My Age of Investment

   Chapter 1166 Can't get used to it

   Under the gaze of Xia Jingxing's playful eyes, Yi Gang stopped being a riddleman and began to ask solemnly, "It is said that Vision Capital intends to acquire Lehman Asia, is this true?"

   "That's right! The acquisition is nearing the end, and the official announcement will be signed soon."

   got an affirmative answer, Yi Gang rubbed his hands together, and smiled awkwardly: "Then Xia Sheng... Look... Can you all take over the bonds issued on Hong Kong Island?"

Xia Jingxing knew exactly what Ren Gang was thinking, and after hearing these words, there was no emotion on his face, and he replied indifferently: "According to the acquisition agreement between us and Lehman, we will not take over any For sub-prime derivatives assets, they will be required to divest before the acquisition.

   In other words, we only need a clean shell!

  The water inside Lehman is so muddy that even the Federal Reserve dares not go there. How can we, Vision Capital, dare to pick up this hot potato? "

   Speaking of this, Xia Jingxing raised his head and looked at Yi Gang with a serious and dignified expression, "Mr. Ren, it's not that we don't help you, but our ability is indeed limited, we can't help, sorry!"

   Xia Jingxing's rejection was not unexpected at all.

   In fact, Yi Gang himself knew that his request was a bit difficult for a strong man.

   But he is not asking Vision Capital to directly take over the mini-bonds, because that would be almost impossible to get consent.

   He gently persuaded: "Xia Sheng, you take over Lehman Asia... I heard that you will also take over the assets of AIG Asia.

   After you take over the Asian divisions of these two major companies, they will definitely still conduct business in the Asian region, right?

  Hong Kong Island, as the financial center of Asia, has always been the Asian headquarters of Lehman and AIG.

   These two financial giants are centered on Hong Kong Island, and their business and influence radiate to the entire Asian region.

The importance of    Hong Kong Island market is self-evident.

   If Envision Capital can take over this mini-bond of more than 10 billion Hong Kong dollars, it can undoubtedly establish a good public image and reputation in the Hong Kong Island market.

   This is much better than taking over two shell subsidiaries, and it can also lay a good foundation for the next resource and business integration and order restoration. "

  Xia Jingxing smiled and said: "More than 12 billion Hong Kong dollars, this advertising fee is not cheap, it is more expensive than our acquisition of Lehman Asia."

  Zheng Yi smiled shyly, and said, "It's not cheap!

   But the value of these mini-bonds has not all gone to zero, there is still a lot of residual value.

  We have specially investigated that 10% of the asset portfolio in these mini-bonds is linked to Lehman bonds, and the value of this part is now basically equal to zero;

   There is also 10% linked to the mortgage assets, and the loss is about half;

  Another 80% is linked to non-mortgage assets, and the current actual value is about 60%-70% of book value.

   In this way, the actual value of the bond can still reach about 60% of the face value of the bond.

   That is to say, the actual loss of HK$12.57 billion mini-bond is about HK$5 billion. "

  Xia Jingxing kept a polite smile on his face, and began to complain in his heart: he is not from opening a shantang, although 5 billion Hong Kong dollars is not much, but it has nothing to do with him, so why bother.

  The baskets poked by banks and securities companies, wipe your **** yourself.

   As for advertising, Xia Jingxing did not think it was a good advertising method.

   If you perform on the street, will the financial company pay for it?

   Investors of various Ponzi wealth management platforms in the mainland are not treated so well, and the losses are all borne by themselves.

   He particularly dislikes street art performances by Hong Kong Islanders.

   As soon as something happens, he starts to deal with all kinds of nonsense. This is something he is used to.

  American investors are still performing art performances on the streets of Wall Street these days, and their acting skills are even more explosive, but who has paid any attention?

  Emotionally speaking, he quite understands these ignorant and blind investors, but he never supports their methods of coercing the government at every turn.

