Li Guangyu took the huge profits earned from the stock market and injected them into several major groups to increase their expansion, while Jardine Matheson had to face the consequences of Nubigian's wrong decision.
This time the Jardine Group lost tens of billions. Even if the Jardine family is a big business, it cannot withstand such losses. Especially this stock market transaction was mainly conducted by several major shareholders of Jardine, who are not the same as ordinary shareholders.
dime relationship.
This time, Newbigen's investment in the stock market was only the responsibility of the Keswick family and its cousins, the Jardine family, which put considerable pressure on these two families.
The plummeting stock market in Xiangjiang also made the shares in their hands not very valuable. In addition, the funds of Jardine Matheson Group were already quite tight due to the blind expansion during the Nubigian period, which also brought huge difficulties to Jardine Matheson's development.
In the office of Jardine Matheson Group, Henry Keswick is contacting the Jardine family in London to discuss how to overcome the current difficulties. Although the two families have mobilized 5 billion Hong Kong dollars, there are currently 6 billion Hong Kong dollars.
They have to make up for the gap in the Hong Kong dollar.
After some discussions, because Henry Keswick insisted not to sell the company in his hands, the Jardine family finally agreed that the two families would mobilize another three billion Hong Kong dollars in proportion to make up for the losses here. As for the rest,
He just asked Henry Keswick to find a way on his own and refused to raise funds at all.
This loss caused the two families to lose more than half of their hundreds of years of accumulation. It was only after Henry Keswick assured the Jardine family that the company would have very good profits that the Jardine family agreed to mobilize some funds from the family.
In the past, a lot of funds came from bank mortgage loans using company shares.
At the same time, the Jardine family asked Henry Keswick to deal with a number of low-profit enterprises, revitalize the capital chain of Jardine Matheson Group, and reduce Jardine Matheson's liabilities, among which was the Heung Kong Electric Group.
The Jardine family was a little dissatisfied with the holding of this group at that time. They spent a huge amount of money to control such a company with limited profits. There was really no place to spend the money. If it hadn't been for the Nubigian and Keswick families to persuade them to
To suppress the momentum of the Li Group, the Jardine family would not agree to do such a thing.
After Henry Keswick hung up the phone, he sat alone in the office, thinking about how the Jardine Group would go in the future. The failure of this investment not only caused huge losses to the two families, but also affected the Jardine Group.
The impact of the secondary stock market crash was not small.
If he had a choice, Henry Keswick really didn't want to sell out his group. He had just taken over the Jardine Matheson Group, and he was about to sell the companies under the Jardine Matheson Group. This would only show what the inside of Jardine Matheson would think.
Due to his incompetence, he couldn't even save his own business.
Especially during this period when the stock market is plummeting, the confidence of employees of Jardine Matheson Group will definitely be hit. Henry Keswick did not want his days at Jardine Matheson Group to start in this way. This was not a glorious start for him.
start.
In order to make up for the remaining difference, Henry Keswick specifically contacted Shen Bi and George Lavin, hoping that they could provide loans to Jardine Matheson Group to make up for the losses in the stock market.
George Lavin rejected Henry Keswick's request on the spot, and also reminded Henry Keswick that Newbigen's mortgage loan from their bank last year was due to the collapse of the stock market.
Make up the difference with the group as soon as possible.
Henry Keswick was almost furious. I came to you for a loan, but you still asked me to continue to make up the balance of the loan. Why should I come to you if I have money?
Henry Keswick also didn't gain much from Shen Bi. Now many of their shares in Jardine Matheson have been mortgaged by Nubigian to Standard Chartered and HSBC in exchange for funds for rapid expansion.
Now that the stock market has plummeted and the value of the shares has been greatly reduced, he needs to mortgage more shares to make up the difference. In the end, there are really not many shares left to mortgage.
At three o'clock in the afternoon on the 8th, Jardine Matheson's top management held a shareholder and senior management meeting. Henry Keswick explained the current predicament and asked everyone to unite and lead Jardine Matheson Group out of the predicament.
The people attending this meeting had different thoughts and were making their own little calculations, especially the major shareholders of the Jardine Matheson Group. Many of them were major shareholders of the listed companies of the Jardine Matheson Group. The sharp decline in the stock market caused
They had some other ideas.
Among them is Wang Xinyu, director of Xiangjiang Electric Group. Li Group is the second largest shareholder of Xiangjiang Electric Group. The vice president of Xingyu Group is also a director of Xiangjiang Electric Group. When Jardine Group held such a meeting, she naturally wanted to
Come and attend and see what Jardine Group has planned.
It's a pity that the content of this meeting disappointed her. It didn't reveal anything of value. It was all about encouraging everyone to work together and lead the group to develop. It didn't reveal at all how Henry Keswick planned to solve this problem.
things.
Henry Keswick had no intention of telling his plan at the meeting. He knew that many shareholders here were not of the same mind as him, and there were even people who wanted to see Jardine Matheson go bankrupt. If he told the plan,
, isn’t this just sticking your head out to be slaughtered?
After the meeting, Henry Keswick left behind his close associates to discuss with them which company in the group would be more suitable to sell.
Senior officials are also aware of the current situation of the group, as well as the plight of the Keswick family and several other shareholders. If there is a problem with Jardine Matheson Group alone, the Keswick family and the Jardine family will still have funds to invest in filling the gap.
But now the two major families have suffered heavy financial losses due to the stock market, and have no spare time to help the Jardine Group. Therefore, if Jardine wants to get out of the predicament, it must have the determination to cut off its own strength.
One of the senior personnel said: "We need a large amount of funds this time. Just selling scattered small properties will not help the group get out of the predicament, so we still need to be prepared to sell the listed company."
Henry Keswick said: "I am asking you just to know which listed company you think is more suitable for us to sell."
Currently, some of Jardine's more important companies include Jardine Land, Heung Kong Dairy Company, Mandarin Oriental Hotel, Wellcome City, Heung Kong Electric Group, etc. Henry Keswick has not determined which companies the group will sell to revitalize the Jardine Group.
exhibition.
One of them said: "Jihe Land is our flagship and we absolutely cannot give up. The Dairy Company and Wellcome City also provide us with a steady stream of cash, and we cannot give up easily here. As for the Mandarin Oriental Hotel and
Xiangjiang Electric Lighting Group, it all depends on your own plans."
Henry Keswick is interested in selling the Xiangjiang Electric Lighting Group, and the Jardine family also agrees with this opinion. It is just that last year they controlled it at such a high price and now they are selling it out at a low price, which makes Henry Keswick a little hard to accept.
. He has lost billions in just over a year. This investment really makes him a little unwilling.
After Henry Keswick discussed with these senior executives for a while, he still did not decide which company to sell immediately.