Hong Kong 1980: The Savage Era

Chapter 59 [Sorting out the Paramount]

Bai Jinyan was able to become the director of a securities company at such a young age, so she was certainly not a stupid person. Xiao Yuanrang's words were unclear, and although she guessed that the identity behind Luo Qihong was not simple, it was still difficult to confirm. So she pretended to be enthusiastic and tried to get close to Xiao Yuanrang, hoping to get some useful information.

Xiao Yuanrang didn't want to take advantage of anyone. Bai Jinyan was a well-known thorny rose in Sun Hung Kai Securities. He also wanted to use the relationship between Bai Jinyan and Luo Qihong to get some business, because he felt that Luo Qihong was not an ordinary person.

"Luo Sheng acquired a listed company and just invested 1 million in the stock market." Xiao Yuanrang laughed, but his eyes were fixed on the expression on Bai Jinyan's face.

Bai Jinyan was just stunned for a moment, then he returned to normal in an instant and said, "Ah Hong has always been very capable, so it's not surprising that he acquired a listed company."

Xiao Yuanrang could see that Bai Jinyan and Luo Qihong did not have such a good relationship, and he felt relieved immediately. If the two were too familiar with each other, he might lose Luo Qihong as a client.

"Okay! I won't chat with you anymore. I have some work to do."

Looking at Xiao Yuanrang's leaving back, the smile on Bai Jinyan's face disappeared and his expression became gloomy. This matter needs to be done slowly and cannot be rushed.

The headquarters of Paramount Restaurant Company has 54 employees, divided into five departments: Administration Department, Finance Department, Property Department, Catering Department and Development Department. The largest number of employees is in the Catering Department, with 5 people, accounting for 15% of the headquarters' total number of employees, nearly 28%. The smallest number of employees is in the Finance Department, with only 3 people. The idlest is the Development Department, who work from work to work and wait until they get off work.

Luo Qihong did not intend to fire anyone, except those disobedient employees who thought Xu Haizhi could make a comeback.

So, Luo Qihong convened a meeting of managers from five departments.

Luo Qihong sat in the first seat and looked around at the five managers. "You all know the company's situation, so I won't waste any more words. The most important thing at the moment is to solve the company's debt problem. The board of directors has passed a resolution to sell assets to repay debts, but the company's properties all have mortgage agreements, except for the land in the New Territories. Do you have any good suggestions?"

The five people looked at each other and no one spoke first.

Seeing this, Luo Qihong could only point out, "Manager Su (Su Qishan), does the development department you are in charge of have any channels to sell these lands?"

Su Qishan, who had a square face, hesitated for a moment. "Most of the land in the New Territories owned by the company is near the edge of the new town planning. Many real estate developers are not interested in these lands. At that time, the company's plan was to reserve these lands."

Luo Qihong interrupted Su Qishan's answer and said, "Just tell me whether you have it or not. There's no need to talk about so many past events."

Su Qishan shook his head and said, "The Development Department has no channels to sell the land."

"I know that you are all the former chairman Mr. Xu Haizhi's people. It's not that I can't find someone to replace you, but I don't want to make a big fuss. Here, the rules are very simple. Those who are capable will go up, and those who are not capable will go down." Luo Qihong began to attack. "So, if you can't handle the work at hand, then I can only ask for someone else."

Paramount is not a big company. It is a small company listed on the stock market. Changing the manager can master the work and management of the department in a short time.

Hearing this, their minds became active. They were not fools. Luo Qihong held great power and it would only take him a word to fire them.

Those who claim to instigate all employees to resign are all liars. Firstly, they do not have such great influence. Secondly, the employees have families and households. Would they really get so carried away?
There is only one way left for them: to submit to Luo Qihong and do things according to Luo Qihong's rules.

"Boss, I can give it a try and sell the land in the New Territories, but the price may be a little lower and there will be a loss." Su Qishan thought for a moment and decided to surrender quickly.

"The maximum loss is 15%, which is 15% of the current market price." Luo Qihong has calculated that the current land price has increased by about 11% compared to when he bought it. If he sells it at 85% of the current market price, he will still lose 6.5%.

