Lin Zhichao came to the general manager's office of Bank of East Asia to prepare for a new round of loans.
At present, all Lin Zhichao's debts are only 1.5 million Hong Kong dollars in loans from Cheung Kong Industries. This loan is due to be repaid in September, and the interest rate is not high, at 13%.
In this era, loan interest and deposit interest are relatively high, with loan interest generally ranging from 15 to 18%, and private loans carrying usurious interest rates of 40%. Therefore, many Chinese-owned banks, while absorbing large amounts of deposits, simply bring loans with them.
To your family.
In this regard, Hong Kong's banking regulations do not prohibit it. Even if it is another thirty years, this phenomenon will still exist. It will not end until all the local banks with Chinese capital have closed down or have almost replaced themselves.
"Mr. Jian, what happened to the loan I submitted?" Lin Zhichao asked after sitting down.
This time he needed a loan of HKD 3 million in total, all with Cheung Kong Holdings as collateral.
Jian Dongpu had already sent someone to inspect Yangtze River Industries, and he supported the loan, but he still asked: "Changjiang Industrial currently has about 650,000 Hong Kong dollars in its books, and its monthly profit is about 450,000 Hong Kong dollars (including subsidiaries).
I'm a little curious about the purpose of your loan? If it's for shipping, I might not agree to this loan."
It was one thing for Cheung Kong Industries to be able to repay the debt, but he didn't want Lin Zhichao to put all his money on the heavy asset business - shipping. It was only early April, and Cheung Kong Industries could still make a profit in the remaining nine months of this year.
Three to four million Hong Kong dollars, but that is a matter of the future.
Lin Zhichao said with a smile: "It's not about shipping! As far as the shipping business is concerned, I am still doing so-so right now. How can I make a big bet again? I plan to use all of these three million loans to purchase raw materials, including aluminum alloys, copper,
Plastics, etc., are stored in the warehouse."
When Jian Dongpu heard this, he was immediately confused and asked curiously: "What are you doing importing so many raw materials? Could it be that you want to give a large discount to reduce costs. But in this way, the interest will also wash away that part of the cost."
Lin Zhichao took advantage of the situation and said: "In addition to large-volume discounts, I am also worried about restrictions on imports, so I hope the Bank of East Asia can provide low-interest loans."
The biggest impact of the level of interest is the customer's creditworthiness. Cheung Kong's creditworthiness is definitely high enough; the second is the size of the amount. HKD 3 million already accounts for a considerable proportion of the deposits of Bank of East Asia.
Jian Dongpu suddenly thought, he must seriously consider this loan.
The asset value of Cheung Kong Holdings is considered very high. The factory land in the two places alone is worth 3 million Hong Kong dollars; not to mention the machines, which are also very valuable.
Of course, the most valuable thing is the value of the entire enterprise.
Suddenly, Jian Dongpu remembered Lin Zhichao's speculation in the U.S. dollar, and suddenly felt that this young man was very extraordinary and grasped the international situation very accurately, so the rise in raw materials might be real.
What's more, if it weren't for Lin Zhichao's reminder, Bank of East Asia's losses in the mainland would have been more than 3 million Hong Kong dollars.
Therefore, this favor can be sold.
"Okay, 3 million yuan for one-year loan, 10% interest!"
In the end, Jian Dongpu readily agreed and did not ask Lin Zhichao to go home and wait for news.
Lin Zhichao breathed a sigh of relief. In this era, it was simply unimaginable that a Chinese-owned bank could borrow 3 million yuan from a bank and have a bank deposit of about 100 million yuan.
Therefore, the success of this loan shows that his creditworthiness is very high.
As for the purpose of this loan, it is naturally used to purchase raw materials. The three raw materials of aluminum alloy, copper, and plastic are matched at 60%, 20%, and 20%.
Among them, 600,000 Hong Kong dollars of imported plastic will definitely not be used up, so part of it is used for speculation, which can easily double the profit.
