Spring Thunder Chapter 0296: Jianing's Destruction
After strolling around Kabukicho until around nine o'clock, Nan Yi left and went to the izakaya of Sayuri Hagiwara in Shibuya.
I don’t know why, but Nan Yi felt it was very easy to chat with Sayuri Hagiwara, so he was very willing to go to Sayuri’s izakaya.
After opening the sliding door and entering the izakaya with his head lowered, Nan Yi noticed that the atmosphere here was a bit strange. A middle-aged man in his fifties was staring at a young man in his thirties. Both of them had a fierce look in their eyes. It looked like two top masters were dueling and both sides were looking for each other's flaws.
These two people are probably very famous in a certain field. Nan Yi saw that the other customers in the store gathered together to discuss in a low voice, and their eyes were fixed on the two people looking at each other, with a little admiration in their eyes.
Nan Yi walked to the bar and waved to Sayuri Hagiwara.
Sayuri Hagiwara walked to Nan Yi, leaned forward, and put her ear close to Nan Yi's mouth.
"Who are these two? Actors or singers?"
"Neither. The older one is Kojima Takeo, the president of the Japanese Professional Mahjong Association. The younger one is Sakurai Shoichi, a very capable professional mahjong player."
"Professional Mahjong?" Nan Yi was confused for a moment, then asked, "Is there a professional Mahjong tournament?"
"Yes, Nagao-kun doesn't know?"
"I hate anything related to gambling and won't care about it. Are professional competitions the same as competitive competitions? Do you also participate in the competition to get prize money?"
"It seems that there is not much prize money in the competition, and those mahjong masters make a living by playing for others."
"Playing games for rich people?"
"No, they fight for the Sumiyoshi-kai clubs. It seems that when there are disputes between different clubs, they will hold a mahjong game and resolve the disputes by winning or losing the mahjong game."
"oh."
Nan Yi responded, expressing his disbelief at what Hagiwara Sayuri said. He thought that playing mahjong to resolve disputes and divide profits would not be as reliable as playing rock-paper-scissors.
He guessed that there might be mahjong competitions between the societies, and then some external betting to make money, which was essentially gambling, except that the props were a little special.
Instantly, Nan Yi lost interest. Damn, these two gamblers are pretending to be masters here.
"Master, bah, if you win, I'll chop off your left hand, if you lose, I'll chop off your right hand, if it's a tie, I'll chop off both hands, I want to see how good you are..." Nan Yi complained in his heart, and said to Hagiwara Sayuri: "Give me a bottle of ginger beer, with ice cubes."
"Okay, wait a moment, Nagao-kun."
Nan Yi was waiting for Sayuri Hagiwara to serve the wine when the school beauty suddenly leaned close to his ear and said, "President, I saw Zhong Zhengwen outside."
"Zhong Zhengwen?"
Nan Yi recalled that on September 26 last year, Carrian announced its interim results, with a profit of HK$270 million, an increase of 2.75% over the previous year, and announced an interim dividend of 0.12 cents per share.
However, on October 26, Carrian suddenly and rarely announced the cancellation of the interim dividend and replaced it with a ten-for-one bonus share, while also issuing 500 million preference shares to raise HK$500 million.
This move actually exposed the plight of Jianing, and the stock price immediately plummeted, losing 30% in one day, from HK$1.52 per share to HK$1.02. Affected by this, the Hong Kong stock market also plummeted by 9.48%, and the 800-point mark, which was regarded as a "solid defense line", was easily broken, and the total value of the stock market lost HK$13.2 billion.
Later, Zhong Zhengwen's Yida Investment announced liquidation in November, and Zhong Zhengwen fled Hong Kong in a hurry, leaving behind HK$2.1 billion in debts and other loan guarantees of HK$1.6 billion. His son went to Stanley to study in accordance with Hong Kong's debt laws.
After Yida Investment was liquidated, the truth about Jianing was completely exposed: as early as October last year, Chen Songqing knew that Yida had borrowed a bank loan of up to HK$1 billion. Calculated proportionally, Jianing's debt was at least this amount. Yida was like Jianing's shadow.
Therefore, the SFC rejected Jianing's plan to raise funds through a rights issue and launched an investigation into Jianing's finances.
On January 2 this year, the Jianing Group announced that its three listed companies, Jianing Real Estate, Vinda Shipping and Chang Life Insurance, would be suspended from trading, restructure debts, and cancel the plan to issue 500 million Hong Kong dollars of preference shares;
The proposal was changed to that the parent company, Carrian Group, inject HK$250 million in capital and that HSBC provide Carrian with a secured demand overdraft of HK$250 million under certain conditions.
On February 6, Carrian announced that it had appointed Hengbao Finance and Waldo Financial as its representatives to discuss the restructuring plan with creditors including more than 70 banks and financial companies.
Carrian even hired John Bo, former vice chairman of HSBC, from Eagle Country as a creditor bank representative at a monthly salary of HK$100,000 and he joined the Carrian board of directors.
Jianing's debt restructuring was formulated on the principle of debt-for-equity and the debt was reduced by selling its subsidiaries.
The possibility of success of this plan was slim in the first place, and during this period, a murder case suddenly occurred, completely shattering Jianing's hope of reorganization.
On July 18, Ibarahi, assistant manager of Yumin Financial Company, was strangled to death in a room of the Regent Hotel and was smuggled to a banana grove in the New Territories and abandoned.
The murderer left obvious clues, and the police quickly arrested a man named Mai.
The man later admitted that he was only responsible for abandoning the body, and pointed out that the murderer was someone else who was instructed by Chen Songqing to commit the crime.
Ibarrahi's death led to a police search of Yu-Min's finances, during which it was discovered that Carrian's subsidiaries owed Yu-Min a huge amount of debt, amounting to US$540 million, which did not match Carrian's accounts.
At this point, the truth about the source of Carrian’s huge funds was revealed. It did not come from wealthy overseas Chinese in Southeast Asia, nor was it supported by Mrs. Marcos of the Philippines, nor was it backed by the People’s Bank of Moscow, but rather it came from a Malaysian financial company.
U-Ming Financial is a wholly owned subsidiary of U-Ming Bank Malaysia Bhd, a major bank with international operations.
As the Hong Kong government had frozen the issuance of banking licenses, U-Ming Bank established a deposit-taking company in Hong Kong as a subsidiary, named U-Ming Finance Malaysia Berhad.
In 1979, Yu-Min Finance had established a cooperative relationship with Jianing, and it was with the full support of Yu-Min Finance that Jianing launched its large-scale expansion activities.
At this point, the myth has been debunked.
The Carrian Group owed more than HK$10 billion to financial institutions such as U-Ming Finance, HSBC, and Wardley. Chan Chung-ching and U-Ming Finance attempted to conceal Carrian's total debt, especially the over HK$4 billion owed to U-Ming Finance, in order to enable the restructuring to proceed.
A few days ago, the Hong Kong police launched a search operation on the Jianing Group and obtained more than one million documents. Chen Songqing has not been arrested yet, but according to the information Nan Yi received, he should be arrested soon.
Chen Songqing is now in a state of panic and probably doesn't even think of taking revenge on Nan Yi.
"Alone?"
"Yes, it's a person. He looks like he's out looking for something to eat. He's sitting next to me now."
"Well, let someone follow."
"clear."
