The birth of the Hong Kong Island family

At the annual Wharf Group Financial Report Conference, reporters did not see Chairman Lin Zhichao, and they immediately understood one thing - Lin Ruihai has truly taken charge of the Wharf Group.

As early as two or three years ago, Lin Zhichao told the media that he would gradually reduce his work in a semi-retirement manner. Semi-retirement is not retirement. He will still pay attention to the development of the company. If he makes wrong decisions, he will Will intervene to stop it.

On the rostrum, Lin Ruihai sat in the middle. Next to him were Xu Jiashen, the vice president in charge of financial technology, and Gao Chenglin, the vice president in charge of real estate development management. As for the entire Wharf team, only one-third of the foreign senior executives remain.

This is not because the Lin family is trying to get rid of the trouble, but because the original British senior executives have successfully retired, or they have resigned; however, under the new management, the Wharf Group has begun to hire Chinese senior executives.

The reason is simple. The Wharf Group is designated as a commercial real estate development company in Asia, so there is no need to recruit foreign management.

At the beginning of the press conference, Vice President Xu Jiashen made the ‘Annual Financial Report’ and Gao Chenglin made the ‘Project Report’.

In terms of annual financial report: Wharf Group performed "fairly", with a profit of HK$1.58 billion, which is average for a total assets of HK$30 billion; but considering that 'Times Square' is ready to start attracting investment and leasing, and projects in Southeast Asia have just been invested. , this is understandable.

Project report: The Wharf Group's performance is "very amazing". Whether it is the progress of commercial real estate in Bangkok and Kuala Lumpur or the book return on investment in Singapore, reporters have been impressed by Lin Ruihai's business skills.

Gao Chengli later added: "Our investment in Southeast Asia has entered a growth period and has actually generated very good book profits. For example, we purchased the Paragon Building for 240 million Singapore dollars. Since we also acquired the Paragon Building Jubilee Company owns the land behind the building, so after the two properties are combined, the price is already worth 600 million Singapore dollars. From this single item alone, we have made a profit of 300 million Singapore dollars (1.6 billion Hong Kong dollars)."

The reporters were immediately surprised. They did not expect Lin Ruihai to be so powerful.

Next, enter the question stage.

In the past, Lin Zhichao was of course the absolute protagonist, but now everyone has transferred their 'love' to Lin Ruihai.

"Mr. Lin Ruihai, Lin Sheng did not come to attend the annual financial report meeting this time. Have you officially taken over the power of Wharf Group and completed the handover?"

Lin Ruihai immediately said seriously: "The chairman is now busier than before. He often goes to the mainland and overseas for business inspections and spends more energy on studying 'development trends', so he entrusts the work to us young people. Therefore, there is no shift change, but everyone’s work direction has changed. Thank you!”

Several of Lin Zhichao's children have always denied the succession and do not like reporters talking about 'succession'.

On the contrary, Lin Zhichao always likes to talk about "planning to retire gradually and enjoy life" in front of reporters.

The father and son had very different opinions, causing reporters to go insane.

But what is certain is that the Lin family has clearly entered the "second generation management". The characteristic is that the "five sons of the Lin family" have served as vice chairman and president of the group company respectively.

The president is the actual manager, so this is the signal for the Lin family's 'handover'.

Reporter: "Mr. Lin Ruihai, is the investment project in Southeast Asia your intention, or is it Mr. Lin Zhichao's intention?"

Lin Ruihai: "The chairman has said that Southeast Asia is a new economy in the world and has growth prospects, so we have formulated a development strategy to invest in Southeast Asia. As for the project, the chairman did not interfere!"

Everyone understands!

Lin Zhichao is now a 'researcher', giving the company the general development direction, and then his sons will implement it.

Lin Ruihai came to Singapore and came to Tao Xinbo's office by appointment.

This is an obviously Chinese office, with mahogany office furniture as a whole and hanging calligraphy and painting decorations; Tao Xinbo, who is over 70 years old, is already retiring and is obviously in his twilight years.

