v3 Chapter 1375： OOCL asks for help (2

The deployment of the "Plaza Agreement" is being implemented in an orderly manner, and the burden on Xia Yu's shoulders is much lighter.

In normal days, besides keeping in good health and creating villains, he has become more relaxed at work.

But on August 28, Dong Chenghui, the current owner of the Dong family, came to visit him.

Dong Chenghui is one of the founders of the Southeast Asia Consortium. Of course, he is only a director of the Southeast Asia International Holding Company due to strength problems.

"Chairman, I'm here to harass!"

"Welcome, welcome, you can come and chat with me, I am glad that the sea is too late!"

"Why are you still bringing gifts, what are you doing so politely?"

"It's nothing, just some fruits that I grow in the backyard, and I can buy them for hundreds of dollars outside."

"Haha, the most important thing is your mind. The fruits you grow by yourself are hard to buy outside!"

"Come in!"

Xia Yu exchanged warm greetings with Dong Chenghui, took the fruits he had brought, and led him into the living room.

After being seated one after another, the servants immediately made tea while Xia Yu opened the fruits brought by Dong Chenghui, which contained some longan, late-ripening lychees and mangoes.

He took off a longan, peeled it and threw it in his mouth. After chewing a few times, he nodded and sighed: "Yes, the juice is full, sweet and delicious, delicious."

Although he knew that Xia Yu was touted, Dong Chenghui still had a bright smile on his face. He jokingly said: "It seems that I have to sell the rest. ', the price is 10,000 Hong Kong dollars a catty, I don't know how much it can sell."

Xia Yu laughed dumbly and said jokingly: "Why don't we work together and put it in the auction house to speculate, and the profit will be divided into fifty-five?"

Dong Chenghui immediately clapped his hands and said, "Wouldn't the price be so high that every tree has to be sold for a million!"

"Hahaha..."

The two laughed one after another.

At this moment, the servant made the tea, and Xia Yu made a gesture of invitation: "Mr. Dong, please have tea. This tea is my treasure, and you are here today, otherwise I wouldn't be willing to take it out. "

"Oh? Then I have to taste it!"

Having said that, Dong Chenghui took a deep breath, then took another sip, and exclaimed, "The fragrance is like orchids and the taste is like sweet rain, good tea! Good tea!"

Then, he couldn't help taking a few more mouthfuls.

Xia Yu smiled and drank leisurely as he picked up his teacup.

Drinking tea alone is comfortable, and two people drink tea in a mood.

No matter how Dong Chenghui conceals it, Xia Yu can also see the sadness between his brows.

bother you for something.

Although the two are allies and friends, if nothing happens, Dong Chenghui will not visit them specially.

If you guessed it right, it should be OOCL.

Xia Yu put down the tea cup and asked, "Mr. Dong, I think you look worried, what's the matter, are you encountering difficulties?"

Dong Chenghui also put down his teacup, and finally stopped pretending. He looked worried and sighed for a long time. He said to Xia Yu: "Chairman, you are right. My Dong family is indeed in crisis. I'm here to ask you for help."

"Don't worry, speak slowly, I will definitely help with this!" Xia Yu said solemnly.

Dong Chenghui looked grateful, and his tight heartstrings relaxed slightly.

He slowly said: "Chairman, since I took over the family, my pressure has never been relieved in the past few years. I have also been struggling to use the profits of other companies in the family to support the development of the shipping company. I have been looking forward to the world. The downturn in the shipping industry can pass."

"But after three years, the overall environment has not improved, and it has continued to deteriorate. This time, I really can't hold it anymore."

"Orient Overseas Shipping Co.’s total debt is as high as 2.85 billion U.S. dollars, and there are 740 million U.S. dollars in debt due within one month. In addition, by the end of this year, there are 890 million U.S. dollars in debt due and another 270 million. The new tail payment in US dollars will be paid by December, and the rest will be due next year."

"But even with the business provided by the consortium, the freight rate is too low and the ship depreciates so quickly that it is in a state of loss every month."

"I... hey..."

At the end, Dong Chenghui lowered his head, his face full of powerlessness.

Since he was forced to take over as the head of the family in 1982, he has realized that it is not easy to be the head of the family. He has been tearing down the east wall to make up the west wall. However, the world shipping market is going down all the way. He continued to go down again, so that he was sinking deeper and deeper.

Before the turnover was still possible, there was no news from the outside world. After joining the Southeast Asian consortium, due to the blessing of resources within the consortium, the business situation has improved, but there is also a limit. As the large debt is about to expire, his life will be It's not easy.

