Chapter 491 The huge profits of Changxing Real Estate
"Yang Sheng, the contract has been signed." Zheng Zhijie and Fang Xianming carefully handed over the two documents and said: 'Now we are waiting for HSBC, Standard Chartered and Citibank Once the joint loan funds arrive, the transfer will be officially completed. '
"Okay." Yang Wendong took the document, read it over, and asked: "Is there any problem with the bank joint group?"
Fang Xianming smiled and said: "Mr. Yang Don’t worry, there’s no problem. This time we used some of Changxing Shipping’s oil tankers as collateral. This is a very high-quality collateral, and all banks are very optimistic about it.”
“Haha, indeed.” Yang Wendong nodded and smiled.
In 1967, an economic crisis broke out in Hong Kong, and the Middle East was in chaos. The Suez Canal was closed, which led to a surge in global shipping demand. As a result, an oil tanker could earn back its capital in one year, and then it would be a bloody profit;
Although the bank does not know that the Suez Canal will last for 8 years, Egypt is now forced to mine both sides of the canal. In this case, even if it is restored today, it will probably take a long time to clear the mines, so the ships will be mined for a long time in the future. Bestseller.
Fang Xianming added: 'Actually, the available mortgage limit from Changxing Industrial has not been exhausted before. I just considered that there is no need to expose a lot of our company's profits to those banks, so I will try my best to use ships later. Mortgage is taken, and the profits of the ships are known to the world anyway. '
"It's done very well. From now on, we will mortgage Changxing Shipping. Honor Electronics and Changxing Industrial will not use it if they can." Yang Wendong naturally agreed, and then looked at Zheng Zhijie: "Old Zheng, during this period, The entire group is here to serve you. When the real estate market recovers in the future, it may be the other way around. Now, you need your funds to invest in other industries.”
The biggest advantage of real estate is that it can appreciate in value in the future. A property bought for 100 million today may be worth 500 million to 600 million in a few years, and then mortgaged for 300 million to 400 million. It is also easy. It is impossible in other industries, and shipping is a special situation in recent years.
Zheng Zhijie smiled and said: "No problem, now our group has 16 buildings in Central alone, and more than 5 million square feet of properties or land in other places in Kowloon, Hong Kong Island. These will definitely be the best assets in the future; < br>
This does not include other brother companies that have purchased properties and are self-sustaining, excluding me. Their land area has already exceeded 10 million square feet. It’s just that the location is not that good, and it is also an industrial land.”
In addition to the three properties of Land, Changxing Real Estate has also acquired 5 properties from some medium-sized British consortiums in the past few months, plus before this year. In the past few years, Chang Hing Real Estate has also made several large investments in Central, including taking over some properties from Liu Chong Hing Bank. Therefore, it already has 16 buildings in Central.
Beyond Central, a large number of properties and street shops have been purchased in Admiralty, Tsim Sha Tsui, Causeway Bay, Happy Valley and other towns, and there are also about 10 complete buildings. However, the buildings in these places are relatively small. Many places where land prices are not expensive will not have very tall buildings. The total area of these buildings exceeds 5 million square feet.
“Those lands will probably not be moved for more than ten years, so there is no need to calculate.” Yang Wendong said: “As for Changxing Real Estate, I only look at these commercial lands that can be developed and leased at any time.”
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"Understood." Zheng Zhijie nodded and said: "Currently I am still looking to acquire various high-quality properties, but the recent news seems to be better, and many people have begun to wait and see."
Yang Wendong smiled and said: "It's so long Time has passed, and Hong Kong is still safe. Normal people will indeed wait and see. If the owner is hesitant to find a suitable location again, he will increase the price appropriately and get it quickly.”
Also. In about a month, he naturally has to finish it quickly. Although the properties acquired by Changxing Real Estate can basically become the second largest real estate company in Hong Kong, no one will think it is too much;
Hong Kong's real estate, in the next few decades, will be the best quality asset after the stocks of some Internet technology companies. Especially now, because of its existence, it is unknown whether there will be any big changes in the electronics industry in the future.
Zheng Zhijie said: "I understand."
Yang Wendong continued: "Then complete the process as soon as possible. After the acquisition is completed, I will go to see the inside of these buildings. I haven't gone in yet."
Although the Prince's Building, the Duke Building, and the American He has seen the Lee Building from the outside. After all, Hong Kong is only so big, but he has never been inside these buildings.
"Okay." Zheng Zhijie agreed.
Two days later:
Yang Wendong came to the downstairs of Prince's Building, No. 10 Chater Road, Central. He looked up and saw that with a height of 27 floors, this number of floors may be higher than any other small county town in the Mainland in future generations. It’s not enough to look at, but Hong Kong is considered very high in this era. Only in the late 1970s will there be a large number of buildings with 30 to 40 floors and above in Hong Kong.
"Have the managers of these buildings been changed?" Yang Wendong asked.
