Chapter 342 Adjustment of the corporate organization under the consortium
In the past two months, a lot of things have happened, and the corporate organizations under the consortium have made extensive adjustments.
Mid-May 1998
After multiple rounds of negotiations, the Wang Consortium acquired Samsung Group's packaged assets for US$1.778 billion, including Samsung Group's subsidiaries, Samsung C&T, Samsung Airlines and Shilla Hotels, thus taking advantage of this benefit.
To this end, the Wang Group has made extensive adjustments to its companies to make them more adaptable to new changes.
first step;
The Hong Kong and Shanghai Hotels, listed on the Hong Kong Stock Exchange, merged with Miramar Hotels and Shilla Hotels to reintegrate hotel industry assets.
Shilla Hotel, as a joint-stock company listed in Korea, owns 13 Shilla hotels with four stars or above across the country. It is a wholly-owned subsidiary of Hong Kong and Shanghai Hotels Co., Ltd. and focuses on the hotel industry in Korea.
The Hong Kong and Shanghai Hotels Group also owns the five-star Peninsula Hotel brand and the mid-to-high-end Miramar Hotel brand. It will take the two as the leading companies and, after digestion and integration, expand to the mainland, Europe and the United States.
After merger and digestion;
The Hong Kong and Shanghai Hotels Group has expanded into a high-star hotel group covering the entire Southeast Asian countries, mainland China, Japan and South Korea, becoming a large multinational hotel group with a market value of HK$37.2 billion.
Step 2;
Swire Holdings is divided into three companies, Swire Shipping, Swire Shipping and Swire Trading, which are listed separately and operate independently.
One, Swire Holdings;
It is composed of the assets of the original Swire Properties, a large number of mortgage properties recovered by HSBC Bank due to loan defaults due to the financial crisis, and the assets of Samsung C&T throughout Southeast Asia.
One year from July 2, 1997 to the present, the financial crisis that swept across Southeast Asia, Japan, and South Korea had a devastating impact on the Hong Kong real estate industry. Real estate values plummeted by 57.2%, and tens of thousands of property owners were unable to repay their high debts.
I lost my apartment and shop properties due to the loan, and these assets were repossessed by the bank.
Among them, HSBC accounted for another 40% of the total due to the business closure of many large customers, which seriously dragged down the bank's revenue.
Through the injection of cash assets, the Royal Family Fund purchased non-performing fixed assets and a large number of properties originally worth more than US$20 billion at a price of US$4.92 billion, allowing HSBC to quickly get rid of the huge burden of non-performing assets and be able to carry out operations with ease and regain its vitality.
Through some capital operations
This huge amount of assets throughout Southeast Asia has been re-injected into the Swire Group through the issuance of new shares, increasing the shareholding ratio of the Royal Fund and making it stronger.
In addition, it also includes the acquired Samsung C&T, which also injected Swire shares through the issuance of new shares.
Samsung C&T owns 27 buildings in Seoul and surrounding cities, as well as some fixed assets in Fusang, Hong Kong, Singapore, Malaysia, and Thailand. The real estate scale is quite amazing.
As a result, Swire Holdings has rapidly expanded into a multinational real estate group.
It also owns nearly 25% of commercial real estate and numerous residential properties on Hong Kong Island. It is an out-and-out behemoth and has proudly become the leading company in the Hong Kong real estate kingdom. Its market value has risen to HK$266 billion, and the Royal Family Fund’s shareholding is as high as 89.72%.
Second, the ancient ship;
Then it was listed under the shell of Miramar Hotel, and through a series of complex actions such as injecting assets and changing its name, it became Swire Shipping Co., Ltd. listed on the Stock Exchange.
Swire Shipping is a multinational ocean shipping company with representative offices in Hong Kong, China, Singapore, Mainland China, the United Kingdom, Indonesia, Papua New Guinea, India and the United States. Its fleet has a total of 35 multi-purpose ships and seven
A 100,000-ton Panamax-class bulk carrier, the liner service also charters an additional fifty-one multi-purpose vessels.
Swire Shipping manages liner services serving more than 130 ports around the world and develops diversified dry bulk shipping operations, container and refrigerated shipping services, including capesize shipping and bulk cargo logistics operations.
The new company took over the assets of the original Swire Shipping, plus Han Bangziguo's transportation and terminals, warehouse assets, and 87% of the equity of Malaysia's Royal Port, with a total market value of HK$16.35 billion.
Third, Taikoo Trading;
Listed under the shell of Hong Kong Widescreen Holdings, through a series of complex actions such as injecting assets and changing its name, it became Swire Trading Co., Ltd. listed on the Stock Exchange.
Its assets include;
Swire Beverages has the exclusive rights to manufacture, distribute and promote Coca-Cola products in 11 states in the United States, Hong Kong Island, Taiwan and the Mainland, which can provide stable revenue.
