At Deep Water Bay Golf Course, Lin Zuhui is playing golf with Zheng Yutong.
He is now a member of the Jockey Club and the Royal Golf Club, but he doesn't actually play much. After all, his energy is usually focused on his career and women.
However, these two sports are the most common places for people in Hong Kong's upper class to discuss business, so he cannot escape this circle.
"Uncle Tong, I want to participate in the third phase of Discovery Bay, Lantau Island!" Lin Zuhui swings gracefully, but he doesn't know how to look at the trajectory of the ball.
This is due to his character. As long as he takes action, he will not regret it.
Hearing this, Zheng Yutong stopped what he was doing and asked: "Which project are you optimistic about?"
Discovery Bay is located on Lantau Island and is also a land parcel near the future airport.
In 1977, Hong Kong Industrial used Discovery Bay as a mortgage to borrow money from Moscow Narony Bank, a Soviet state-owned bank. However, it was unable to repay the debt and the land in Discovery Bay was confiscated by Moscow Narony Bank at any time.
When industrialist Cha Jimin heard the news, in order to prevent Hong Kong land from falling into Russian hands, he spent tens of millions of Hong Kong dollars to purchase a large area of wasteland in Discovery Bay, Lantau Island, and acquired and took charge of Hong Kong Industrial.
Different from other large-scale development projects in Hong Kong, all development projects in Discovery Bay are basically private construction. At that time, it was deserted, with no roads, no water and electricity, and could only be accessed by sea, but there was no pier. All infrastructure in the area
It is necessary to start from scratch. These development projects require huge capital investment and are very risky. There are definitely many engineering and technical challenges.
Today, Discovery Bay has been developed in two phases. The first phase is based on European-style low-density mansions and equipped with infrastructure, while the second phase is designed in a post-modern style.
Because the new airport plan will not be announced for another three years, Lin Zuhui feels that this is a huge opportunity!
His idea is to have a happy cooperation with the Cha Jimin family first, and then before the new airport is announced, let New Era hold part of the equity of Xiangjiang Industrial (which can be exchanged for cash or new shares) and share in the future development of Yujingwan
dividend.
Of course, he doesn't know anyone from Cha Jimin's family, but Zheng Yutong has a good relationship with Cha Jimin, and the two parties are already discussing cooperation in the third phase of Yujingwan (ps: there were 15 phases in the previous life, which could provide housing for more than 20,000 people)
Half of the low-density communities in the area are not Chinese. There are several five-star hotels, shopping malls and other complete facilities in the area. It is also close to the Disney Industry, making it a city within a city. The entire project is listed as a classic operation in the history of real estate.
, used as a model by mainland real estate developers).
Naturally, Lin Zuhui also participated through Zheng Yutong!
This kind of cooperation is normal. For example, if Li Chaoren likes a certain project of New World Development, he will make an appointment to play golf together; and then say, I am very interested in this project, and Zheng Yutong will naturally not refuse, and then he will
Do it with friends.
For the wealthy people in Xiangjiang, it is normal to cooperate together. In addition to human relationships, there is a fundamental reason: that is, everyone likes to diversify their investments. For example, you may lose money in one project, but if you take the money from this project to
If you do five projects (joint ventures), even if one of the five projects loses money, it will not affect the overall investment.
This is a strategy for doing business!
Faced with Zheng Yutong's question, Lin Zuhui answered honestly: "Well, Royal View Bay is on Lantau Island, and the new airport may be built there in the future. I want to take a gamble and join you in the development!"
Zheng Yutong nodded and said cheerfully: "Then I'll make an appointment with Jimin and let's have a meal together!"
He was thinking that everyone would be happy if New Era Real Estate wanted to participate, and it could share some of the risks; of course, New Era Real Estate would only join as a third shareholder.
But what Zheng Yutong doesn't know is that Lin Zuhui is planning one thing, that is, before New World invests in Heung Kong Industrial and before the news of the new airport plan is released, he plans to invest in Heung Kong Industrial in 1988 and strive to win 10%~15 % of shares (cash or share exchange).
This is a normal investment and does not offend the Zheng family. After all, they can also invest in Heung Kong Industrial.
For the Cha family, the investment in developing Discovery Bay is too high, so it would be a good thing for someone to participate; and once it is a share exchange, as long as New Era is a high-quality real estate stock, everyone will be happy.
After a round of golf, we basically agreed on a cooperation!
After this cooperation is over, Lin Zuhui will also broker a cooperation at the end of this year, that is, to unite with New World and win the "Twin Towers"; of course, New World's rights and interests will not be very high.
Speaking of this "Twin Towers", it has a lot to do with Zheng Yutong. At that time, the consortium led by Hang Lung lost this project and also lost 400 million in tart booking fees. New World Real Estate was the second shareholder of this consortium.
