109 Hutchison Takeover(4)
At the Miramar Hotel, in the presidential suite on the top floor, two British ghosts held an intimate meeting.
The reason for the privacy is because these two people have distinguished status, one is Qi Dezun, the chairman of Hutchison, one of the four major ocean banks today, and the other is the future Taipan of HSBC, Hong Kong's "quasi-central bank".
Under normal circumstances, the two naturally do not need to be so mysterious when they meet, but now the Hutchison Group is in the most dangerous moment in history, the company's capital chain is exhausted, the debt is more than one billion Hong Kong dollars, it is being called on by dozens of banks, and HSBC is facing a high-level change, the meeting of the two will cause countless reveries, as well as the violent fluctuations of the entire Hong Kong stock market.
"Mr. Shen Bi, congratulations on becoming the chairman of HSBC." After Qi Dezun saw Shen Bi, he shook hands with a smile.
"Thank you." Shen Bi said lightly, the icing on the cake, he didn't care at all.
"You may be seated." Qi Dezun politely signaled, although he is very arrogant, but he is not a fool, now he is begging HSBC, naturally very polite.
"The scenery here is very good, I didn't expect Kowloon to have such a sea view." As an Englishman, it's instinct to talk about scenery and weather when chatting, and it's also an adaptation before communicating.
"Yes, Kowloon will definitely become a new commercial center in Hong Kong in the future, and Hutchison has a lot of land in Kowloon, and when it is developed in the future, I still hope to cooperate with HSBC." Qi Dezun said with a smile.
"The future is too far away, let's discuss it now." Shen Bi looked at Qi Dezun and said.
"Mr. Shen Bi, what do you think of yesterday's letter incident?" Qi Dezun went straight to the topic.
"It's very troublesome, I lost at least 2-3 billion, and the entire market value of Hutchison Group is now less than 500 million Hong Kong dollars, if it was an ordinary company, it would have collapsed long ago." Shen Bi said.
"Mr. Shen Bi, Hutchison is not an ordinary company, although the stock price fell a lot at the opening yesterday, but in the afternoon, the stock price rose a little, although it is not as good as the previous market value, but it is still stable, which shows that there are still many people who believe in Hutchison." Qi Dezun said with a smile.
"It's a little strange, but the stock price of Hutchison shouldn't have anything to do with me, right?" Shen Bi said.
"It doesn't matter, I asked Mr. Shen Bi to come out, I hope Mr. Shen Bi can do a favor." Qi Dezun said: "I want to take the port project in Indonesia, although this port has encountered a lot of problems at present, but in any case, this is a very high-quality natural port, any consortium will take over, will get huge profits." ”
"Isn't the Indonesian government trying to take back the port? How else do you sell? Shen Bi frowned and asked.
"It's not a problem, I will find a way to delay the Indonesian government for a few more months, as long as this port changes hands, then the Indonesian government's previous reasons for wanting to take it back will no longer be valid." Qi Dezun said.
"I don't know much about Indonesian law, but under normal logic, there will be a lot of trouble with this method." Shen Bi said.
"Yes, but as long as the consortium bought has a deep background and can continue to build the port, as long as it communicates with the Indonesian government, it shouldn't be a problem." Qi Dezun said.
"Selling to internationally powerful European and American consortia is indeed a method, but even if these people take over, you will not be able to get back the cost of investment." Shen Bi nodded and said.
"It's good to get some of it back." Qi Dezun said that the Hutchison capital chain has long been about to collapse, and now it can only maintain the most basic operation of the company, how can there be spare energy to develop a large overseas port, although Richard asked him to sell a large number of Hutchison assets He was very dissatisfied, but how to deal with this terminal Their views are still unified.
"I know some of the big port chains in Europe, and I'll get back to you when I ask." Shen Bi thought about it and said, although he doesn't like Qi Dezun, he doesn't have a grudge, this kind of help is nothing, one is to reduce the risk of Hutchison, which is also beneficial to HSBC, and the other can also profit from it.
"Thank you, Mr. Shen Bi." Qi Dezun said with a smile: "There is another thing, the land price in Hong Kong has risen in recent months, and I estimate that it will slowly return to normal in the next one or two years, so I want to apply for another HK$100 million loan from HSBC." ”
"100 million?" Shen Bi asked: "What is the collateral, the current Hutchison, there should be no unsecured assets, right?" ”
"No, but as long as 100 million funds are obtained, many projects can be carried out, and when the project is over, the funds that were trapped before will flow, and the capital chain of Hutchison will slowly return to normal." Qi Dezun said.
"I can't help you without enough collateral, HSBC also has to consider risks, even if I become a future Taipan, I can't take such a big risk." Shen Bi shook his head and refused.
What Qi Dezun said actually has some truth, but the problem is that Hutchison owed too much debt before, and the collateral may have been undervalued.
In this case, any bank wants to stay away from Hutchison, and who would dare to throw money into the water again?
"Mr. Shen Bi, the current situation of Hutchison, you also know very well, as long as the land price in Hong Kong doubles, then all the problems will be solved, I believe that in another 3 years, the land price will definitely double, what we need is a sum of money to tide over this period of time." Qi Dezun said.
"Double in 3 years? Did Governor MacLehose tell you? Shen Bi said with a chuckle.
"This is my personal experience, and I think there should be many people who judge the same way as me, it's just a matter of time." Qi Dezun said confidently: "I am willing to pay the highest interest on this loan from HSBC. ”
"I don't want to lose my principal because I want to earn interest." Shen Bi still shook his head resolutely and said: "Even if the economic situation is a little better now, I will not take any more risks, Hutchison already owes HSBC 500 million Hong Kong dollars, not to mention that so many branches under your Hutchison also owe hundreds of millions, Qi Dezun, come to meet today, it should be you to give me a message of when I can repay." Shen Bi said.
It is rumored that Hutchison's debt is almost 1.4-1.5 billion Hong Kong dollars, but this is only the debt of "Hutchison", in fact, a large number of subsidiaries under Hutchison are also heavily indebted, and the amount of debt of these huge subsidiaries is not less than that of the parent company Hutchison, which is also a headache for many banks
"It is because HSBC also has so many debts that it should be more important to consider recovering these funds, if HSBC is willing to help with this, when Hutchison can repay the debt, I will definitely be the first to choose HSBC." Qi Dezun said with a smile.
"What? If I don't borrow it, you're not ready to pay it back? Shen Bi said coldly.
"No, I didn't mean that, it's just that Hutchison has indeed reached an important moment now, and with the funds, you can get through it, which is good for everyone." Qi Dezun shook his head and said.
"As long as any company has money, what problem can't get through? But every company has its own risk control, HSBC has HSBC principles, the original Hutchison is because there is no such risk control measures, which led to today's situation, Qi Dezun, you can ask other banks, or let the shareholders' meeting raise funds, I also hope that Hutchison can successfully get out of this situation. Shen Bi said lightly.
(End of chapter)