sbdcsierra Chapter 12 Acquisition of the Newspaper
Chapter 12 Acquisition of the Newspaper
Lin Zhou followed Li Huiting into the HSBC office. "Mr. Lin, please have a seat for a moment. I'll go and process the transfer."
Li Huiting's voice was crisp and clear. She took the ID card and property ownership documents from Lin Zhou and put them together. She then took out the certificate previously issued by HSBC from the filing cabinet and skillfully arranged them into a stack.
Lin Zhou found a seat by the window and sat down, his fingertips unconsciously rubbing the cold armrest. He sighed inwardly, thinking that Hong Kong in this era was indeed full of opportunities, especially real estate, which was unbelievably cheap. Two houses would only cost 97,000 Hong Kong dollars.
It's important to understand that even ten years later, when Hong Kong property prices plummeted in the mid-1970s, they were still significantly higher than they are now. In the future, a property of this size and location would cost tens of millions to acquire. Lin Zhou couldn't help but think that this was probably the biggest advantage of time travelers: being able to capitalize on key moments in time and accumulate future golden assets at bargain prices.
Not long after, Li Huiting came over with a stack of documents, a gentle smile on her face: "Mr. Lin, all the information has been verified. Now let's sign the house purchase and sale contract."
She spread the contract out on her desk, pointed to the key terms, and explained, "The price is HK$97,000. The transfer fee and taxes will be borne by the bank. You just need to sign to confirm."
Lin Zhou carefully scanned the contract; the terms were clear and straightforward, with no hidden traps. He picked up his pen and signed his name at the signature line. The scratching sound of the pen nib across the paper seemed to be a testament to his establishment in this era.
After signing the contract, Li Huiting led Lin Zhou to the finance office to pay the fees. The finance office reeked of ink and paper. An accountant wearing glasses checked the documents and announced the amount: "Ninety-seven thousand Hong Kong dollars, cash or check?"
"Cash." Lin Zhou was prepared and took out stacks of brand-new Hong Kong dollars from his suitcase. The fifty-dollar bills were neatly stacked together, a thick pile that surprised the accountant. In this day and age, someone who could come up with nearly 100,000 dollars in cash to buy a house was definitely not an ordinary wage earner.
The accountant counted the banknotes one by one, his fingertips damp with saliva, his movements swift and meticulous. Lin Zhou stood patiently to the side, while Li Huiting softly introduced, "Mr. Lin has excellent taste. These two houses are in a prime location with complete amenities, making them suitable for both owner-occupancy and rental."
Lin Zhou smiled but didn't say much. Right now, however, he valued having a place to call his own.
Half an hour later, the payment was completed, and the accountant issued a receipt and a purchase invoice, handing them to Lin Zhou: "Mr. Lin, all the formalities are done, and the property certificate will be delivered to your designated address within a week."
"Thank you for your help." Lin Zhou took the voucher and carefully put it away.
As they walked out of the finance office, Li Huiting followed him and asked curiously, "Mr. Lin, where do you currently work? Judging from your demeanor, you must have a respectable job?"
Upon hearing this question, Lin Zhou couldn't help but laugh. Thinking of that internet meme, he replied with a touch of nonchalance, "Work? Impossible. I'll never work in my life."
Upon hearing this, Li Huiting was taken aback at first, then chuckled, "Mr. Lin is quite frank. But then again, with your abilities, you certainly don't need to be controlled by others. I happen to have some high-quality assets for sale here, all of which are in good financial condition. Would Mr. Lin be interested in taking a look?"
"Oh? What kind of projects are there? You can take a look, and I'll take any that are suitable." After saying that, Lin Zhou followed Li Huiting to her office.
Li Huiting gestured for Lin Zhou to sit on the sofa in the reception area, then took out a manila folder from the filing cabinet and handed it to him: "These are assets entrusted to us by the bank's valued clients for transfer. They are urgently selling for various reasons, and the prices are very favorable. If you don't want to work a regular job, why not become your own boss and save yourself the trouble of starting from scratch? You can start operating and making a profit right away."
Lin Zhou remained silent, took the folder, and opened it. The documents inside were very well organized, with detailed information for each asset, including its business scope, financial status, and transfer price.
He quickly flipped through the documents, his eyes scanning over each item: a textile factory in Kwun Tong, fully equipped with stable orders; a small financial company in Central, mainly engaged in foreign exchange and microloans; and several restaurants and grocery stores scattered throughout various areas of Hong Kong.
These assets all looked promising, and they could indeed generate quick profits after being acquired, but Lin Zhou always felt they weren't right for him. Until he turned to the last few pages, a transfer document for the Kowloon Evening Post caught his eye, and his gaze instantly stopped.
Newspaper?
Lin Zhou's heart inexplicably quickened. Before his transmigration, he was a seasoned online novel enthusiast, having read many popular novels and deeply understanding the allure of stories. In Hong Kong during this era, newspapers were the primary source of information, and serialized novels were a powerful tool for attracting readers. Wasn't Jin Yong's Ming Pao newspaper a top-tier newspaper in Hong Kong, built step by step through classic serializations like the Condor Trilogy?
