The birth of the Hong Kong Island family

‘Cheung Kong Group spent HK$8.02 billion to acquire the former site of Cheung Kong Industries’ Tseung Kwan O Steel Plant. ’

"Sun Hung Kai, together with the Ng Ting-fong family, Sino Properties and Ryoden Corporation, acquired a 77,800-square-foot land parcel in Wan Chai for HK$3.52 billion. The unit price exceeded that of the former Central District Fire Station site in 1987, reaching HK$45,200 per square foot."

"The Wharf Group invested S$301 million (HK$1.65 billion) to acquire a commercial land parcel on Orchard Road, Singapore"

In January 1989, Hong Kong's real estate business continued the lively scene of 1988, with several large-scale transactions concluded. Last year, there were more than 100 property transactions worth hundreds of millions in Hong Kong, with an overall premium of 40%.

Under such circumstances, Hong Kong businessmen are of course very optimistic about the economic situation in the new year, and their investment enthusiasm is high.

Hutchison Building.

In the conference room, Ma Shiminhui reported: "At the beginning of this month, Hutchison Whampoa officially acquired the mobile phone business of the British Quadran Group, officially taking the first step into overseas telecommunications. In the future, we will continue to acquire local paging companies in Australia. We have already We have reached an agreement with ellpage in Queensland and Answerpa in South Australia to acquire these two paging companies, and we will continue to look for acquisition targets.”

In energy and telecommunications, returns cannot be seen in the short term, but Lin Zhichao still insists on investing out of long-term interests.

Lin Zhichao said: "The telecommunications industry is changing rapidly and investment is huge, so we must be prepared for a protracted war."

Last year, Hutchison Whampoa's profits also exceeded HK$3 billion, which is not far behind its parent company, Cheung Kong Holdings. Of course, Cheung Kong Group often makes ‘non-recurring profits’, which is why it is so popular among investors. Cashing out of Japanese real estate is actually classified as ‘non-recurring profit’.

Ma Shimin nodded and said: "Energy and telecommunications are long-term investments, and everyone understands this. In terms of retail industry, Watsons currently has 260 stores, 152 overseas; PARKnSHOP has 175 supermarkets, exceeding Wellcome's 125 "We have 16 overseas pharmacies and 56 Wanning pharmacies. We already have 441 retail stores."

This does not include Fortress Electric, a subsidiary of Hong Kong Electric.

In fact, the Lin family is the absolute overlord of Hong Kong's retail industry, and it is impossible for citizens to leave the Lin family business every day.

From the moment they get up in the morning, there is more than a 20% chance that they wake up from a house developed by Changshi Real Estate; the newspaper they buy is more than 30% likely to be the "Oriental Daily"; the breakfast they eat may come from 7 ~11 convenience stores and PARKnSHOP supermarkets; the means of transportation they use to go to work may be the Star Ferry or the Hong Kong Tram. Even if they drive, they have to pay tolls at the Hung Hom Tunnel built by Lam; they are very likely to go to work in Changsha You work in an office building built by the Real Group; you may have Café de Coral and BreadTalk for lunch; half of the electricity you use at night may be from Hong Kong Electric

After listening to the work report, Lin Zhichao said to a foreign manager: "Johnson, Watsons should refer to the British Boots (Boots), which has greater potential and better products in the field of cosmetics, so I hope you can form a large-scale I want to see the detailed plan in one month’s time from the R\u0026D center.”

Watsons has always been a leader in the field of cosmetics, but Lin Zhichao feels that is not enough. After all, once the "Hong Kong culture" becomes popular, Watsons' cosmetics will inevitably become popular in Asia, and even develop throughout the world.

Qiao Sen said: "Sir Lin, what are the specific standards for the scale of this R\u0026D center?"

What he actually wants to say is that the Hong Kong market is too small and investment is too large to be necessary.

However, they also tactfully reminded Lin Zhichao of his authority.

Seeing that many people have such questions, Lin Zhichao said: "The prospects of Hong Kong's cosmetics industry have something to do with the development of my media group. This group is doing one thing, and that is to promote 'Hong Kong culture', such as Satellite TV is about to be born, allowing more people overseas to learn about Hong Kong's entertainment culture. Hong Kong's movie stars have great influence in Asia, and Hong Kong is known as the Oriental Hollywood. At the same time, the number of tourists visiting Hong Kong exceeded 15 million last year. The population is nearly three times that of our local population. In short, the development potential of Watsons is no less than that of British BOOTS. We will even consider acquiring BOOTS in the future. Therefore, we must invest as much money as possible in this R\u0026D center. I will participate in this work. ."

The senior executives in the conference room were surprised, and then their expressions turned into recognition.

Let me ask, a tycoon who dares to invest 7 billion US dollars to build a "new financial city" in London. Such a courageous boss may not have the opportunity to acquire BOOTS in the future.

Both BOOTS and Watsons are century-old companies, and Watsons is decades older than Boots!

