Hong Kong Tycoon: Starting from Delivering Dongfeng Express

Chapter 130 The Angry Radar Dart

"Hundreds of depositors have been gathering at the Hong Kong government building for months, but the government has not given any indication of relenting. Their fate remains uncertain and is a subject of much debate..."

As they listened to the news broadcast on the television, Ye Dongsheng and Yueguang were both drawn in.

"Cousin, they're talking about Hengfeng Bank!"

Ye Dongsheng took out a HK$2000 million loan from Hang Seng Bank to buy a house, which naturally attracted a lot of attention from Moonlight.

Ye Dongsheng sighed: "If the Hong Kong government doesn't take over this time, then these depositors are really in trouble!"

On the television screen, a large group of people were gathered together; some were cursing angrily, some were crying, some looked disappointed, and many more looked bewildered…

These people are disappointed because they have been pleading with the Hong Kong government to take over Hang Seng Bank for some time.

In reality, the best outcome for a bank bankruptcy is government takeover. Because the government has its pride, once it takes over, in order to stabilize the social situation and prevent serious consequences, it will ensure the maximum protection of the bank's customers' rights.

In fact, just a few months earlier, in June 1985, Hong Kong Island Overseas Trust Bank, the third largest bank on Hong Kong Island after HSBC and Hang Seng Bank, declared bankruptcy due to the collapse of the "cheque ship" scam.

The government at the time was concerned that the collapse of the Overseas Trust Bank would shake public and investor confidence in the local banking sector, and ordered the bank to temporarily cease operations. Just one day later, the Hong Kong government announced the use of HK$3 billion from the Exchange Fund to take over the Overseas Trust Bank, and it resumed normal operations on the third day. All the bank's customers had only experienced a false alarm.

Given this precedent, the depositors of Hengfeng Bank naturally hoped that the government would also take over their business, but unfortunately, they did not get their wish.

Ye Dongsheng shook his head. In fact, the Hong Kong government's attitude was evident from the time it took to handle the situation. The Hong Kong government presented a solution the day after the collapse of the overseas trust bank, while the Hong Kong government hadn't responded to Hengfeng Bank's situation even after so long…

"Cousin, why did the Hong Kong government take over the overseas trust bank before, but not Hengfeng Bank this time?" Moonlight asked in confusion.

Two reasons.

First, Hengfeng Bank is not large enough.

Although Hang Fung Bank was considered a mid-to-upper-tier bank in Hong Kong, its size was smaller than that of Overseas Trust Bank, the third largest in Hong Kong. Therefore, its impact from bankruptcy was naturally less significant than that of the latter.

Moonlight suddenly realized: "In other words, not many depositors have suffered losses yet, so the Hong Kong government isn't paying enough attention. If more people are harmed, the Hong Kong government might take over!"

Ye Dongsheng nodded. That's often how it is. When you're big enough to not fail, the government has to clean up your mess. If you're small, you have to accept your bad luck.

He then continued, "Secondly, the timing of Hengfeng Bank's collapse was too unfortunate. Just a few months ago, the Hong Kong government had allocated HK$30 billion to help overseas trust banks plug their holes, and not long after, Hengfeng went bankrupt. If they were to take over Hengfeng Bank again, it would be a difficult situation for them."

Taking over a bank is not a simple matter. It involves sending personnel to manage it, as well as a liquidation team and a commercial investigation department to thoroughly investigate the reasons for the collapse. This requires a lot of manpower, resources, and time.

Having already taken over an overseas trust bank, the Hong Kong government may not have the resources to manage another one like Hengfeng.

Moreover, the government cannot bail out the banking industry without limits every time; otherwise, wouldn't that make those banks act with impunity?

Ye Dongsheng estimates that the series of bank defaults may prompt the Hong Kong government to begin regulating the banking industry.

After listening to Ye Dongsheng's explanation, Moonlight seemed thoughtful, then asked, "Cousin, what about our loan?"

Ye Dongsheng smiled and said, "Let's see what kind of handling this Daoheng Bank will come up with after it takes over. We'll deal with whatever comes our way!"

If the Hong Kong government takes over, then he will naturally repay the loan honestly.

But now it may be other banks that will take over. Capitalists will not take on all the responsibilities like the government, but will act entirely out of self-interest.

If that's the case, then he'll naturally have to resort to any means necessary!
Moonlight thought for a moment, then asked worriedly, "But cousin, isn't our property deed held by the bank? Won't that make things difficult later?"

According to Moonlight's thinking, the bank, holding the property deed, naturally has the advantage. If they can't reach an agreement, they will sell the house, putting them in a very passive position.

