Chapter 260 Two Billion Transferred, Re-electing the Chairman of the Board
It wasn't until around 10 a.m. the next day that Lin Haoran received a call from Shen Bi.
Knowing that Shen Bi would likely call in the morning, Lin Haoran had simply stayed home waiting and didn't rush out early.
"Mr. Lin, sorry for the wait.
Our senior management meeting wasn't successfully held until 9 a.m. today.
Regarding your loan application, after discussion, all senior executives have approved it.
You can bring the Hongkong Electric shares over for collateral, and once we sign the contract, I'll immediately approve the loan and transfer the funds to your HSBC account!
Also, regarding your investment into Hongkong and Shanghai Bank as a shareholder and board member, we plan to hold a press conference within three days to announce it.
I'll inform you of the exact time later," Shen Bi said over the phone.
Originally, Shen Bi had mentioned that the matter might be finalized yesterday evening, but it was obvious that hadn't been possible.
For Lin Haoran, a little delay didn't matter.
As for becoming a shareholder, it was clear Hongkong and Shanghai Bank wanted to use the news to boost public confidence by showing that a rising Chinese tycoon had joined their ranks.
Hong Kong was, after all, a city dominated by Chinese, and HSBC primarily served Chinese clients, so winning over public sentiment was crucial.
Otherwise, HSBC wouldn't have gradually begun admitting Chinese board members.
"Alright, Mr. Shen.
I'll head over to HSBC's headquarters in about half an hour.
Looking forward to seeing you again," Lin Haoran said with a smile, hanging up.
Two billion Hong Kong dollars were finally about to hit his account—how could he not be pleased?
Although it was a loan, Lin Haoran was confident he could repay it easily when the time came.
After grabbing the Hongkong Electric share certificate, Lin Haoran left Shixun Road Villa with Li Weidong and Li Weiguo.
Living at Shixun Road was highly convenient; whether heading to Causeway Bay, Wan Chai, Central, or Sheung Wan, it all took less than twenty minutes.
Sure enough, about twenty minutes later, Lin Haoran arrived once again at Shen Bi's personal office at HSBC headquarters.
"Apologies for keeping you waiting, Mr. Lin.
Originally, I had planned for the meeting yesterday afternoon, but some senior executives were unavailable, so it was delayed until this morning," Shen Bi apologized after they sat down.
"No problem.
It's just a matter of a little time.
If everything is in order, let's proceed with signing the loan contract.
I've brought the Hongkong Electric share certificates," Lin Haoran said with a smile.
"Of course.
The loan contract is ready.
Please review it," Shen Bi said, handing over the contract.
The contract was in English, but that posed no difficulty for Lin Haoran.
He carefully read it twice, ensuring there were no issues.
All terms—interest rate, duration—matched what they had discussed.
Currently, the standard bank loan interest rate in Hong Kong had soared above 13%.
However, Shen Bi had offered Lin Haoran a discounted rate of 10% annually.
Thus, borrowing HK$2 billion meant he would pay HK$200 million in annual interest.
It sounded hefty, but compared to the benefits he stood to gain, HK$200 million was trivial.
If he could take control of Hongkong Land, paying a bit of interest was a small price.
Hong Kong's interest rates had skyrocketed—from around 5% in 1978 to double digits now.
Back in March, rates had even peaked at 16%.
They had only slightly decreased recently.
Next year, they would surge even higher, reaching over 20% in October.
The booming property market allowed banks to rake in huge profits.
"Alright, let's sign it," Lin Haoran said without hesitation.
Thus, they signed two copies of the loan contract.
Shen Bi then stamped them officially.
"Mr. Shen, it's always a pleasure doing business with you," Lin Haoran said as they shook hands.
"Likewise," Shen Bi replied, smiling broadly.
Even for a banking giant like HSBC, a HK$2 billion loan wasn't trivial.
But with Hongkong Electric shares as collateral, there were no concerns.
"Now that the contract is signed, I'll arrange the fund transfer.
Mr. Lin, please wait in the VIP lounge," Shen Bi said after checking the documents.
"Thank you," Lin Haoran replied.
Following Senior Client Manager Miss Huang, he went to a comfortable VIP room to wait.
After the funds arrived, he still needed to transfer HK$60 million to the four former TVB shareholders from the Lee family.
Also, Huanyu Investment's stock trading account needed more cash injections.
At noon, Lin Haoran left HSBC headquarters with a satisfied smile.
Everything was settled.
Funds were no longer an issue for now.
He could continue accumulating shares in Hongkong Land and Jardines Matheson without pressure.
Especially Hongkong Land—he now felt very confident about gaining control within the year.
After all, as of the previous day, Huanyu Investment already held 26.27% of Hongkong Land.
And let's not forget: Hongkong Electric also held 6% of Hongkong Land shares.
Since Hongkong Electric was under his control, that 6% was effectively his.
In other words, Lin Haoran now controlled over 32% of Hongkong Land.
He could probably launch a takeover bid right now if he wanted.
But he wasn't in a hurry.
He planned to continue accumulating quietly.
Huanyu needed to hold at least 30% alone.
Although accumulation would slow down now, every additional share strengthened his position.
After all, Jardines and Jardine Fleming Securities together held about 20% of Hongkong Land.
But other British investors also had stakes—some public, some not.
Even Lin Haoran couldn't be sure exactly how much the British financial groups controlled.
However, it was definitely over 30%.
Thus, his goal was simple: acquire as much as possible!
Once he revealed his ambitions, if he hadn't secured enough shares, Jardines would definitely mount a defense.
When it came to Hongkong Land, the takeover had to succeed on the first strike!
...
Meanwhile, in Kowloon Tong, Broadcast Drive, at TVB headquarters.
Run Run Shaw had just come over from Tseung Kwan O.
He walked into TVB, one of Hong Kong's most famous television stations, and found it eerily quiet.
Although Shaw was only a non-executive director, as the second-largest shareholder, he had considerable influence and often visited.
Greeting the staff as he went, Shaw headed to the chairman's office.
Opening the door, he looked at the photo of Lee Siu Ho hanging on the wall, feeling a pang of sadness.
He had known Lee for decades—a deep friendship.
Although his grief was fleeting, he still felt it.
At his age, he had seen many friends pass away—his own father, his elder brother...
Death was an old acquaintance now.
There was a knock at the door.
"Come in," Shaw said.
TVB's General Manager Yu Bok Kwan entered.
"Mr. Shaw, Chairman Lee has been gone for several days now.
TVB can't remain without a chairman.
I plan to organize a board meeting to elect a new chairman.
What do you think?" Yu asked respectfully.
"Yes, we do need to elect a new chairman," Shaw nodded.
Although day-to-day operations were managed by the General Manager, the chairman's role was still vital.
"Personally, I believe Mr. Shaw would be the ideal new chairman," Yu added quickly.
"Let's see what the Lee family's intentions are first.
If they want the role, I won't fight them for it," Shaw said.
After Lee Siu Ho's death, Shaw hadn't yet discussed TVB's future with the Lee family.
"If the Lee family wants to appoint someone, only Mr. Lee Ming Chak is suitable.
But he's never shown interest in television," Yu remarked.
"Has there been any major disturbance at the company these days?" Shaw asked, changing the topic.
"None at all.
Before passing, Chairman Lee had already made detailed work arrangements.
I'm just following them.
Everything's stable," Yu replied.
After a few more words, Yu left.
Run Run Shaw sat quietly in the chairman's office, deep in thought.
"Looks like I need to talk to the Lee family soon," he muttered to himself.
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