Located in Singapore's central business district, the office tower of Fourth Petroleum Singapore is a 35-storey glass-curtained tower with a modern feel. Because the entire building is staffed 24 hours a day, it is known as the "city that never sleeps".

The black Mercedes-Benz business car slowly stopped in front of the gate of the city that never sleeps, and Lu Jing and his assistants got out of the car and slowly walked into the spacious and bright building.

Song Yuqi had already given Lu Jing, He Mengming, and Mo Jingwen a pass to enter and exit. The group took the elevator straight to the top 35th floor.

The destination of Song Yuqi and others was Chen Jiulin's office. They will continue to discuss with Chen Jiulin about capital injection. And Lu Jing and He Mengming's destination is Nanran's office not far from Chen Jiulin's office.

Nan Ran's office is an office vacated by Chen Jiulin after he arrived in Singapore, which is spacious and magnificent. When Lu Jing and He Mengming entered Nan Ran's office after the clerk's briefing, behind the heavy desk, Nan Ran was struggling to look at the English materials.

The Fourth Petroleum Singapore Company exposed such a huge loss, although Hehua helped to avoid the company's collapse in time, but all aspects need to be explained. Didn't you see that Xinhua News Agency sent reporters?

At least one comment from the fourth oil is poorly regulated. In fact, Fourth Oil's regulation of Singapore companies is equal to zero. Chen Jiulin has outstanding performance, who would think of supervising him at that time?

"Mr. Lu, Assistant He, please take a seat." Nan Ran smiled and beckoned Lu Jing and He Mengming to sit down, sat on the hospitality sofa, and said self-deprecatingly: "I'm ashamed, I'm getting more and more struggling to read English materials." ”

Lu Jing smiled and said, "I have a big head when I read English materials." Usually they are asked to translate it and read it again. At any time, foreign companies are popular to use Chinese as a model contract. Then our country will be strong. ”

The popularity of the English language is nothing more than the domination of the two empires of Britain and the United States for nearly two hundred years in modern times. And now the world is still in the shadow of the superpower of the United States.

Nan Ran smiled. After arranging for the clerk to pour the tea, he asked with a smile, "Mr. Lu." Is there anything you have to talk about when you came to meet me today? ”

Lu Jing made an appointment with him at the airport yesterday to meet and talk about it this morning. He naturally wouldn't think that Lu Jing was here to chat with him.

Taking a sip of tea, Lu Jing smiled and said, "Mr. Nan, I want to talk to you about the liquidation of the futures contract on the 18th." ”

Nan Ran was slightly stunned, and said strangely: "Mr. Lu, with Hehua's financial resources, there is no need to close this $60 million contract?" "According to the current international crude oil futures price, Hehua needs to lose 20 million US dollars, which is a huge amount of money.

Lu Jing made a gesture and explained, "Mr. Nan." In September, 21 international organizations believed that oil prices would fall. Oil prices are expected to be around $35 in 2005 and 2006. However, no one is willing to invest in Fourth Oil Singapore.

Why? Because oil prices were going up at that time. No one could have predicted whether Fourth Oil Singapore would survive the fall in oil prices after the investment. Now I expect oil prices to fall, but when it will fall below $43, I don't know.

Therefore, the $60 million contract at $37 per barrel would be too unpredictable if it were to be rolled over. I'd rather close this lot now. ”

The average price of futures contracts held by Fourth Oil Singapore is $43. Note that this is the average price, not the price of each contract. The price of the contract expiring on November 18 is $37. After the nou pan. The price is expected to be around $42.

Are you kidding? Lu Jing clearly knew that oil prices would rise in the future, so how could he still sell oil futures contracts at a low price of $42. Then it will definitely be lost to grandma's family. Closing positions in time is the best option.

Nan Ran pondered for a while, saw Lu Jing insisting, and said, "Okay." Mr. Lu, do what you think. ”

Fourth Oil Singapore is currently accumulating a loss of US$381 million. The paper loss has weakened with the current decline in oil prices and is about $150 million. The total loss amounted to about $531 million.

The net worth of Fourth Oil Singapore is only US$150 million. If there is no $200 million in capital injection from Hehua. Fourth Oil Singapore has gone bankrupt.

At present, Chen Jiulin has reported to him that Hehua will hold 30% of the shares of Fourth Petroleum Singapore.

Naturally, a 30% stake in the Singapore company of the Fourth Petroleum Company is not worth $200 million. Excess funds. Fourth Petroleum Singapore will issue 10% corporate bonds to Hehua for a period of 18 months.

At present, the interest rate of banks for one to three years (inclusive) is 5.76% in the same period. The central bank just adjusted the lending rate on October 29.

The current situation of the Fourth Petroleum Singapore Company. It is understandable for the management to demand absolute control (more than 51% equity). The plan of Hehua's aid hand is indeed a "conscience price". This also confirmed his conjecture that the leader was helping Fourth Petroleum solve the problem.

The original intention of his intention to roll over and move the market was to save a sum of money for Fourth Petroleum Singapore: the loss of futures trading would also destroy Hehua's earnings.