Ye Dongsheng patted Yueguang's shoulder reassuringly, "Don't worry, let's talk it over first. Even if it comes to the point where they auction off the house, there are still plenty of loopholes we can exploit!"

Hearing Ye Dongsheng say this, Moonlight smiled with relief. She trusted Ye Dongsheng's words completely!

……

Ye Dongsheng and his companion weren't the only ones watching Hengfeng Bank's news on TV; Lei Dabiao's family was also there, as they had 2000 million in savings!

The family was distressed when they heard that the Hong Kong government had ultimately not taken over Hang Fung Bank.

"Dad, after Daoheng Bank acquires Hengfeng, will they give us the money?"

Radar Dart shook his head and sighed, "Do you think bankers are doing charity work?"

The youngest daughter, Zhaodi, pouted and said, "Half would be fine too!"

The second daughter said to her brother, "I don't need half, I only need 500 million!"

The eldest daughter, with her younger brother by her side, said, "Why are you thinking so much? I'd be content with a million!"

Feifei quickly turned off the TV, put her hands on her hips, and yelled, "Hey, none of you need to study! Lai Di, Zhao Di, go back to your rooms and review your lessons! Dai Di, you go tutor them!"

After the three daughters returned to their room, Feifei asked Lei Dabiao, "Honey, are we really going to lose our money? Maybe Daoheng Bank will actually take pity on us?"

Fatty muttered again, "Even 50 would be great! At least we wouldn't have to squeeze into public housing anymore. We could get a bigger house and each of them could have their own room!"

Radar Dart waved his hand: "Alright, alright, stop dreaming! Let's just pretend we never won the lottery! Our family being safe and sound is a blessing!"

He said that, but how could Radar Dart really let it go in his heart?
Every day on his way to and from get off work, he would circle around the closed Hengfeng Bank, just to see if there were any new developments.

A week later, after get off work, Radar Dart walked toward Hengfeng Bank as usual, but suddenly his eyes widened as he saw that the entrance of Hengfeng Bank was now surrounded by people!

Radar Dart's heart skipped a beat. He quickly grabbed his briefcase and went over, then grabbed a middle-aged man with a beaming face and asked, "Hey, buddy, what's going on?"

"There's hope! Daoheng Bank has taken over Hengfeng Bank and will open tomorrow, promising to protect our deposits!"

Upon hearing this, Radar Dart was overjoyed and kept pushing his way forward in the crowd, wanting to confirm it with his own eyes!
Once you've squeezed to the front, you'll see a notice posted on the wall:
"Starting tomorrow, all business of Hengfeng Bank will be taken over by Daoheng Bank. Our bank promises to protect the legitimate rights and interests of all customers..."

Seeing this, Radar Dart was also excited, and then looked down:
"...

To avoid a bank run, our bank will prioritize redeeming small deposits. Starting tomorrow, customers with deposits under 5 yuan can come to our bank to withdraw cash. Customers with deposits over 5 yuan, please wait patiently; the withdrawal time will be announced separately…

At this moment, the people surrounding them were overjoyed:

"There's hope! We can withdraw money now!"

"Daoheng Bank is truly a bank with a conscience!" Lei Dabiao's joy faded somewhat. Withdrawals were only possible for amounts under 5, with further notice required for amounts over 5? How long would it take for him to receive his 2000 million?
Radar Dart thought for a moment and decided that he should come back tomorrow to find out the truth, after all, it was 2000 million!

Afterwards, Radar Darts walked home with cheerful steps. In any case, this was good news; since he could withdraw the 5, who knows, he might actually get his 2000 million back?

The next morning, Hengfeng Bank reopened as expected, and a long queue had already formed. Lei Dabiao even skipped his shift and took a day off to come to the bank and wait in line.

The bank was bustling with activity, and many customers were already happily leaving with the money they had withdrawn.

When it was Raid Dart's turn in line, the teller smiled and asked, "Sir, how much money would you like to withdraw?"

Radar Dart hurriedly asked, "Miss, I have over 5 in my account, may I ask..."

The teller interrupted, "Sir, today we are only processing withdrawals for customers with amounts under 5. Please wait patiently for further notice."

"No, I really need the money urgently!"

"Excuse me, sir..." The teller smiled and turned him away.

Radar Dart shouted in a hurry, "I've deposited 2000 million, how long do I have to wait!"

This stunned the teller, after all, it was 2000 million!

"Sir, please wait a moment..."

When the teller got up to call for help, Radar Dart breathed a sigh of relief.

A moment later, a young man in a suit and tie, exuding an air of sophistication, approached: "Sir, I am the manager. Please come with me, let's go inside and discuss this in detail!"

