Chapter 1050: The Good Things in the Carrian Group
In the next few days, the business community in Xiangjiang was just as it had always been, with bargain hunters buying up bargains, sales taking place, and people withdrawing their money from the bank. There was no shortage of media news, with all kinds of explosive news being reported, leading to a surge in people buying newspapers.
Yan Wenhan had even specially compiled statistics, and found that the sales of all the newspapers published by Jiuding Newspaper Company had increased.
...
That morning, Zhou Keji, the general manager of Standard Accounting Firm, arrived at Xia Yu's office in high spirits.
'Chairman, the liquidation of the Carrian Group's assets is complete!'
Without even sitting down, Zhou Keji beamed as he handed Xia Yu the documents detailing the Carrian Group's assets.
Xia Yu took them with some surprise, and praised Zhou Keji with a smile, 'Keji, that's pretty efficient!'
Zhou Keji smiled modestly and explained, 'Chairman, it's all thanks to the people below, and the liquidation is just now complete, so I brought it right over.'
'Well done!'
'You also lead the team well!'
Xia Yu affirmed Zhou Keji's achievements and abilities, and then leafed through the list of assets of the Carring Group.
Seeing the list of real estate, construction, trade, shipping, tourism, insurance, film production, pest control, investment and other fields, with hundreds of companies under its umbrella, Xia Yu couldn't help but feel a little emotional.
Chen Qingsong is truly a genius. In just a few years, through continuous mergers and acquisitions and capital operations, he has turned a small company with a registered capital of 5 million Hong Kong dollars into a business empire spanning many fields, with three listed companies under its umbrella.
Because the Carrian Group has so many assets, the asset list has dozens of pages, and even though Xia Yu skimmed it quickly, it still took him more than an hour to read it.
After reading it, Xia Yu compared it with the detailed information on the Carrian Group that he had previously had investigated, and found that there was still a lot that he didn't understand.
After reading it, Xia Yu picked up his pen and started again from the first page.
He wanted to outline the acquisition targets that interested him.
The first was the equity of three listed companies: Carrian Realty, Vinda Shipping and Cheong Life.
Carrian Realty owned many properties and land parcels, many of which were in good locations and worth acquiring, although there were also many things he didn't need.
Xia Yu kept marking the properties and land plots that he liked, and skipped over the ones he didn't.
He marked a total of 12 properties and 17 land plots!
Then there was Weida Shipping Company, a company that mainly operates in the shipping industry and has a very wide range of business. The Carrian Group's stake in this listed company is as high as 65%!
It's only 1.4% short of an absolute majority!
But after browsing through it all, Xia Yu didn't want any of it. This company is a mess.
The future of the shipping industry is certainly bright, but for now, the global shipping industry is in a depression, and it is continuing to worsen. Veda Shipping Company is still losing money, and this is due to the general environment. Even if Xia Yu takes over, it will be difficult to develop well. In the current era of rapid development, a slight profit is actually equivalent to a loss!
Let's leave the assets of this company to those in need and see who can be cheated!
Then there is the last listed company, Kee Chang Life Insurance, whose full name is Kee Chang Life Insurance Company Limited. Founded in 1909, this insurance company is a well-established one with a significant market share.
Kee Chang Life Insurance's business focuses on life insurance, home water insurance and fire insurance, and it has branches and agencies in the UK, Australia, Malaysia, Singapore and Thailand.
This company was just acquired by the Carrian Group in June this year.
The Carrian Group used 6% of the issued shares of Carrian Property, totalling 15 million shares, to acquire a 46% stake in Kee Cheong Life Insurance from the majority Filipino shareholder, Aira International Enterprises Limited.
Just as Xia Yu's Jiuding Insurance Co., Ltd. is storming the throne of the insurance giants in Asia, Jason Gregg is still acquiring companies. Kee Cheong Life Insurance, an insurance company with tentacles reaching Hong Kong, the United Kingdom, Australia and Southeast Asia, is an excellent prey.
Needless to say, these 46% of the shares must be acquired in full!
Then find a way to buy the shares held by other people and privatise it as a wholly-owned subsidiary, which will definitely make Jiuding Insurance Co., Ltd. a lot stronger.
After checking out Qichang Life Insurance Company, Xia Yu continued to look down and kept checking and drawing.
When he turned to the second half, there was an asset that made Xia Yu's heart flutter.
This asset is a 21% stake in the island country's listed company, Live Entertainment.