This figure is acceptable. If all the land is sold, more than 1 million yuan can be recovered and 27% of the debt can be cleared. "Yes, I will try my best to sell it!" Su Qishan said.

Luo Qihong glanced at everyone and said, "No, I'll give you a week to sell the first piece of land, otherwise I will replace you. The company can't wait for anyone."

"Manager Kang (Kang Wenyi), you are the manager of the catering department. The catering industry has suffered a lot of losses. Do you have any suggestions to save it?" Luo Qihong asked, staring at Kang Wenyi with his fingers crossed on the table.

Kang Wenyi controls the largest department of Paramount, and he believes that the affairs of the department are not something that outsiders can sort out in a short time. However, he is not a fool and will not directly offend others. "Mr. Luo, you don't know that the competition in the catering industry is very fierce. It is not easy to maintain the current turnover. I really have no way to change the status quo."

Luo Qihong sneered. Kang Wenyi was challenging him directly. "Okay, in that case, I will find buyers for those tea restaurants as soon as possible."

If you can't handle it, then just cut off the source of funds. Anyway, Paramount needs funds to repay its debts.

"." Kang Wenyi was a little dumbfounded. He sold it without saying anything. But he quickly adjusted himself. "Mr. Luo, has the sale of the tea restaurant been approved by the board of directors?"

"Manager Kang, don't you know that I already hold 49% of the shares?" Luo Qihong continued, "If you want to stay, do what I say. If you don't want to do it, I won't force you."

Kang Wenyi began to lose his temper. He could not confront the enemy head-on, so he sat in his seat thinking about countermeasures and options.

Luo Qihong no longer paid attention to Kang Wenyi. He would personally take over the sale of the tea restaurant and did not need to pay too much attention to Kang Wenyi's thoughts. He turned around and called on Zhao Kai, the manager of the property department, "Manager Zhao, the property department must do a good job of evaluating its properties. I need to know which properties are high-quality assets, how much loans they have, how much funds they can recover, etc. Give me the report within a week."

Zhao Kai was very sensible. "Yes! I will follow up personally and try to submit the report to you within three days."

Luo Qihong called out the names of the Administration Department and the Finance Department in turn and gave them a heads-up to avoid any problems arising in a short period of time.

In the next few days, Luo Qihong kept running around. Since the property of the tea restaurant was still mortgaged to the bank, the buyers took the opportunity to lower the price to a very low level, fluctuating around 8% off. Naturally, he was unwilling to sell it at a low price.

It is still the peak season in the real estate market, so how can there be a 2% loss? However, the bank's mortgage does give buyers a great excuse to lower the price.

Luo Qihong also began to give up gradually, wanting to wait for the funds from the land and stock market to return so as to untie and sell the tea restaurant property.

Monday, September 3
When the stock market opened in the afternoon, the share price of China Motor Bus Company experienced a "surging" phenomenon, with the share price soaring from 18.1 yuan to 22.7 yuan.

The reason was that the second largest shareholder of China Bus Company, Huang Yaonan, sold his 8.35% stake to Athlone, a company newly established by Paliburg Investment Company, at a price of HK$25 per share.

According to Huang Yaonan's selling price, the share price of China Bus will soon rise to 25 yuan. Of course, this is not the end point of the share price, but the starting point.

The Yan Chengkun family, the major shareholder of China Pakistan, held 28% of the shares, while Athlone only held about 20% of the shares, a difference of 8%.

In fact, the Huang family and the Yan Chengkun family originally had a good relationship. Unfortunately, in order to develop the family business, the Huang family cashed out a large number of China-Pakistan stocks, and the Yan Chengkun family took the opportunity to absorb them and became the largest shareholder of China-Pakistan.

Yan Chengkun was a domineering person. With enough capital, he was certainly unwilling to share control of China-Pakistan with the Huang family. As a result, the Huang family began to lose power in the China-Pakistan board of directors, and Yan Chengkun dominated the board of directors, and the contradictions became increasingly serious.

(End of this chapter)