MC Bookstore Chapter 96 Persuading the Dog to Abandon its Nest and Change Course
Chapter 96 Persuading the Dog to Abandon its Nest and Change Course
"I'll sell it to you for five hundred million Hong Kong dollars."
"Uncle Fen is joking!"
"Didn't you start the joke?"
“…………”
Even if the stock market crashes and trading volume drops to HK$300 million or even lower, the social resources and influence controlled by the exchange are still incomparable to money.
Even if forced to merge, even if it only holds less than 5% of the shares in the United Stock Exchange, it will still be a treasure trove of economic resources, truly inheriting the foundation of the family's prosperity.
"I believe some things cannot be measured entirely in monetary terms!"
After a long silence, Chen Guanjiang continued, "But resolving the immediate problem is the most important thing; let's not create any more trouble, shall we?"
In order to seize market share, the Kowloon Club promotes the listing of companies that have been registered for less than three years, and even companies that only have a building or a nightclub can be listed.
In order to win over Japanese and Singaporean companies, the Gold and Silver Exchange even allowed transactions in Japanese yen and Singapore dollars, opening the door for Southeast Asian capital to plunder Hong Kong's wealth.
The Far East Club doesn't have that many problems, but given Li Fuzhao's remarks in the media, if he isn't dealt with, how can Murray MacLehose maintain his prestige as Governor of Hong Kong?
Each and every one of them is a hassle.
Only by resolving these troubles can he acquire less than 5% of the shares in the Stock Exchange. However, once he gets entangled in the "antenna case," Chen Pufen will be taken away for investigation.
Even without thinking, Chen Pu knew that while he was being taken away for investigation, the other three exchanges would definitely take advantage of his misfortune, not to mention Chen Guanjiang, that vicious dog who was furious at not getting his share.
If the stock market crashes and the organization is leaderless, even if someone manages to escape, the Kowloon Society will probably be pretty much dead by the time they get out.
Chen Pufen sighed deeply and said, "Three hundred million Hong Kong dollars, no less."
"Stop joking, it's at most HK$100 million."
Chen Guanjiang then changed the subject, saying meaningfully, "Besides, after Uncle Fen cleans up and leaves, he might even be given an important position."
Although the Kowloon Club rents a place in the Man Bong Building in Central, it doesn't own any property and is like a lost soul.
A brokerage license, though, can be profitable.
The initial license fee that was actually received was only HK$5 per license, and even if a thousand licenses were sold, the total revenue would only be HK$5000 million, and it's uncertain how much would be left now.
Although the Kowloon Club's brokerage licenses later increased to HK$300,000 each, the total price should have been HK$300 million, but the HK$250,000 premium would not be recorded in the company's books.
Apart from that, the Kowloon Club had almost no fixed assets. The teletype machine, internal telephone system, market information display board, and even the tables and chairs all together couldn't amount to HK$50.
As for the over 100 million in exchange settlement fees this year?
The core function of modern accountants has shifted from being mere bookkeepers to independent auditors, addressing corporate fraud and financial risks, functions that should rightfully be performed by securities exchanges.
They allowed Chen Pufen, a licensed accountant, to obtain a stock exchange license? And they even entrusted his affiliated Oriental Finance Company to oversee their finance and legal affairs? How much of that is left?
Even without looking at the books, one should know that the Kowloon Club has long been emptied out; only that exchange license, which is no longer being approved, is valuable.
"What do you mean by 'reusing' someone?" Chen Pu asked, puzzled.
Chan Kwun-kong continued, "The Hong Kong government will definitely reorganize the Securities and Futures Commission and re-impose strict supervision on exchanges, brokerage firms, and stock trading."
"That will be Uncle Fen's chance to shine! But Uncle Fen's position seems a bit awkward. The Hong Kong government won't let you be both the referee and the player, will it?"
The current chaos in the stock market is directly related to the inaction of the China Securities Regulatory Commission (CSRC), but this is because the CSRC has long been humiliated by the Hong Kong business community.
If the China Securities Regulatory Commission (CSRC) is to restore its regulatory powers, it must do so. However, at this time, the CSRC lacks both talent reserves and specific plans, and it is necessary to recruit a large number of relevant personnel.
Accountants are the best fit for the Securities and Futures Commission (SFC) to effectively regulate exchanges and economic institutions.
However, there are very few accountants in Hong Kong to begin with, and licensed accountants are even rarer.
Coincidentally, Chan Pu-fan is one of the top accountants in Hong Kong, and the title of Justice of the Peace gives him sufficient qualifications.
But Chen Pufen's identity is too special!
The Hong Kong government and other exchanges will absolutely not allow this guy to serve as the chairman of an exchange while drafting legislation to restrict exchanges.
If this guy opens a back door for himself, he can fit them all in.
Faced with the choice between business and politics, and between the stock exchange and the China Securities Regulatory Commission, Chen Pufen could only choose one.
Now, under pressure from Chan Kwun-kong, Chan Po-fan has no choice but to relinquish the Kowloon Club, thus creating enmity between the two sides.
In this situation, he would inevitably be given important responsibilities, with a focus on drafting regulatory legislation. He might even be put in charge of merging stock exchanges, and it seems acceptable for him to exchange his Kowloon Club membership for his future career.
Finance is always the most crucial department.
Joining the China Securities Regulatory Commission and cultivating a good relationship with Xia Dingji could provide Chen Pufen with a shortcut to his political career.
"Hmph!"
Chen Pufen was secretly delighted, but said coldly, "I'll sell Kowloon Club to you, and you'll use Antenna Stock to blow me up? You're really scheming."
Chen Guanjiang immediately held up three fingers and said, "The deal is done. Chen Dacai will hand over the evidence as well! I swear on my life, holding a flashlight, that I won't lie to you for long. Chen's son won't lie to Uncle Chen."
Short overnight stay? Insufficient power?
Chen Pu seriously suspected that this guy was implying something about him, but he had no evidence.
“…………”
Chen Pufen looked deeply at Chen Guanjiang, then sighed and said, "If only you were really my nephew!"
"I am your nephew! Uncle Fen... no!"
Chen Guanjiang said excitedly, "I was just kicked out of the family genealogy by my family. If you don't abandon me and adopt me, I am willing to live under your care."
“…………”
Chen Pu was speechless for a moment and didn't want to talk anymore.
Just because I glanced at him in the crowd, this mad dog noticed me and has been plotting for so long. If I take him home, my whole family will be bitten to death.
"Hmph!"
Chen Pu snorted twice, not wanting to pay him any attention.
In this light, selling Kowloon Club might not be such a bad thing. Once the stock market recovers and the stock exchange completes its merger, the days of exorbitant profits will never return.
Now, inflation is on the rise and interest rates are rising sharply, with the three-month short-term interest rate at 5.5%, the six-month interest rate at 6.5%, and the one-year interest rate at 7.75%.
Chen Pufen even dared to predict that when the stock market crashes and companies face financing difficulties, short-term loan interest rates will soar to over 15%.
They cashed out nearly HK$100 million by listing Anning Enterprise, Oriental Finance, and Xiangjiang Antenna.
They extracted another HK$100 million from the exchange's settlement fees, in addition to the proceeds from the sale of the exchange license.
In a single year, Chen Pufen earned more than HK$300 million through this exchange license.
With these funds, the Chen family rose to prominence and smoothly entered the financial system, which can't be seen as a bad thing.
Once I'm finally able to join the Securities and Futures Commission, I will definitely focus on enacting the Securities Ordinance and crush this mad dog to avenge today's coercion!