Thursday, October 29.

In the conference room of the hotel, the eyes of the directors and senior executives looking at Lin Zuhui have changed a little; As the initiator of this meeting, Lin Zuhui enjoyed everyone's admiration.

It turned out that in September, under the suggestion of Lin Zuhui, the hotel issued 10% of new shares and raised 750 million cash flow through rights issues.

Today, this money is equivalent to the development of large hotels.

Through this incident, Lin Zuhui has established a great prestige in the Grand Hotel;

If the chairman of the board is re-elected, Lin Chohui may not lose to Michael Kadoorie.

At this time, Michael Kadoorie could only helplessly watch Lin Zuhui's influence on the board of directors increase, and he now realized what his father said: 'Lin Zuhui is a tiger wolf, and entering the board of directors of the hotel will definitely have a great impact on the Kadoorie family'.

Even, Michael Kadoorie heard some rumors flowing out of Xiangjiang: Lin Zuhui shipped all the securities and futures contracts he invested in before the stock market crash, obtained a large amount of cash flow, and not only repaid his personal debts, but also had surplus; The listed companies under Lin Zuhui have successfully reduced their debts before the stock market crash and have become high-quality enterprises in the eyes of bankers.

This is by no means a good thing for the Kadoorie family, because it means that Lin Zuhui has the strength to privatize the hotel, and the Kadoorie family can only be out of the game. Even, before this board meeting, Lin Zuhui intentionally or unintentionally revealed the meaning of 'not hesitating to privatize'.

Michael Kadoorie spoke a few words, and then threw the topic to Lin Zuhui.

"Vice Chairman Lin, the board meeting is entrusted to you!"

Lin Zuhui nodded, since the shareholders' meeting, he has endured in the hotel, and now it is time to take power.

He didn't want to be a furnishing in the board of directors of a big hotel.

"I convened everyone this time to formulate a big hotel development strategy for the next year!"

Michael Kadoorie's eyes jumped suddenly, and the secret saying is not good!

There was some surprise among the directors and the executives, and some of them also looked at Michael Kadoorie.

Lin Zuhui said straightforwardly: "I have three development strategies, I will talk about them today, and everyone can discuss them freely!" ”

"The first is to redeem the equity of The Peninsula Manila. I've said this before, and I'll do it again today. The reason is simple, the political turmoil in the Philippines is an opportunity, and at this time, we can redeem 50% of the equity of The Peninsula Hotel Manila for less than 50 million Hong Kong dollars. And once the situation in the Philippines calms down, we will only need one to two years to recoup our costs. ”

Lin Zuhui knows that the political situation in the Philippines in 1989 ~ 1991 political situation tends to be stable, although the economy has not developed rapidly, but also stable transition, in 1992, the Philippine economy began to recover.

Before the stock market crash, Lin Zuhui had put forward this opinion, but although the board of directors had intentions, it had not launched specific actions for a long time, which caused Lin Zuhui's dissatisfaction.

One of the directors immediately said, "I agree with Vice Chairman Lim's strategy that The Peninsula Manila can be very profitable as the economic center and largest port of the Philippines once the political environment stabilizes." In today's environment, we can buy back all the shares at the lowest cost, which is a very cost-effective investment. ”

Michael Kadoorie didn't understand this truth, he just deliberately planned to finish it later, in order to reduce Lin Zuhui's influence.

And quite a few directors have echoed this strategy!

Lin Zuhui said: "Then let's start voting, after passing, we will immediately take action!" ”

Soon, this article was unanimously passed, and Lin Zuhui took the opportunity to name a high-level executive, asking him to take full responsibility for this matter and implement a responsibility system.

Lin Zuhui continued: "The second strategy, the impact of this global stock market crash is profound, especially the impact on the US economy will also be great, and we also have to prepare to redeem the equity of The Peninsula Billy Huashan Hotel in Los Angeles and The Peninsula Hotel in New York. ”

These two Peninsula hotels are joint ventures with American companies!

In the past life, together with the Peninsula Hotel in Bangkok, the Kadoorie family spent nearly $1 billion to redeem the remaining stake in the three hotels in 1994.

Everyone looked at each other at this time, because the plan was too big, even with the market after the stock market crash, I am afraid that it would need more than 2 billion Hong Kong dollars, and the Peninsula Hotel's account was only 1.1 billion Hong Kong dollars.