Zheng Zhijie replied: "Most of the British ghosts have left, and I have kept the few who are willing to leave Land, and the other Chinese have basically not left;
Anyway, they are just managing properties. , sanitation, accounting and other issues, the real estate company’s business is very simple, so it can be taken over directly. ”
Yang Wendong. Nodding: "It's really convenient. If it's other business, it would take a long time just to hand over it."
Rent collection is the simplest and the best mode for rich people to live peacefully. In the past, many businesses in Hong Kong After Chinese-owned families were exposed in the 1980s, they found that they often had a street as a property, and the entire family was waiting for rental income.
This is actually a good way to preserve the continuation of the family. As long as the children do not engage in gambling, with many properties to collect rent, it can be said that they will have no worries for a few lifetimes, unless there is a problem in the city, and as long as the scale is large enough, in many places around the world Urban investment properties are almost 99% insured.
"Yes." Zheng Zhijie smiled and said: "We at Changxing Real Estate are also very experienced in this area."
Yang Wendong said: "Okay, let's go in and take a look." Everyone Entering the building, the people inside knew that the new boss was coming and were very polite. The property manager even introduced the situation of the entire building one by one.
After listening, Yang Wendong asked: "In other words, even the Prince's Building is nearly 30% vacant?"
"Yes, Yang Sheng." Property manager Cui said: "During this period, many customers suffered serious losses and had to withdraw their money. Some of them immigrated or their rents expired."
Zheng Zhijie also said: 'Yang Sir, this was also the case in our previous properties. Many people would rather not deposit money. Then they ran away, and it was difficult for us to sue. ’
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“Well, it is indeed not easy to do business at this time.” Yang Wendong nodded.
Most of those who lease such places are for internal business, such as finance, law, trade, etc. Once Hong Kong's economy fails, their business will be directly affected.
Factories, on the other hand, have been much less affected. The workers are generally ordinary people and cannot escape.
Manager Cui then said: "Yang Sheng, let's go up and take a spin?"
"Okay." Yang Wendong nodded.
Everyone followed Manager Cui and walked around the inside of the building, and then went to the Duke Building and Murray Building not far away. They are both in Central, and they are not far apart if they are not close together.
“The scenery of these buildings is much better than that of Changxing Building.” After reading, Yang Wendong smiled.
Zheng Zhijie said: "Yes, Changxing Building was purchased by Liao Chong Hing Bank before. Although Liao Chong Hing was developing well at that time, it was far behind Land. The location of the purchased land was far inferior to several core properties of Land."
"Yes, there are more than a dozen real estate buildings around here, which is really heroic." Yang Wendong looked around again.
Yehe has dominated Hong Kong for a hundred years. Its core assets are Land and Wharf. The former is larger in scale. The dozen or so buildings in Central are just one of its core industries. In other places on Hong Kong Island, it still has Many properties, land, buildings or shops, etc.;
The latter has a large terminal, a large number of warehouses (warehouses) in high-quality locations, etc. Once the port is relocated, these will also be high-quality assets.
Fang Xianming next to him whispered: "Yang Sheng, in recent months, I have acquired about 3.1% of Land's shares."
"Where are Wharf and Yihe?" Yang Wendong asked again.
Fang Xianming replied: "Yihe currently acquires 2.2%, and Wharf acquires 2.8%."
"Land has the most." Yang Wendong said with a smile.
Fang Xianming said: "Yes, Land still holds shares in Wharf. If it really wins Land, Wharf will also get it; although Jardine has shares in Land, it still holds shares in Wharf. There are not many shares, and Jardine’s core industry is overseas, and there are not many outstanding shares of Jardine, so the acquisition is the least.”
“It’s not easy to win Land.” Yang Wendong asked again: "What about Milk International?"
Fang Xianming said: "The total market value of Milk International is much smaller, and I have acquired 5.6% of it so far."
"Okay, then continue to keep a low profile, continue to acquire in this way, and plan for the long term. Yang Wendong nodded and said.
As a giant that has dominated Hong Kong for 100 years, Jardine Matheson also has a lot of overseas assets, so if it really goes against him, he is not completely sure, at least not yet. At the same time, the existence of Hong Kong British also makes this matter Things are not working out for now.
We only need to wait a few more years until British capital and even the UK decline, and at the same time, Jardine Matheson’s overseas investments suffer too many losses and continue to bleed, then it will be appropriate, and the most important move in this is the acquisition of land. Will milk reappear? If, like in the past, Land and Land dilutes its shares significantly in order to acquire milk, then it will give itself a chance.
But because of my own existence, it’s hard to say whether this will happen. If it doesn’t happen, I will have to find a way to win over the milk company in the future. This is also a very high-quality company, but currently it is Chinese capital is in operation, so it is not convenient to use force. We can only wait and see later.
"Understood." Fang Xianming agreed.
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(End of this chapter)