Chapter 1042 Standard Chartered
Hold Junning Zhang’s slender waist.
“I promised you that if you could develop LOHAS Fitness well, I would transfer Guowu Sports to you. Now that you are doing well, I will naturally fulfill my promise.”
“Dear Yes, the greatest luck in my life is that I met you." The beauty said emotionally.
Enjoying the beauty's silent warmth, Xu Liang smiled.
"Work hard. When you can increase the revenue of the two companies to 1 billion and maintain the net profit of the main business at 20%, I will invest another 200 million in you."
"Really ?”
“Of course.”
Anyway, both Lohas Fitness and Guowu Sports belong to the Xu family foundation.
He is just left-handed and right-handed.
In the future, it will be his own son who will inherit this part of the assets. He will not be able to take advantage of outsiders, so of course he will be very generous.
"Dear, I will work hard and strive to meet your requirements this year." Zhang Junning said quickly.
In her opinion, Xu Liang’s investment in money benefited himself.
As Lohas Fitness and Guowu Sports develop further, her status in the business world and the money at her disposal will also increase.
In the future, when you are old and prosperous, having these assets will be enough to ensure a prosperous life.
Even if his daughter cannot inherit Xu Liang's top companies, LOHAS Fitness and Guowu Sports can still ensure continuous wealth.
Both people are satisfied.
Yangcheng Taihua City [Taikoo Hui] is the largest urban complex in Yangcheng built by Taihua in 2003.
Bigger than Taikoo Hui in history.
The construction area is close to 500,000 square meters.
It includes a 210,000-square-meter shopping mall, a Grade A office building, a five-star Goodwood Garden Hotel, and two Fuhua Apartments.
After nearly four years of construction, Yangcheng Taihua City was finally officially opened to the public in June this year.
In the first month of opening, Taihua City’s revenue exceeded 200 million Chinese dollars.
It has not only become the landmark of Tianhe Business District, but also the most popular commercial pedestrian street.
Xu Liang’s visit this time was not for Taihua City.
Although this project has a huge investment and huge profits, it is not considered important in today's Xu family.
Quickly entered the presidential suite of the Goodwood Garden Hotel, and not long after comforting Zhang Junning.
Li Jinling walked in.
"Mr. Xu, they are here."
"Come in."
The door opened, and a middle-aged white man wearing a brown suit and gold-rimmed glasses stepped in, followed by several people who were obviously secretaries and attendants.
"BOOS, good morning."
Xu Liang stepped forward and hugged the other person.
"Humphrey, we haven't seen each other for more than a year."
"To be precise, it should be one year and two months. After you left London for Paris last year, we Never seen it again.”
Xu Liang patted his head in annoyance.
“My head is getting more and more confused.”
“The companies under BOSS are developing rapidly, and there are more and more things happening. It’s normal to forget even the smallest things.” Humphrey complimented.
As Xu Liang became more and more powerful, especially the victory of the Tenglong Project, he saw with his own eyes the capabilities of his big boss.
Especially the fact that the British royal family came forward to raise oil prices, which almost shocked him.
So even though Standard Chartered Bank has developed rapidly under his leadership in recent years, he has become more and more humble in front of Xu Liang.
After smiling and patting him on the shoulder.
“Come and sit.”
After the two of them sat down, Humphrey handed over the information he had with him without any further ado.
“BOSS, this is the current M&A information of Guangdong Development Bank.”
Xu Liang took it.
Standard Chartered has been paying attention to GF's bidding for nearly two years since 2005.
During this period, everyone is bidding against each other, recruiting stronger allies, and negotiating terms with the Guangdong Province.
Now has come a critical moment.
This is also the reason why Xu Lianghui came to Yangcheng in person from Shanghai.
"The competition is fierce."
Humphrey nodded and said: "Currently HSBC has been eliminated, leaving only our bidding group with Citibank and Societe Generale."
HSBC An exclusive agreement was signed when investing in Huaxia Bank of Communications.
Except Bank of Communications, HSBC cannot invest in other Hua Xia Bank.
“Citi’s partners include Carlyle, China Life, State Grid, CITIC Trust and Puhua Investment.
Six institutions plan to hold Citigroup 20% of Guangdong Development Bank's shares and Carlyle 4.74%.
China Life Insurance holds 20%, State Grid holds 20%, CITIC Trust holds 12.85%, and Puhua Investment holds 8%.
