Chapter 856: Jianing Reorganization, Malayan Visitors (Two in One)
Back in Hong Kong, without any major incidents, Lin Baicheng was immersed in the laboratory.
Lin Baicheng was immersed in the laboratory, but it did not affect some things happening in the outside world.
First, three days after Lin Baicheng and Shen Zhou reached an agreement, the Commercial Crime Investigation Department made great progress in the investigation of Chen Songqing's financial fraud and confirmed that the Jianing Group had financial fraud.
Without the obstruction of HSBC and British capital, the efficiency of the Commercial Crime Investigation Department immediately increased.
Although the Commercial Crime Investigation Department cannot determine the specific amount of financial fraud of the Jianing Group at present, the financial fraud is certain, so Chen Songqing was detained in the police station. This time, even if HSBC and British capital wanted to redeem him, it would not work.
This news was spread on the same day, and then the share price of the Jianing Group, which had already fallen a lot, fell again, and it fell by more than 20%.
This time, HSBC and British capital did not care about the decline in the share price of the Jianing Group, and let the share price fall. They did not spend money to stabilize the share price, let alone raise the share price.
Now, stockholders are becoming more and more pessimistic about the stock of Jianing Group.
Stockholders who still hold Jianing Group stocks either have fallen too much and can no longer move, and are reluctant to sell their stocks, and have the intention of betting on the rise of Jianing Group; or because the stock price of Jianing Group fluctuates greatly, they enter the market to gamble and quickly enter and exit the market. The T+0 system of Hong Kong stocks allows funds to enter and exit quickly, so that they will not be trapped all at once.
Of course, the T+0 system does not mean that people will not be trapped. Some problematic stocks will fall even more terribly. They will directly fall by more than 90% in one minute, making it difficult for stockholders to react, and basically all their investments will be lost.
After Friday, the market value of Jianing Group was only 480 million Hong Kong dollars, which was 83.56% lower than the previous high of 2.92 billion Hong Kong dollars, which means that stocks with a market value of 10,000 Hong Kong dollars are worth less than 1,700 Hong Kong dollars.
Such a horrible decline, and the time has only been about one month, which is unacceptable to most people.
On Monday, a piece of news about the Jianing Group spread throughout Hong Kong, shocking the shareholders and creditors who held the shares of the Jianing Group.
HSBC, Jardine Matheson, and Swire Group, the three shareholders of the Jianing Group, reorganized the Jianing Group after the board of directors passed it, and obtained the approval of the China Securities Regulatory Commission.
This is not the point. The point is that after the reorganization, the Jianing Group became two companies. The original company is still called the Jianing Group and holds a large number of assets of the Jianing Group. The new company is called Jiale Real Estate. All the real estate resources of the Jianing Group have been injected into this real estate company, and it also bears all the debts of HSBC.
In the public announcement, Jiale Real Estate's total assets are 1.15 billion Hong Kong dollars, with a debt ratio of 65.22%, a debt of 750 million Hong Kong dollars, and the company's actual net assets are only 400 million Hong Kong dollars.
The point is that Jiale Real Estate only bears the 750 million Hong Kong dollars of HSBC's debt, and other debts have nothing to do with Jiale Real Estate. At the same time, the shareholders who originally held the shares of the Jianing Group only hold 20% of Jiale Real Estate's shares, and the remaining 80% of the shares are still held by the Jianing Group.
How to say it, the shareholders who originally held 100 shares of Jianing Group now hold 20 shares of Jiale Real Estate and 80 shares of Jianing Group.
In this way, it is equivalent to that the shareholders only hold 20% of Jiale Real Estate, and the three HSBC giants hold 80% of Jiale Real Estate.
Let alone the shares of Jianing Group that HSBC bought earlier with financing, Hutchison Whampoa sold 25.62% of the shares to HSBC and the other three companies for HK$692 million. HSBC and the others are still losing money now. After all, the net assets of 80% of Jianing Real Estate are only worth HK$320 million, but after the reorganization, their losses are at least not as large as before.
Besides, HK$320 million is the net assets, not the stock price. There is a difference between the two.
The reorganization of Jiale Real Estate and its separation from Jianing Group did not please the creditors and shareholders of Jianing Group and they all expressed their opposition.
Everyone is not stupid. Anyone with a discerning eye can see that after the reorganization, Jiale Real Estate holds the most valuable assets of the Jianing Group, which is equivalent to hollowing out the Jianing Group. The remaining Jianing Group is simply unable to repay the creditors. Without valuable assets, the company's stock price will definitely fall, and it may even be delisted, which means that the company's stocks held may become waste paper.