One director said: "It is not yet known how severe the impact of this global stock market crash will be on the US economy. ”

Lin Zuhui said with a smile: "How big the impact is, there are already signs of it. But I think whether it affects or not, we should actively buy the equity of these two hotels, because we now have the funds to drive, and the rest of the funds can be borrowed from banks! As long as we redeem the remaining shares, our annual profit will increase significantly. If we don't take the opportunity to redeem this time, we will pay several times the price in the future. ”

As Lin Zuhui's subordinate and the director of the hotel, Lu Donglai immediately added: "We completed the rights issue to raise funds before the stock market crash, which is a very good innate condition!" ”

A kind of directors nodded one after another, and completed the rights issue before the stock market crash, and obtained 750 million in cash, so that the hotel has a strong competitiveness. The market value of the hotel has fallen by only 30% (the current market value of 6 billion), which is also the most popular blue chip stock in Hong Kong, second only to HSBC, Hongkong Land, Wharf, and Hutchison Whampoa.

At this time, Michael Kadoorie said: "If it can really be negotiated next year, I am afraid that these two investments will saddle the hotel with a debt of 1 billion ~ 1.5 billion." The hotel has always been operating steadily, is it too big a step, we can choose to repurchase the equity one by one! ”

Inadvertently, Michael Kadoorie was recognized by everyone, and of course he wanted to take advantage of this rights issue to buy back the shares of a hotel, after all, with so much cash, he had to find a way out.

Lin Zuhui had already prepared, how could he let Michael interfere with his prestige!

"There is no need to worry about debt, the third development strategy I mentioned can solve this problem!"

Michael was taken aback, could this person still conjure money out of thin air?

You know, the stock market is a bad market now, and no one can respond to the rights issue!

Lin Zuhui didn't let everyone wait for a long time, and said: "Regarding the company's extra debt, I think we can spin off the real estate business of Grand Hotel after the stock market recovers next year, and take out some cash to repay the debt or develop the company!" ”

The so-called spin-off listing is equivalent to a large hotel (listed company) packaging its real estate business, in accordance with the listing regulations, selling a part of the equity to the public, and the parent company can take a sum of cash for development, and there is an additional listed subsidiary.

In the previous life, the Kadoorie family said that they would not spin off the hotel, and in 1988, they would also spin off and reorganize the real estate business.

Everyone's eyes lit up, this method is really good!

Even Michael believes he plans to spin off his hotel and real estate businesses next year.

"Then vote!" Michael Kadoorie said directly, and after saying that, he was the first to raise his hand in support.

Unanimous vote!

Lin Zuhui's three proposals put forward today were all adopted.

After the meeting, Lin Zuhui came to Michael's office.

After sitting down, Michael Kadoorie said: "Lin Sheng, I would like to ask a question, have you ever moved the idea of a comprehensive acquisition of a large hotel?" ”

Lin Zuhui nodded and said, "I really want to!" And my money is stress-free! ”

Michael was shocked in his heart, he believed that what Lin Zuhui said was true!

At this time, the net assets of the hotel are more than 7 billion (asset appreciation, plus rights issue to raise funds and profits, etc.), and the market value is 6 billion.

"Then why don't you launch a full buyout?" Michael Kadoorie said with a restlessness pressed in his heart.

"Quite simply, I'm not good at running a hotel, and I need the Kadoorie family." Lin Zuhui said calmly.

In the final analysis, the hotel has been deeply engraved by the Kadoorie family, and the old aristocracy is not in vain.

Michael Kadoorie asked: "Would you be nervous if we increased our stake?" ”

Lin Zuhui smiled, laughing so arrogantly!

"No, I support you to increase your shares!"

Michael Kadoorie suddenly showed a wry smile and said, "I think you think that our family will not have the funds to increase its holdings for a while, and then when our holdings exceed yours, you will do whatever it takes to launch a comprehensive acquisition. ”

Lin Zuhui is noncommittal or not!

The Kadoorie family really does not have the strength to increase its holdings to 34% in the past year, otherwise it would not have been sniped by Luo Xurui for the second time in his previous life. As for the Kadoorie family daring to initiate a comprehensive acquisition, Lin Zuhui will also accompany him.

When the time comes, it will be a loss for both sides.

