Chapter 936: The grudge between Huo Yingdong and the gambling king

Huo Yingdong sighed, 'I don't know if you've noticed the shareholding structure of STDM. Stanley Ho himself and his Shun Tak company in Hong Kong hold a combined 35%, his sister, Ho Yuen-ki, holds 14%, and his brother-in-law, Yip Tak-lei, holds 10%. So the Ho family holds a total of 59%, and STDM is effectively controlled by Stanley Ho.'

'I now regret working with Stanley Ho, who has continuously diluted Ip Hon's shareholding, causing him to hold only 10% of the shares and be driven out of STDM. He has never set foot in the Lisboa Hotel in the past two years.

'Although I have always held 30% of the shares, I have never cared about management rights. This has resulted in STDM's accounts never being clear, and my annual dividend is estimated to be only 1%.

'And when the company was founded 20 years ago, it was already decided that 10% of the annual revenue would be used for public welfare. But it was only implemented in the early years when I was the chairman. Later, after the Ho family took control of STDM, STDM became more and more profitable, but Stanley Ho never implemented it again. I have argued with him many times about this.'

Xia Yu nodded slightly with a thoughtful expression on his face.

Seeing that Xia Yu had listened, Huo Yingdong hesitated for a moment, and a determined look flashed in his eyes as he asked, 'Yu, let me ask you something. If it's convenient, just answer.'

Xia Yu nodded casually, 'Go ahead, between the two of us, when did we become so formal?'

Huo Yingdong suddenly asked, 'I heard that you are dating Stanley Ho's daughter?'

There is nothing to hide about this matter, and he has also appeared in public with Ho Chiu King many times, so it is certain that people know about it. Now that Huo Yingdong has asked, Xia Yu nodded and replied, "It's true, so what?'

Huo Yingdong was not surprised and said with a smile, "I watched Stanley Ho's daughter Chiu King grow up, and she is a good girl. You two are a perfect match!'

'Haha, thanks!' Xia Yu smiled and said thank you.

After the praise, Huo Yingdong's face became serious and he changed the subject, saying, 'But even if you and Stanley Ho become father-in-law and son-in-law in the future, I still want to remind you to be on your guard against Stanley Ho. I have worked with him for decades. At the beginning, I was fishing for seaweed in the sea, and Stanley Ho was my buyer.'

'His ancestor, Ho Tung, was a Dutch-Jewish, and you should know what Jews are like. Stanley Ho has always put profit first in everything he does, unlike us Chinese who value friendship so highly.'

'If I hadn't been so lucky, I wouldn't be here today, and I might have ended up in some corner somewhere, dead or alive.

'You are with his daughter, so you will have more opportunities to work with Stanley Ho in the future. I know that with your wisdom, you will not necessarily be taken advantage of by him, but you should still be careful.'

Xia Yu nodded solemnly and said, 'Fok, thank you for your reminder. My advantages are not so easy to take. Unless I am willing to give them away, no one else can take them and not give them back.'

After saying this, Xia Yu suddenly asked curiously, 'Lao Huo, tell me about the matter between you and Stanley Ho. The news outside is all over the place, and I don't know which is true or not.'

Fok Ying Tung smiled helplessly. Over the years, he has heard a lot of gossip about him, some true and some false, and he has never bothered to argue.

But now that Xia Yu has asked, and considering that he can also give Xia Yu a direct feeling, he nodded slightly and said, 'Okay, in ancient times, Cao Cao and Liu Bei discussed heroes over a cup of wine, and today I will brew tea with you and chat about gossip.'

Seeing Huo Yingdong say this seriously, Xia Yu couldn't help but laugh, then suppressed the smile and looked at him quietly.

'Stanley Ho and I first met in 1949. I was 26 years old that year, and Stanley Ho was probably 28. He was a member of a wealthy family, while I was a grassroots who had worked hard for many years and barely had enough capital to start a Chinese herbal medicine business.

'Stanley Ho happened to be my buyer at the time. He needed a batch of seaweed, so I took the order and hired more than 100 people to go to Sha Island to salvage the seaweed. At that time, I really risked my life for it.'

'After we had salvaged enough seaweed, we were ready to let Stanley Ho weigh it. However, he complained that my seaweed still had a little bit of sand in it because it had absorbed too much seawater. He insisted that I wash the seaweed clean and dry it again, otherwise he wouldn't take it.

'At that time, all the seaweed on the market was sold as soon as it was fished up, and the buyers took care of the processing. But the amount I fished up at that time was too large for ordinary people to eat. If he didn't accept it, I would probably lose everything. I had no choice but to do as he said. In the end, the weight was more than halved. After selling it, and after deducting all the costs, the 100,000 Hong Kong dollars I had invested was gone, and I had to start saving again.'

'...'