As for Dong Chenghui, Xia Yu understands him. He can be said to be a man of tenacity, but he has been tortured into this way under pressure, which shows how much suffering Dong Chenghui is in his heart.

"Mr. Dong, in terms of debt, which bank did you borrow from?"

Xia Yu thought for a while, and asked the most critical question.

Dong Chenghui immediately said: "If it is a bank in Xiangjiang or Southeast Asia, it is possible to turn around."

"But my loans are mainly from banks in island countries, including Fuji Bank, Mitsubishi Bank, Mitsui Bank, Sun Kobe Bank, etc., because before, I placed orders with shipbuilding companies in island countries, and borrowed loans from island countries’ shipbuilding companies. Interest rates are also lower, less than a quarter of that of Heung Kong Banking."

“Last year, the world’s largest and the largest shipping company in the island country, Sanguang Steamship, had a debt of more than 4 billion U.S. dollars and suffered losses for consecutive years. As a result, it went bankrupt. Therefore, the island country’s banking industry has seen the status quo of the shipping industry clearly and tightened the burden on shipping companies and shipbuilding companies. loan."

"Once my loan expires, the island country's bank will never re-lending to me. On the Hong Kong side, I asked many local and foreign banks, and they were very vague about new loans."

According to his situation, it is really difficult to handle.

If it is the old debts of Hong Kong's local banks, they can still use contacts to convert the debts if they are not paid out. The banks will not be too eager to avoid bankruptcy and bankruptcy of the company.

However, it is difficult to say if it is replaced by an island country bank. Their trust in Dong Chenghui is not as high as that of Xiangjiang's bank, and they will not necessarily give them face. The most likely reason is to stop losses in time, and even if they can recover some assets.

"Mr. Dong, according to the current situation, if Orient Overseas Shipping Co. applies for bankruptcy, all debts can be wiped out. I can also help you make a comeback. This is the best way for you."

Xia Yu thought for a while and put forward what he thought was the best opinion for Dong Chenghui.

Dong Chenghui smiled bitterly and said: "Chairman, I have considered this method. It is indeed the best method, but I can't get through this hurdle in my heart."

"Orient Overseas Shipping Co. has thousands of employees, many of whom have worked together with my father at that time. There are thousands of families behind this."

"My company has too many bank debts. Once it files for bankruptcy, it will give priority to repaying bank debts. In recent years, the value of ships has shrunk severely, and the company's stock price has shrunk severely, and its assets are not enough to repay bank debts."

"So at that time, other debts, employees' wages and pensions, placement fees, etc. will not be mentioned."

"There are still a large number of shareholders who will lose their money."

"I can deal with the banks of the island country, but I can't bear them for their innocent compatriots..."

After listening to Dong Chenghui's words, Xia Yu showed a smile on his face, feeling greatly in his heart.

At this time, I still stick to the bottom line in my heart. This sense of responsibility is commendable.

That being the case, he had to help Dong Chenghui even more.

"Boom...boom...boom..."

Xia Yu tapped his fingers on the tabletop, contemplating his eyebrows.

Dong Chenghui also raised a heart, clenching his fists subconsciously.

a long time…

Xia Yu looked at Dong Chenghui and said, "Mr. Dong, I have an idea."

"Chairman, please speak!" Dong Chenghui leaned forward and said hurriedly.

Xia Yu said slowly: “As for the debt of the island country bank and the balance of the ship due, it is as high as 1.9 billion US dollars. This debt is too much. On the debt side, I will help Orient Overseas Shipping Company. The debt of US$740 million in one month is definitely not a problem."

"And the current global shipping market, to be honest, my think tank's analysis here is still not in the end. At least the freight rate will fall for another year. According to the current freight rate, it will have to fall by more than four tiers. Prices will also shrink further."

"So I propose to clean up a part of the fleet now and return the funds to repay the bank loan."

"Then only a part of the fleet is left, and the remaining part of the fleet is transferred at a low price and then leased back, so as to greatly reduce the company's debt."

"Wait until the shipping market bottoms out next year, then buy the fleet according to the actual situation and set sail again."

"In addition, I think you must have taken the equity of Orient Overseas Shipping Co., Ltd. to mortgage the loan. The stock price must be very low now. I suggest you apply for delisting to facilitate the company's strategic adjustment."

