Rebirth of the Hong Kong Tycoon Era

Chapter 290 [Bank Bank]

At the end of December 1982, Galaxy Securities.

Lin Rongheng, Ye Tianhe, and Yuan Tianfan were discussing an important matter in the office.

Ye Tianhe said: "Hang Lung Bank experienced a serious loss of deposits after the collapse of Xie Liyuan Gold Shop and the collapse of Diners Club Finance. If we release the black material of their board of directors, Hang Lung Bank will definitely be taken over or acquired by us."

In September this year, after the Xie Liyuan Gold Shop closed down, there were rumors in the market that Xie Liyuan had a close relationship with Hang Lung Bank. Some investors who held Xie Liyuan Gold Shop gold certificates went to Hang Lung Bank to ask for cash, but were rejected.For a while, news about the bank's payment problems spread like wildfire, triggering a run on Hang Lung Bank.Within two days, nearly 9 million yuan was withdrawn.Fortunately, Standard Chartered Bank and Bank of China issued a statement to fully support Hang Lung Bank, and the run wave temporarily subsided.

However, the problem has not subsided. Two months later (November 2), Diners Finance Company was forced to liquidate because it owed a total of 1982 million Hong Kong dollars to several banks and could not repay.The two directors of Hang Lung are also directors of Diners Club, so the solvency of Hang Lung Bank has been questioned again.After that, many active financial companies in the market went bankrupt one after another, and the market was in a panic.

Taking advantage of this period of time, Lin Rongheng ordered people to start investigating the evidence that Hang Lung Bank's directors 'stolen' deposits from depositors in violation of regulations, and that Diners Finance owed Hang Lung a full HK$8 million.

The person who bribed Diners Club finally obtained conclusive evidence!

Think about it, if these evidences are put on the media, how can Hang Lung Bank not go bankrupt, and which bank would dare to support Hang Lung Bank.

Diners Finance Company went bankrupt, so it is impossible to recover the 8 million Hong Kong dollars it owed to Hang Lung; and the directors of Hang Lung borrowed the deposits of Hang Lung Bank in violation of regulations, without any mortgage and a small amount of mortgage, which is obviously a serious concern of the management. Management failure.

Lin Rongheng nodded and said, "This news must be submitted anonymously to a newspaper that is not under my banner, lest we be criticized!"

Yuan Tianfan said: "Xiangjiang is going to have a big bank crisis this time, and many banks will have fatal problems!"

Lin Rongheng said with a smile: "The bank in Xiangjiang is going to do this kind of survival of the fittest. Otherwise, everyone will violate the rules and take depositors' money as their own. There is no law at all. If we run a bank, we must first let the bank accept the Western countries. For banks, family management is absolutely not acceptable. Therefore, I have hired professionals from the West to manage Hang Lung Bank, and when the time is right, I will let Citigroup take a stake in Hang Lung Bank.”

Ye Tianhe and Yuan Tianfan couldn't help admiring Lin Rongheng's courage and courage, and they were even more optimistic about the future of the banking and financial group.

In the past few years, Galaxy Financial Group has developed rapidly, especially in the field of investment, and has achieved great success, mainly due to Lin Rongheng's grasp of the overall situation.

The financial company that Yuan Tianfan is in charge of has also done many large projects, such as assisting Xiaomi Electronics to go public, acquiring RCA picture tube business and other large-scale projects; not only that, in addition to Lin Rongheng's commercial operations, Galaxy Finance has also taken over a lot The commercial activities outside have built a good reputation.

After New Year's Day in 1983, a media disclosed that the bankrupt Diners Finance Company owed Hang Lung Bank a total of million Hong Kong dollars, which caused huge waves for a while.

Hang Lung Bank is only so big, and now it has million Hong Kong dollars in bad debts, so Hang Lung Bank definitely has a very big problem in its operation.

At the same time, there were media reports that the directors of Hang Lung Bank borrowed a large amount of Hang Lung Bank's deposits without any mortgage or with a small amount of mortgage.

All kinds of unfavorable news came one after another, and for a while there was a serious run on Hang Lung Bank.

At Hang Lung Bank, the Zhuang brothers are facing a formidable enemy in the office.

The boss, Zhuang Rongkun, paced back and forth in the office, and the second son, Zhuang Qingquan, was sitting on the sofa, but his eyes followed the boss all the time.

Zhuang Rongkun stopped and said: "No, Hang Lung Bank will definitely go bankrupt if this continues. We must seek the assets of a big bank! Standard Chartered Bank has always been our supporter. I will write a check to Standard Chartered Bank to withdraw some cash and strive for relief. We're under cash pressure."

