Hilton Vancouver, Canada.

This is the asset of Cheung Kong Group, which acquired two Hilton hotels in Toronto and Vancouver at a total consideration of HK$600 million. Of course, the two five-star Hilton hotels did not bring much profit to Cheung Kong Group, and the rate of return was only 6%~7%, which was only better than the interest rate.

This is a very low rate of return in the Hong Kong hotel industry and Singapore hotel industry, the return rate of the Hong Kong hotel industry can generally reach 12%, and the return rate of the Singapore hotel industry can also be 10%; The return rate of the hotel industry in Europe and the United States is generally 5~8%.

In the hotel's executive boardroom, Lin Zhichao, Henrik, Zheng Yutong, and Lee Shau-kee, representing the four companies, were reading the bidding documents.

It turned out that Cheung Kong Group, Canadian Imperial Bank of Commerce, New World Development, and Henderson Development were ready to bid for the development rights of 86 hectares of land on the site of the Vancouver World Expo.

The four companies will form the Concorde Expo Development Corporation of Canada, with Cheung Kong Group holding 62% of the shares, New World and Henderson each holding 17% of the shares, and Canadian Imperial Bank of Commerce holding 4% of the shares.

The general content of the tender of Concord Expo Development Company of Canada is:

In the next 15~20 years, the group will spend 12.7 billion Hong Kong dollars to build a giant 'neighborhood complex', the whole plan includes 7,650 residential units, 3 million square feet of commercial space, a 400-room five-star hotel, 21,000 parking spaces, a sheltered marina that can accommodate 650 yachts, an international financial center, a high-tech research center, and a well-equipped park.

This plan will be the largest development program ever seen in Canada!

Of course, Concord Expo Development Company is not without competitors, and its competitors are 'Vancouver Land'.

"The bidding plan is very beautiful, if I were the bidding supervisor, I would not hesitate to submit this bid! Mr. Lin, whose masterpiece is this tender? Henrik said happily.

Lin Zhichao pointed at Zhou Huai'an and said: "It was planned by our Vice President Zhou, and once he wins the bid, he is also the manager of this project." ”

Of course, it is impossible for Zhou Huai'an to stay in Canada and keep an eye on this project, he is the head of real estate development of Cheung Kong Group, and his business is very busy; In particular, Cheung Kong Group is about to formulate the 'four major housing estates' plan, how can Hong Kong be without Zhou Huai'an.

Therefore, the person directly in charge of this project is another senior executive of Cheung Kong Group.

Henrik said with a smile: "I know Vice President Zhou, the main person in charge of real estate planning of Cheung Kong Group. ”

Zhou Huai'an responded with a smile: "Mr. Henrik and our boss have been old friends for many years, and even we have met Mr. Henrik and dealt with each other. ”

"Haha, yes, they're all old friends!"

Next, Henrik said: "We paid 320 million Canadian dollars (about 2.5 billion Hong Kong dollars) for the total price of this bid, and in fact, the Vancouver government can allow only 50 million Canadian dollars for the first installment, and the later payment within 15 years." Therefore, the competition in this bid is - whose plan is better, I believe we are stable! ”

The Concord Expo developed this project, and the Canadian Imperial Bank of Commerce was invited as a financial bank, which can be regarded as further cooperation. So Henrik also ran back and forth for this project.

Of course, Lin Zhichao is a target of Canadian officials, so his influence is the key to this project.

Lin Zhichao said: "In this regard, I believe that the opponent is far less experienced than us, so please rest assured! In the later stage of this project, it will be completed by our people from Cheung Kong Group, and everyone only needs to pay dividends in the future. ”

Everyone laughed, and Zheng Yutong said: "Lin Sheng, this is a global flower, and there are large-scale real estate projects in Japan, the United Kingdom, the United States, and Canada!" ”

When Cheung Kong Group announced its investment in the 'Canary Wharf Group' in the UK, the news reached Hong Kong, and it was already a lot of uproar. Once Lin Zhichao returns to Hong Kong, he is afraid that he will be surrounded by the media.

After all, the overseas investment of 7 billion US dollars is equivalent to the market value of Cheung Kong Group at its peak.

Lin Zhichao said: "There is no way, enterprises always have to seek breakthroughs!" ”

Zheng Yutong and Lee Shau Kee nodded, they are also considering investing overseas and following in the footsteps of Lin Zhichao. Especially Zheng Yutong, the mood of investing in overseas businesses is even more urgent.

Despite this, Zheng Yutong also chose to invest in the mainland.

So it can't be said that they are taking money, everyone has only one idea - eggs can't be put in one basket. Not to mention, everyone who does not want to be a successful world businessman.