They are the most powerful and currently the most promising side to win.
The Société Générale bidding group mainly includes Sinopec Group, Baosteel Group, Canadian banks and investment institution Proparco.
They plan to invest 23.5 billion yuan in Huaxia coins to bid for 85% of Guangdong Development Bank's shares.
Industrial Bank holds 19.9% of the shares, Canadian banks and investment institutions Proparco hold 5%, and the remainder will be held by Baosteel Group and Sinopec Group, the other two members of the bidding consortium.
Then there is our side, except Standard Chartered Bank, Bank of Milan, Hanhua, Ping An Group and PetroChina.
Standard Chartered holds 19.9% of the shares, Bank of Milan holds 5%, and Hanhua, Ping An and PetroChina each hold 20%. ”
The Bank of Milan was the bargaining chip thrown to Berlusconi in order to acquire Kaka from AC Milan when Xu Liang was in Europe last year.
It just so happened that he, Standard Chartered, really needed a cooperation. Square.
Although Bank of Milan is far less powerful than private equity institutions such as Carlyle and Black Rock, it is worse than it is easy to control.
Humphrey: "At present, among the three parties, our strength is about the same as that of Industrial Industrial, a little worse than Citigroup, but it is limited."
"At the critical moment, we will almost be completely eliminated. ." Xu Liang said.
“Yes.”
Glancing at him, Humphrey continued.
"BOOS, the people in charge of negotiations in Guangdong Province have sent word that if you are willing to put a BOE 8th generation line in Yangcheng, they are willing to give more consideration to us."
Xu Liang was not surprised at all.
News from the official website spreads the fastest.
Although he has just begun negotiations for cooperation with the Magic City, the news has already spread. "They really said that?"
"Yes."
Xu Liang narrowed his eyes slightly.
Including Standard Chartered's shareholding, Xu's shareholding in GF is only 40%. Why should he be allowed to release such a huge benefit?
“What did Sinopec and Ping An say?”
“They didn’t say anything, they just said that no matter what we choose, they are willing to accept it.”
"These guys are quite shrewd."
"Make an appointment with their person in charge for me."
"Okay."
"Wanwan Hsinchu Commercial Bank's contract Signed?”
“Yes. We will acquire all the assets of Wanwan Hsinchu Bank for US$2.9 billion.”
Xu Liang nodded.
$2.9 billion is not expensive.
Wanwan Hsinchu Commercial Bank has 42 branches across the island, with total assets of approximately US$13 billion, more than 2.4 million personal deposit accounts, and 115,000 corporate and small and medium-sized enterprise deposit accounts.
It is the seventh largest private bank in Wanwan.
“With the acquisition of Wanwan Hsinchu Commercial Bank, Standard Chartered’s business has completed its coverage of the entire Asia.” Xu Liang said with a smile.
Humphrey also showed a trace of pride on his face.
Standard Chartered’s Asia strategy is the foundation that he has adhered to since he became the group CEO.
In September 1999, Standard Chartered defeated competitors Citigroup, HSBC Holdings and Singapore's United Overseas Bank, and spent US$310 million to buy Thailand's Bank of Thailand with total assets of US$1.6 billion and 67 branches in Thailand. 75% stake in Kongton Bank.
Then the two parties merged into Standard Chartered Bank [Thailand] Company.
Since then, Standard Chartered has kicked off its entry into the Asian financial industry.
Then Standard Chartered spent another US$1.34 billion to purchase Grindlays, a well-known international bank with total assets of US$7 billion, thus becoming the leading international bank in India and Pakistan and the second largest in Sri Lanka and the United Arab Emirates.
In August 2000, Standard Chartered acquired the retail banking and credit card business of Chase Bank in Hong Kong for US$1.3 billion.
After acquiring Chase, Standard Chartered completely defeated HSBC in the credit card field in Hong Kong and became the bank with the largest card issuance volume.
These are just the beginning. Soon Standard Chartered acquired Swiss Bank (UBS), the global trade finance business outside of Switzerland.
Canadian Imperial Bank of Commerce (CICB) structured finance business in emerging markets, Lebanese Metropolitan Bank.
In 2001, Standard Chartered Group will spend US$154 million to acquire 9.76% of the shares of KorAmBank listed in South Korea.
Two years later, Standard Chartered spent US$3.3 billion to defeat HSBC and acquire the First Bank of South Korea.
