A century-old wealthy family that rose from Shanghai

On this day, Chan Kwong-leung visited the Hong Kong government and had a long, closed-door talk with Pak Lap-kei.

"Sir Chan, regarding the recent emergence of four 'general associations' in Hong Kong, what is your view as a leader of Hong Kong's industry?"

Soon, as a political figure, you raised a 'sensitive' topic.

Currently, there are four general associations in Hong Kong: the Hong Kong General Chamber of Commerce, the Chinese Manufacturers' Association of Hong Kong, the Federation of Chinese Manufacturers' Associations of Hong Kong, and the Federation of Hong Kong Industries.

Among them, the Chinese Manufacturers' Association of Hong Kong supports the mainland, the Federation of Chinese Manufacturers' Association of Hong Kong supports Taiwan, while the Hong Kong General Chamber of Commerce and the Federation of Hong Kong Industries support the Hong Kong government.

In addition, there is the Kowloon General Chamber of Commerce, which supports Taiwan.

Chen Guangliang no longer holds public office in social organizations; he is now an appointed representative in these chambers of commerce.

Of course, Chen Guangliang did not need to avoid this question, saying, "Essentially, we are all chambers of commerce, mainly serving Hong Kong's industry and commerce."

His stance is very clear, as it always has been.

"Indeed," said Perry with satisfaction. "Our Hong Kong government also supports these chambers of commerce in serving Hong Kong's industry and commerce. Sir Chan is a leader in Hong Kong's industry and has made tremendous contributions to it. I believe he shares this sentiment."

In January 1958, after taking office as Governor of Sing Tao, Birmingham felt great pressure in Hong Kong because his predecessor, Alexander Grantham, was a highly influential governor in Hong Kong.

However, Perry soon discovered that Hong Kong's economy took off as soon as he took office, and the development was too fast, with government revenue also growing rapidly.

In this way, it's as if he won without lifting a finger, although Berliki also did a lot of work.

Chen Guangliang said, "Thank you for your recognition, Your Excellency. I also hope to promote another matter during my visit, namely, to have a corporate-invested undersea tunnel built between Hong Kong Island and Kowloon Island, so as to more closely connect Hong Kong's two major economic zones. If this project is completed, Hong Kong's economy will take off even more."

Upon hearing this, Bai Liji immediately became serious and said, "If it's an investment by a company, then Sir Chen intends to take the lead. However, we all know that companies would never do business at a loss, let alone such a massive project."

Chen Guangliang nodded, readily admitting it, and said, "Of course. We can use 'fees' to help businesses recover costs and make profits. The government can participate in the duration of the fee and the price increase. Ultimately, this will not only make travel more convenient for Hong Kong citizens and boost the economy, but also allow businesses to obtain profits of no less than 10% annual return. I believe this is a win-win solution!"

Such a massive project is impossible for the Hong Kong government to support with its current finances. In 1959, the Hong Kong government's fiscal revenue was less than HK$5 million.

The estimated budget for such a project is between HK$2 million and HK$2.5 million.

The Hong Kong government's fiscal revenue is tied up in many expenditures, making it impossible to invest in such a large project. The 'freshwater project' alone is far more important.

Berkeley nodded and said, “Okay, I will get the Legislative Council to discuss it as soon as possible. If it passes, Sir Chan can take the lead.”

Thank you for your support.

"We should thank Sir Chan more."

Bai Liji could tell that Chen Guangliang had ulterior motives here, since investing in many businesses was better than investing in an undersea tunnel.

Of course, these politicians also understand that in Hong Kong, the Chan Kwong Leung family is "dominant," and the better Hong Kong develops, the more the Chan Kwong Leung family benefits.

The news that Chan Kwong-leung was planning to invest in a tunnel connecting Hong Kong Island and Kowloon sparked widespread discussion among Hong Kong citizens.

"Once this tunnel opens, not only will buses be able to travel between the two places, but private cars and taxis will also be able to, greatly facilitating Hong Kong's transportation. It will be of immeasurable merit to economic development and improving people's livelihoods!"

"As expected of the 'World Shipping King' and 'Leader of Chinese Businessmen,' this large-scale investment is simply unmatched."

"Isn't it all about making money? If it's really built, the toll fees will be substantial. Do you really think they're doing charity?"

"What you're saying is ridiculous. Such a huge investment is beyond the reach of the Hong Kong government. You're asking a private individual to invest for free? What are you thinking? It's an investment project, and as long as the Hong Kong government can limit profits, it's a good thing for Hong Kong and its people!"

Despite the widespread discussion among citizens and the media, Chen Guangliang did not waver in his idea of ​​building the Hung Hom Tunnel in Hong Kong ahead of schedule.

In the conference room of CK Asset Holdings Limited.