"Well, I choose to cooperate, I believe we will be the best partners!"

Michael Kadoorie took the initiative to extend his right hand and truly accepted Lin Zuhui to join the hotel.

He thought that no matter how long the battle line was, he would not be the opponent of this young man, because he was too powerful!

Chen Songqing was also powerful back then, but he couldn't avoid the big plunge!

This is even more powerful than Chen Qingsong, and the key is to predict the big plunge!

Lin Zuhui naturally accepted Michael's friendship, he was a businessman and cared about interests;

And the big hotel can not only bring him benefits, but also bring connections and honor.

After sitting back down, Michael Kadoorie said: "But there is one thing I don't agree with you about, and that is that we at The Peninsula can't be franchised, because it will lower his grade!" ”

Lin Zuhui immediately said: "The Peninsula Hotel can only be high-end self-operated, but I hope that if my family or Cathay Pacific City needs to invest in hotels, the Peninsula Hotels brand can cooperate and authorize!" ”

Michael nodded and said, "That requires the participation of the Peninsula brand from design to management before it can join the Peninsula camp." ”

"No problem!"

In his previous life, there were less than 10 Peninsula hotels in the world, and Lin Zuhui had to change this number.

And, when Cathay Pacific City becomes a large hotel management group in the future, The Peninsula Hotels will be just a member of it.

........

Following.

Lin Zuhui convened the senior management of Chinese Real Estate for a meeting, and the senior management of the senior management had a copy of the information of the listed company 'Fuli International Real Estate Investment Company'.

The company mainly invests in real estate in the United States, but its performance has been sluggish in recent years. Therefore, the share price of Fuli International before the stock market crash was not high, and the market value evaporated by 40% after the stock market crash, and it is currently only 520 million.

Lin Zuhui said: "Now that the Hong Kong government is encouraging corporate acquisitions and mergers and acquisitions in order to save the market, we should not secretly shoot guns." Immediately prepare to acquire Futura International at a premium of 20%~25% price, and still maintain the listed status of Fuli International, and this company will be used as our new era of real estate - investment in the United States real estate industry listed companies (grandson company). ”

Because the highest market value of Futura International before the stock market crash still did not exceed its net assets, there is no need to wait for the end of April next year. Most importantly, Vality International will not be privatized by New Era Real Estate.

Leung added: "Futura International's shares are dispersed, with the current chairman of the board, Wang Bingyi, holding only 10% of the shareholders. We salute first, then soldier, and then buy at a premium, I believe there is no problem. ”

At this time, as a minority shareholder of Futura International, if someone buys at a premium, it is simply welcome.

Chinese Estates is not a full takeover, so it only needs to increase its stake to 34% to announce that it will take over the board of directors of Fidelity International (unlike Grand Hotels, which does not have a strong family management, and Chinese Estates can easily pass the board of directors and shareholders' meetings).

Lin Zuhui said: "Okay, you will first deliver the acquirer to the board of directors of Futura International. ”

"Okay, boss!"

Mr. Leung is a director of three listed companies and is responsible for the securities business of the Group.

Lin Zuhui said to Gao Yi again: "Expand the company's senior staff and talent pool, the company wants to develop a wave, and it is indispensable to join talents." ”

Gao Yi hurriedly said, "Okay! I'll do it quickly! ”

The purpose of acquiring this company is definitely to lay out the real estate industry in the United States, especially the commercial office center in Los Angeles, and its own net asset value is very good, which is completely worth the investment.

Lin Zuhui's real idea is that Fuli International is a Hong Kong-listed company that has been operating in the US real estate industry for many years, and after winning it, it can rely on its overseas real estate development experience and channels to cooperate with the Lin family to invest overseas.

It can also be understood as the beginning of Lin Zuyao's signal to expand his career overseas and lay out the world.

As for why it was a Chinese property acquisition, there are two reasons:

First, as the parent company, New Era Real Estate's business is still the development of real estate projects in Hong Kong.

Second, with Fuli International as a grandson company, the future rights issue to raise funds can allow the Chinese who have a lot of rent to issue shares.

As a result, Lin Zuhui personally only enjoyed about one-eighth of Fuli International's earnings (after the increase in shares), which is equivalent to only about 12% of the shares.

It's an infinite magnification principle!

.......

That night, Lin Zuhui received an invitation, a very big invitation.