Watsons also has many R\u0026D personnel, after all, many of its own products.

But this time, Lin Zhichao is positioning himself as a "cosmetics giant" to develop. With the influence of "Hong Kong culture", as long as there are enough excellent products, it can be achieved.

Qiao Sen then said: "I understand!"

Watsons' current annual turnover is as high as 7 billion Hong Kong dollars. It is a well-established large-scale retail group, so its president Qing Sheng is also among the top executives of Hutchison Whampoa.

Lin Zhichao nodded with satisfaction. When this large-scale R\u0026D center got on the right track, Lin Zhichao came up with a product, 'Cushion Foundation', which made him famous in the global cosmetics field.

From now on, let 'Hong Kong celebrities' speak for you, which will give you a proper bonus.

"How is the cooperation with P\u0026G in the Mainland?" Lin Zhichao asked Qiao Sen again.

"A joint venture has been established with a local company in Yangcheng, and the progress is relatively smooth," Qiao Sen reported patiently.

Last year, P\u0026G wanted to enter China and came to seek cooperation because of Lin Zhichao's political and business connections in the mainland.

Of course, Lin Zhichao readily agreed. After all, this is a promising industry, and P\u0026G has too many brands. Entering the mainland is simply a magic weapon. As a result, Hutchison Whampoa and P\u0026G established a "joint venture" in mainland China - P\u0026G-Hutchison, with Hutchison Whampoa holding 32% of the shares.

After listening to the report, Lin Zhichao said: "I will also personally participate in the development of the retail industry in the mainland, but you must research the local laws, regulations, conditions, etc. clearly."

"OK"

Lin Zhichao is still a little busy. For example, the dignitaries in the mainland almost look at his face before they will take care of his companies. Because of this, Lin Zhichao goes to the mainland more often.

Of course, starting from the 1990s, the mainland will indeed be a focus of Lin Zhichao's investment.

Finally, Lin Zhichao said: "The real estate invested by Hutchison in Japan will be sold this year. The real estate bubble in Japan is too big."

Ma Shimin said seriously: "It's a good expectation. About 1.6 billion US dollars will be withdrawn here. Hutchison Whampoa's cash flow will suddenly be very sufficient!"

Different from the previous life, Husky was subscribed by Hutchison Whampoa for 43% of the shares, while in the previous life it was subscribed by United Hong Kong Electric; Watsons also started developing in Southeast Asia, Japan, Taiwan, and South Korea a few years in advance.

But at the same time, Hutchison Whampoa's operating performance and non-recurring profits are much higher than in its previous life. Therefore, the current situation is that Hutchison Whampoa's capital investment channels cannot keep up with the speed of making money.

Lin Zhichao smiled and said: "With money in hand, we can choose investment projects with ease!"

Everyone laughed!

Although Hutchison Whampoa's current overseas investment situation is considered "poor", with only Japan performing well, to put it bluntly, this is the real estate industry that the boss is good at.

However, everyone’s enthusiasm for overseas investment has not faded. After all, it is impossible to become a global company while stuck in Hong Kong.

At the end of January, the Hong Kong government took advantage of the climax of the bidding for the "Land King" in Wan Chai and revealed that it would conduct a tender for the "Land King" in Garden Road, Central, in May, and it would be announced in July.

When the news came out, it immediately attracted attention.

With an area of ​​92,000 square feet, this land is already the last piece of valuable land in Central, Hong Kong (this is what everyone thinks, and it should be built on top of the Airport Railway Station in the future).

Scott Scott, chief land inspector of the Hong Kong government, promoted in the media that the value of this land is about HK$5 billion.

Analysts later predicted that the land would be worth HK$6 billion, breaking the record set by Exchange Square that year.

Cheung Kong Group.

Lin Zhichao sat in his office and watched the reports in the media.

He suddenly felt that Cheung Kong Group also needed this land. If the bid was won and a "Hengfeng Bank Plaza (two buildings)" was built, it would undoubtedly help Hengfeng Bank increase its influence.

It is best to let Cheung Kong Group and Hengfeng Bank cooperate in investment and use a 50-50 split model. Because banks generally do not directly participate in property management, Cheung Kong Group has a natural advantage.

As for the 'experts' in the media who said it would cost more than HK$5 billion, it is simply a joke.

Soon, Hong Kong's real estate and stock markets will experience a sharp decline (about 30%), and the immigration wave will become even more violent.

Therefore, Lin Zhichao believes that HK$3 billion can securely win the bid for this piece of land!

Of course, the specific situation depends on the market situation in May and June, but Lin Zhichao feels that this land should not be lost.

"Dad, American Southern Company, the parent company of 7-11 convenience stores, failed to diversify in 1987 and is on the verge of bankruptcy. I want to see if it can be acquired!" Lin Ruihuan walked in and reported.

After Lin Zhichao thought for a while, he said: "Let's go and inspect with Nissin Company, don't hurt the harmony."