Even after Hang Lung withdrew, New World still wanted to struggle; unfortunately, Hang Seng Bank, which had a good relationship with Zheng Yutong, also refused to lend money to this project because the risk was too great. The land compensation fee at that time was as high as 1.9 billion.
In September 1984, a company formed by Xinhe, Everbright, Nanyang Consortium, and Nippon Consortium won the bid for this project with a "cold hand holding a hot frying pile". The price was much lower than 1.9 billion, only 380 million. Hang Lung He New World did not participate in this bid due to unfriendly relations with the subway company (losing 400 million subscriptions), but Hang Lung won the development rights for the remaining seven subway stations.
This project cost approximately 1 billion based on the land supplement fee plus construction fees and taxes. However, in 1987, the new consortium could sell the project for 1.9 billion by selling its main interests, making a conservative profit of around 1 billion.
.......
The Cha Family is a consortium that started in the textile industry. Since the 1980s, labor costs in Xiangjiang have increased and the textile industry has been depressed. The Cha Family has cooperated with real estate developers such as New World to develop properties on the former factory buildings, so the relationship between the two parties is relatively good.
With Zheng Yutong as the matchmaker, it was natural for Lin Zuhui to hook up with the Cha family.
In the private room of the hotel, Cha Jimin and his son Cha Maosheng attended the banquet. Zheng Yutong and his son also participated in the banquet. Everyone was very enthusiastic when they met.
"I heard that you often accompany Xiao Cha to eat hairy crabs and watch movies?" Cha Jimin said with a smile.
Cha Jimin and Cha Liangyong (Jin Daxia) both come from the Zha family in Longshan, Yuanhua Town, Haining, Zhejiang. Cha Jimin is 10 years older than Jin Yong. In terms of seniority, Cha Jimin is Jin Yong's grandfather, but the two often call him " They call each other "Lao Cha" and "Xiao Cha". The two of them have been working together to draft a plan recently. Maybe I heard Daxia Jin mention Lin Zuhui.
"Not often, he is quite busy!" Lin Zuhui responded.
This is true. The relationship between Lin Zuhui and Jin Yong can only be said to be acceptable, far less than the relationship between him and Yu Pinhai in his previous life. After all, there are still three years until Mr. Jin retires, so we can't let Lin Zuhui, a busy man, accompany Jin Yong once a week!
"I see you are even busier! It's amazing that the candidate for one of the top ten financial groups in Hong Kong is actually a young man in his twenties!" Zha Jimin praised.
"It's all the media that is praising me. Stop making fun of me!" Lin Zuhui said modestly.
Cha Jimin nodded, pointed at Cha Maosheng and said, "You can have more contact in the future!"
Lin Zuhui said modestly: "I will ask Mr. Cha for your advice in the future!"
Cha Maosheng also responded: "Don't dare, don't dare, with this cooperation, we are friends!"
After a brief acquaintance, everyone became familiar with each other, and they all talked about business matters, especially real estate matters. The Cha family has a large business territory, with their textile industry all over the world, and their business covers China, Southeast Asia, Africa, Europe, America and other places. Since the 1980s, the Cha family has also extended its business to the real estate industry.
The meal was very enjoyable, and Cha Jimin quickly agreed that New Era Real Estate would participate, holding 15% of the shares, while New World Real Estate would hold 25% of the shares. Of course, the cooperation discussed was only for the third phase of Yujingwan. There are still many issues left!
Lin Zuhui once again felt that it is good to have connections, otherwise many projects would not be possible even if there is money.
...
At the end of May, New Era Real Estate spent nearly 200 million to acquire land at a government land auction. Even the top ten real estate developers did not dare to try its talents, which shocked the real estate industry in Hong Kong for a while.
This company is developing so fast. Although there is still a big gap between it and the top ten real estate developers, its emphasis on land reserves is very large.
Someone has calculated that New Era Real Estate needs to pay 165 million in interest to banks a year (1.5 billion in loans, 3.2 billion in asset value). The interest rate immediately makes medium-sized real estate developers feel as if they are overwhelmed by the weight of the mountain.
This is the price for New Era Real Estate to strengthen its land reserves. If it only makes profits from the properties it develops, about 50% of its profits will be swallowed up.
Therefore, such a reckless increase in land reserves has been criticized by some people in the real estate industry. It is like a snake swallowing an elephant, which is extremely risky.
However, some people pointed out that New Era Real Estate's non-recurring profits this year have reached 135 million (foreign exchange profits), so others can naturally do this.
In fact, these people still don't know one thing, that is, New Era Real Estate is speculating on industrial buildings this year and is expected to make a profit of 150 million to 200 million by the end of the year.
New Era Real Estate invested 70 million last year and bought a large number of industrial buildings with five times leverage. Currently, industrial buildings are experiencing a crazy rise because there are basically no industrial buildings built in Xiangjiang from 1982 to 1984.
