The Rebirth of the Financial Hegemon

v3 Chapter 53: The baht has collapsed

In George King's heart, tens of thousands of hemp batches floated through every day.

Nick Lison is now carrying the title of a devil trader, and he is afraid that in the future, he will also have the title of the last one that brought down Standard Chartered.

This is definitely the greatest shame for George King, who came from a noble family.

However, there is no way to save it.

George King could only pick up the phone and inform the board of directors and various senior management one by one.

"Damn, George, tell me, how can you lose three and a half billion dollars, three and a half billion... If you set fire every day, it will take ten years..."

"God, how could this happen? It's only been a few months, how can you lose so much money? Li Sen has played more than a billion dollars for a year, and you have lost three and a half billion dollars in a few months..."

"George, I think your name will go down in financial history."

"…"

Standard Chartered Hong Kong Headquarters.

After George King made the call, the heads of Standard Chartered's global regions all rushed to Hong Kong.

Global CEO, Chief Executive Officer, Executive Director, Chairman of Standard Chartered Group and other senior management.

However, these reactions are strange.

Some people gloat at the misfortune, some people complain again and again, and some people ridicule again and again.

For others, I wish I could swallow George King alive.

The reason is quite simple.

A large part of the senior managers of Standard Chartered are part-time workers.

Just like the vice-chairman of José Vinales.

He was in the mood to watch a good show about the catastrophe that George King caused this time.

In a group company, factional battles are also common.

George King is British and is the CEO of Standard Chartered Asia.

With a good background, George King often ignores other people.

That kind of aristocratic style has long been disliked by some people.

Now that George King has made such a big basket, he will have an indelible stain on his back for the rest of his life.

This is naturally a good thing for Joss Vinales, who is not pleasing to the eyes of George Jin Ming.

As for the bankruptcy of Standard Chartered, it has nothing to do with him.

It's nothing more than losing a job.

With the experience of José Vinales, there is no need to worry about finding a job.

In the depression of George King, Joss Vinales was serious.

"George, take it easy, it's not your fault, it's just a name that will bring down Standard Chartered, this is a good opportunity for you to be famous all over the world..."

Joss Vinales can speak sarcastically, but George King can't refute it at all.

As the top person in charge of this decision, George King can only choose to bear the consequences.

"boom…."

With a heavy knock on the door, the closed door of the conference room was pushed open from the outside.

Then, a group of people filed in from outside.

Asian race.

After more than a dozen Asians came in, the previously noisy conference room immediately quieted down.

Standard Chartered Bank, also known as Standard Chartered Bank after the merger with Standard Bank of South Africa.

It is an established bank, established in 1853 under the charter of Queen Victoria.

In the eyes of many people, Standard Chartered is a British commercial bank.

It is registered in the United Kingdom, is also listed on the London Stock Exchange, and its senior management is mostly British.

Everything seems to be in line with the characteristics of British commercial banks.

But in fact, the real controller of Standard Chartered Bank is not British.

In 1986, Standard Chartered fell into an economic crisis due to operating problems, which caused the British Lloyds Bank to suppress the acquisition of Standard Chartered.

When Lloyds Bank was fully prepared to acquire Standard Chartered, three Cheng Yaojin suddenly came out.

The equity war of any group company is no less than a huge war behind it.

In the end, Qiu Depal, together with the Global International Finance Co., Ltd. of Bao Yugang, the Chinese world ship king, and the Australian businessman Robert Holm, stole Standard Chartered from Lloyds Bank.

The three joined forces to acquire a 37% stake in Standard Chartered.

Among them, Bao Yugang accounted for 14%, Qiu Depai accounted for 14%, and Robert Houm accounted for 9%.

Among the three, Bao Yugang and Qiu Deba were both Chinese businessmen.

In addition, in the total share capital of Standard Chartered, Singapore's state-owned capital Temasek Group also holds 8% of Standard Chartered's shares.

As for other scattered share capital, it is mainly concentrated in the hands of some funds.

The largest is Black Rock Capital.

Therefore, when the management of Standard Chartered saw a group of Chinese coming in, they immediately calmed down honestly.

As people from capitalist countries, these bankers know very well the awe and respect for their bosses.

After the main host arrives, it is natural to report the beginning and end of this crisis.

George Jinqiang cheered up, and after finishing the book, he said the whole story aside.

How to negotiate with Jushi Capital, how to sign an insurance contract with Jushi Capital, to the terms of the insurance contract and the risk assessment at that time.

Fair and careful.

There is no concealment or shirk responsibility.