In fact, many people are aware of the situation of Singapore Land, and many people have also made plans.

However, no one has succeeded so far, and they may not even have the courage to come to the door in person.

After all, Tao Xinbo is also a long-established chaebol in Singapore. Although he does not have a strong successor, he is also a well-established old chaebol in Singapore.

"Mr. Tao, I've taken the liberty to come to visit you. Please forgive me for disturbing you!" Lin Ruihai bowed and politely apologized as soon as they met.

Tao Xinbo didn't know Lin Ruihai's purpose, but he knew that Lin Ruihai was the son of "Chinese business leader" Lin Zhichao, and then he said kindly: "Mr. Lin has such a good tutor, please don't be polite, Mr. Xiao Lin. Your father and I have also been together." Because of our relationship, it’s not an exaggeration for you to call me Shibo!”

In his early years, Lin Zhichao joined many clubs in Singapore and met many celebrities in Singapore. He did meet Tao Xinbo several times, but they were not very close.

Lin Ruihai immediately called him: "Shibo"

Tao Xinbo said with satisfaction: "Okay, let's sit down and talk!"

Then, he asked his secretary to pour tea, and the two started talking on the sofa.

Lin Ruihai also expressed his admiration for Tao Xinbo as soon as they met. He said: "Tao Shibo worked hard in Singapore, and his achievements have made me, the younger generation, admire him. Singapore Land is already the largest commercial real estate company in Singapore. It is all thanks to Tao Shibo's business success." The management methods are worth learning.”

When Tao Xinbo saw that Lin Ruihai respected him so much, he was immediately very pleased. After all, Lin Ruihai was Lin Zhichao's son, and Lin Zhichao's achievements in the real estate field were the real 'tycoon'.

He said: "My nephew, I'm so grateful. Compared to my father, I'm a little worse. In fact, we are still half fellow villagers!"

Lin Ruihai understood instantly and immediately switched to Wu language and said, "Yes, my mother is from Piling. I know that Tao Shibo is from Jinling. We have also learned Wu language since we were young."

Tao Xinbo immediately said happily: "Well, the Pilingtang family was one of the four major industrial families in the south of the Yangtze River. You can learn Wu language since you were young, so you obviously have not forgotten the glory of your maternal line."

As he talked like this, he looked very friendly and the atmosphere was quite good.

But then, the atmosphere took a turn for the worse.

Tao Xinbo took a sip of tea and then said, "My nephew came to see me this time. What's the matter?"

Lin Ruihai also immediately put down his tea cup and said without concealment: "Tao Shibo, our Wharf Group hopes to acquire Singapore Land and build a large commercial real estate kingdom in Asia."

Tao Boxing almost dropped the cup on the coffee table, and it took him a long time to react.

Immediately, he said solemnly: "Is this what Mr. Lin means?"

Lin Ruihai said harmlessly: "This is what I mean! Tao Shibo may not know that we have been seeking greater development throughout Southeast Asia in recent years, so we are very eager for Singapore Land. Once we succeed in acquiring Singapore Land, we will arrange this Companies continue to invest in real estate throughout Southeast Asia. Southeast Asia is an emerging economy, and real estate will be an industry with great potential. If Singapore Land develops in accordance with our guidelines, I believe it will have greater development prospects."

He talked endlessly about the benefits of Singapore Land joining the Wharf Group, and did not 'see' Tao Boxing's sullen and angry mood at all.

For Tao Boxing, he would certainly not look good on anyone who wanted to annex the career he had worked hard for his whole life.

What's more, just now he had praised Lin Ruihai so much, but now this guy has changed his face without any courtesy and even wants to annex Singapore Land.

Before Lin Ruihai could finish speaking, he immediately said: "Singapore Land is my life's work, and I will never sell it to you. I'm officially telling you now that I don't welcome you, and I don't like you either!"

