In the afternoon of the same day, Li Jianhui met again with Tay Hong Piow, the founder of Maybank Public Bank, but the result was still the same as in the morning.
At this time, Li Jianhui also realized that he thought he could win over these people if they were not core members of the Nanyang Consortium. Now it seems that he is overthinking.
These well-known Chinese families in Southeast Asia mainly come from two places, one is the Chaoshan area, and the other is Fujian Province. The relationships between these families are complicated, and the core members of the Nanyang Consortium are from these two areas.
Even if there are disputes over some businesses, they will not unite with outsiders to suppress fellow villagers. This is somewhat similar to Hong Kong before the 1970s.
He felt that he needed to adjust his plan. Next, he planned to visit some families who, although they could not compete with Zhong Tingsen, Li Shenjing, Lin Wutong, Zheng Hongbiao, etc., had a certain reputation in Kuala Lumpur and whose ancestral roots were outside these two places.
.
Li Jianhui was waiting for news from the political and economic office in the hotel. Unexpectedly, a Malay-Chinese business founder came to the hotel in person and wanted to visit him.
With the attitude that nothing happened anyway, and in such a place, a Chinese was visiting, Li Jianhui also wanted to see what the purpose of the visit was.
In the living room of the suite, Li Jianhui saw the person coming.
When he introduced his name as Cai Junxiong, Li Jianhui didn't react much, but when he mentioned the company he founded, Cosway, which is a retail chain focusing on discounts, Li Jianhui suddenly remembered.
Cosway was only founded last year and currently does not have much influence. Naturally, it is not among Li Jianhui's allies.
If Cai Junxiong hadn't arrived, he wouldn't have known that Cosway had been established at this time.
Although this company is not very good now, it will become a well-known presence in the retail industry in the future, with stores all over Southeast Asia and Greater China.
I don’t know if it was because Cosway encountered difficulties in its early development that Cai Junxiong actually asked the Berjaya Group to acquire the company he founded, but he himself has been serving as the president of this company.
Looking at Cai Junxiong, who was not much older than him, Li Jianhui said: "Mr. Cai, I am very happy to meet you. I wonder what you are here for today? If I can help, I will do my best."
Cai Junxiong is not naive enough to think that he can get free help from Li Jianhui. He came to visit Li Jianhui this time because he knows that Li Jianhui owns Tesco Group, the largest retail industry in Hong Kong, and this group will also enter the Malaysian market.
He came to Li Jianhui in the hope of persuading Li Jianhui to invest in Cosway. Cosway, which had just started its business less than a year ago, was currently facing the risk of a broken capital chain.
Cai Junxiong is not willing to let his ideals go to waste. He firmly believes that the discount store business model will be welcomed by the market in the future.
This morning I saw the news on TV that Minister of International Trade and Industry Hu Kern met with senior officials of the Xinjian Department, which made Cai Junxiong seem to see a glimmer of hope.
Tesco Group owns Lane Crawford supermarket stores, Watsons, a supermarket chain that specializes in beauty cosmetics, maternal and infant products, beverages and other subcategories, IKEA, a convenience store model, and Tesco, a chain that mainly sells home appliances.
He feels that Li Jianhui and Tesco executives are willing to explore more business models. Although Cosway currently has only two stores, he believes that this model can convince Li Jianhui to invest.
Listening to Cai Junxiong's intention, Li Jianhui had the feeling that he could not find anything despite his hard work and that it would take no effort at all.
I tried to win over one family after another but failed, but I didn't expect that a talented person would come to my door now.
He smiled and said: "Mr. Cai, your idea is indeed good, and operating a discount store is also very novel. Although there are some difficulties currently due to various reasons, I believe that under your leadership, we will be able to shine in the future.
I just don’t know how much financing you plan to raise and how many shares you can offer?”
Cai Junxiong had obviously made various plans before coming. As soon as Li Jianhui finished speaking, he immediately told his plan.
Li Jianhui listened to Cai Junxiong's story and lamented that the other party was really a genius in this field. It was also because Cai Junxiong's current founding capital was too low, and the logistics and procurement were not perfect, otherwise he would not be in such a dilemma.
When it comes to shares, Cai Junxiong is also quite generous. He knows very well that if the shares are too small, Li Jianhui will never invest in him, and will choose Tesco Group to build a similar company. In the face of capital like Xin Jianxi, he currently
It's hard to compete with that.
He had heard about the performance of the predecessor of Tesco Group in Xiangjiang, and had been engaged in a price war with Wellcome Supermarket for more than a month. He didn't care at all whether he would lose money. His only purpose was to wipe out his opponent from the market.
If Tesco Group comes to Kuala Lumpur like this, the already difficult situation of Cosway, which is owned by him, will directly collapse.
However, he also wants to take control of the company. He can give Li Jianhui more than half of the shares, but he still has the final say in the management of Covas.
This is a bit similar to the system that companies will adopt in the future. Even if they only hold a few percent of the shares, the founders still have the final say.
Fortunately, Li Jianhui had no intention of bringing Cosway into the Tesco Group, and he did not refuse Cai Junxiong's request.
According to Cai Junxiong, the current two Cosway stores, coupled with the added value of the business model, are priced at approximately HKD 5 million after financing.
Li Jianhui was too lazy to send someone to evaluate it. He directly followed Cai Junxiong's conditions and raised 3 million yuan, occupying 60% of the shares. At the same time, he promised that Xinjian Bank would lend Cai Junxiong about 1 million Hong Kong dollars, and both parties would pay Cosway in proportion.
Company capital injection.
Through this, Cosway will have approximately 5.5 million Hong Kong dollars in cash, which can not only solve the company's current tight capital chain problem, but also accelerate the expansion of Cosway.
This company is also run by Cai Junxiong, otherwise Li Jianhui would not have such funds. For example, Tesco Group, after injecting HK$500 million through Wheelock Holdings, is now expanding very rapidly in Baodao.
Since Cai Junxiong wants to firmly control this company, Li Jianhui will let it develop slowly. He will not participate in the discount store, but it reminds him of Costco and Sam's Club.
Li Jianhui, who aspires to build the world's top department store retail company, will naturally not give up this model. He plans to establish a retail company with a membership store model similar to it after returning to Hong Kong.
For several million Hong Kong dollars, Li Jianhui did not use the name of Xinjian Investment Company, but directly used his own name for the time being. After Li Zaiwei's new investment company was established, he would transfer the shares to a new investment company.