The so-called check is almost the same as a bank loan!

Zhuang Qingquan also nodded and said, "We still have to hold a press conference to refute the rumors in the world, and sue those two newspapers!"

The two discussed it for a long time, but they were already frightened, because the 'rumors' in the world were true.

The news that a check from Hang Lung Bank was rejected by Standard Chartered Bank spread in the market on Hong Kong Island.

Standard Chartered Bank, which has always supported Hang Lung Bank, gave up continuing to support Hang Lung Bank, which is tantamount to confirming that Hang Lung Bank has serious problems.

Galaxy Financial Group has been keeping an eye on the development of the matter. In order not to leave any clues to others, everyone has maintained enough patience and waited for Hang Lung Bank to be on the verge of bankruptcy, but the Hong Kong government has not yet decided the time to take it over.

Soon, the time will come.

Galaxy Financial Group offered an olive branch to the Chong brothers, expressing their intention to take over Hang Lung Bank.

The Zhuang brothers finally came to the headquarters of the Galaxy Financial Group without any recourse.

in the conference room.

Lin Rongheng looked at the emaciated Zhuang brothers, but he didn't feel pitiful. The biggest reason for the repeated bank runs in Xiangjiang was that the operations did not comply with the World Bank's regulations.During the boom in real estate, the bosses and directors of these banks took depositors' money to speculate in real estate and land. While making a lot of profits, they passed on the risk to the depositors.

Zhuang Rongkun said with luck: "Our Hang Lung Bank welcomes Mr. Lin's shares, and Hang Lung Bank is willing to sell you % of the shares!" His idea is very simple, even if the % shares are sold at a lower price, Hang Lung Bank can make a big fuss and announce to the public The richest person in Xiangjiang joined Hang Lung Bank. Are you still worried about the safety of your deposits?
Lin Rongheng smiled and said: "Both Zhuang Sheng, I believe it is not groundless to disclose that Hang Lung Bank has bad debts of million Hong Kong dollars. I will be honest. Although we don't know the specific situation of Hang Lung Bank, we know that Hang Lung Bank must There are big problems. Moreover, Hang Lung Bank has entered the countdown to being taken over by the Hong Kong government, and by then, the two will not get any points, and will be restricted by the Hong Kong government.”

The Zhuang brothers are all together, because what Lin Rongheng said is the truth, soon the two will no longer repay their hopes. How could such a shrewd person in front of them agree to their good wishes.

Zhuang Qingquan said unwillingly: "How much does Mr. Lin plan to spend to acquire Hang Lung Bank?"

Ye Tianhe said from the side: "We need a filming team to station in Hang Lung Bank and review all your account transactions!"

If you don't check Hang Lung Bank's finances, if the loss reaches more than 10 billion Hong Kong dollars, Lin Rongheng will lose a lot of money in this business.

If it loses hundreds of millions of Hong Kong dollars, it's not a problem, because Lin Rongheng knows that Hang Lung Bank's bad debts can be recovered at least about 5 million Hong Kong dollars, but it just takes some effort.

Zhuang Rongkun's first reaction was to refuse, and immediately said: "This is not possible!"

Lin Rongheng said resolutely: "Those two, please go back! We won't buy your bank unless we see all the financial transactions of Hang Lung Bank! Finally, I advise you two, don't have illusions."

The Zhuang brothers hesitated for a while. The facts were indeed in front of them. It was only a matter of time before Hang Lung Bank collapsed.

Finally, Zhuang Rongkun asked tentatively: "If Hang Lung Bank loses hundreds of millions of Hong Kong dollars, how do you plan to buy it?"

Lin Rongheng said directly: "If the loss is less than 5 million Hong Kong dollars, I will invest 1 million Hong Kong dollars to acquire all the shares. I will be responsible for the debts and bad debts of Hang Lung Bank; if the loss is more than 5 million Hong Kong dollars, I can only see the specific situation. In short, after we check your bank's financial transactions, if the transaction fails, we will not publicize it. Moreover, if you agree, we must enter Hang Lung Bank immediately, and we must complete the review of Hang Lung's financial situation even overnight. Hang Lung Bank has already I can't afford it anymore!"

After listening to Lin Rongheng's words, the Zhuang brothers looked at each other, and they felt very satisfied with million Hong Kong dollars, which was better than getting nothing.

"it is good!"

(End of this chapter)