“Yes, boss.” Wangcai nodded first, then reported on the work done in the past period, and finally said, “Boss, our funds have established forward positions in futures exchange rates in the Philippines, Malaysia, Singapore and other countries, but the current holdings are not large, less than 600 million US dollars in total.”
Upon hearing the figure of $600 million, Chen Dong did not react much. According to his estimation, this was still early, and the current move was merely a trial investment, which would not have a significant impact on the future financial battle.
"Well, $600 million is enough for now. We'll find a suitable time to add to our positions gradually, using a slow and steady approach to increase the size of our holdings."
"Okay." Wangcai nodded, indicating that he had made a note of it.
"Manager Ma, you did a great job last time, I'm very satisfied," Chen Dong continued.
During the last food crisis, he planned to break the deadlock from two aspects. One was Russia, from which he bought 2 million tons of wheat. The other was Thailand, from which he imported a large quantity of Thai rice at a 30% discount due to the current depreciation of the Thai baht.
The person in charge of this matter was Ma Guoliang.
Now, Chen Dong is emphasizing his praise in the meeting, which is undoubtedly a way of giving him a boost. After all, everyone else benefited from the currency shock, at least in terms of funds. They followed Chen Dong in shorting the Thai baht and thus also profited greatly. With leverage, their total funds more than tripled.
Of course, with Chen Dong's $20 billion, it's impossible to do this. Putting aside whether there would be any buyers, it would be difficult for such a large sum of money to double in a short period of time, let alone triple. Therefore, these funds did not take advantage of the leverage effect during the depreciation of the Thai baht. In other words, they made as much profit as the baht fell. These funds totaled approximately $5 billion.
Chen Dong was already satisfied with this. After all, due to his extensive involvement in history, many future events, or those about to happen, had their outcomes altered to varying degrees, some even occurring several years earlier than expected.
There's nothing wrong with doing this for the sake of fund security.
Chen Dong's next words, however, immediately broke Ma Guoliang's guard.
“I have informed the finance department that they will write you a separate check for $1 million as a reward for this event. Thank you for your hard work.”
......
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