After finishing the work, the work is left to the subordinates, and the four of them meet to play golf and have dinner together, which is the boss's job.

After playing golf with Cheng Yutong and Lee Shau Kee for two days in a row, Lin Zhichao continued to work in Canada.

When they came to Husky's headquarters, Ma Shimin and Huo Jianning had already arrived first.

Coupled with Husky President Blair and other high-level executives, everyone sat down in the conference room.

"Canterra Oil's offer is $375 million, and if we take on all of its debt, Husky's assets will double from $2 billion and become the top five oil and gas companies in North America," Blair reported. Of course, Husky's spate of acquisitions has led to a sharp increase in debt and a sharp decline in earnings."

In short, the money earned is basically used to pay bank interest.

But it will only be after 1994 that the real rise and profits will increase significantly.

Lin Zhichao nodded, pondered for a while, and said: "Acquisition is to be acquired, after all, the opportunity is rare." As for the problem of the sharp increase in debt, we will consider it later according to the situation! ”

Either it will be forced until 1994, and of course, in this case, not only will a large amount of crude oil reserves be consumed, but also a large amount of bank interest will be paid all the time.

In any case, Nova Corp still holds a 43% stake, and Lin hopes that after they hand over their shares, Hutchison Whampoa will consider injecting funds.

Blair said, "Okay, then let's move on to negotiations." ”

Lin Zhichao then said: "Jianning, you have to make financial and technical arrangements, and don't let the company fall into default and predicament." ”

Huo Jianning nodded and said, "Okay"

He is now a celebrity of Cheung Kong Group, and he is also the head of financial and technical arrangements for Cheung Kong, Hutchison, and Husky, and he is very busy.

Huo Jianning, as a close minister of Lin Zhichao, also understood Lin Zhichao's thoughts, that is, it didn't matter if Husky's debt was higher, the main thing was to force Nova Corp to hand over its equity.

Otherwise, with the strength of Hutchison Whampoa, it would not be so embarrassed.

Back in Hong Kong, it was already late January.

However, the news about Cheung Kong Group's $7 billion investment in London's Canary Wharf has still become the focus of attention of Hong Kong media and citizens.

Of course, shareholders believe in Lin Zhichao as always, and the share price of Cheung Kong Group has risen by 15% in half a month since the news was officially announced, breaking through the 50 billion Hong Kong dollar mark again.

Lin Zhichao also said in front of the financial channel reporter of his own media "Oriental Daily":

"This $7 billion project is not a pressure in terms of funds, and Cheung Kong Group does not need to transfer funds from Hong Kong to London."

"Cheung Kong Group set up an investment company in London in the early years, specializing in investing in financial products, and now this part of the assets has about 2 billion US dollars. Nowadays, the risk of financial products has increased, so it is a normal business arrangement to move to real estate investment, and there is no need to over-interpret it. ”

"Cheung Kong Group's overseas investments are all long-term investments and do not care about short-term returns. Of course, investing in Japan was a pleasant surprise, with a greater rate of return than in Hong Kong. ”

His remarks quickly dispelled some people's concerns and nervousness, and public opinion calmed down.

Of course, Hong Kong's wealthy are not stupid, and it has become a trend to invest overseas.

Cheung Kong Group.

Tang Zhongyuan came to Lin Zhichao's office, and the two were drinking tea on the sofa.

"My father-in-law is 82 years old, he is still in good spirits, and he is active in the business world, which I admire very much!" Lin Zhichao put down the teacup and said lightly.

The relationship between him and his father-in-law is not a simple relationship between elders and juniors, but a kind of 'comrade-in-arms relationship'. At that time, the two of them worked hard in Hong Kong at about the same time, and they had a lot of contacts along the way, of course, it was Lin Zhichao who supported Tang's family.

Tang Zhongyuan said: "It's always a matter of a small company, although your two wives and brothers have been able to stand alone, and your nephews have also started to work, but I always feel." At the end of the day, he didn't know what to say.

Lin Zhichao said: "But the division of labor between Xianqian and Youqian? ”

Tang Zhongyuan immediately nodded and said: "You still know me best, Xianqian is the eldest son, he helped a lot of enterprises back then, and the African business is thanks to his hard work over there back then. It's just that now, textile and garment are regarded as a sunset industry, and he, as the eldest son, suffers a little. ”

Lin Zhichao said: "Xianqian and Youqian brothers have a harmonious relationship, and my nephews are now in management positions, and my father-in-law is also in good health, so why worry about this!" ”

When Tang Zhongyuan thought about it, it suddenly dawned on him, and now he also attaches importance to the cultivation of his grandchildren. The second generation of the two brothers had a division of labor, but the third generation did not have a division of labor, but mixed. For example, Tang Xianqian's eldest son entered Hong Kong Industrial to work and engaged in real estate development.