After listening to this, Lin Ruihai's expression remained unchanged and he still said: "Mr. Tao, please think about it again! Although Singapore Land is your lifelong effort, but you don't have a strong successor, how can you hold on to Singapore Land in the future?"

Tao Xinbo was so angry that he almost jumped up. He suppressed his anger and said: "If you want to buy, come through the front door, not the back door!"

The so-called "front door" means that Singapore Land is a listed company and its stocks are publicly traded. If Lin Ruihai is really capable, there is no need to consult with him and he can just buy enough stocks directly from the market.

The so-called "back door" means that Lin Ruihai came here today to build relationships and wanted to take away his personal equity from his private hands. There is no way.

Tao Xinbo's expression also revealed his contempt for Lin Ruihai's ability. He did not believe that Lin Ruihai had the strength to complete the compulsory acquisition of Singapore Land in the stock market.

Even if Lin Zhichao comes, Tao Boxing may still pay attention to it, but now that a young man like Lin Ruihai wants to forcefully acquire Singapore Land, he has no pressure at all.

Lin Ruihai, a newborn calf who is not afraid of tigers, said politely: "Okay, Mr. Tao, I will come from the front door another day."

Then he turned and left.

Tao Xinbo snorted coldly: "You brat, you don't even look at how much you weigh!"

In his view, Lin Ruihai did not know the shareholding structure of Singapore Land in the first place and how much shareholding it had.

If you are not familiar with the place, where is the threat?

Even if Lin Zhichao comes in person, Tao Xinbo thinks there won't be much risk.

Singapore Land's market value is more than 2 billion Singapore dollars, which is more than 10 billion Hong Kong dollars, and its asset value can reach more than 16 billion Hong Kong dollars. It is by no means an ordinary small company that can be acquired easily.

After all, once a war breaks out in the stock market, prices will be very high.

The other side.

After Lin Ruihai failed with Tao Xinbo, he was not discouraged. Instead, he formed a department dedicated to acquisitions and waited for opportunities.

The first thing he needs to know is Singapore Land's shareholding structure, which is conducive to acquiring sufficient equity.

Of course, he would not foolishly absorb stocks from the market. After all, if that happens, the stock price will rise, which will be detrimental to him. Only after obtaining enough stocks from fund companies and securities companies will he choose to absorb stocks from the market and have the confidence to complete the acquisition.

Lin Ruihai knew some financial institutions in Singapore. At the same time, he also thought of Overseas Trust's investment department in Singapore. This was the financial department trained by his father himself and contained many professional talents.

Late March.

Cheung Kong Group, together with CITIC Group, won the development rights above Lam Tin MTR Station, which required a land price of HK$1 billion to be paid to the Hong Kong government.

This large-scale project was named ‘Huijing Garden’ by Lin Zhichao.

Although Hui Jing Garden is a "large-scale housing estate" that can provide 4,100 residential units, compared with the other three large-scale housing estate projects that Lin Zhichao is still planning, it is simply a little brother.

Laguna City in Cha Kwo Ling, Kowloon, is a complex of more than 8,000 residential units;

The Harbor Plaza in Ap Lei Chau has 12,000 residential units;

Kingswood Villas in Tin Shui Wai, New Territories, has 15,000 residential units.

The four large-scale housing estates are all planned to be launched in the 1990s and are expected to provide 40,000 residential units.

In the 1980s, the Cheung Kong Group was about to complete more than 70 real estate development projects. In addition to Whampoa Garden, there were also City Garden, Wo Fu Center, Chi Yuntai, Jubilee Garden, etc. The combined sales were expected to reach 55,000. residential units, accounting for about 22% of Hong Kong’s supply.

At the same time, Cheung Kong Group’s land reserves remain sufficient, with the floor area that can be built on the reserved land reaching 16 million square feet (excluding the planned four major housing estates).

In this aspect, it is currently similar to Sun Hung Kai.

(In the previous life, in the late 1980s, Sun Hung Kai’s land reserve was as high as 32 million square feet, while Henderson’s was 15 million square feet.)