This 3 million loan plus 300,000 interest will not be included in Yangtze River Industrial's finance this year at all, because it itself is the purchase of raw materials, so its monthly profits will increase significantly.
Not included in the fiscal revenue, Yangtze River Industry can still provide Lin Zhichao with 3 million yuan in funds this year for the development of shipping; or part of it can be used for Yangtze River Industrial's investment - special zipper machines, business marketing, research and development expenses, etc.
Say goodbye to Jian Dongpu and wait for this loan to be credited to Cheung Kong Holdings. I believe it will be credited in the next two or three days.
Then, you can arrange the purchase of raw materials in mid-April to avoid long nights and dreams.
Tang Zhongyuan came to Lin Zhichao's office in Tsuen Wan and told him the good news: "Zhichao, Scott has paid the balance and placed an order for 500 dozen shirts and 500 dozen trousers. A 30% deposit has been paid."
Lin Zhichao made tea for Tang Zhongyuan and said calmly: "It seems that our Yangtze River Garment Factory has gained a reputation. If nothing else happens, more South African wholesalers will come to Hong Kong to purchase goods, so we must be more proactive.
"
For the last order of 8,400 shirts (700 dozen), Yangtze River Industry made a profit of more than 20,000 yuan, which was much more profitable than orders from Southeast Asia.
Once the South African garment market is opened, the profits of Yangtze Garment Factory will roll in, and it will become an existence on par with Oriental Textile.
That's why Tang Zhongyuan cares so much about this business. While taking care of Oriental Textiles, he also pays close attention to the management of Yangtze Garment Factory.
"Well! This deputy manager Zhou is very capable and has made great achievements this time!"
Tang Zhongyuan couldn't help but admire Lin Zhichao's teaching talent. He had so many talented people under his command that he could start another business by just recruiting a few managers.
Little did they know that the management staff under Lin Zhichao were all carefully selected and recruited. Lin Zhichao often encouraged everyone to study more, read more books, and share his own growth stories to encourage everyone to make progress.
"Those who have made merit will naturally be rewarded at the end of the year. We are not in a hurry to praise them now. We need to hone these management staff more." Lin Zhichao commented.
If you can't even wait for the end of the year and are eager to take credit, then you don't need such subordinates.
Tang Zhongyuan highly recognized Lin Zhichao's skills in controlling his subordinates. His son-in-law's workers were highly motivated and enjoyed relatively high welfare benefits. Of course, this was difficult for others to learn, at least not much from Oriental Textile, because he needed to consider
cost factors.
Garments and textiles are both large employers of labor, but their added value is low, so workers' wages are generally not high, and Oriental Textile is no exception. However, in order to imitate his son-in-law and mobilize the enthusiasm of workers, Tang Zhongyuan also implemented double grain rewards at the end of the year and festivals
There are a few benefits and the salary is similar to other factories.
"By the way, when will your crocodile shirt brand open?" Tang Zhongyuan asked curiously.
"It's expected to be in June or July! The crocodile shirt brand is a mid-to-high-end brand of clothing. It wants to capture the clothing taste of Hong Kong's middle-class people in one fell swoop, so there is a lot of work involved."
The selection of fabrics, store layout and decoration, marketing planning, design styles, etc., all need to be advanced step by step. Therefore, Lin Zhichao also works slowly and carefully. After all, this is the birth of a brand, not an OEM garment industry.
"Well, that makes sense! Generally speaking, rich people like to go to stores opened by experienced tailors in Shanghai to customize their products, and the middle class has a large number of people and has more opportunities." Tang Zhongyuan commented.
He is from Shanghai. He likes to go to North Point for haircuts and clothes shopping, where he can find what he needs.
Lin Zhichao smiled and said nothing. Sooner or later, the crocodile shirt he wanted to make would represent Hong Kong and become a mark like Hong Kong's "Bauhinia".