The stake was acquired last December, when Carrian Properties Limited and Island-listed company Movie Live entered into an agreement to acquire each other. Carrian Properties acquired a 21% stake in Movie Live for HK$100 million, while Movie Live subscribed for 4,466,000 Carrian shares at a cost of HK$66,224,000.
In other words, Carrian Properties actually paid about HK$30 million in cash to control a 21% stake in Movie Live.
NIKKATSU was established in 1912 and was one of the earliest large-scale production companies in the island country. It was formed by the merger of four companies: YOSHIZAWA SHOTEN, the largest film distributor in the Meiji era, M. PATHE, FUKUHOU-DO, and YOKOTA SHOUTEN from Kyoto. Today, NIKKATSU's main business is entertainment, including film production and distribution, operating 428 cinemas in the island country, and also owning a lot of land reserves.
It is worth mentioning that after entering the 1970s, due to the economic development problems of the island country, NIKKATSU, in order to increase revenue, also got involved in the operation of (unsuccessful) movies, which made it the only major film company in the island country to get involved in this field.
However, Xia Yu was not tempted by this, nor did he want to be the principal of many teachers. What tempted him was NIKKATSU's huge cinema line and distribution network.
Just think of his Universal Cinema Circuit, which only recently broke past 700 cinemas, and that's still the number of cinemas worldwide. If you only count the number of cinemas on the island, there are only 72.
How many cinemas does NIKKATSU have?
428!
This number is the largest cinema circuit in the island!
NIKKATSU has been able to maintain its position as one of the top five film giants on the island thanks to this huge cinema circuit.
If the Universal Cinema Circuit could merge with the theaters of the Nikkatsu Film Corporation, it would become the leader of the cinema market in the island country, and the island country's film market would have to look to it.
And his Galaxy Film Corporation would also be able to thrive in the island country's film market!
There are so many benefits!
There is no need to hesitate, you must take it!
Xia Yu drew a line with a flourish and decisively outlined it!
After the Nikkatsu Film Corporation, there are not many assets that could interest Xia Yu.
After sketching it out, Xia Yu reclosed the file.
Once again, he praised Zhou Keji, 'The assets are clearly listed and the arrangement looks very comfortable.'
'Thank you, Chairman!'
Zhou Keji said modestly, but the smile at the corner of his mouth showed the emotions he was feeling.
Xia Yu's eyes flashed with satisfaction, and after thinking for a moment, he told Zhou Keji, 'Keji, the affairs of the Carrian Group are now over, and the rest will be handled by the Xiangjiang High Court. I will arrange for someone else to take charge, but you can't relax yet.'
'Right now, many of our sister companies are scrambling to buy assets at bargain prices. Time is money, and the faster the liquidation of assets, the better. This requires a lot of effort from your side.'
'Moreover, many Hong Kong tycoons such as Bao Yugang and Huo Yingdong have also spoken to me, and they need the strong support of Standard Certified Public Accountants. Don't let me lose face.'
'Therefore, you must do a good job scheduling. This is also an opportunity for the rapid growth of our Standard Certified Public Accountants. We must not be careless.'
Zhou Keji's expression was serious, and he nodded in response, 'Chairman, I will definitely bear your teachings in mind. Standard Certified Public Accountants will definitely not hold the group back, and we will not let you down!'
'Hm!'
'We'll see how you perform!'
'If there's nothing else, you can go back to work. Do a good job!'
'Yes, Chairman, I'll go now!'
Seeing Zhou Keji slowly leave, Xia Yu gave a satisfied smile.
After sitting in his seat for a while, he picked up the phone and called Liu Tianci, asking him to send someone over to pick up the list of assets of the Carrian Group that he had annotated, and instructing him to cooperate with Jiuding Securities Company. After the High Court of Hong Kong announced the auction of the assets, he must take the acquisition target he had outlined.
The reason for involving Liu Tianci was also to take into account the fact that Sun Hung Kai Bank was a major creditor of the Carrian Group and had not recovered more than 300 million Hong Kong dollars in loans to it.
As a major creditor, Sun Hung Kai Bank of course had a certain priority in asset liquidation, and with his connections, it was possible to take over some assets in advance to pay off debts, without going through the asset auction process. The transaction could be completed directly using the appraised price, saving acquisition costs and time.
After talking to Liu Tianci, Xia Yuben wanted to call Wang Qi, but after looking at the time, it was just before 11am. After thinking for a moment, he set off for Jiuding Securities Company.