Chen Guangliang began by saying, "Given the enormous amount of money involved in the investment in the Hung Hom Tunnel in Hong Kong and the relatively low rate of return, I have decided to make full use of the CK Asset Holdings' listing to raise funds. I also plan to establish CK Infrastructure Holdings to invest specifically in the infrastructure industry. Of course, while the rate of return in the infrastructure industry is not as high as that in real estate, its advantage lies in stable returns and the absence of cyclicality."

Lu Yuantai, General Manager of Poly Construction, said, “Boss, if you want to invest in infrastructure, there’s a tender for the Anderson Tai Ya Quarry this year. It’s a big project, and you’ll need at least HK$1.5 million to win the bid, but the return on investment is very high.”

Chen Guangliang smiled and said, "We want to bid for this project, but we're not determined to win it. The Hung Hom Tunnel is the project we absolutely must invest in, as it involves many aspects."

Cheung Kong Holdings' current assets are already over 1 billion. If Chen Guangliang were to list it, even a portion of its assets would need to be valued at over 1 billion, and then raise over 250 million in funds (for a 2.5% stake).

Investing in the Hung Hom Tunnel will take at least four years, and with bank loans involved, it won't be too much of a burden for CK Asset Holdings.

No one had any further objections. After all, the boss had already explained that this matter was very important, and everyone vaguely understood the crucial connection—the power of the Chen family in Hong Kong.

In Hong Kong, the price of residential properties in urban areas has risen to around HK$50 per square foot, creating a new real estate boom. An 800-square-foot apartment in Causeway Bay costs between HK$4.5 and HK$5.

Regarding land prices: the average price of residential land is HK$190 per square foot, commercial land in Central is HK$1950 per square foot, and industrial land is HK$130 per square foot.

In this situation, the beneficiaries are naturally those owners who hold large amounts of land, including the Chan family. The total value of Cheung Kong Group's 'residential land reserves' alone, namely the thousands of tenement buildings constructed back then, is three to four hundred million Hong Kong dollars; not to mention its commercial land and residential land under construction.

Chen Guangliang's companies, such as Yangtze River Industrial Group and Ping An Bank, also own substantial real estate properties.

This day.

Zhuang Zhujiu found Chen Guangliang, and the two had tea at the Shangri-La Hotel.

"Mr. Chen, I want Times Films to sell its North Point production base and then purchase a commercial site in Central to build a first-class commercial building!"

As expected of someone from a prominent family, Zhuang Zhujiu is exceptionally capable in business.

Rather than a film company, Times Pictures is more accurately described as a real estate company. In Southeast Asia alone, Times Pictures owns nearly 200 properties; in Hong Kong, it owns a 17-story, 30-square-foot office building in Tsim Sha Tsui, a cinema property (which could be redeveloped into an office building), a cinema property in Mong Kok (which could also be redeveloped into an office building), Times Studios in Tseung Kwan O, and numerous other properties throughout Hong Kong.

At this point, the profits from film production at Times Cinema accounted for less than 20% of its total revenue. Upon hearing this, Chen Guangliang asked, "Have you identified any targets for commercial land?"

Zhuang Zhujiu immediately replied, "Yes. There is a commercial site of 1.6 square feet for sale at XX Des Voeux Road Central. The owner is asking for HK$3100 million."

Des Voeux Road Central and Queen's Road Central are the two best commercial streets in Central, both known as 'banking and shopping streets'.

Chen Guangliang nodded and said, "Okay, let's set the price at North Point Studios at 3800 million!"

"Okay, I will complete the transaction as soon as possible. When the time comes, I would appreciate it if Mr. Chen and Poly Construction could provide some guidance on the Times Film Group building."

"It's natural"

In fact, Times Pictures is a business owned by the Chen Guangliang family, who hold a 60% stake (with Ping An Bank also holding shares).

However, Chan Kwong-leung intended to withdraw from the media industry, so he handed over Era Films to Chuang Chu-kau to manage. Gradually, the Hong Kong public also came to believe that Era Films was Chuang Chu-kau's business. It's like how Li Xiaohe was the chairman of TVB in his previous life, and Run Run Shaw was the general manager of TVB.

The difference is that it would be very easy for Chen Guangliang to regain control of Times Pictures.

As for Oriental Daily News, it operated in a similar manner. After Chen Guangliang revitalized it in Hong Kong, he quickly implemented a "professional manager" model, while he himself stepped down as general manager and only held the "nominal" position of chairman.

"By the way, I see that since you'll be managing the entire Times Film Company, there will inevitably be areas you can't oversee, especially in production. Therefore, I think it's appropriate to appoint Raymond Chow as the General Manager of Production. You can keep an eye on things!"

Zhuang Zhujiu said without hesitation, "That's what I think too. Although Zou Wenhuai is young, he has good abilities and is worth entrusting with important responsibilities."