'Later, when Stanley Ho was bidding for a gambling license in Macau, he was not strong enough, so he used me as a decoy to get me into the game... I lent him the HK$400,000 for the bid, but he has never repaid me. After the bid was successful, Stanley Ho didn't have the capital and wanted to take more shares, so he shamelessly asked me to lend him HK$2 million Hong Kong dollars to buy shares in STDM. He later repaid me, but even so, at the time, I was the largest shareholder, Stanley Ho was second, and Ip Hon was third... After repeated schemes, my stake shrank to 30%, while Ip Hon, the only one proficient in gambling and responsible for operations, was diluted to 10% and driven out by Stanley Ho.'

'...'

'In 1967, I had already had a relatively large influence in the real estate industry in Hong Kong. Ho Wang-san joined me, along with two other people, to establish the Kowloon Real Estate Company, which developed quite well... Later, I offended the US government because I helped transport contraband from the mainland, the US government issued a ban prohibiting the sale of American goods to the building I was involved in. In order not to drag Stanley Ho and the others down with me, I offered to take over their three shares at a high price of 38 million Hong Kong dollars, so that they could get out of it. I took on the pressure and risk alone.'

'But what made me feel cold was that despite my loyalty, Stanley Ho and the other two turned around and sold the company's shares to Jardine Matheson's Hongkong Land. What made me feel even colder was that Hongkong Land offered a lower price than I had, and they didn't pay all the money at once!

'In the end, Hongkong Land took over Kowloon Properties and I was thrown out of the company.

'It was because he was afraid of offending the British and Americans that Stanley Ho turned his back on me and betrayed me, despite all the kindness I had shown him over the years. At that time, I turned my back on him.'

...

'As the saying goes, it's easy to change the landscape but hard to change one's nature!'

'To this day, I have long since seen through him. Stanley Ho can be trusted but not deeply. My relationship with him is limited to that of an ordinary friend and business partner, nothing more!'

After a sigh, Huo Yingdong then comforted Xia Yu, saying, 'Yu, to speak from the bottom of my heart, SJM is a profitable company with a promising future, but unless you can convince Stanley Ho, it's better to invest the money in other areas.'

'For others, SJM still has some value, but I'm not interested in the spinach industry, so it's not worth it to me.'

'In total, the money I invested in STDM was only 20 to 30 million Hong Kong dollars, and most of it went to the construction of the Grand Lisboa Hotel.'

'So don't take the STDM shares so seriously. I'm not joking when I say I'll give them to you. They're not worth much to me, and I'm not interested in them. I originally had the idea of selling the STDM shares at a low price, but now I'll just give them to you. Just don't be offended.'

After listening quietly to Huo Yingdong's words, Xia Yu was full of emotions. While admiring Huo Yingdong's sense of responsibility and loyalty, he also had a clearer impression of Stanley Ho.

The contrast between the two was too stark!

It was true that people who valued relationships were always hurt by those who valued profit.

'Huo, thanks for the reminder. There are all kinds of people, and it's good to have many friends, just a few close friends is enough,'

Xia Yu said in a reassuring tone.

Huo Yingdong laughed heartily and said with a carefree air, 'Yu, you're right. In life, having two or three bosom friends is enough. You and Lao Bao are my bosom friends. It is a lifelong blessing to be able to keep in touch with you even as I grow old!'

Xia Yu also laughed and said, 'Huo, it is also an honour for me to have met you!'

'Hahaha...'

The two men smiled at each other, quite understanding each other's feelings.

After laughing, Xia Yu suddenly said, 'Lao Huo, since you plan to find someone to sell your stake in STDM, why not sell it to me as well? I'll take advantage of you a bit. I'll only pay 700 million. What do you think?'

Fok Ying Tung frowned slightly. Instead of discussing the price, he asked, "Yu, are you planning to fight Stanley Ho?'

Xia Yu shook his head and laughed, "No. After all, he is Chao Qiong's father. I won't let Chao Qiong be caught in the middle and suffer.'

'I have three main considerations. One is that STDM has some value and is one of the channels for investment and capital preservation.'

'The second consideration also came to me just now after listening to what you said about Stanley Ho. Since it is inevitable that I will have to deal with Stanley Ho in the future, I might as well prepare in advance and establish a foothold in STDM first, which will also make Stanley Ho think twice.'

'The third consideration is the most important, and that is the future of Macau.'

'Macau will definitely return to China, and STDM is the main pillar of Macau. STDM's tax revenue accounts for about half of Macau's GDP. So from a broader perspective, STDM is related to the future of 500,000 to 600,000 people in Macau. I hope to be involved and play a role in the smooth return of Macau to the mainland. At the very least, I can stabilise the situation. Even after the return, if Macau wants to transform, I can prevent STDM from becoming a stumbling block for profit reasons!'

These are all true words, except that Xia Yu left out one thing: he hopes to increase his influence in Macau, both before and after the handover. Having more influence is beneficial to him!

