Huang Hongnian was talking to Zhang Yida about the acquisition of Indonesian Bank, when he suddenly saw Zhang Yida answering the phone and his face turned bad.
“Yimin Wealth originally negotiated the acquisition of Barclays’ wealth management business in Singapore and Hong Kong, and the agreements were signed.
Barclay is suddenly going to regret it! Is there any trust between people?"
Huang Hongnian said as if he had come from before: "It's normal! There is no credibility in the business field, all that matters is profit.
I won’t talk about it for a long time, but have you heard about the fact that I was defrauded of US$1 billion by Citibank in 2008?”
Zhang Yida nodded, he had indeed heard about such a big incident.
Huang Hongnian did not elaborate on this matter, but reminded: "Be careful when dealing with capitalist countries!"
"It's okay. We signed the contract anyway. If Barclays breaks the contract, it will compensate us US$128 million.
After deducting legal fees and audit fees, you can still make a net profit of US$120 million!"
Huang Hongnian nodded, and then said: "You must not let them lead you by the nose on this matter.
The more calm you act, the more anxious they will be."
"Well, what I've learned from experience!"
Zhang Yida shrugged, "I really don't care! I'm definitely not afraid of their threats!"
…
"Mr. Zhang, let's all have a good talk! It's not good for any of us to remain so frozen."
In an office of Barclays' Singapore branch, Sun Yanjia was the first to speak.
Ding Siyao, who was sitting next to Zhang Yida, couldn't help but say, "Mr. Sun, if you don't cooperate with the final delivery procedures now, it has essentially constituted a breach of contract.
We can sue you anytime!"
"Just sue! We'll compensate you US$128 million! Anyway, we won't sell this part of the business.
The London headquarters has also given instructions and believes that it is not cost-effective to sell this part of the business at the moment. We plan to continue to operate it ourselves!"
Ding Siyao did not believe her words and said with a smile: "You sent invitation letters to all your customers, inviting them to participate in the asset management signing ceremony of Yimin Wealth.
Now that the company is suddenly no longer for sale, I believe customers will have some new ideas about Barclays."
"This doesn't have to worry Mr. Laoding! We will naturally make arrangements!"
The two women exchanged words, and neither of them wanted to bow their heads.
Cliff suddenly looked at Zhang Yida and said, "Mr. Zhang, tell me what you think!"
"What thoughts can I have?" Zhang Yida said calmly, "I just want to say that the bank itself should be a financial institution that sticks to its promises, and Barclays is an old bank with a glorious history of more than 300 years. If it goes back on its word, it may cause serious consequences in the future.
Shame on the whole world!”
"Yes, we did breach the contract! But we are willing to pay a liquidated damages of US$128 million. This is the embodiment of our compliance with the spirit of the contract."
This was said beautifully, Zhang Yida nodded, "Okay! Since Mr. Cliff has said so, then pay us liquidated damages!"
We will try our best to help Barclays calm down this matter in a low-key manner! This will not affect your future business development."
Cliff shook his head, "Mr. Zhang, you don't mean what you said. I know you want financial licenses from Singapore and Hong Kong."
"Yes, yes, we really want to obtain a financial license. But besides Barclays, there are many alternative options.
With the US$128 million you compensate us, I can buy a full Singapore asset management license and Hong Kong financial licenses No. 1-10.
Maybe you can still have some money left! Do you think this is a good deal for Yimin Wealth?"
Cliff felt deep despair. Indeed, as Zhang Yida said, it seemed that Barclays' default would be more beneficial to their people's wealth.
It would be wrong for Barclays to do anything other than selling the company to Yimin Wealth as soon as possible.
If you choose to breach the contract and run the company yourself, in addition to compensating the other party US$128 million, you will also have to endure the loss of customers;
If you choose to stay with Yimin Wealth slowly, you will lose customers and suffer heavy losses.
But as a citizen of the British Empire, he also had his own pride. He said: "Mr. Zhang, Singapore is a Commonwealth country. Are you sure you want to file a lawsuit with us here?
If it takes a long time, we may not be able to get the US$128 million in compensation in the end.”
"I have talked with Temasek. They will subscribe for some shares of Yimin Wealth from the secondary market in the near future."
Cliff frowned, Temasek is the investment company of Singapore's rich and powerful!
If Temasek really takes a stake in Yi Ming Wealth, the duration of the lawsuit, the outcome, and even the amount of compensation is uncertain.
He did not doubt whether there was something fishy in this. After all, Temasek was indeed a shareholder of Ruixiang, and had also established an industrial investment fund with Ruixiang.
He would never believe that Zhang Yida and Temasek had no friendship.
"Mr. Cliff, it is meaningless to talk about this now. What you should do more is to complete the delivery with us as soon as possible and stop the loss in time!"
Zhang Yida has no good impression of people like Barclays and always wants to take advantage of them.
It's like running a water-selling business. You have to sell the water on the ground to me based on the price. Is this such a good thing?
The negotiation broke up unhappily, and after Cliff reported the situation here to his superiors, he was sprayed with blood.
Now that Barclays is selling its business around the world, low-price clearances are inevitable.
The superior directly called Cliff a pig and asked him to complete all delivery procedures within a week.