Although HSBC gave a little compensation, only 20 shares of 100 shares were left, shrinking by 80%. How can shareholders accept this?
Whether shareholders and creditors accept HSBC or not, they don't care for the time being. Anyway, after announcing the company's reorganization, Jiale Real Estate subsequently announced that the company has applied to the China Securities Regulatory Commission for listing, and the listing time is expected to be next Monday.
Jiale Real Estate is so awesome that it applied for listing this week and can be listed next Monday.
In addition to the lack of supervision in this era, it is also related to the strong strength of HSBC, Jardine Matheson Group, and Swire Group.
For HSBC and the other three, the most important thing now is to get Jiale Real Estate listed, so that the company's stock price will rise and the value of their shares will increase greatly. Even if they cannot return to the market value of the shares of Jianing Group they originally held, the difference should not be too big, so that they can give an explanation to the insiders.
As for the opposition of the creditors and shareholders of Jianing Group, they can slowly file a lawsuit. The external conflicts can be completely resolved by using the power of each company.
"HSBC is ruthless enough!"
Lin Baicheng couldn't help but feel a little emotional when he heard the news in his spare time.
By doing this, HSBC and others must have harmed the interests of the creditors and small shareholders of the Jianing Group, but by doing so, they have preserved their own interests.
Therefore, don't look at ruthlessness, but it is beneficial to HSBC.
There will be lawsuits later, but with HSBC’s energy, they are certainly not afraid of lawsuits. Furthermore, HSBC and others will not always be shareholders of Jiale Real Estate. Once Jiale is listed and the stock price rebounds to a certain price, HSBC and others will definitely choose to reduce their holdings in order to withdraw funds and reduce losses.
If HSBC and the others really wait until one day to sell all their shares, then all the lawsuits of Jiale Real Estate will have nothing to do with them. Even if Jiale Real Estate is saddled with a lot of debt, they will not lose anything because they have left the market. .
Lin Baicheng only paid a certain amount of attention to this matter and did not participate in it. After all, neither Jianing Group nor Jiale Real Estate had anything to do with him. In the absence of a conflict of interest, Lin Baicheng does not need to create a conflict between the small shareholders of Jiani Group and HSBC.
To uphold justice for others, Lin Baicheng would not do such a thing foolishly.
However, just when Jiale Real Estate was reorganized and prepared to go public, something happened.
That is, Malayan Finance sent people to Xiangjiang, reported the case to the Xiangjiang Independent Commission Against Corruption, and at the same time applied to suspend the listing plan of Jiale Real Estate.
Many people in Xiangjiang are unfamiliar with Malayan Finance, but when it comes to Yuming Finance, everyone is familiar with it. As mentioned in the previously reported financial fraud of Jiani Group, Yuming Finance gave a large amount of financial loans to Jiani Group. This is the basis of Jiani Group’s financial fraud. It was Yuming Finance that gave Jiani Group or Chen Songqing the financial fraud. Confidence.
Yuming Finance is actually the financial institution of Malayan Finance in Hong Kong.
As for Malayan Finance, as you can tell by its name, it is related to the country of Malaya. It is a subsidiary of the Bank Negara Malaya.
To put it simply, the money of Yuming Finance is the money of Malayan Finance, and the money of Malayan Finance is the money of Bank Negara Malaya. The money of Bank Negara Malaya belongs to the country of Malaya and belongs to this country. people.
With such a big thing happening to the Carin Group, and Yu Ming Finance being mentioned, it would be unreasonable if Malayan Finance had no reaction at all.
In fact, if the person in charge of Yuming Finance's Xiangjiang was not bribed by Chen Songqing, and the person in charge harmed too many interests of Yuming Finance, and did not report the matter of Yuming Finance immediately, Malayan Finance would have come long ago.
When the people sent by Malayan Financial came to Xiangjiang, the first news they got was that the Jiani Group, which had received a large amount of loans from the company, had been reorganized. The reorganized company was about to be listed. The debts of Yuming Finance still belonged to the Jiani Group. , but Jianing Group has basically been hollowed out, leaving only non-performing assets, and all loans from Yuming Finance will not be recovered.
Faced with such a situation, of course the person refused to agree and immediately reported the case to the ICAC. At the same time, he applied to suspend the listing of Jiale Real Estate to prevent the company from not being able to recover a penny of the loan it gave to the Jiali Group.
In order to increase his influence, Noordin, the general manager sent by Malayan Finance to Hong Kong, even found a number of media and accepted interviews with the media. He said that he believed that Hong Kong is a place that pays attention to the law and it is impossible to allow investments from foreign countries to be approved. If he suffers losses through deception and other means, the Hong Kong government will definitely make the decision for future funds like his.