In the VIP lounge, Radar Dart sat on the sofa, with a cup of tea on the coffee table beside him.

"Mr. Lei, it has been verified that you have 1960 million yuan in deposits at Hengfeng Bank!"

"I told you I wasn't lying! How long will it take to withdraw my money?"

The manager smiled and said, "Mr. Lei, please understand that Daoheng Bank has just taken over the business of Hengfeng Bank, and at present we can only guarantee withdrawals of less than 5 yuan."

"Please, I really need the money urgently!" Radar Dart said, looking anxious.

The manager said with great difficulty, "Mr. Lei, this is putting us in a very difficult position..."

"My brother is hospitalized with cancer! I'd be so grateful if they could just let me have some of it removed first!"

The manager glanced at Radar Dart and said slowly, "Mr. Lei, if you are truly in trouble, Daoheng Bank is not incapable of making an exception..."

Radar Dart was overjoyed and immediately stood up, shook the manager's hand, and bowed: "Thank you, thank you! Your company is truly a rare conscientious enterprise in Hong Kong!"

The manager smiled and said, "However, Mr. Lei, you also need to consider our difficulties. We have to deal with the mess left by Hengfeng Bank step by step, so if you want to withdraw your money early, there are conditions."

"Hmm? What are the conditions?"

The manager stood up, picked up a document, and handed it to Radar Dart: "Mr. Radar, please take a look at this first."

Radar Dart looked at the document in his hand: "Settlement Agreement?"

He quickly opened it, glanced through it, and frowned as he asked:

"You mean, if I sign this agreement, you'll give me a sum of money to buy out my 1960 million yuan deposit at Hengfeng Bank?"

The manager smiled and said, "That's right, Mr. Lei, you understand perfectly!"

Radar Dart glanced at the manager and realized what was going on. This wasn't some kind of exception; they'd been prepared all along! It seemed that even large depositors like him would receive a similar agreement—they simply didn't want them to actually take their money!

Radar Dart looked conflicted. If he signed the agreement, the 2000 million would really be gone!
However, after thinking about it, he realized that the money was from winning the lottery. Rather than waiting for the 2000 million that he didn't know when he would receive, he might as well exchange it for money now to improve his family's life and allow the whole family to move into a bigger house!
Radar Dart asked the manager, "So how much will you pay me?"

The manager smiled and held up five fingers.

"500 million?" Radar Dart thought to himself that 500 million was not bad, and signing the agreement wasn't a loss.

The manager shook his head.

"Is it only 50?" Radar Dart immediately frowned.

50 is far less than 500 million; at most, it could only buy him a thousand-square-foot mansion. However, thinking of his three daughters still crammed together at home, he felt that he could grit his teeth and accept the agreement.

But the manager still shook his head.

"Hmm? Not exactly? How much do you want to give?" Radar Dart had a bad feeling.

The manager slowly uttered a number: "5!"

Bang!
Radar Darts slammed his fist on the table, splashing tea everywhere, and roared angrily:
"You think you can buy out my 5 million savings for 1960?! Why don't you just rob me? Even getting something for nothing isn't this outrageous! Even vampires would be humbled by you!"

The manager maintained his smile: "Mr. Lei, it was you who wanted to withdraw the money early. We simply offered you a reasonable solution. If you don't want to accept it, you can go home and wait patiently."

"A reasonable solution? You call this reasonable? How can you say something so shameless!"

Radar Dart was trembling with rage. He couldn't believe a bank could be so shameless! So utterly shameless!
The manager wasn't angry at all: "Mr. Lei, 5 is not a small amount. I sincerely advise you to sign this agreement!"

"Sign your mother!"

With a tearing sound, Radar Dart ripped the agreement in his hand in two: "I'd rather die than sign something like this!"

After saying that, Radar Dart slammed the door and left!

Watching Radar Dart's retreating figure, the young manager revealed a mocking smile: "Then you really won't get a single penny even if you wait until you die!"

His uncle is a high-ranking executive at Dao Heng Bank and knows a lot about the inside story. Dao Heng Bank's willingness to accept withdrawals from depositors with amounts under 5 yuan is actually a way to appease most customers, quell public opinion, and gain a good reputation in society.

Having achieved this, most of the restless people have been divided, and the rest can no longer cause any trouble.

As for amounts over 5 yuan, you either have to sign a buyout agreement or you won't get a single penny! Daoheng Bank isn't really doing charity!

After acquiring and integrating Hengfeng Bank, Daoheng Bank will be able to apply for a listing. Raising money from the stock market is the shareholders' real goal!
(End of this chapter)