This is the interest in Coca-Cola acquired by Swire Pacific in 1965.
In other words, Coca-Cola products consumed in the above-mentioned areas, as well as Coca-Cola advertising and promotion, are all within the business scope of Swire Trading.
Including Sprite and Diet Coke, Yuquan, Canada Dry, Barq’s Ginger Beer, Dr. Pepper, Dasani, EVian and a series of energy drinks. This business is highly profitable, has a long history and is a high-quality asset.
Swire Trading is one of the most famous and respected tea merchants in the world, with a wide range of products including tea products, rubber wood, milk, cattle and sheep fur products, etc.
The company has vast plantations in East Africa and Sri Lanka. In addition to producing tea products, it is also engaged in global tea trade, tea packaging and tea juice extraction.
The company's plantations in Kenya, Uganda and Sri Lanka produce 50 million kilograms of black tea every year.
Engaged in the global trade of black tea, green tea, instant tea and tea tree essential oil and other tea extracts, as well as the trade of caffeine-free tea in the Middle East, Japan and European and American markets.
Swire Trading provides tea, coffee and specialty teas to Carrefour supermarket chain, Pacific Supreme Plaza and internationally renowned chain companies. Customers include British supermarket chain Sainsbury's, French Carrefour (Crossroads) supermarket chain, Auchan supermarket chain, American Walmart supermarket chain, etc.
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In addition to growing tea, the plantation also grows rubber in Sri Lanka, develops commercial timber businesses in East Africa and Sri Lanka, operates ranches in Australia and New Zealand, produces wool, leather, beef products and milk, and has world-renowned brands.
As a multinational service enterprise with strong production capacity, Swire Trading's business consists of clothing, shoes and hats, sportswear brands, as well as Coca-Cola, Diet Coke and Snow's famous soda products and functional drinks.
Coupled with a full range of agricultural products, including coffee, rubber, black tea, green tea and tea essential oil products, as well as milk, beef, wool, leather, etc., they are all high-quality products needed by the Carrefour supermarket chain and Pacific Plaza, with a wide range of products.
Popular in the international market.
In addition, Swire Trading has absorbed and merged a large number of HSBC Bank's defaulted loan recovery assets and is in the stage of digestion and integration, with a total market value of HK$11.121 billion.
So far;
Through this merger and integration, the three companies of Hong Kong and Shanghai Hotels and Swire Group were formed. The industrial structure is more reasonable and clear, which is conducive to professional cross-border development.
In addition, the biggest change is Cathay Pacific Airways.
All commercial assets of Samsung Airlines were transferred to Cathay Pacific, including a total of 17 aircraft fleets, domestic and international routes, a 12% stake in Seoul Airport and some office facilities, maintenance facilities, etc.
In addition, Cathay Pacific acquired as many as 36 Il-76 transport aircraft from Ukraine two years ago, greatly expanding its cargo capacity and increasing its cross-border express mail flights to various countries.
It has recently reached a contract with the American Boeing Company to purchase 22 large and medium-sized long-range passenger aircraft, 12 of which are Boeing 747 wide-body long-range passenger aircraft, although the new aircraft have not yet been added to the fleet.
But it is completely foreseeable that Cathay Pacific’s ability to operate international flights will grow rapidly.
A series of large-scale investments have greatly expanded Cathay Pacific's fleet and doubled its strength. This part of Samsung Airlines' assets is a capital increase and a shareholding, which has once again increased the shareholding ratio of the Royal Fund by a large margin.
Cathay Pacific's Hong Kong stock market value has risen to HK$57.5 billion, ranking it the ninth largest airline in the world.
At the same time, the consortium's senior personnel personnel also made a series of adjustments.
Pacific Holdings President Yu Chengde returned to the Hong Kong headquarters;
He still personally controls Swire Holdings, Swire Shipping, Swire Trading, HAECO, New World Communications, Hong Kong and Shanghai Hotel, Hong Kong and China Gas Company, Hong Kong China Power Company, etc.
Wilkinson, Vice President of Pacific Company, went to Jinling City to take charge of the company. His management focus was on Pacific Electronic Computer Company and other enterprises, coordinating the linkage and cooperation relationship with Atlantic Company, and overcoming the difficulties in connecting production and sales links.
Feng Lun was promoted to vice president of Pacific Company, in charge of Pacific Real Estate Development Company, Yanjing City Pacific Plaza project and Jinbao Street development project.
Yi Xiaodi was promoted to vice president of Pacific Company, in charge of the Atlantic Industrial Park and Future Science Park in Shenzhen, as well as the Côte d'Azur Real Estate Development Company, and planned the construction of a landmark commercial building in Shenzhen.
Zheng Fushan was transferred to the position of president of Changjiang Technology Group to strengthen corporate production management.
Fan Qingyun was transferred to the vice president of Huanghe Technology Group, in charge of the LCD display business unit, which is a key expansion area of the consortium.