Taking advantage of the opportunity that global banks had to shrink their business in East and Southeast Asia after the outbreak of the Asian financial crisis, Standard Chartered attacked in all directions and soon became one of the largest international banks in East and Southeast Asia.
“BOSS, if we can successfully acquire GF, Standard Chartered will become a company spanning more than 70 countries/regions, operating more than 1,500 branches and outlets, with bank reserves of US$400 billion, and more than 50,000 employees. A world-class financial giant," Humphrey took the opportunity to encourage.
Xu Liang was very aware of his little thoughts.
However, expanding Standard Chartered's business and expanding its scale in the global financial market was originally part of his plan.
“How are you preparing for what you are asked to do now?”
“With the assistance of Hongmeng, Standard Chartered’s online banking business has developed rapidly and is now online. However, currently there are still Not enough.”
“There won’t be many audiences when new things come out, but it will get better in the future.”
"Humphrey, the speed of the Internet is getting faster and faster, and the number of global netizens is also growing rapidly. Online banking is a new growth point. Whoever can seize this opportunity will get greater development opportunities.< br>
Don’t let me down.”
“Don’t worry, I will personally be responsible for the development of Standard Chartered’s online business.”
Xu Liang nodded slightly, “Now Standard Chartered’s investment. How many real estate-based subordinated bonds are there in the portfolio? "
"I don't have specific statistics, but there are still US$20 billion. You can rest assured that the real estate subordinated bonds held by Standard Chartered are all rated. Level 3A, very low risk.”
Xu Liang had a look of ridicule on his face.
He personally presided over the big move to turn 3B-rated real estate subordinated debt into 3A-rated real estate subordinated debt.
I know better than anyone else what the trillions of triple-A real estate subprime bonds circulating in the U.S. market, no, I should say the global market, are.
“Clear all real estate subordinated debt held by Standard Chartered. Also, increase the down payment ratio of Standard Chartered mortgage loans from the current 10% to 20%.
Reform the qualifications of home buyers Strict review, no legitimate job, insufficient ability to repay, will be rejected
Also, make an asset package out of previously issued low-rated real estate loans and sell them all. "
Looking at the big boss's calm and deep eyes, Humphrey, who has always been known for his tough style in the outside world, swallowed and said carefully.
"BOSS, I'm afraid this will It will have a great impact on Standard Chartered's business and will also arouse questioning from many peers. "
Now the whole world is going long on U.S. subprime mortgages, but you, Standard Chartered, are short on it. What do you want to do?
"Humphrey, this time I am not discussing with you, but You and Standard Chartered must implement my decision! ”
Xu Liang waved.
Li Jinling handed over a stack of information.
“Let’s take a good look.”
Humphrey took it. He was okay at first, but his expression became more serious as he went on. At the end, sweat was dripping from his forehead.
“BOSS, are these all true?”
"Of course, if you don't believe it, you can go to any investment bank in the United States, buy a 3A-grade real estate subprime debt asset package, unpack it and check it in detail.
I guarantee that every loan in it It will bring you a huge 'surprise'"
The information Xu Liang gave Humphrey was the one that he used to exploit the loopholes of the rating agencies to join forces with Goldman Sachs and JP Morgan to turn 3B-rated loans into 3A-rated loans. set.
"These damn bastards, they are too bold. All European banks have been fooled by them." Humphrey gritted his teeth.
Looking at his angry eyes mixed with envy, Xu Liang knew that what this guy hated was not the boldness of American investment banks, but the lack of Standard Chartered in this lucrative business!
Xu Liang didn't reveal his thoughts.
“Starting this year, the United States began to issue housing loans to beggars and homeless people, and now even homeless people and beggars have been developed.
The smart Americans did not choose to end, they developed A new way to play - copy.
CDO, secured debt obligations.
Each CDO bond is backed by real assets, such as mortgages and car loans.
Now that home loans and car loans are no longer enough, investment banks have wisely chosen to copy them.
A real CDO bond can be copied a hundred or even two hundred times.
Although these bonds are bullshit, if CDS are developed for these bonds and then buyers are found for these CDS, then everything will have value. ”
CDS, Credit Default Swap.
As a banker, Humphrey was familiar with how this new type of financial derivatives contract worked.
"BOSS, this is gambling!"
(End of this chapter)