After Weng and his son-in-law chatted about business for a while, Tang Zhongyuan stood up and left. As for the recent closeness between Lin Zhichao and his youngest daughter, the couple turned a blind eye and waited for Lin Zhichao to bring it up.
This matter is not unacceptable, as long as Lin Zhichao is good enough!
Hong Kong's garment factories are shocked!
Because the Yangtze Garment Factory received orders from Africa, not only did it not suffer losses, but it also gained the trust of African businessmen and continued to receive orders.
As a result, the Yangtze River Garment Factory worked all night long, which made it envious of some garment factories and also caused speculation among some garment factories.
"This must be a trap. The orders get bigger and bigger, and then suddenly they don't pay and take advantage of them!"
"It makes sense. I still stick to my opinion. It's better not to accept orders from Africa."
Most garment factory owners' views on African orders have not changed much.
Only Lin Baixin from Lixin Garment Factory was a little annoyed that she was unlucky and was beaten to the punch by Yangtze Garment Factory.
"Brother Xin, don't be upset. There will definitely be opportunities like this in the future. Our Lixin Garment Factory is not weak and we will definitely be able to increase sales channels." Yu Baozhu comforted her immediately.
She was also a little upset in her heart, but she understood that since what happened, she should cheer up more.
Lin Baixin nodded and said: "Baozhu, from now on you will help me manage Lixin Garment Factory!"
The marriage of the two has been decided, and he feels that Yu Baozhu is very capable and can help him.
"Well, thank you, Brother Xin!" Yu Baozhu was very happy immediately.
You know, she is a concubine now, so her status is definitely not high; but if she can help Brother Xing in his career, her status will rise in the future.
Although she is a concubine, her status will definitely not be lost to that of the main wife.
Lin Zhichao and Tang Caiyun came to Conduit Road in Mid-levels to look at houses. Starting this year, Lin Zhichao asked Hu Zhaoxu to look for a Mid-Levels house without tenants for him in Mid-Levels.
If there are tenants, it will be a troublesome matter. After all, there is no tenants' court in Hong Kong at this time, so there will be a lot of troubles.
"Lin Sheng, although this bungalow is a bit old, it occupies a large area, has a courtyard and a garage." The agent introduced it patiently.
Lin Zhichao took a look and found that the building was indeed old, probably from the 1920s. However, this foreign-style building was surrounded by walls and iron fences, and was shaded by trees, so it had better privacy.
The more famous residences on Conduit Road include: a palace-style mansion built by comprador Mok Kansang at No. 41 Conduit Road, the private residence developed by Kitty Paul Chater, etc. There are many imitation palace buildings.
"Who was the previous owner?" Lin Zhichao asked.
This is very important. There are many celebrities living in the mountainous area. If they are politicians or warlords, they are unlikely to be harassed by spies and subordinates for a long time.
"He's an executive from a foreign bank. He's planning to return to China now, so he's eager to make a move." The agent immediately said.
The man in front of me is a real estate tycoon himself and can be described as very professional.
Lin Zhichao nodded and said to Tang Caiyun: "What do you think?"
Tang Caiyun looked at it carefully and said: "The site is indeed very big. I like this big yard very much. The balcony is also very nice, and you can also plant some bonsai."
Lin Zhichao understood and said to the agent: "Okay, please make an appointment with the landlord to sign the contract for me!"
"Okay, I'll contact you as soon as possible. I'd better contact Manager Hu!"
"Contact Manager Hu, I am purchasing a house for my company."
The agent did not expect that Lin Zhichao and his wife decided to take it after looking at it for an hour. They were really proud of it.
Little did I know.
In Lin Zhichao's opinion, this three-story house covers an area of more than 3,000 square feet and is priced at only HK$188,000, which is obviously very cheap.
The top-notch fee for a floor in Mid-Levels is RMB 15,000, and the monthly rent is HKD 450. If it weren’t for the current unclear situation in Hong Kong, how many buildings are for sale there? After all, everyone is competing to be a landlord and living a life of collecting rent.
