When Qinghong presided over the opening of Starlight City on Treasure Island, Li Guangyu and Yuan Tianfan came to the Bank of Hong Kong together to attend the bank's emergency meeting, as well as the major shareholders behind the Bank.

Although Li Guangyu and his team tightened their loans to the real estate industry as early as the beginning of 82 and supervised the businesses that had been loaned, they still could not avoid the emergence of some bad debts.

Small bad debts do not have much impact on banks, and some large bad debts are the headaches that banks need to have.

This time, there was a bad debt of 200 million Hong Kong dollars in the Bank of Hong Kong, and the news has not been spread so far, otherwise it will be a huge blow to the reputation of the Bank of Hong Kong.

Although with the strength of these shareholders behind the Bank of Hong Kong, 200 million Hong Kong dollars is not a big amount for them, but the impact on customers is considerable.

In the conference room of the Bank of Hong Kong, Feng Yubin, general manager of the banking department, explained the business situation to everyone present in detail.

The business was loaned out in September 81, the loan period was three years, and it was loaned to Xinfa Real Estate Company, which was controlled by the Wang Guilin family.

Li Guangyu also knows some information about this family, this is a medium-sized family in Xiangjiang, the family assets are about 500 million Hong Kong dollars, and its main business used to be the textile industry, which has been transferred to the real estate industry in recent years.

With the continuous rise of the property market in Xiangjiang, Xinfa Real Estate Company has also continued to expand its scale, and its main business has also shifted to the real estate side, and the property market crisis has dealt them a heavy blow.

Moreover, their textile company did not move to areas with cheaper labor costs in advance, resulting in their business not being very good, and there was not much profit at all.

Now that there is such a big hole in the real estate company, the Wang family is unable to fill this hole, and at present, they can only choose the bankruptcy of the real estate company.

This can put the Xiangjiang Bank into a pit, they took out a loan in 81 years, and Xinfa Real Estate Company paid interest every month, and only returned the principal in September next year, and now the company chose to go bankrupt, and it will be difficult for the bank to recover the loan.

Li Guangyu and the others can't do anything about this, and they can't blame the Feng family for this, the Wang family has been an old customer of Wing Hang Bank, the predecessor of Heung Kong Bank, for decades, and has cooperated with Wing Hang Bank for many years. At that time, all the procedures were reasonable and compliant, and the property market was still hot, so it was impossible not to give him a loan.

Li Guangyu said: "I believe that this problem will not be an example, our major banks may also encounter it in the future, especially at present, the property market is still declining, many real estate companies will not be able to support, our main thing at present is to take this incident as a pilot, to explore a way to effectively reduce the loss of our bank, for us to deal with similar incidents in the future as a reference." ”

This is not only a problem that the Bank of Hong Kong will face, but also the Bank of East Asia and the Bank of East Asia, which also have many long-term customers, and no one is sure whether some of these loans will become bad debts.

In particular, the Bank of East Asia, which has been established for more than half a century, and some families have been working with them for a long time, and it is likely that they will have customers in this wave of real estate failures, and how to reduce losses in this crisis has become a difficult problem for them to solve.

"The main problem at the moment is that these companies lack liquidity, and they are also facing interest expenses on the bank's side, and their assets are also falling due to the fall in the property market, so they can't fill this hole," Zheng said. If we want to solve this problem, I think one is that we will take the next property that they are developing, and the second is that the banks will continue to transfuse blood for them so that they do not go bankrupt, so that we do not lose all our money. ”

For the two opinions proposed by Zheng Yutong, the second one was directly rejected, and now they don't need to continue to transfuse blood to these real estate companies to help them get through this round of crisis.

Since they chose to enter the real estate market in the hope of making a big profit, they must have the consciousness of loss, and finally hope that their bank will give them the backing, don't even think about it. If every big customer in their bank did that, their bank would be brought down.

As for what Zheng Yutong said about them going to take over, this issue still needs to be discussed, and they are obviously unwilling to take over at the current price.

Lee Shau Kee said: "The more serious problem now is that only 80% of the shares of Xinfa Real Estate Company are mortgaged in our bank, and 20% are in the hands of other people. ”

Li Guangyu is not worried about this, even if the market value of Xinfa Real Estate Company has plummeted due to the collapse of the property market, its own property is still worth about 150 million Hong Kong dollars, as for its company, don't think about it, now there are few personnel in this company, and the funds are even more exhausted, and it is not worth anything at all.

If the bank takes the company's property, the 200 million Hong Kong dollar loan will come back in two years.

Li Guangyu said: "The bank will talk to the Wang family first, to see if they choose to transfer the company by themselves, or directly recover it by our bank, they can repay the loan better, but if it doesn't work, we can only take over the company temporarily, and see who the other 20% of the shares are, see what they think." ”

Li Guobao has much more experience in this area, and banks often have to take over his companies because customers cannot repay their loans, but banks generally try to transfer companies as soon as possible, and they themselves will not run these companies for a long time.

However, the banks are different, there are several real estate groups behind them, and if they take over Xinfa Real Estate Company, they don't need to worry about the bank's side to operate, and these shareholders have enough manpower to solve the business problems.

Now the consensus of the major shareholders is that it is impossible to continue the blood transfusion, and if the Wang family is unable to repay the loan, they will take over the Xinfa Real Estate Company, so that the bank will not suffer huge losses.

This year is the most difficult year for the real estate industry in Xiangjiang, after these two years, the real estate market in Xiangjiang will make efforts again, and the next crisis will not come again until the emergence of the Asian financial crisis, and the glory of these ten years is enough for them to develop.

At the meeting, Li Guangyu and others discussed the current property market again, and they will definitely enter the market this year, but they still need to communicate with Li Guangyu in terms of time, and they have time to prepare.

Li Guangyu said: "I expect that the official entry will be at the end of this year, and at that time, it is estimated that the property market has almost reached a trough, and it is more appropriate for us to enter the bottom at that time." In the early days, we can continue to explore the market in other places and consolidate the development there. ”

Since Lee Guang Woo said that he would enter the market at the end of this year, they didn't bother to ask, and they happened to open up the Kuala Lumpur market this year, which is also one of the key markets for their interest group to develop this year.

When Lee visits Southeast Asia this year, Mr. Cheng will also be on his way to visit some of the regions where he is preparing to open his jewelry stores and hotels.

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