Tang Xianqian and Tang Youqian have never divided their family property, but they are just in charge of a business in the Eastern Group.

"Well, as soon as you say that, my heart is cleared up at once."

Lin Zhichao said: "Actually, there is a solution. That is, after the development of the mainland, when it is suitable to invest in the real estate industry, you can let Xianqian Yimai go to the mainland to invest in real estate, and then take charge of the real estate business in the mainland; Youqian is in charge of the Hong Kong real estate business. ”

This model is the model of the Lee Shau Kee family in the previous life.

Moreover, Tang Xianqian often travels to the mainland on business to invest in textile and garment businesses, and is familiar with the mainland.

Tang Zhongyuan said with some excitement: "When is the real estate in the mainland suitable for investment? ”

Lin Zhichao shook his head and said, "I don't know yet, but I believe that after all these years of exploration, the mainland will definitely be completely opened." My father-in-law waited patiently, and I believe that there should be hope in five years. ”

Tang Zhongyuan nodded and said, "Fortunately, I can still wait!" ”

Lin Zhichao said with a smile: "Father-in-law's body, there is no problem with living for another 20 years!" ”

There are too many long-lived rich people in Hong Kong, 90 years old can only be regarded as a barely long life, 95 years old is considered a real long life, and 100 years old is not without (Run Run Shaw).

After talking in detail for a while, Tang Zhongyuan asked, "What is the matter with you inviting me to the office?" ”

Lin Zhichao nodded and said, "Hongkong Land is going to sell two buildings, namely Harcourt Building in Wan Chai and Royal House in Causeway Bay, do you want to negotiate with my father-in-law?" ”

When he heard the news of Hongkong Land's sale, he was not particularly interested, but he remembered his old father-in-law.

Oriental Group has gone downhill in recent years, mainly focusing on the construction of the old factory sites in Discovery Bay and Tsuen Wan, and has lagged behind in the field of real estate development; In addition, textiles and ready-to-wear are declining, so the market capitalization of the Eastern Group is not high.

According to this situation, I am afraid that the top ten chaebols will not be able to squeeze into the list (originally tenth).

Lin Zhichao likes to take care of his father-in-law's family, because in this way, the two wives will be grateful to him in their hearts, and Lin Zhichao can be romantic outside without the slightest problem.

Tang Zhongyuan immediately asked, "Are you optimistic about the prospects of these two buildings?" ”

Lin Zhichao said: "Of course, they are all good rental properties, each of which can actually be used as the core asset of the family, and the commercial real estate project of Oriental Group only has one building in Tsim Sha Tsui and Central, which can just double its strength." If the father-in-law is interested, he can go to Hang Lung Bank to seek a loan at that time. ”

Tang Zhongyuan nodded and said, "Okay, I'll arrange a negotiation immediately!" ”

He was convinced of his son-in-law.

After sending Tang Zhongyuan away, Lin Zhichao returned to his seat and thought about things.

Because he has some 'opinions' on Liu Luanxiong, the trajectory of Liu Luanxiong's life has also changed a lot:

First of all, when Amyco entered North America with fans, it was preempted by Midea, so the fan business may only be half of that of the previous life; Aimei wins in low price, and Midea wins in wide channels.

Secondly, after Aimeigao was listed, the market value was definitely not as high as in the previous life, and it was only a small listed company, although Liu Luanxiong still sniped the company to make a profit, but he could only get involved in small businesses, and missed the Huazhi and China Entertainment, these two companies, which were won by the joint consortium of the Feng family and Wei Li.

In short, although Liu Luanxiong sniped at about ten listed companies before the 87 stock market crash, he only made some money and won a small real estate company, but lost the most valuable China Acquisition and China Entertainment.

Today's Liu Luanxiong, where does he have the funds to buy Xia Yu Mansion and Royal Mansion, so Lin Zhichao heard that Hongkong Land intended to sell it, so he told his father-in-law the news.

If Tang Zhongyuan is acquired, the Tang family will be able to rank among the top ten chaebols in the future. Moreover, the Tang family also has a large number of assets in Africa and overseas, which are not listed assets.

On the eve of the Spring Festival, Cheung Kong Group held a management meeting.

Lin Zhichao sat in the chairman's position, looking at the second-generation management who had successfully handed over, and was very recognized.

