previous plan should be modified.

In fact, Luo Qihong was very worried about the current situation of his company. In addition, the Century Building bidding case was extremely risky, so he came up with the idea of ​​"picking up a bargain".

(End of this chapter)