It can be said that George King is a very competent person in charge.

Of course, in the current situation, there is no point in concealing and evading.

After listening to George King's report, the faces of several major shareholders or shareholder representatives present were all black.

Whether it is Global International Finance or Qiu De-allocated Malay Capital, or Singapore's Temasek.

Each of them is a giant that has been in the capital market for a long time.

Those who can come to this kind of occasion are naturally professionals from various companies.

In George King's complete return, he immediately realized how far Standard Chartered had reached.

A group of people, that is, they have the heart to kill George King.

However, they also knew that this matter had little to do with George King.

In terms of duty, George King did nothing wrong.

Risk assessment, administrative approval at all levels, to the final contract signing.

Every link is clear and clear.

Some of them have also made a resolution of approval.

This means that no one discovered the crisis lurking under this policy at the beginning.

Now that there is a problem, it is impossible to blame George King at all.

Such a large insurance policy has been carefully studied and analyzed by numerous departments.

If they scold, it is tantamount to scold them.

Li Cane Farmer.

Singaporean, this time the representative from Temasek.

After reading all the information, he pressed his anger and asked.

"What kind of ghost company is this Boulder Capital? Is there any conspiracy in it, otherwise how would you know that Thailand's real estate will collapse?"

This question, George. King also thought about countless times.

But the final answer is that I don't understand.

If there were any clues at the beginning, George King would not have easily signed that insurance contract.

No one could answer Li Zhanong's question.

Even if there is any conspiracy, under a contract with full legal benefits, everything must be determined by evidence.

But according to the terms of that contract, the only thing waiting for Standard Chartered is bankruptcy and liquidation.

At the board of directors, the major directors discussed for a long time without any results.

Standard Chartered's legal department, as well as professionals brought in by the three major shareholders, conducted multiple cross-reviews of the contract.

The goal is to hopefully find loopholes that can avoid huge compensation.

Normally, no matter how detailed a contract is, there may still be some subtle loopholes.

As long as one can find a trace, with the strength of the major families, this crisis can be resolved at the least cost.

But unfortunately, no matter how many times the people in the legal department audited, they did not find any loopholes to not fulfill the contract.

All the detailed terms and conditions are stuck in the possibility that Standard Chartered may breach the contract.

Asset value, payout ratio, subject matter scope, contract index.

Everything.

There is not even the slightest hole to drill.

It was as if the other party had known for a long time that Thailand’s house prices would plummet.

time, amount, and scope.

It is completely set in the direction that is most beneficial to the opponent.

This kind of contract without any loopholes makes everyone feel a hint of conspiracy.

But, no one can crack this conspiracy.

Standard Chartered's total assets are US$3.9 billion, and its core capital ranks 420th among the world's 1,000 largest banks.

Globally, it controls more than 50 billion US dollars, but in 1994, the pre-tax profit of Standard Chartered was as high as 350 million US dollars.

If it is possible, no one will give up a chicken that lays golden eggs like Standard Chartered~lightnovelpub.net~ However, in the face of that $200 million contract, even if the three major shareholders are united, there is a sense of incompetence sense.

Standard Chartered's total capital is US$2 billion.

But if you follow the payment terms of that policy, it means that Standard Chartered has lost US$3.5 billion.

If it is only 3.5 billion US dollars, several major shareholders may still take over this shortfall.

After all, the total assets of Standard Chartered are placed there.

As long as another billion US dollars is injected, Standard Chartered can be saved from bankruptcy.

With the annual income of Standard Chartered, this deficit may be recovered in a few years.

But the problem is that Thailand's real estate index is like a bottomless abyss like the stock market, and no one knows where it will fall.

Before the policy expires, and before Jushi Capital redeems the default swap, it is impossible to predict how much this policy will make Standard Chartered lose.

According to the payment terms on the insurance policy, for every 1% drop in the composite index of Thailand’s housing prices, one hundred times the insurance premium will be paid.

With the huge sell-off that Thailand's real estate industry is currently suffering from, will there be any possibility of a rise for a while.

Want to save by injecting funds.

Maybe there is a possibility of saving, maybe it is a bottomless pit at all.

Before the result is clear, no one dares to inject capital into Standard Chartered easily.

After a day of continuous discussions, the board did not discuss a final result.

The current Standard Chartered, it is not their shareholders who have the final say.

The one who truly controls the fate of Standard Chartered is the credit default swap, or to be precise, the person who bought the credit default swap.

But it didn't take long for all shareholders to give up the possibility of saving Standard Chartered.

The baht collapsed.

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