Zhang Jindong was promoted to executive vice president of Huanghe Technology Group, in charge of the home appliance chain shopping mall division. He is a once-in-a-century talent in the field of home appliance sales, helping Pacific chain home appliance shopping malls to reach a higher level.
On the American side;
Mr. Chambers, CEO of Atlantic Business Machines Company, was transferred to the position of chairman, and the president and CEO was replaced by former vice president Zhang Shuguang, who was Wang Yaocheng’s confidant and a very capable management expert.
Vice President Zhang Shuguang finally got his job at Atlantic Business Machines after four years of experience and was able to take control of this huge company.
at the same time
Many Chinese-American executives hold key positions. There are Chinese-Americans with rich working experience in the famous Texas Instruments, Intel, IBM and other famous companies, forming a decisive Chinese-American force.
A large number of Silicon Valley companies' original "sea pioneers", Yu Chengde and Zhang Shuguang, have the same entrepreneurial experience and have gradually penetrated into the middle and senior levels of the industrial field, helping President Zhang Shuguang control this huge multinational enterprise.
Oppo brand personal desktop computers and laptops sell well all over the world. Through continuous innovation and enhancement of brand image, the Rolls-Royce version of laptops has firmly occupied 34.9% of the market share in the mid-to-high-end market, ranking first in the world.
at the same time,
Oppo brand copiers and high-end office equipment products rank among the first-class international manufacturers, contributing stable revenue to the company.
The only regrettable long-suffering mobile phone project;
Although it was prepared a year and a half ago, Wang Yaocheng held it back and refused to release it. It was changed again and again in the laboratory, and it has been upgraded to a second-generation product.
At present, there is still no hope that the boss will release him.
According to rumors, the privatization and delisting process of Atlantic Business Machines will begin in July.
Anyway, the Nasdaq market is full of uploads. Combined with the minority shareholder rights litigation faced by Atlantic Business Machines, this possibility is almost nine out of ten, and market participants are not only amazed;
Being rich means being willful, which is really too embarrassing.
Mr. Chambers shifted his focus to Cisco and served as chairman and president. He devoted himself to the development and expansion of this full-field network equipment provider and drove Cisco to continue to make bold progress.
As a financial investor, Royal Fund hides behind the scenes and quietly makes a fortune.
Among them
Wang Yaocheng did a lot of meticulous work for Mr. Chambers. In addition to the 1.6% (including 1% stock options, vested in ten years) of Atlantic Business Machines shares that he originally held, he also made other considerate arrangements.
Cisco has developed a 4% stock option pool incentive plan for senior executives. The focus is on Mr. Chambers, the chairman and president who has made the greatest contribution, with an exclusive 2% stock option incentive plan. This part is also cashed out in stages over ten years.
To encourage management to continuously forge ahead.
It can be seen that Wang Yaocheng went to great lengths to appease Mr. Chambers, but of course the result was satisfactory.
Whether others can take Cisco to unprecedented heights, Wang Yaocheng doesn't know, is not interested, and is even less willing to take risks. He would rather spend a lot of money to keep Mr. Chambers.
Only your feet know whether the shoes fit well or not.
also,
Silicon Valley Arctic Ocean Company has also been reintegrated, with Qi Feifei still serving as president and chairman of Athlon Microprocessor Company, who resigned as chairman of Yahoo.
Arctic Ocean Company owns more than 20 start-up high-tech companies such as Red Hat Investment Company, Red Hat Systems Company, Yahoo, Image Gallery website, YouTube website, and Amazon website.
Wang Yaocheng personally serves as the chairman of Arctic Ocean Holdings Company, taking charge of the overall situation.
Mr. Shen Xiangyang serves as the president and CEO of Yahoo!, a leading Internet high-tech company with a market value of over 100 billion US dollars.
Mr. Shen Xiangyang is a world-class expert in computer vision and graphics research, an academician of the Association of Electrical and Electronics Engineers, and an academician of the International Computer Association. He has a steady and generous personality, and his level is several times higher than that of Yang Zhiyuan.
This is Wang Yaocheng, a talented person who was poached from Microsoft and personally entrusted him with important tasks. Facts have proved that this step is very wise.
Under the control of Mr. Shen Xiangyang, Yahoo has determined its core development goals;
Provide the website with the richest content, the most entertainment value, the most attractive graphics and the easiest to use, with the most efficient, simplest and most convenient web search services, and are committed to the best web surfing user experience.
Wang Yaocheng is very satisfied with this. No matter how he chooses the right direction, there will be no major problems in business operations.
Athlon Microprocessor Company, which is scheduled to be listed on the Nasdaq market at the end of 1998, will be the final product of this year.
After busying himself with all the work, it wasn't until mid-June that Wang Yaocheng found the time to enjoy his romantic vacation.