At the beginning of this year, demand for industrial plants in Xiangjiang was already in short supply, and it has already risen by 20% in five months.
In the conference room of New Era Real Estate.
Lin Zuhui listens to reports from senior executives. In most meetings, he names a certain executive and asks him to endorse a project for which he is responsible.
"Director Chen, how is the recruitment of senior staff in your property development department going?"
Compared with large real estate developers, New Era Real Estate undoubtedly has a shortage of talents. After all, it is developing too fast and there is no time to train it yourself. Fortunately, in this era, as long as you have money and the company has prospects, you are not afraid of not having senior staff to invest.
Chen Bin quickly said: "We have added 8 senior staff this month and are still recruiting. It is expected that the company's next phase of talent needs will be met in June."
Lin Zuhui nodded and said: "Yes! It is urgent to enhance our strength in real estate development. Our land bank has reached a higher level, but our strength in real estate development has not been able to keep up. So this time, I hold the promise for the newly recruited senior staff.
There is great hope, don’t let me down. At the same time, I will also shift the focus of my work to your department!”
Chen Bin felt a shiver in his heart. He knew that the boss was very quick to learn the construction, materials, and construction of the real estate. Moreover, the boss was very familiar with Xiangjiang's building regulations, and he was also very proficient in the price and quality of materials;
Therefore, no subordinate can get away with it in his hands.
"Okay, boss!"
Chen Bin has decided to strengthen the management and development of the property department. Although New Era Real Estate has always had strict and perfect management, the boss has high requirements after all.
Lin Zuhui really cares about all aspects of construction. He often goes to construction sites when he has time, climbs directly on them, and communicates directly with the workers.
He will personally supervise every real estate project to avoid irreparable losses. People say that bosses have limited energy, but Lin Zuhui’s brain and energy are indeed far better than ordinary people, and he can grasp the essence of things.
After the meeting, Lin Zuhui called Liang Zhenxun: "You arrange for someone to inspect Cathay Real Estate, and then assuming we acquire it, you first give me a preliminary plan!"
Liang Zhenxun sighed inwardly. The boss really kept expanding the company. It had only been two months since he acquired Chinese Land and China Entertainment, and he was considering acquiring them again!
"Okay, I'll make arrangements!"
Lin Zuhui nodded and said: "Don't make any noise, I haven't made a decision yet! Even if the acquisition is made, it will be at the end of the year."
"I see!"
After Liang Zhenxun left, Lin Zuhui began to think about using acquisitions of companies to expand the new era real estate system. This was one of his strategies;
He had read an article in his previous life: It was said that Luo Xurui first won Century City, and then after reorganizing its assets, he then used Century City to win Regal Hotel and Bailibao (he himself had nearly 30% of the shares, second only to Wei Li).
); After having three listed companies, Luo Xurui then acquired Cathay Real Estate in 1987. Cathay Real Estate's assets increased sixfold in three months. Later he acquired Fuli International Real Estate, which was originally a business
U.S. real estate investment.
Of course, Lin Zuhui also wants to win over Cathay Real Estate and Fuli International, especially Fuli International, which can serve as the flagship for his companies to invest in the US real estate industry in the future, and Cathay Real Estate can also increase the strength of the new era real estate system.
Cathay Real Estate's Lin Zuhui did a simple investigation and found that the asset value was very high and the debt ratio was also high; to be honest, he did not have the confidence to turn decay into magic like Luo Xurui did.
However, he will not forget that with the help of a group of talents under him and the help of Liang Botao, a master of market securities and capital operations, success may not be impossible.
In addition, Lin Zuhui also studied the cases of Wei Li's reorganization of Regal Hotel and Bailibao, and learned a lot from them!
Generally speaking, asset reorganization must have the support of banks to buy the company time; when Wei Li and Luo Xurui seized Regal Hotel and Bailibao from Luo Yingshi, these two companies suffered serious losses, and Wei Li took advantage of
Through the relationship with HSBC, we obtained a huge loan of 760 million!
The second step is to sell assets, add new shares, and repurchase new assets, which will ultimately allow the company to increase its asset value.
The rise of New Era Real Estate is fundamentally similar to Chen Songqing’s methods, and is not as professional as Weili’s reorganization of Regal Hotels and Bailey’s.
As for Cathay Real Estate this time, Lin Zuhui has actually decided to win it. After all, it only cost a little over 100 million, just in time to test the level of his team.
It can also inadvertently attack competitors, which can be said to kill two birds with one stone.
Of course, we have to wait until the end of the year!
New Era Real Estate actually has no money, and the current problem can only be solved by raising funds through rights issues.
Either they wait to digest the fruits, but Lin Zuhui is worried that Luo Xurui will take the lead next year, which will be a loss.