Chapter 526: Injecting Funds to Save Dong
Chapter 526: Injecting Funds to Save Dong
Wang Dingyu had been in Haojiang before, and he couldn't help but frown when he heard this: "Mr. Yin, the Dong family has close ties with the Taiwan Province. Is it really profitable to save the Dong family?"
"If the 1.2 billion yuan project is to be wasted, it will hurt the country."
If Yin Zhaotang had not already joined the association and was considered one of their own, he would have suspected that the Hong Kong businessman was committing fraud.
Yin Zhaotang joined the club first and advocated it later, so he deliberately gave away the initiative to show his sincerity: "After the old boss passed away a few years ago, Oriental Overseas has been getting worse year by year."
"There's no money left, and the Taiwan government doesn't bother to care."
"Brother Hua is now going around Hong Kong Island to raise money. He will follow whoever can save him."
It sounds harsh, but politics is extremely realistic.
He explained the project in detail: "Brother Hua's ability is actually quite good. He just made the wrong bet and expanded blindly, and did not expect the Iran-Iraq War to break out."
"In addition, in the past two years, the Sino-British game, the turmoil in Hong Kong, and financing difficulties. But OOCL's assets are quite good and have strategic significance."
Orient Overseas Container Line has three major businesses: shipping, terminals and logistics.
Unlike the sub-leasing of Global Shipping, all of the more than 100 ships are self-owned.
In the mid-70s, orders for new ships continued to be placed.
The reason why it was on the verge of bankruptcy this time was that a new ship was to be delivered and the final payment had to be made to the Rijima Shipyard.
Its asset characteristics are hard and heavy.
It’s an exaggeration to say that Orient Overseas has no market value, but Brother Hua really can’t afford to pay for it.
In the 80s, domestic goods were exported through Hong Kong Island. Strategically, it was of great significance, and taking over OOCL was a good thing that achieved multiple goals at one stroke.
For this reason, historically, China took over the entire company and injected HK$1.2 billion through Fok Kwun Tai, first taking over the shares of OOCL and then nationalizing it.
Dong Shao retired from the business world and, as a typical example, entered politics.
For a person who has a family business under his control, it doesn't matter what he believes in his heart, but who he feeds is more important.
Zuo Shou took out the printed plan and handed it to Wang Dingyu, Wu Qi and others to review, even Dabu Niu had a copy. Without waiting for Wang Dingyu to express his opinion, Dabu Niu shouted first: "I support Yin Sheng. Acquiring Orient Overseas is a good thing to make money and gain a reputation. The number will help inject 100 million Hong Kong dollars."
"Follow me."
Although Tai Po Niu couldn't afford HK$100 million, Ge Zhixiong did. As the new leader hand-picked by Yin Sheng, he must not be deaf and dumb when it's time to contribute.
Wang Dingyu glanced at Dapu Niu, read the project book carefully, took it in his hand, nodded and said, "Okay, I will send the document up."
Even if the project is rejected, they are not responsible. They will definitely do the job even if it is a piece of cake.
However, if the project is approved and has a positive effect in the future, the Zhigong Association will have made a new contribution. Zhongyitang and the Number Gang invested a total of 300 million yuan, which means they bear a quarter of the risk, so it is not a free-for-all.
The 1.2 billion yuan is indeed a big deal, and it is very reasonable to ask the country to help. It also shows that Zhongyitang governs Hong Kong for the country and has the motherland in mind.
After the work was done that day, on the next day, Yin Zhaotang and Dapu Niu came to join the committee and were formally elected.
In the afternoon, at the monthly meeting of the preparatory group, Yin Zhaotang wore the Zhi Gong Hui badge on the top of his suit pocket and attended the meeting. When Liu Huangfa, Li Fushan, Guo Desheng, Luo Dechen and other committee members saw the badge on his chest, their faces changed.
"How treacherous."
They didn't get into D.
Even the democratic faction dare not join, for fear of giving the authorities an excuse to investigate their family business and hinder their career. After all, there is no domestic D faction in the Hong Kong British legal system.
Everyone had no guns in their hands, so they acted very carefully and did not dare to be as reckless as Yin Zhaotang.
I fell behind in an instant.
Liao Runchen stroked his long beard, his face was full of joy, and he said with a smile: "Atang, you have made great progress."
Yin Zhaotang smiled and said, "I was originally a member of the Zhi Gong, I just restored my status."
Luo Dechen cursed inwardly that it was shameful, but Qian Qichen, chairman of the preparatory group, was full of admiration and nodded frequently. In the political arena, being clear-cut and enterprising is a good quality.
With the Zhi Gong Bao spreading throughout the country, the news that Yin Zhaotang had joined the Zhi Gong Hui in China could not be concealed, nor was there any need to conceal it. After returning to Hong Kong Island, he vacated a 2,000-square-foot office in the Chung Yi Building to serve as the Hong Kong branch office.
Zuo Shou served as the director of the office, Yin Zhaotang served as the chief, Dapu Niu and Ge Zhixiong served as deputy directors.
In the eyes of Zhongyitang disciples, the Hong Kong branch is another flag of the society. They apply to join one after another, hoping to gain a reputation. The most important achievement of the new branch is, of course, to recruit members and develop strength.
The Tai Po Niu was even busier, trying to attract members of the Number Gang to join the organization, and also trying to accumulate strength to deal with Ye Suping and Chen Qinghua. The underworld was in an uproar for a while, and many bigwigs from Xinji and Heji applied to join the organization.
However, Zuo Shou obeyed the orders of the big boss and was a gangster who engaged in "powder" and "population" businesses and refused to join the gang.
Only those who are in charge of business, entertainment and factories are recruited.
In addition, employees of electronics factories, factories and other regular industries, as well as lawyers, doctors and others, were also included in the scope of recruitment. Originally, these people were not the development targets of the Zhi Gong Hui, but as a faction operating in Hong Kong Island and establishing a branch, it took advantage and really recruited a lot of "social elites".
When the Oxen Movement was in full swing in Tai Po and the troops were being assembled, Dai Zidui brothers and Ye Suping were fighting on the streets, a news came back from China.
The project to acquire Orient Overseas has been approved, and an acquisition team will be set up. Representatives from China will arrive in Hong Kong to lead the negotiations, while Yin Zhaotang and Tai Po Niu will only serve as consultants.
If the Chinese government is willing to spend 1 billion Hong Kong dollars to rescue Dong, they must want controlling rights.
However, once OOCL survives and its share price rises, Yin Zhaotang will get the profits he deserves. In addition, word has spread in China that OOCL's cargo ship capacity will be fully open to Yin Zhaotang.
Yin Zhaotang was not interested in the shipping company. Although shipping made money, the capital was not enough, so he had to expand his financial resources first.
In the arms business, the biggest fear is not being able to rent a ship.
Other shipping companies are unwilling to rent ships for fear of being hit by missiles at sea. They only think it makes the most sense to use Chinese-controlled shipping companies and sell Chinese-made equipment.
Cargo ships are the warships of the capital world!
(End of this chapter)