“Social contradictions are economically unstable" Shi Liqian urgently called the meeting to smash the cable.
The Hong Kong government strongly pushed the bill, and the first drop of blood appeared in the property market. Gao Yin Financial (530), the chairman of Regal Pan Sutong, won the commercial land king of Kai Tak 4C District for $11.1 billion last month. However, the independent non-executive director of the company, Shi Liqian, said that he supported the revision of the Fugitive Offenders Regulation. The emergency meeting refers to the negative impact on commercial real estate in response to social conflicts and economic instability. It is proposed to suspend the transaction, such as Yulin Zhengba. The board of directors finally passed the major ratio, and the company lost at least 25 million yuan in deposit. The analysis is expected to affect the future real estate market.
Reporter: Chen Dongyang
Gao Yin issued a notice yesterday that Shi Liqian moved at the meeting to request Gao Yin to suspend the payment of the land price of Kai Tak Di Wang. Among the eight directors, including Shi Liqian, the six board members agreed to eventually purchase the land.
The management held a telephone conference to explain the situation last night. Shi Liqian stressed that the development of Kai Tak’s business and hotels is immature, and the macro economy has undergone a sharp change in recent days. “The board of directors has reached the society (the revision of the fugitives regulations) has contradictions," It is unpredictable that the Sino-US trade war is unpredictable. In addition, the company invested 50 billion yuan in the real estate market in the past five years. Therefore, the board of directors suspended the Kai Tak land transaction from the perspective of risk management.
Pan Sutong “strongly believes" that recent social events will not affect the commercial real estate market and oppose the motion. In a conference call, he said that he had considered buying land in Gao Yin Finance in private, but the listing rules did not allow it. Therefore, if the government re-tenders the project in the future, he will bid in private and the bid price will be in response to market conditions. set. When asked if the land will be auctioned again at a low price in the future, the government has the right to recover the difference. Pan Sutong said: “You are too weak, and I am taking advantage of the treasure. The 11.1 billion should be a good price. The next time I want to get back 15 billion."
2,500,000 deposits were confiscated by the Hong Kong Government
The Gaoyin Notice pointed out that if the company abandons its investment, the deposit of 25 million yuan will be confiscated by the Hong Kong Government, and the losses and expenses involved in the future resale of the Hong Kong Government should be paid by Gao Yin.
Some market participants questioned that Gao Yin had difficulties in financing to suspend trading. Pan Sutong was annoyed. “It’s a joke to get rich, and I’m a big joke. There are projects in every place in the world, every period. There are people who help me with financing, and all the news is ignorant." It also refers to the decision of the board of directors to make him feel helpless and helpless.
Shi Liqian’s move made the market feel awkward, but he has always been the “director of the listed company”, including New Creation (659), Guanjun (2778), Paliburg (617), and Country Garden (2007), etc. Some of them are real estate developers. Some of the real estate developers have said that they are “daring to speak out".
As for the senior shareholder of Gaoyin Financial, Pan Sutong, relying on the production of MP3 players, in 2008, the company acquired Guangyi International, which was gradually transformed into the current high-selling finance. In 2011, in order to win a commercial land in Kowloon Bay, Pan let Gao Yin “train” to invest 3.4 billion yuan and build today’s Gao Yin Financial International Center.
After the Battle of Jiulong Bay, Pan Sutong re-invested two fields of Ho Man Tin in 2016, involving about 12.7 billion yuan. In November last year, he won a residential plot for 8.9 billion yuan. At the same time, in order to obtain financing, Gao Yin signed a preferential secured bill with Deutsche Trust and borrowed 6.8 billion yuan. However, as a collateral, Gaoyin Financial International Center can be auctioned at the request of the lender.
A spokesman for the Development Bureau said that this is an individual incident. The tenderers decided to have their own commercial considerations. The Government will not make any comments. The stable supply of land will not be affected by the tendering situation of individual sites.