Chapter 940: Fall

In the afternoon, under the recommendation of Ye Jianbin and Ma Wenqu, chairman of the board of directors of Nanyang Shipping, Zhang Ke met with Li Yaohua, vice president of Singapore Port Group, at the Peninsula Hotel.

Nanyang Shipping has actively invested in the construction of seaport terminals in various parts of Asia over the years, but it still lacks the experience of taking over the construction of comprehensive super-large deep-water seaports, not to mention the important task of planning and construction of Lingang New City and the port industrial zone. Singapore Port Group has much richer experience in this area, and in Asia, Singapore's port management level is also first-class. Introducing Singapore Port Group to the Dongshan Island port construction project is not just to share the pressure on construction financing.

Although Singapore has supported this financial crisis and its economy has not suffered a heavy blow, the financial crisis with such great destructive power has also left all classes in Singapore feeling scared. Singapore Port Group naturally has new thoughts and adjustments on its future development direction.

It has been almost three months since Nanyang Shipping and Kumho Commercial jointly negotiated with Singapore Port Group. In the past two months, Singapore Port Group has sent a delegation to Xinting for inspection three times, and separately commissioned the Singapore Channel Design Institute to conduct full-time sea surveys and scans of the Xinting Port Bureau's design channel. It also mobilized a super-large bulk cargo ship with a draft of 17 meters deep under the Singapore Port Group to conduct trial voyages on the waterway, confirming that the Dongshan Island Channel is the best deep-water seaport resource north of Wenzhou Port and south of the Bohai Bay. After the inspection work was completed, the Singapore Port Group quickly made a decision to reach a cooperation intention to jointly invest in the construction and management of Dongshan Island, and become the co-initiator of the Dongshan Island port construction project.

Lee Yaohua's trip was to Xinting and signed an intentional agreement for port development cooperation on behalf of Singapore Port Group. There is no direct flight from Singapore to Kingsoft, so he can only transfer in Hong Kong. However, there will be no plane to Kingsoft until tomorrow morning.

Up to now, the cooperation framework for the development of Dongshan Island by the seven Dongshan Island port construction project sponsors including Nanyang Maritime Transport, Singapore Port Group, Kumho Commercial, Xinting Port Bureau, Donghai United Steel Group, Yangpu Shipbuilding Group and China Ocean Shipping Group has been initially determined. It will be officially launched immediately after the approval procedures of various ministries and commissions of the State Council are completed.

According to the provision that the port investment owned capital is not less than 40%, the initial capital of Dongshan Port Development Group Co., Ltd., with a total investment of US$2.5 billion in the first phase, will be as high as US$1 billion. Kumho Commercial will inject capital of US$160 million and hold 16%, Nanyang Shipping injects capital of US$180 million and hold 18%, Singapore Port Group injects capital of US$150 million and holds 15%, and the total holdings of the three overseas companies is 49%. The Xinting Municipal Government invests US$100 million in Dongshan Island land resources and 60 square kilometers of sea resources for US$100 million, and jointly holds Donghai United Steel Group, Yangpu Shipping Industry, and China Ocean Shipping Group jointly holds the remaining 51% of the shares. This arrangement is also to avoid problems in the approval process and will at least ensure the country's controlling stake in Dongshan Island in the future.

In addition to the direct capital of 900 million US dollars, the first phase of the port project has a construction funding gap of 1.6 billion US dollars, which will be shared by the promoters in the form of debt financing in the form of debt financing. Kumho Commercial and Nanyang Shipping will also bear US$5.44, and will take out a total of US$850 million in real gold and silver. The financial strength of Singapore Port Group is naturally not to be questioned. The investment part of Donghai United Steel Group and Yangpu Shipping Group is supported and guaranteed by the Donghai Provincial Government. It is not a problem. As the largest state-owned marine transportation group in China, China Ocean Shipping Group, even if its own capital is somewhat insufficient, the bank will not be a problem.

In addition to port construction, Dongshan Port Development Group will also undertake the construction of supporting projects such as water supply and power supply. The investment in the first phase of the thermal power plant, which is under construction by Deli Group, a subsidiary of Singapore Port Group, is as high as US$500 million. The actual cost of the port's first phase infrastructure is less than US$2 billion, including the investment in a cross-sea bridge with a direct span of five kilometers connecting Dongshan Island and the coast.

Jiangnan Province and Xinting City do not seem to have to invest directly, but in addition to power supply and water supply supporting projects, the investment in supporting projects such as communications, highways, railway transportation connections will not be less than 2 billion, which does not include the construction costs of the Jinshan, Huishan to Xinting Expressway Network and the expressway section from Xinting to Port.

Port construction requires industry support to highlight huge value. The Lingang New City and the port industrial park that rely on Dongshan Port are the giants for future investment.