Of course, Nordin's words should be listened to in reverse, aiming to attract the attention of the Hong Kong government and prevent the reorganization and listing of Jiale Real Estate from succeeding.
At the same time, Nuoding not only talked loudly in newspapers, he also met some important figures in Xiangjiang, such as Guo Henian and Lin Baicheng.
When Lin Baicheng learned from Qin Lan that Nuoding had requested to meet him, Lin Baicheng hesitated for a moment, but agreed and met Nuoding.
Lin Baicheng has a large amount of investment in Malaya, and Thor Security's base is in Malaya. He and Malaya are currently in the honeymoon period of cooperation, and he really does not want to affect the cooperative relationship between the two parties.
After the meeting, as expected, Nordin asked Lin Baicheng to help Malayan Finance recover the loan lent to Jiani Group.
"President Nordin, how much money did Yuming Finance lend to the Carnegie Group?"
Lin Baicheng asked with curiosity. He only knew that Yuming Finance lent Chen Songqing a lot of money, but the specific amount was still unclear.
"It lent 3 billion Hong Kong dollars to Jiani Group, and also lent 1 billion Hong Kong dollars to Chen Songqing and other companies controlled by Chen Songqing, for a total of 4 billion Hong Kong dollars. If the financial fraud of Jiani Group had not been exposed, Yuming Finance would I will continue to lend money to Chen Songqing and Jianing Group until the day they are discovered." Nordin shook his head and sighed.
The total loan amount is 4 billion Hong Kong dollars, which is nearly 1 billion US dollars when converted into US dollars, which is more than Lin Baicheng's current president in Malaya.
"This number is too much. How did Malayan Finance approve it?"
Lin Baicheng couldn't help but click his tongue. You must know that the market value of Jiani Group at its peak was less than 3 billion Hong Kong dollars, but it had borrowed 3 billion Hong Kong dollars from Yuming Finance, not to mention loans from Chen Songqing himself and other companies.
Nuo Ding said in a deep voice: "The interest rate given by Chen Songqing was very high, and the person in charge here was bribed to report good news but not bad news, so this kind of mistake happened."
Nodding, Lin Baicheng stopped talking about this, but said: "Chief Noting, you may not know it when you first came to Xiangjiang, but my relationship with Yingzi is not good. If I intervene rashly, it will only intensify the relationship between myself and Yingzi." the contradiction between them.”
Nodding immediately said, "Mr. Lin, I can only seek your help now. I hope you can lend a hand for the sake of the superiors."
Shaking his head, Lin Baicheng said, "Chief Nodding, I can't help you personally, but I can introduce you to the Governor of Hong Kong, Sir Mac. As long as you visit Sir Mac as an official of Malaya and protest, I think Sir Mac will definitely not let Jiale Real Estate mess around in order to avoid international disputes, at least it can protect certain interests of Yuming Finance."
"In this case, then trouble Mr. Lin."
Hearing what Lin Baicheng said, Nodding felt a little relieved. It would be good if Lin Baicheng was willing to help a little, otherwise he really didn't know what to do. Lin Baicheng had a lot of investments in Malaya and gave up a lot of interests, so he couldn't threaten Lin Baicheng and could only ask Lin Baicheng for help. If Lin Baicheng didn't help, he had no choice.
Since he promised to help, Lin Baicheng would not go back on his word.
The next day, Lin Baicheng introduced Notting to Mai Lihao, and even said a few good words for Notting, reminding Mai Lihao to pay attention to the international impact.
After that, how Notting and Mai Lihao talked had nothing to do with Lin Baicheng.
For Lin Baicheng, he had no interest in this incident, and there was no need to be deeply involved in it.
HSBC's Shen Zhou and others saw the report and action of Malaya Financial, and they were also discussing how to deal with it.
Malaya Financial was not as good as those small retail investors, not as good as those local creditors. With the strength of HSBC and the other three, it was completely able to handle it. Malaya Financial belonged to the national bank of Malaya, and if it was not done well, it would cause an international incident.
Another point was that the loan amount of Yu Ming Finance, a subsidiary of Malaya Financial, to Jianing Group was too large, up to 30 Hong Kong dollars, which was not less than the investment of the three of them combined. With such a large amount of money, it is clear that Malaya Financial would not let it go.
In fact, they completed the reorganization so quickly and listed Jiale Real Estate immediately in order to catch Malayan Financial off guard and create a fait accompli. In that way, if Malayan Financial caused trouble again, they could deal with it slowly. However, they did not expect that Malayan Financial would send important figures to Hong Kong so quickly, so that their goal could not be achieved.