Lin Ruihuan immediately understood and said, "Well, I will arrange it. And I will just pay attention first. After all, even if they intervene when they file for bankruptcy, they may have a more dominant position."

Japan's 7-11 convenience store operating rights are in the hands of Nissin, and Lin Zhichao's family holds 50% of Nissin's shares (not involved in the operation); but the friendship between Lin Zhichao and Momofuku Ando has always been very good.

Based on this, Lin Zhichao doesn't want to hurt the relationship between the two families because of this kind of thing. After all, 'Only harmony can survive.' The most suitable places for 7-11 convenience stores are the two big markets of Japan and the Mainland. As for other countries, they basically enter through cooperation with local companies.

Later, Lin Zhichao said: "Garden Road King, I plan to bid in the name of Cheung Kong and Hengfeng Bank!"

Lin Ruihuan said: "Dad, are you going to choose another Hengfeng headquarters building?"

The former site of the Central Fire Station was acquired by Octopus Financial Group for HK$880 million in 1987, with an area of ​​only 22,700 square feet. A first-class Grade A office building was built here and will be put into use in 1990.

Lin Zhichao laughed and said: "It happens that there is no name yet. If Garden Road wins the bid, we will build the 'Hengfeng Bank Center'. The building at the former site of the fire station will be called Hengxin Building!"

Lin Ruihuan nodded and said: "Okay, I will do my homework on the Hengfeng Bank Center later. I will definitely build it into a building comparable to the HSBC Tower and the Bank of China Tower."

Lin Zhichao nodded. He also had a new idea recently, that is, for the development of Hengfeng Bank, he could also consider listing the commercial banking part in the future to increase its influence. Of course, the premise is to spin off the investment banking business.

What he hopes more is to acquire an old investment bank in the future as the Lin family's investment bank and merge Hengfeng Bank's investment business with it.

The so-called investment bank, in addition to having direct investment channels for various financial products, is more importantly the amount of funds it manages.

For example, the Rothschild Family Bank in later generations was actually an investment bank, not a commercial bank, managing US$100 billion in assets.

The Spring Festival is coming.

This Spring Festival, all members of Sanfang will return to Hong Kong to celebrate the Spring Festival with everyone.

Although No. 79 Deep Water Bay is a bit old, as the 'Longxing Place', family members naturally gather here. Of course, each of the three bedrooms has its own garden-style villa, which is also very convenient for living.

An eighty-one-year-old woman, three wives, seven sons, seven daughters-in-law, and twenty-two grandchildren instantly made No. 79 Deep Water Bay bustling with activity.

Among them, although Kuang Meiyun is not married to Lin Ruicheng, because of the support of Lin Zhichao and Tang Caiying, she has now joined the Lin family tree with her three sons.

And Kuang Meiyun felt the "kindness" between Lin Zhichao and Tang Caiying, and decided not to marry for the rest of her life and to raise her three sons. In fact, it was the "moral kidnapping" of Lin Zhichao and Tang Caiying that made Kuang Meiyun become Lin Ruicheng's "wife" in a "not getting married" way.

Lin Ruicheng can roam outside, but he must take good care of Kuang Meiyun, mother and son. This is the order of Lin Zhichao and Tang Caiying. After all, now that Kuang Meiyun agrees with this model, what qualifications does he have to choose.

All members of the Lin family gathered at No. 79 Deep Water Bay on New Year's Eve, so there were layers of bodyguards outside.

"Everyone, come and take pictures!" Lin Zhichao called the family members to the lawn to prepare for this year's family portrait.

Soon, everyone came to the lawn with smiles on their faces.

The children are either sitting, squatting, or being held by their parents in the front row; in the middle is 81-year-old Wu Wenying, with Lin Zhichao and Tang Caiyun sitting on both sides of her, and on the outside are Tang Caiying and Audrey Hepburn; behind them On both sides, there were older children standing.

Seven couples stood in the back with their children in their arms.

The housekeeper, who had studied photography with Lin Zhichao, shouted excitedly: "Masters and ladies, please smile. Okay."

The servants on the side were also very excited. Being able to serve such a big family was like reaching the pinnacle of life.

The fact is that those who can serve the Lam family for more than five years are definitely Hong Kong's homeowners. Lin Zhichao himself has always personally taken care of the lives of those around him, and it feels like he is taking care of each other.

"OK"

The more people there are, the more lively it is. The most important thing is the unity of the Lin family, which is definitely not comparable to the Rockefeller family. Lin Zhichao affects his wife and son; his wife affects his son and daughter-in-law; his son affects his wife and children; and his daughter-in-law affects his children.

Through this kind of thought passed down from level to level, I believe that absolute harmony will still be maintained after the third generation reaches adulthood.

The fourth and fifth generations gradually formed a kind of ‘tradition’ and ‘belief’.

Of the 70 adult men in the Rockefeller family, 68 can unite as one to deal with Chase Bank, which is a great peak.