When he arrived at the private room of the Regent Hotel, the biggest elders in Hong Kong stood up to greet him.

"Uncle Tong, Fourth Uncle, Li Sheng, Guo Sheng"

Lin Zuhui greeted the heads of the four major families one by one.

"Zu Hui"

"Lin Sheng"

The crowd responded.

It turned out that this meeting was a meeting of several elders to discuss the rescue of the city, so they pulled Lin Zuhui.

Is Lin Zuhui qualified?

Of course it is enough, outside this box, the Chinese-funded real estate tycoon, except for the charter boat king who is sick, there is no elder in Xiangjiang who has surpassed Lin Zuhui. And the charter boat king is still from Ningbo and does not belong to the Guangdong Gang.

Among the top 10 chaebols ranked in 1987, Lin Zuhui squeezed out the Chan Tseng-hei family (Chan Tseng-hee died in 1986) and the Shaw family to become the ninth-ranked chaebol (including three British-owned chaebols).

After everyone sat down, Li Shauji said with a smile: "It is rumored outside that before the stock market crash of Lin Zuhui, you shipped all the blue chips and futures index contracts, and made billions of dollars!" ”

Everyone looked sideways, very curious about this question.

Lin Zuhui said with a smile: "Isn't the fourth uncle? Your Lin Gaoyan is a securities master! ”

Lee Shau Kee responded: "He did remind me, and I followed his analysis. ”

Lin Zuhui said: "Although I made billions of dollars, I just paid off my debts." ”

His answer, the four families believe it very much!

They would never have thought that Lin Zuhui had earned 6 billion (only blue chips and buying futures index contracts, not counting global short selling futures index and foreign exchange)

Zheng Yutong said: "That's pretty powerful! The thunder buried in you, and even the thunder buried in the real estate department of the new era, have all been removed by you! ”

Several companies in the New Era Real Estate Department are listed companies, and the company's debt and capital flow are relatively transparent, and they have made public announcements on reducing their holdings and reducing debts before the stock market crash.

Therefore, after the stock market crash, none of the banks came to collect debts.

While eating, Li Chaoren, as the initiator, said: "The stock market is a guarantee of the Xiangjiang economy, and I think we, as the masterminds of listed companies, have the obligation not to let the stock market continue to be so erosive." So this time I called everyone to save the market. ”

Lin Zuhui thought in his heart, these people probably wouldn't have thought that the current 2200 points are almost the bottom, and the lowest seems to be only 1900 points. It's not so much a bailout as a bottom-up.

Of course, everyone is not a god, whether it is a business elder, a government official, or even an ordinary investor, the bottom of their hearts may be 1500 points. In short, the market is too panicked, and everyone actually has no bottom in their hearts.

Everyone nodded, echoing Li Chaoren's point of view.

If the stock market continues to slump, everyone is indeed worried about the impact on Hong Kong's economy.

Li Chaoren continued: "So I propose that everyone apply to the 'Takeovers and Mergers Committee' to buy back the shares of the Group at a price slightly above the market value. ”

At this time, according to the 'Takeovers and Consolidation' Ordinance, if a major shareholder buys more than 35% of the trigger point of the company, a full acquisition is required, and the purchase price is the highest price in the past six months.

[Lin Zuhui increased his holdings of 45% of the shares of New Era Real Estate in the early stage because the highest price in the previous six months was not a little tempting to retail investors, and others did not sell it to you, so there was no need to fully acquire it. 】

[And if the increase in holdings exceeds the 35% threshold now, it must be acquired at the highest market value in September, which is unaffordable.] 】

[If you want to increase your shareholding, it is also possible to increase your stake to 49% as long as you find the right time. Referring to the later increase in the stake of Mandarin Oriental to 41%, the shareholders naturally refused to sell it when they saw that the net asset value was 6 yuan. In this way, it is only natural that the majority shareholder has increased his shareholding. 】

Everyone once again agreed with Li Chaoren's proposal, which shows its influence!

Lin Zuhui thought that it would be just right, and he increased his holdings of New Era Real Estate to 45% (the current market value is only 7.2 billion), and then increased his holdings of Chinese Real Estate in New Era to 49%.

In the end, everyone handed over the task of negotiating with the 'Takeovers and Mergers Committee' to Li Chaoren and Zheng Yutong.