Dong Chenghui was both moved and shocked, moved by Xia Yu's willingness to lend a helping hand, and shocked by Xia Yu's judgment that the shipping market still has so much room for decline.

If it falls like this again, if OOCL maintains its status and survives this crisis, it will be difficult for it to survive next year. After all, there will be more than one billion US dollars in debt due next year.

Thinking of this, Dong Chenghui couldn't help sweating.

No, really follow Xia Yu's suggestion, and focus on stability.

Over the past few years, the expectations have been disappointed again and again. He is completely uncertain about the trend of the global shipping market, and he prefers to trust Xia Yu's analysis.

"Chairman, then I will listen to your opinion, and I will clean up the ship when I go back."

"You still need to extend a helping hand later. If you feel that the shipping market will end next year, please give me some advice."

After speaking, Dong Chenghui stood up, and before Xia Yu stopped him, he bowed deeply to Xia Yu, with a very sincere attitude.

Xia Yu shook his head helplessly and said with a smile: "That's for sure, we are allies after all, how could I not help?"

"Thank you Chairman!"

"By the way, Chairman, now there are some shareholders in our company who want to withdraw. Are you interested in taking over some equity? The transfer price should be very low."

After Dong Chenghui thanked him again, he suddenly thought of something and immediately said to Xia Yu.

Now Orient Overseas Shipping Company has reached a low point, but it has already had the opportunity to reverse the trend. Inviting Xia Yu to come in can be regarded as a feedback to Xia Yu.

In the same way, the relationship with Xia Yu can be deepened. Wouldn't it be better to add a layer of partner relationship to the relationship between allies?

Furthermore, there is another huge benefit of inviting Xia Yu to come in, that is, it can stabilize the hearts of the company's employees and shareholders, and play a role as a needle in the sea.

As for whether it would threaten Dong's rule over the company, he didn't think about it. After all, if Xia Yu didn't lend a hand, it would be hard to say whether Orient Overseas Shipping could keep it.

"Well, you can help me ask about this. I can take as many people as I want to transfer." Xia Yu said with a smile, accepting Dong Chenghui's wishes.

"Okay, then I will deal with it as soon as I go back." Dong Chenghui said hurriedly

"Well, about the bank, there will be a clear result the day after tomorrow at the latest, so don't worry." Xia Yu once again gave Dong Chenghui a reassurance.

"Thank you Chairman!"

When the mountain in his heart was removed, Dong Chenghui was completely relieved.

After drinking a few more cups of tea, chatting with Xia Yu for a while, he said goodbye.

…

After returning, Dong Chenghui immediately convened a high-level meeting to set a strategy for clearing the fleet, and at the same time applied to the exchange for delisting.

In the evening, many shareholders learned the news, knowing that Orient Overseas Shipping Company had really reached the most critical moment.

Dong Chenghui did not deliberately exaggerate the situation. He just let others choose. If he wanted to withdraw, he would take over all the equity in one effort and bet the company would be able to rise again.

Early the next morning, bad news that Orient Overseas Shipping Company was about to clean up its fleet spread throughout the exchange.

After the opening of the stock market, the share price of Orient Overseas Shipping Co. plummeted.

Half an hour later, Orient Overseas Shipping Co. applied to the exchange for delisting, and at the same time issued an announcement that the company was willing to reclaim shareholders’ equity and announced the reclaimed price, but the price was relatively low.

The Xiangjiang Stock Exchange approved it immediately. UU Reading

The entire capital market shook, and the stock prices of companies such as Guanghua Shipping and IMC Shipping, which were also in the vortex, plummeted further.

On the third day, Jiuding Bank and HSBC Bank provided OOCL with US$500 million in standby credit.

Until September 5, Orient Overseas Shipping Company’s US$740 million debt was transferred from the Island Bank to Jiuding Bank and HSBC.

At the same time, Xia Yu’s Jiuding Industrial Group acquired a 38.8% stake in Orient Overseas Shipping Company at a cost of only 1.07 billion Hong Kong dollars.

Not only that, the Southeast Asian Development Bank, the financial core of the Southeast Asian consortium, injected US$100 million into Orient Overseas Shipping Company and obtained a 22.1% stake.

In addition, a meeting was held within the Southeast Asian consortium, and each member decided to transfer the shipping business to the Orient Overseas Shipping Company as much as possible to support it to tide over the difficulties.

The Orient Overseas Shipping Company has also begun the process of cleaning up its fleet and returning funds.

PS: Today, the two chapters are unified, good night everyone