Chapter 1173 Oil and Mining Companies

Xia Yu was very satisfied with the results of the Galaxy Fund in this operation.

In this battle, his small treasury, which was about to bottom out, was filled up again.

He holds more than 44 billion US dollars of liquidity, and can draw at least 10 billion US dollars of funds from the consortium at any time. Although this huge wealth cannot allow Xia Yu to do whatever he wants in the world, it can also be achieved. a lot of things.

As for the equity of oil fields, mines and companies in the corresponding fields in Latin America and other 19 countries that are now worth US$14.7 billion, Xia Yu has learned it in detail.

Among them, various mines and mining companies have more equity, and Galaxy Fund spent nearly 7.8 billion US dollars to buy them at the bottom.

The oil field and oil company's equity was purchased at a bargain price of US$6.943 billion.

Of course, these two types of assets were bought at the bottom of the trough. If they are placed before the outbreak of the sovereign debt crisis in Latin America and other countries, the value will at least double, which means that the combined value of these assets is more than 30 billion US dollars.

It's just that there is no market at present, and the bad situation in Latin America and other countries has also led to the poor operation of companies in these countries.

Now the international crude oil price has been going downhill after the previous price of 39 US dollars a barrel, and now the life of oil companies is getting more and more difficult.

Moreover, according to the current global economic situation and historical trends, the international crude oil price will continue to decline in the next three or four years, and it will even plummet to a trough of around ten dollars a barrel before it starts to rebound.

But that price will kill a lot of oil companies, bring many oil companies around the world to the brink of bankruptcy or bankruptcy, and lead to a series of mergers and acquisitions in the oil field around the world.

And the mining sector is also bad, and in the context of the global economic slump, the industry can't stand up.

And iron ore, the biggest pillar of the industry, needs iron ore.

Xia Yu is very clear that from the oil crisis in 1973 to the present, and even in the next ten or twenty years, the global steel industry is difficult to do, and the American steel industry lacks international competitiveness.

In 1979, U.S. Steel, a subsidiary of the Cleveland consortium, lost more than $800 million and thirteen of its steel plants closed down.

In recent years, there have been steel companies going bankrupt, and a lot of steel companies will go bankrupt and reorganize in the future.

It was not until 2008, when Huaxia was buying and buying around the world, that the iron ore industry rose to prominence, and the price of most other metal ores soared.

So now is not the best time to get into oil and mining.

Whether it was in 1985 or 1987, there were excellent opportunities, but now forcibly entering, it will be laborious and expensive. This is not what a wise man calls.

After all, it's not that he has a lot of money and nowhere to spend it, not to this point.

Therefore, Xia Yu only intends to get started temporarily.

So he set up two offshore holding companies, Pacific Oil Company and Blue Star Mining Company, and put two types of assets under the names of these two companies, which are responsible for supervision.

The shares of these two holdings have been very complicatedly hidden. Unless all three offshore paradises in the world are open to secrets, no one can identify these two companies as having a relationship with Xia Yu.

In addition to Galaxy Fund, Xia Yu also learned about companies such as Bright Fund, Polaris Capital, Jiuding Bank and Jiuding Securities.

These companies have all received Xia Yu's reminder, so they all took action before the outbreak of the Latin American sovereign debt crisis, and this time they also made a lot of money.

The combined profits of the four companies amounted to $9.7 billion.

It's just that Xia Yu didn't transfer the money. As the assets of these four companies, Peter Lynch and George Berkeley and others used them to strengthen their respective companies.

After all, whether it is Bright Fund or Polaris Capital, in Xia Yu's mind, it is equivalent to a consortium entering Europe and the United States, and the demand for funds is simply not too much.

Jiuding Bank and Jiuding Securities, as two giants in the financial industry, want to wrestle with the world giants, the demand for funds is also extremely amazing.

In the following time, Xia Yu plunged into the annual reports of various companies, held meetings almost every day to read documents, and sometimes visited some companies on the spot to understand the most real situation.

Of course, aside from a few minor issues, he didn't see a big corporate corruption problem.

This is also related to the approval mechanism and management mechanism for the use of funds determined by him.

Large sums of money must be reported to him, and the chairman's office is responsible for reviewing them before giving them to him. There are double restrictions.

The most important thing is the management mechanism.

This has to mention the standard accounting firm in his hands, the largest accounting firm in Asia.

The financial departments of each company are established by the standard accounting firm, and in order to prevent the accountants of the firm from being in trouble with the company's personnel, the financial dispatch time is also half a year, and then randomly assigned.

To be more specific, the financial department of each company is not linked to the performance of each company, and wages and bonuses are issued by standard accounting firms, which have no interest in themselves and can be disregarded.

The accountants will be broken up and regrouped every six months, and the company to be settled will be randomly selected, which avoids the risk of collusion and corruption caused by an accountant staying in a company for a long time.

In addition, at the group level, special personnel will be specially selected to form an audit investigation team, and the audit investigation team will audit the financial affairs of each company throughout the year.

If there is a financial problem in a certain company, and the dispatched financial personnel does not find it, once the problem is found by the audit investigation team, it will be dealt with according to the situation.

If it occurs within the financial department's resident period, the financial department will be dealt with and reported to the top, and then the top will be fed back to the company for disposal.

If it is a problem during the tenure of the predecessor or the former’s ex-posted financial department, and it is not discovered until the subsequent audit, then the post-posted financial department in the period in which the problem occurred is primarily responsible, and each subsequent financial department is responsible for it.

As for the salary and bonus of the audit investigation team, it is linked to the problems they find out. The more and more serious problems are found, the more generous the bonus.

So every time the audit and investigation team can't wait to turn it over and find out all the problems.

These reward and punishment measures and management regulations are like high-voltage wires woven into a mesh, which greatly stifles the problem of corruption before it germinates, and guarantees Xia Yu's interests to the greatest extent.

This set of mechanisms was formulated by Xia Yu in combination with the political mechanism of the previous Huaxia.

I have to say, very effective.

In addition to the fact that many problems were found when the mechanism first started running, as time passed, fewer and fewer problems were found.

It is not that the regulatory mechanism is ineffective, but that fewer and fewer people dare to take risks.

When Xia Yu was sorting out his assets.

Chen Caijun has taken the team of Tiangong Automobile Group and flew to Geneva, Switzerland with the exhibited cars.

At this time, other large and small car companies around the world also came here with masterpieces that will be mass-produced this year or in the next few years.

Come here together, as well as media from all over the world.

The Geneva International Motor Show, Switzerland, is about to open!

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