Vice Chairman and President Lin Ruihuan, General Leader of all affairs of Cheung Kong Group;

Vice Chairman and Executive Director Michael Brown, the chief steward of Cheung Kong Group;

Zhou Huai'an, Executive Director and Vice President, is responsible for the real estate business of Cheung Kong Group;

Huo Jianning, Executive Director and Vice President, is responsible for the financial and technical arrangements of Cheung Kong Group;

Li Minghui (female), director and vice president, responsible for the marketing department and sales department of Cheung Kong Group;

Other senior executives are also in charge of an important area, including the heads of Changjiang Commercial Real Estate Management, Changjiang Beverage and Food, Changjiang Infrastructure, Poly Construction, and Changjiang Financial Investment.

At the meeting, Lin Zhichao asked: "How is the work of forming a consortium with CITIC Group?" ”

Lin Ruihuan immediately said: "It's ready, everyone attaches more importance to this cooperation!" ”

Lin Zhichao nodded, and the purpose of forming a consortium with CITIC is to bid for the 'development right above the Lantian subway station' that was tendered in April. This is a large-scale housing estate project that can build about 20 residential towers of 30 storeys and above, providing a total of more than 4,000 residential units.

"If this target is voted by us, we will have a huge plan for four major estates in the 90s. They are Kingswood Villa in Tin Shui Wai, Sceneway Garden atop Lam Tin MTR Station, and two other large-scale estate projects are Cha Kwo Ling Laguna City in Hutchison Whampoa and Harbour Plaza in Ap Lei Chau in Hutchison and HK Electric. Therefore, the next large-scale housing estates are our key focus, and of course, other real estate projects should not be reduced. ”

There were happy expressions on everyone's faces, these big projects are not simple.

Cheung Kong Group currently has 20% of its annual supply, accounting for 20% of Hong Kong's property development, and has always been a leader in Hong Kong's real estate industry.

Sun Hung Kai is second, with supply at 18%; Henderson is the third, with a supply of 16%; Changhe Real Estate is the fourth in supply, with 10% supply; Hang Lung ranked fifth in terms of supply, with 8% supply; New World has the sixth largest supply, at less than 5%.

The six major developers, accounting for nearly 80% of Hong Kong's property development, form a super-monopoly group.

Of course, this is the data for property development (residential) in Hong Kong.

In fact, there are thousands of real estate companies in Hong Kong, some of which are 'commercial real estate management', some are 'property speculation', and some are 'real estate investment'.

The Cheung Kong Scheme's four major estates, once implemented, will form a larger monopoly and will increase the supply of housing to 25%.

Therefore, such as Changhe, Hang Lung, and New World, they also want to reduce their share. For example, Hang Lung, which has begun to invest in commercial real estate and reduced real estate development; Not to mention the new world, Lee Kar-shing's Changhe also began to increase the burden because of the acquisition of Wheelock and developed towards diversification.

Only Sun Hung Kai and Henderson have the strength to keep up, and eventually Cheung Kong, Sun Hung Kai and Henderson may monopolize nearly 70% of Hong Kong's residential supply; The remaining real estate developers may have a high degree of monopoly on the remaining 30% share.

As a result, there are very few real estate companies that can open up the development of real estate projects.

At present, Cheung Kong Group's four major housing estate plans have not yet been obtained for the development rights above the Lam Tin MTR station.

Lin Zhichao has negotiated with Hua Yan for the development right of Tin Shui Wai, guaranteeing that Hua Yan will receive a profit of 750 million Hong Kong dollars, and the profit share of Cheung Kong Group will be increased to 75% (50% if it does not exceed) if the average price exceeds 1,750 yuan. This project can provide more than 15,000 residences.

The Laguna City project in Cha Kwo Ling was obtained by Hutchison Whampoa in exchange for the oil depot of Clam Oil in Cha Kwo Ling with the shipyard land on Tsing Yi Island (the shipyard business in the early years). This project can provide more than 8,000 residences.

The Laguna Verrica Peninsula in Ap Lei Chau is also the oil depot of Clam Oil in Ap Lei Chau that Hutchison Whampoa exchanged for the shipyard land on Tsing Yi Island, and the relocation of the Ap Lei Chau Power Plant to Lamma Island by HK Electric. This project can provide around 12,000 residential units.

The four major housing estates are planned to cover a total area of 7.5 million square feet, with a floor area of 30 million square feet, including 40,000 residential buildings, with a total investment of about 180~20 billion Hong Kong dollars.

Of course, the plans of the four major estates have not been made public.

Lin Zhichao's idea is to wait for the development of Lantian subway station to be won, and then wait for next year's real estate trough, and then he will make a high-profile announcement.

The purpose of this is, of course, to make good friends with the mainland government, which means that Lin Zhichao's family is still optimistic about Hong Kong and the mainland. (End of chapter)