Cheung Kong Group will increase its land bank to a reasonable level of around 20 million square feet (calculated in terms of buildable floor space) by the end of the 1980s. Of course, this cannot calculate the floor area of ​​the four major housing estates.

At the same time, the floor area of ​​Cheung Kong Group's commercial real estate has greatly increased with the completion of large-scale commercial real estate projects such as Exchange Plaza and Yangtze River Plaza.

Cheung Kong Group will form a "giant" real estate company in the 1990s.

This real estate 'Big Mac' company absorbed the Cheung Kong Group in the previous life, 35% of Land (Exchange Square, Victoria Harbor Centre, Star Plaza), 30% of Swire (Changjiang Plaza was Pacific Place in the previous life), Miramar Hotel, and Some of the assets of other Hong Kong companies, as well as a large number of overseas real estate assets.

this day.

Lin Zhichao attended the establishment cocktail reception of the ‘Peregrine Financing Company’, which was jointly established by Du Huilian and Liang Botao. With the help of Lin Zhichao, he invited the ‘Eighteen-Road Princes’ to help out.

The equity structure of Peregrine Financing Company is: To Huilian and Liang Botao each have 35%, and Hutchison Whampoa has 5.1%. Other shareholders include Hopewell Properties, Oriental Group, CITIC, Yuexiu, Shui On, New World, Henderson, etc., holding the remaining 24.9% %.

Du Huilian and Liang Botao had both helped Lin Zhichao, and in many cases they were free consultants. This time Lin Zhichao helped them win over the "Eighteenth Route Princes" to support them, which could be regarded as a return of favor.

You know, the fact that so many tycoons have joined Peregrine Financing Company means that once the backdoor listing is successful, its stocks will be very popular and become a star stock in the market.

The reception scene.

Lin Zhichao said to Liang Botao: "Botao, now that your company has been established, it will be easier for us to deal with each other in the future, so I don't have to worry about you always working for me for free!"

Liang Botao said quickly: "Lin Sheng, you are serious. You helped us invite so many friends to join us this time, and we are very grateful!"

Lin Zhichao smiled and said: "Then let's not be polite. We are all friends anyway. Now that you have a company, you can come to my place when you are free some other time and discuss some business!"

Liang Botao knew that the big boss had come to do the work for them, so he immediately said: "Well, let's make an appointment then."

Lin Zhichao plans to privatize Uniqlo Enterprises and Overseas Trust Bank. After all, he now directly owns Wharf Group and Cheung Kong Holdings. The two major listed companies have already piled up his wealth (Hutchison Whampoa and Hong Kong Electric do not count Lin Zhichao’s wealth. The rich list will not count).

Therefore, he wanted to keep a low profile and reduce his superficial wealth.

In this way, Yangtze River Industrial Group, Media Group, Universal Group, Uniqlo Enterprises, Shangri-La Hotel Group, and Octopus Financial Group are not listed companies.

It is only a group company controlled by the eldest son of Fannie and Freddie, as a listed company of the family.

Of course, Universal Group still controls a small listed company, Longfeng International, and Shangri-La Hotels Group also controls the listed Shangri-La Hotel in Singapore. As for Wharf Group and Cheung Kong Group, they also have some listed companies.

Cheung Kong Group also acquired the "New King Fung Development" owned by the Fung King Hei family in 1986. Lin Zhichao planned to cultivate this company for a period of time and later sell it to CITIC Hong Kong as a smooth favor.

New Jingfeng Development is actually Taifu Development in the hands of Cao Guangbiao in his previous life. However, the term "Taifu" has been used in "Taifu Tower" and "Taifu Plaza (the former site of Orchard Road and Miramar Shopping Center in Singapore)", and has long been used by Cheung Kong Holdings registered Taifu Company.

Currently, the Lin family’s shopping mall brands include: Raffles City (flagship brand), Yangtze River Plaza, Times Square (not a unique brand, there are many around the world), Pacific Plaza, Paragon, etc.