"Okay, let's arrange it like this then!"

In this era, Times Films was undoubtedly the behemoth of YOU-style films. Without the competition from Lok Wan Tho, Run Run Shaw would have struggled to survive after coming to Hong Kong, since what he was doing was already something Times Films had done enough of.

Global Trade has also begun preparations to start construction on a first-class Grade A office building on the Ice House Street property it purchased in Central.

In a short time, the Chan family owned nearly eight properties in Central, each of which was quite valuable.

Time flies, and half a year has passed in the blink of an eye.

On this day, Chen Guangliang's father-in-law Yan Zhiduo invited him to attend the opening ceremony of the "Zhiduo Building" at No. 10 Xuechang Street, where he shopped.

At a time when overseas capital is flocking to Hong Kong to open branches, this first-class office building in Central has been fully leased out.

At the scene, Chen Guangliang was also happy for his father-in-law's family. With such a building in Central, this family can be considered a 'family' in Hong Kong.

Of course, the Yim Chi-to family also owns a property in Sheung Wan, which is also quite valuable and is currently being redeveloped into a first-class office building.

The two properties could be valued at around 100 to 120 billion yuan in the future. Of course, the Yan Zhiduo family also owns some other scattered properties, which are also quite valuable.

Chen Guangliang estimated that at its peak, the value of the trust's properties alone would be around 150 billion.

At the scene, Yan Zhiduo was very happy to interact with the guests. Now his family has also settled down in Hong Kong and has close ties with some local wealthy businessmen.

In the eyes of some local wealthy businessmen, Yan Zhiduo is not only famous because of his son-in-law, but also because he is a descendant of Yan Xinhou and Yan Zijun, making him a member of a powerful family.

After the event, Yan Zhiduo privately told his son-in-law Chen Guangliang, "Guangliang, a significant portion of the construction costs for rebuilding these two valuable properties was financed by loans from Ping An Bank. The stock market has been performing very well recently, and I'm thinking of selling those stocks to repay the construction costs. This way, the trust company can quickly implement its dividend distribution plan."

He has always attached great importance to his eldest son-in-law Chen Guangliang's trust plan proposal, believing it to be the most important tool for family succession.

The trust plan is managed by Ping An Bank, and the trust supervisors include the second son-in-law, Du Weifan, which is very reassuring.

Without much thought, Chen Guangliang said, "Father-in-law, it's not too late to cash out after this year."

"Okay, okay, I'll definitely be right to listen to you."

Only after finishing this matter did Yan Zhiduo truly feel at ease. From now on, 70% of the annual rent will be used for the 'living expenses' of family members, and 30% will be used for further investment, forming a fairly stable trust fund.

at the same time.

The Waterloo Road property project, a collaboration between CK Asset Holdings and Yim Cho-wo, is also enjoying a good sales period.

This project comprises over 800 residential units in four buildings, currently up to the 7th floor (out of a total of 17 floors). The partner company plans to sell the units in four phases over four months.

The first building, comprising 206 residential units, sold out in just two days, generating HK$880 million in revenue.

Yan Zuhe beamed and said to his nephew Chen Wenjie, who had come to support him despite his busy schedule, "This money was really easy to earn! Of course, if it were me, firstly, I wouldn't have the courage to undertake such a big project, and secondly, I wouldn't have the experience and reputation to back it up. So, I really owe you a lot for your help this time, Wenjie."

Chen Wenjie laughed and said, "Uncle, you're too kind! Originally, Cheung Kong didn't plan to develop any new projects, since we already have many projects. It just so happened that you had the funds, so I arranged this project, and it turned out to be a win-win situation!"

Yan Zuhe knew that this was just to give him face. It was true that Cheung Kong had too many projects, but it rarely cooperated with others on real estate projects. He had only heard that its senior executives would occasionally cooperate on a small property project, which was considered a perk for them.

"In short, it made me a lot of money, and your uncle suddenly felt more confident."

This project is expected to earn around 1200 million (after deducting construction costs, interest, taxes, etc.), and he will receive 600 million. His actual principal investment was only 600 million, making this return rate incredibly high.

Chen Wenjie smiled and asked, "Uncle, now that you have the capital, what are your plans for the next step?"

After his experience with stock speculation, Yan Zuhe became more cautious, saying, "The capital required for real estate development is much greater now. With my limited funds, I can only dabble in small-scale projects, but at least I have some capital. As long as I don't incur too much debt, it should be manageable."

In fact, he not only did not lose money in the stock market, but also made a lot of money for the Yan family. He earned a large portion of the construction costs for the two high-quality buildings.

Of course, this is all on the premise that his brother-in-law saved him back then!
Chen Wenjie nodded and said, "Okay! If you have your eye on any projects but lack the funds, you can come to me and I'll arrange cooperation."

"Okay." (End of Chapter)