  Xiyi just saw that Xia Jingxing never answered, and hurriedly said: "Xia Sheng, I'll give you the bottom line, the HKMA's disposal method is to ask the banks to repurchase these mini-bonds at the market price.

   is to repurchase the mini-bonds at 60% of the face value of the bonds, so that investors can get back their six-cost money early, and at the same time avoid the subsequent cumbersome liquidation procedures.

   However, since investors themselves need to bear 40% of the losses, there may be many people who are dissatisfied with this resolution.

  My idea is that after the banks repurchase these bonds, they will then transfer them to you for aftermath. After all, you are more professional.

   If there is still a surplus in the subsequent bond realization, it is up to you to return the surplus to the investor..."

  Xia Jingxing finally understood. It turned out that he wanted to run his own errands, and at the same time, on the basis of the bank's refund of six principals, he would make some profits for investors, so that the principal refund rate could be increased a lot, maybe 65%? Seventy percent?

   But does it work? Can it appease investors? Xia Jingxing was not optimistic about this.

   He smiled lightly: "Unless the principal is returned in full, there will always be people who will be dissatisfied.

   Even more extreme, it will require payment of investment income from bonds.

  Mr. Ren, I will also give you a sentence, it is called "a loving mother has more deceased children", don't be too used to it!

   Believe it or not, when your disposal plan is announced, someone will still hold banners and signs for you. "

  Xiyi just kept silent when Xia Jingxing said that his heart was gone.

   He was afraid that this solution would not convince the public and calm the situation, so he thought of finding Xia Jingxing to put out the fire.

   can recover a little loss for investors!

"Xia Sheng, do you think this will work? These mini-bonds will still be repurchased by banks and securities companies, and they will be able to realize about 8.5 billion Hong Kong dollars, and then hand over these funds to you to run a public fund, and wait a few years. , investors' losses should be fully covered."

  Xia Jingxing laughed out loud, "Mr. Ren, you really trust us enough, what if the fund loses money? Then investors are not allowed to trouble us?

   Also, to issue and raise a brand-new public fund, it also requires the consent of 30,000 investors, and cannot make decisions on behalf of others. "

  Zheng Yi just sighed, this is not good, that is not good, it seems that this knife is destined to escape.

  If nothing else, he will retire from the position of chief executive of the HKMA next year, bringing an honorable end to his nearly 40-year civil service career.

  No one wants to leave with an ignominious sum at the juncture of retirement.

  Especially for him who led the victory in the financial defense war on Hong Kong Island, his fame and reputation may well be ruined in one fell swoop.

Seeing the miserable expression on Ren Gang's face, Xia Jingxing helped him with a trick: "Mr. Ren, you have to tie the bell to untie the bell. The fault of this matter is ultimately Lehman Brothers and about 20 banks and securities distributors. .

   Now that Lehman has gone bankrupt, we will no longer use Lehman’s name after we take over, but will re-form a large financial group with a new face.

  The new company has a new look, and we are not rude to the customer resources that Lehman has accumulated in the past.

   Even if we want to attract customers, we impress investors with excellent performance and service level, rather than "full principal and interest guarantee".

  This, I hope you understand. "

   Yi Gang nodded quickly, he still understood Xia Jingxing's decision very well, this time the basket was really too big to be filled.

  Xia Jingxing continued: "If you want to really quell public grievances, you can only ask banks and securities companies to repurchase the bonds at the face value!"

  Zheng Yi just shook his head, "I have tried it, but the attitudes of these companies are very tough, and it is not easy for us to use administrative means to force them.

   In the final analysis, the HKMA did not do a good job in detecting risks and suspending the sale of mini-bonds in a timely manner, which led to the current situation. "

  Xia Jingxing nodded slightly, and to the point, all parties are responsible for this matter. There is a lack of supervision, banks are numb, investors are greedy for high interest rates, and they do not have the corresponding financial knowledge.

   As long as there is no problem with any of the above three, it will not lead to the current situation.

  The bank is also willing to repurchase bonds in advance, so that investors can get back the six cost in advance, which is almost enough.

   If investors continue to be unreasonable, it is time to review themselves.

   (end of this chapter)