Barclays stopped lagging behind and asked its team of financial planners to invite all customers who were willing to switch to Yimin Wealth to Singapore as quickly as possible.
…
Marina bay sands hotel.
Nearly a thousand billionaires from Southeast Asia and Hong Kong who rushed to the scene were seated in the General Assembly Hall.
It was indeed a bit rough, but time was too tight and I couldn't do any one-on-one activities for these customers.
Except for a small number of customers who directly agreed to entrust assets to Yimin Wealth Management, all other customers came to the scene.
Cliff first came on stage and said some important words, such as thanking customers for their long-term support and companionship, and now handing you over to Yimin Wealth.
This is a company that has created miracles. It has been listed on the New York Stock Exchange in three years and has invested in dozens of unicorn companies.
You are right to invest in their company!
Then Ding Siyao took the stage to speak, first showing the development history, operating data and various financial reports of Yimin Wealth in recent years to the customers present.
Including which unicorn companies it has invested in and its current market value, relevant displays are made.
Then comes the Q&A session, where investors on the spot can ask Ding Siyao questions and the latter will be responsible for answering them.
"Hello, Mr. Ding, what changes will Yimin Wealth bring to our investors after accepting Barclays-related business?" asked a middle-aged man.
Ding Siyao explained: “We have fully taken over Barclays’ business team, which will not have much impact or fluctuation on customers.
In addition, Yimin Wealth is also very good at equity investment in the primary market, and is a strategic partner with Ruixiang Industrial Fund.
Through Yimin Wealth, everyone can participate in investing in outstanding Internet and technology companies in mainland China, South Korea, India, Southeast Asia, and in the future even the world..."
Under the stage, two middle-aged men who were familiar with each other were communicating in Cantonese.
"Old Huang, do you think this Yimin wealth is reliable?"
"It's hard to say. I keep talking about investing in Internet and technology companies. The valuation bubbles in these industries are huge. Lao Zheng, what do you think?"
"The company is too young and the boss is too young. I'm a little worried!"
"Yes! Why don't you invest in Citigroup and HSBC's private bank?"
"Yes, if you want to engage in finance, you have to go to these established foreign banks! Mainland companies can't do it."
Of course, some people are not optimistic about it, while others are very optimistic about it.
Someone picked up the microphone and spoke: "The mainland is developing at a rapid pace. Investing in the mainland of the motherland through Yimin Wealth not only supports the construction of the motherland, but also enjoys the development dividends.
I personally support it very much, and in addition to the original $10 million invested in Barclays, I am willing to invest an additional $10 million!"
The man surnamed Zheng asked his companion Lao Huang: "Hey, do you think this is a commission? Are you asking for additional investment? Is it Shi Lezhi?"
"Haha," Lao Huang said with a smile, "I think so too! I'm still investing in the mainland of my country! I might as well buy a few more houses in Hong Kong."
After Ding Siyao finished speaking, Zhang Yida took the stage in his place.
Many people in the audience recognized Zhang Yida because he has been highly exposed in Southeast Asia in the past two years.
Invest in Lazada and make billions.
Initiated the establishment of an industrial investment fund totaling US$2.5 billion with the top Chinese chaebols in Southeast Asia...
There is a lot of news, and he is considered a famous figure.
Zhang Yida walked onto the stage, looked at the nearly a thousand wealthy people in the audience, and said with a smile: "Basically all of us here are business seniors, and I don't want to show off my limited business knowledge.
Let me briefly talk about the operation model of Ruixiang Industrial Investment Fund! The fourth phase of the industrial fund will be launched in the future. If you are interested, you can also participate through Yimin Wealth.
Let’s take Ruixiang as an example! In China, Ruixiang is a leading financial technology company that has obtained a full financial license except trust, and its current valuation is US$30 billion.
Ruixiang wants to replicate a similar company in Southeast Asia, a financial technology company that includes full financial licenses.
The fourth phase of Ruixiang Industrial Investment Fund is a merger and acquisition fund that will acquire financial companies including securities, banks, insurance, etc. in Southeast Asia and form a financial group.
Ruixiang will empower these traditional financial institutions with financial technology and improve their industry competitiveness and work efficiency..."
Zhang Yida then used the huge LED screen behind him to display several sets of PPTs.
"This is facial recognition technology that can be used to fight credit bullying..."
"This is the Eagle Eye risk control system, which can review thousands of dimensions of customer information in three seconds to complete credit lending..."
"This is Mobao Pay's scan code payment..."
"This is Ruixiang Financial Cloud Computing Center..."
…
Many people in the audience looked at it very seriously. Many of the financial technology technologies displayed by Zhang Yida seemed a bit novel to them, and they even couldn't believe that China's technology has developed to this point.
Is this still the China they have imagined with nothing but poverty?
Zhang Yida is indeed interested in the money held by these people. He just tricked the chaebol into joining the ship last time. He probably won’t be able to raise more funds until he sees the returns.
This time he has set his sights on the next-level tycoons. These rich people are worth tens of millions or hundreds of millions. Although they have less money, they can't stand up to the large number of people!
He was saddened by the loss of Barclays' customers, but seeing nearly a thousand people attending today gave him some peace of mind.
With so many people, cheating someone by 10% or 20% would probably cost 1 to 2 billion US dollars.