Bao Fuda didn't take it seriously at first and just casually flipped through a few pages, but after seeing some important data.
A hint of fear flashed in his blue eyes, and a hint of panic suddenly appeared on his face. It took him about five minutes before he handed the document to New Bijian with a serious expression.
After reading it again, Niubijian frowned deeply, and it took a long time for his brows to relax. A sharp light flashed in his dark brown eyes, and he said without letting anyone refuse:
"Let's talk alone!"
"Okay!" Mo Zhexuan nodded with a smile, and then looked at Wang Pengfei and Josh Rupert, the financial representative of Huoduoli. The two of them walked towards a small meeting room behind them very consciously.
"I'm very curious, how did you find out the total debt of Hong Kong Land?"
Bao Fuda was very puzzled, as the total debt of Hutchison Whampoa Properties was a source of worry for him.
He tried his best to hide his real debt, but he didn't expect that it would be discovered. Naturally, he was very angry.
Ever since Wharf Holdings was taken away by the shipping king, the Jardine Matheson Group decided to build Hutchison Whampoa into a super giant group, and has been rushing on the road of expansion and acquisition.
But unexpectedly, the suggestions put forward by the Iron Lady during her visit to China would be rejected, which made the future of Hong Kong uncertain.
The economic turmoil caused the expansion projects to suffer losses of more than HK$10 billion, and the total debt reached a huge HK$15 billion.
The power struggle within the Jardine Matheson Group is also very fierce. The major shareholder, the Keswick family, has been eyeing it covetously, wanting to regain the throne.
Although Newby and Bao Fuda received support from some small shareholders, they were under tremendous pressure. Finally, they proposed a plan, which won the support of all shareholders.
The plan was to take over the China Gas Company at lightning speed and promote its merger with the Hong Kong Electric Company, thereby completely turning the Hong Kong Electric Company into a subsidiary of the Jardine Matheson Group.
On the one hand, this can increase the share price of Hong Kong Land Development and recover funds by selling some non-core businesses through asset restructuring. On the other hand, it is to use the huge amount of funds in the account of Hong Kong Electric Company.
In 1982, the Hong Kong Electric Company sold 3.5 billion kilowatt-hours of electricity, with a total profit of HK$434.1 million and a total profit of HK$782 million for the whole year.
This is just one year's profit. The total amount of funds in the account is at least HK$2.5 billion, which is an inexhaustible gold mine.
In 1976, in order to develop real estate, the Hong Kong Electric Company sold its major land properties, including the former site of the North Point Electric Road Power Station, No. 8200 Jardine's Lookout, and several plots of land in Tsuen Wan, to International City for a total of HK$2.11 billion. This single item made a considerable profit.
International City is a real estate company formed by Hong Kong Electric Company, Li Ka-shing's Cheung Kong Holdings, and other shareholders including the British trading firm Wheelock and Company. It was established in 1982 with a registered capital of HK$3 billion and a public offering of 450 million shares. The largest shareholders are Hong Kong Electric Company and Cheung Kong Holdings, each holding 34% of the shares.
The Jardine Matheson Group now holds a total of 34.9% of the shares of Hong Kong Electric Company and is the largest shareholder, but it has not obtained the operating rights. The management of Hong Kong Electric Company is not buying it, so it can only worry about these huge amounts of funds, which is the most helpless thing.
In 1984, when Hong Kong Swire Properties could no longer cover up its huge debt, it had no choice but to sell off its assets. Li Ka-shing, who had been secretly eyeing the Hong Kong Electric Company, finally got a godsend opportunity.
In the end, he dealt a heavy blow to the Jardine Matheson Group and acquired 34.6% of the shares of the Hong Kong Electric Company held by Hong Kong Swire Properties for only HK$2.9 billion. He became famous both at home and abroad and became the undisputed number one tycoon in Hong Kong.
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