But since Lu Jing insists on closing the position, he will not resolutely oppose it from the perspective of business or career.

persuaded Nan Ran, Lu Jing groaned: "Mr. Nan, let me reveal it in advance." I will not interfere in the personnel and finances of the Fourth Petroleum Singapore Company. Hehua will not hold a long-term stake in Fourth Petroleum Singapore. It is not a good thing for private capital to enter state-owned enterprises. This capital injection is a stopgap measure. ”

Nan Ran smiled: "Mr. Lu, you are really cautious." I think your decision will be very welcome from top to bottom. ”

It is true that Hehua's capital injection plan is a conscientious plan, but when the Fourth Petroleum Singapore Company survives the current catastrophe, Hehua will also get good benefits. When the time comes, there may be people who are red-eyed.

However, as long as we understand the current situation of the Fourth Petroleum Singapore Company, it is impossible for Hehua to be labeled as a carve-up of state-owned assets. Lu Jing was cautious.

Of course, he welcomed Lu Jing's decision very much. Who wants their subsidiaries to be criticized?

Lu Jing smiled and nodded. He's certainly not going to be a good guy. Hehua's investment in Fourth Petroleum Singapore involves political and economic interests. Of course, those who should be avoided should be avoided, and the money that should be earned should also be earned.

For example, a 30% stake in Fourth Oil Singapore can now be acquired for $40 million, but with the increase in domestic jet fuel demand, the performance of Fourth Oil Singapore will get better and better.

At that time, the 40% stake to Fourth Oil will be more than $40 million. $200 million is possible.

After talking about closing the position, Nan Ran chatted with Lu Jing happily. The Wahua Association came forward to repay the urgent debts forced by Mitsui & Co. and Sumitomo Mitsui Bank; For losses in futures, Hehua will inject margin and wait for oil prices to drop before closing the position.

Then, the crisis of Fourth Oil Singapore is now basically resolved. All that's left is to take stock of this failed investment deal. Externally, it is considering suing Jierun Company.

Jierun made it clear that he was fooling Fourth Oil Singapore, and his consulting strategy was all wrong. You can't afford to be unaccountable.

While chatting, Kang Guangxi, assistant to the general manager, hurriedly walked in, "Mr. Nan, Mr. Lu, Mr. Chen invites you to the conference room." The Straits Times revealed the detailed positions of the futures contracts in our hands. ”

He Mengming's eyebrows frowned slightly, if the position was exposed, the Fourth Petroleum Singapore Company would have no secrets in the futures market, and would even be targeted for "hunting".

Nan Ran also understood the severity of the situation, and said, "Okay, let's go over immediately." He stood up and said to Lu Jing: "Mr. Lu, let's go over together." ”

…

…

The Straits Times is an English-language newspaper in Singapore, with a daily circulation of 400,000 copies, making it one of the largest newspapers in Singapore. Lianhe Zaobao, Singapore's largest Chinese newspaper, has a daily circulation of only 200,000 copies.

On the 13th, the Straits Times published an article by Gerald Rigby, a former employee of Fourth Oil Singapore, who was interviewed by reporters.

In the interview, the Australian lashed out at Fourth Oil Singapore, saying that his operations in the oil futures market were exactly what Chen Jiulin intended and that what he had been subjected to was unfair.

The allegation against Fourth Oil Singapore was that in January 2004, the company's position was rapidly increased to 2 million barrels short, in breach of the company's risk management charter. Gerard Rigby said it was carrying out the company's instructions.

At the same time, in order to enhance the persuasiveness, he listed a series of reasons before and after the futures operation, and his own thoughts. Reading between the lines, the portfolio of futures positions currently held by Fourth Petroleum Singapore is fully disclosed.

In the conference room, Lu Jing, He Mengming, Nan Ran, Kang Guangxi, Liu Hexu, Chen Jiulin, Xiao Zhong, Song Yuqi, Yu Le, and Mo Jingwen circulated the newspapers in their hands. There are also Chinese articles translated by clerks.

Liu Hexu, the manager of the second economic and trade room, put the newspaper in his hand on the conference table indignantly, and said in a muffled voice: "Gerard Rigby, this son of a bitch." He was either instructed by Mitsui or Goldman Sachs. ”

Chen Jiulin glanced at his right-hand man with a gloomy face, "Hexu, don't talk angry. Now it's time to discuss how to solve this problem. ”

After Lu Jing asked him to investigate the inside of Fourth Oil Singapore, he suspected that Gerard Rigby, Abdalah Kamar and Goldman Sachs and Mitsui were involved. It's just that this matter is full of fog. There is no evidence yet.

Nan Ran looked at Lu Jing, "Mr. Lu, what do you think?" Chen Jiulin invited Lu Jing and Lu Jing's assistants to come over, and when Hehua was preparing to buy shares, he showed his sincerity. No matter how you deal with it, you really need to get Lu Jing's support.

Lu Jing smiled, and said in a flat voice: "Get off the horse." "After the futures portfolio in the hands of Fourth Petroleum Singapore was exposed, it had a great impact on his follow-up plans. (To be continued......)