In Hong Kong, almost every building with a slightly better quality has the rule of "rent for 7,000 per month and rent for 200 per month." This has become a slogan in everyone's mouth, "rent for 200 per month for 7,000 per month."
I'm afraid this handover fee will exist for many years, and the government won't be able to control it, because the rent is subject to regulations, but the handover fee is frankly unreasonable, and it means that the landlord is taking advantage of the loophole.
Later, Lin Zhichao and Tang Caiyun got into the car and left the scene.
Tang Caiyun asked curiously: "Just now did you say the company purchased a house?"
Lin Zhichao said with a smile: "Cheung Kong Industries will pay for it, so we might as well register it as a subsidiary."
Tang Caiyun nodded and asked no more questions.
Lin Zhichao added: "Looking at the appearance of this house, I plan to renovate it. I'm afraid I won't be able to live in it this year and will move in next year."
Since we want to live in a good house, this house is too old. We may have to live in this house until the end of the 1950s. During this period, even if Lin Zhichao found a Feng Shui treasure in Deep Water Bay, it would be rebuilt, so it can only be used as a house in the 1960s.
New residence.
Tang Caiyun said with a smile: "I'm afraid I want to use this house to marry a new person!"
Lin Zhichao responded: "When you say this, it's really the right time."
Tang Caiyun didn't have any objections, because this kind of thing had already happened. She suddenly seduced Lin Zhichao's ears: "Husband, do you want to do that?"
Lin Zhichao nodded instinctively!
Tang Caiyun smiled and then ignored the topic, but Lin Zhichao understood that the opportunity was coming soon.
Although the atmosphere of this era is conservative, it does not mean that there are no private life decisions and elopements, so there is no need to worry about excessive things.
It's the weekend.
Tang Caiying came to the Lin family wearing a beautiful dress, which has become her habit. No matter whether the Lin family and the Tang family get together on weekends, she will always come to the Lin family, because she is freer and more pampered in this family.
Arriving at Lin's house, Tang Caiyun was playing with her children on the sofa, and even Lin Xiner was playing with Lin Ruihuan.
Tang Caiying first pretended to play with Lin Ruihuan, and then her eyes drifted to the bedroom of Lin Zhichao and his wife, quite absent-mindedly. Although she and her sister had opened their hearts, after all, Lin Xiner and Wu Wenying were still there, so she felt a little uncomfortable rushing in directly.
Tang Caiyun felt funny in her heart. Her sister was now deeply involved in it, and the girl had just begun to have a love interest.
Handing Lin Ruihuan to her mother-in-law, Tang Caiyun said with a smile: "Come in with me, I have something to tell you!"
Tang Caiying was stunned, thinking that Lin Zhichao was not in the bedroom, so she didn't feel anything wrong and followed her sister into the bedroom.
When I walked in, I found Lin Zhichao reading on the desk.
Tang Caiying jumped to Lin Zhichao and said, "Brother Zhichao, it's not okay for you to read on weekends. Shouldn't you spend more time with your family?"
Lin Zhichao then turned sideways and said: "It's not that exaggerated, I just watched it for a while!"
Then he stood up, came to Tang Caiying's side, and motioned Tang Caiyun to come closer and start chatting.
"We bought a three-story western-style building on Conduit Road and renovated it. You can move in next year!"
Tang Caiying looked at her sister first, and then said: "What should my parents do?"
Tang Caiyun said with a smile: "What else can we do? Just look at their attitude and you will understand!"
Tang Caiying thought about it, it was really like that, and then said unconvinced: "Brother Zhichao, if you don't cherish it, we won't be able to forgive you in the future!"
One sentence made Lin Zhichao almost tremble!
Fortunately, he said calmly: "Don't worry! I am a very responsible person and I will ensure that everyone is happy."
In fact, I thought that in another twenty years, he would still be a young man!