Huo Yingdong sighed, 'Yu, since you've already thought it through, I'm relieved!'

'I'll transfer all my shares to you, and you don't need to tell Stanley Ho, but you need to think of a way to lower his guard.'

'The remaining 20% of the equity certificate is right here at my house. I'll have someone come over to draw up the contract.'

Xia Yu smiled and said, 'You can draw up the contract, but we have to agree on a price. According to the valuation of STDM, your 30% stake is worth 720 million Hong Kong dollars. I'll take a little advantage and give you 700 million Hong Kong dollars!'

Huo Yingdong's face fell, and he said with a determined attitude, 'Ah Yu, I know the true situation of STDM better than you. The valuation by Economic Digest was wrong, and it must be because they did not consider the financial and dividend problems of STDM. Think about it: I hold 30% of the shares, and the dividends only account for about 1%. The value of this stake has shrunk by more than half. I'll take advantage of you a bit too. Let's say STDM is valued at HK$1.2 billion, and you can just give me HK$360 million.'

'Compared to the HK$20-30 million I invested, even taking into account currency depreciation, I've still made over HK$200 million!'

'I'm very content!'

'Brother, I have a face too. Thanks to you, brother, I've made over HK$3 billion, both before and after taxes, and it's all liquid capital. My net worth has more than doubled!'

'If you give me face, brother, this is settled!'

'You wait here for a moment while I make a phone call!'

After saying this, without waiting for Xia Yu to reply, Huo Yingdong suddenly got up and walked straight towards the villa.

Xia Yu was at a loss for words, but there was a warm feeling in his heart.

This is a true friend!

When he brought Huo Yingdong and Bao Yugang to make money, he also hoped that these two true patriots could make more money. Although he had the idea of deepening their friendship, he never thought that they would repay all their debts.

But just because he didn't think about it doesn't mean that he doesn't want to see Bao Yugang and Huo Yingdong show their gratitude. Huo Yingdong's attitude is proof enough that what he did was the right thing.

Since Huo Yingdong had brought it up to this point and he couldn't refuse after being pushed a few times, he might as well accept it. After all, he asked himself, he would never let Huo Yingdong lose out in his life.

Soon, Huo Yingdong returned with the remaining 20% proof of equity ownership. Not long after, the lawyer also arrived, and Huo Yingdong also had a printer at home.

The price was still based on what Huo Yingdong had said, and the transfer price of 30% of the equity was 360 million Hong Kong dollars.

Huo Yingdong gave the proof of equity ownership and contract directly to Xia Yu, and said that if Xia Yu had time, he could transfer the money to his personal account at Jiuding Bank, and then he would not mention it again. It was very neat and tidy.

After the deal was done, the two men continued to chat over tea.

Suddenly, Huo Yingdong put down his teacup and said to Xia Yu, 'Oh yes, Ah Yu, I almost forgot to remind you of something.'

Xia Yu asked curiously, "What is it?'

Huo Yingdong said, "It's still about STDM. The company still has a shareholder, Ip Hon. Although he was kicked out by Stanley Ho, he still holds 10% of the company's shares.'

'After being driven out by Stanley Ho, Ip Han refused to admit defeat. He invested 150 million patacas in the reclaimed land of Taipa to build a horse racing track. The horse racing track covers an area of 213,000 square metres and officially opened last year to hold horse racing competitions, in a bid to steal Stanley Ho's dog racing business. However, Ip Han, an old hand, lost his footing and the horse racing track has been operating at a loss since it opened.'

'So now Ip Hon is under a lot of financial pressure and he desperately needs money!'

'Although he holds 10% of the shares in STDM, he can never go back to STDM in his life, and Stanley Ho has never given him any dividends. This means that Ip Hon's shares are locked up, which is the worst of all possible situations for him.'

'The reason why he still holds the shares is that no one is looking to buy them from him, and he can't let his pride get in the way.'

'As long as you pretend to be hostile to Stanley Ho and make a suitable offer, it shouldn't be a problem to take over his stake.'

'Together with the existing shares you own, you can increase your shareholding to 40%. Although this shareholding ratio cannot affect Stanley Ho's control, your say will increase a lot, and at the very least, he will not dare to arbitrarily deduct your dividends.'

Xia Yu nodded and said, 'I understand. I will arrange for someone to contact him after I get back.'

'Lao Huo, thanks!'

Huo Yingdong smiled and waved his hand, 'Don't mention it!'

'Come, have some tea!'

...

When it was past 4:00 p.m., Xia Yu proposed to take his leave. Huo Yingdong saw Xia Yu out the door, and before Xia Yu got into the car, he repeatedly told him to come again next time he was free, and Xia Yu kept saying yes.

Finally, Huo Yingdong watched Xia Yu's convoy drive away.