In addition to the steel industry base and shipbuilding base that have determined their investment intentions and are planning, the Xinting Municipal Government is consulting with the Singapore government, hoping to jointly develop the remaining part of the port industrial park and the Lingang New City, and plans to reclaim the cofferdam on the ground on the coastal tidal flats east of Dongshan Town and west of Dongshan Island (Dongshan Port). The preliminary investment budget for the reclamation of 15,000 mu of land for the first phase of the steel industry base alone will reach 600 million yuan. If an agreement is reached with the Singapore government, the total investment in the entire cofferdam reclamation project will exceed 10 billion yuan. After the sea enclosure project is completed, the port industrial park will accommodate hundreds of billions of investments.

This was definitely an amazing project in China in 1998, and it was rare even if it looked around the world.

Zhang Ke's plane will return to Jianye tomorrow afternoon, and he has no plans to go to Kingsoft to attend the signing ceremony of the initiator's cooperation intention. Everything will require the official approval of the State Council, and it may take another month or two to get to know each other.

The dinner was accompanied by Ye Jianbin, Ma Wenqu and Zhang Ke returned to the Renaissance Seaview Hotel, and had to have a dinner with Deyi's senior vice president Del Fassi in the evening.

After arriving at the hotel, it was still early, so I accompanied Tang Jing to the exhibition hall for a walk.

In 1998, domestic enterprises also formed groups to participate in the Hong Kong Electronics Exhibition, but the mainland pavilion area assigned to domestic enterprises by the management department was temporarily renovated from the underground garage, and the seat was relatively remote. Zhang Ke and Tang Jing took a look around. Many people would not notice the narrow passage that turned around in the main exhibition hall. The passage was in the corner of the toilet on the first floor, and it was black and deserted. If Zhai Danqing had not led the way, Zhang Ke would have thought that there would be a ghost if he could touch it.

"Domestic companies complain about this," Zhai Danqing talked about the situation of participating in domestic companies, "and planned to join forces to find the management department to make an explanation..."

The exhibition area is not full of light and the traffic is very small. It is indeed unfair to throw it into this corner. Although Hong Kong has been back for more than a year, all kinds of prejudices still exist. Zhang Ke told Zhai Danqing: "You call anyone in charge of the exhibition in Kumho and try to provide some help."

Ge Yinjun walked towards him. He saw Zhang Ke and the others first. He hesitated and turned his head away and passed by Zhang Ke and the others, without even the courage to look at Zhang Ke.

The Hong Kong Autumn Electronics Exhibition is more like a trade show. It is not surprising that Ge Yinjun appears in the mainland museum area. It is not surprising that he hides here and walks away.

Zhai Danqing looked back at Ge Yinjun, saw him speeding up his pace and leaving the entourage, and asked Zhang Ke: "How many days have the Hong Kong Securities Regulatory Commission officially intervened in the investigation of Chiaxin Electronics? What are your results?"

"Pay fines and sign a settlement agreement to terminate the investigation of Jiaxin Electronics by the Securities Regulatory Commission," Zhang Ke smiled, "There are not many choices left for them... They transferred the overseas business of Kewang, which actually lost 200 million yuan at the end of last year, to a listed company. The business continued to lose more than 100 million yuan this year, which ensured that Kewang profits from overseas business. Ge Mingxin and Ge Yinjun personally paid the fines not less than twice this number. I wonder if their fathers are so rich..."

Not to mention the glory of the Ge family, the assets under the name of Ge Mingxin and Ge Yinjun and his son exceeded 15 billion at the peak. Even at this time, the assets under their name would not be less than 4 billion. However, these 4 billion assets mainly exist in the form of equity assets of the Charles Schwab Group. Zhang Ke believes that Ge Mingxin and Ge Yinjun's private name should have extremely limited assets. Zhang Ke thought he was also considered a rich man - the fingers of the invisible rich man who could be richer than him in China could definitely count the fingers of one hand, but the assets under his name were mainly Jinhu's equity assets. Even if he likes cars very much, in order to avoid taxes and facilitate management, the luxury cars he provided for him every year are purchased in the name of the company. The private assets outside of Jinhu together may only be 10 or 20 million. Zhang Ke often joked with Du Fei not to borrow money directly, because he did not have a penny in his wallet for many hours.

Kewang Overseas Company is a company registered by Ge Yinjun. If you have to pay a fine, it can only be Ge Mingxin and Ge Yinjun pay a personal penalty. Such a huge fine, Ge Mingxin and Ge Yinjun can only raise it by selling the equity of Jiaxin Group. The two most important listed companies under Jiaxin Group are also the core assets of Jiaxin Group. Ge Mingxin and Ge Yinjun want to cash out at this time and want to sell it at a good price, it is really difficult to go to the sky.

Zhang Ke tapped his finger on his forehead and said to Zhai Danqing: "I believe there should be many people in Hong Kong who are coveted by the Charles Schwab Group. Next, it's time for them to perform."

"It should be..." Zhai Danqing smiled and thought to himself: Everyone pushed him down. The Ge family is about to decline completely. I thought that it was not appropriate to say this. Ge Mingde and Sun Shangyi should be considered a branch of the Ge family. Sun Shangyi's assets are also 30 to 40 billion.
Chapter completed!