If I were to take over this newspaper and adapt those popular novels from later generations into serialized stories, combined with current social issues, why would I worry about the newspaper's sales? In that case, the newspaper would not only be profitable, but it would also become a platform for me to spread my influence—a win-win situation.
"Ms. Li, could you tell me more about this Kowloon Evening Post document?" Lin Zhou asked, pointing to the document with barely concealed urgency.
Seeing his interest, Li Huiting immediately began to explain in detail: "This newspaper has been established for five years and was originally doing quite well, with a daily circulation of about 1 copies and a stable readership. However, the newspaper owner suffered a failed investment last year and owed the bank a large sum of money. Unable to repay the loan, he had no choice but to mortgage the newspaper to the bank and is now in a hurry to sell it for cash."
She paused, then continued, "I've spoken with the owner several times. He's facing a cash flow crisis and is eager to pay off his debts, so there's a lot of room for negotiation on the price. Plus, the newspaper also has a small printing plant attached, with equipment that's about 80% new and can meet the daily newspaper printing needs. Selling it as a package would be more cost-effective."
"What is the transfer price?" Lin Zhou pressed.
"The boss originally asked for HK$200,000, but after several rounds of communication, he agreed to lower it to HK$180,000, which included all the newspaper's shares, office space, equipment, and existing staff."
Li Huiting quoted the price and added, "This price is really a good deal. The printing plant's equipment alone would cost tens of thousands of yuan to buy new on the market, not to mention that the newspaper already has a publication number and distribution channels."
Lin Zhou quickly calculated in his mind. HK$180,000 was more than enough for him, having just spent nearly HK$100,000 on a house. Moreover, the newspaper company included a printing plant, saving him the trouble of finding a partner printing company later, making it a worthwhile deal. More importantly, this was exactly the kind of business he wanted.
"Miss Li, I'll take this newspaper, but I think the price is still a bit high."
A hint of excitement flashed in Li Huiting's eyes: "Mr. Lin is indeed decisive. As for the price, I can take you to talk to the boss in person. I'll contact the newspaper owner now to see if he has time."
She immediately picked up the phone on her desk and dialed the newspaper owner's number. A slightly tired male voice came from the other end of the line. Li Huiting quickly exchanged a few words in Cantonese, and after hanging up, she said to Lin Zhou, "The boss has agreed to meet now. His office is on Mong Kok Road nearby. Shall we go there now?"
"Okay," Lin Zhou agreed without hesitation.
The two walked out of HSBC and got into a black taxi. As the car drove through the streets of Hong Kong, Lin Zhou watched the scenery rushing past the window, his heart filled with anticipation.
Half an hour later, the taxi stopped in front of an old office building on Mong Kok Road. The newspaper owner was already waiting at the door. He was a middle-aged man in his forties, wearing a faded shirt, with slightly messy hair, bloodshot eyes, and a somewhat haggard appearance.
"Miss Li, Mr. Lin, please come in." The boss's voice was a little hoarse as he led the two into the newspaper office.
The office was small, with a dozen desks lined up side by side. Several employees were busy organizing manuscripts, and typewriters were humming. A sample copy of the Kowloon Evening Post hung on the wall, with local news on the front page, followed by supplements and a GG section; the layout was fairly neat.
"Mr. Lin, here is all the information about the newspaper. You can take another look." The boss handed a stack of documents to Lin Zhou, his tone tinged with reluctance. "This newspaper is like my child. It's a pity I'm no longer able to support it. I hope you can manage it well."
Lin Zhou took the documents, quickly flipped through them, and confirmed that the newspaper's shareholding structure was clear and there were no debt disputes. He nodded and said in Mandarin, "Don't worry, boss, I will manage it diligently."
"Mr. Lin, did you just come from the mainland?" the boss asked curiously.
"Yes, I've only been here for about a week." Lin Zhou didn't hide anything.
"Could you lower the price a bit? I feel like your price is too high," Lin Zhou said, changing the subject.
"That's really not high. I think 18 is a bargain. I wonder how much Mr. Lin is planning to offer?" the newspaper owner chimed in.
After much back and forth, the two finally agreed on a price of 15, and both felt they had gotten a good deal.
Subsequently, witnessed by Li Huiting, Lin Zhou and the newspaper owner signed the transfer contract. When Lin Zhou signed his name on the contract and handed the owner a check for HK$150,000, the owner took the check, his fingers trembling slightly, his eyes a little red: "Thank you, Mr. Lin, thank you, Ms. Li, now I can finally pay off my debts."
The handover went smoothly, and the boss immediately introduced Lin Zhou to the employees. Although the newspaper staff were somewhat apprehensive upon learning of the new boss, they had no choice but to accept the situation once they saw that the previous boss had already taken his money and left. Lin Zhou briefly greeted the employees, promising to pay wages on time and not to lay off staff easily, assuring them to continue working with peace of mind.
Li Huiting looked at Lin Zhou and said with a smile, "Mr. Lin, you are now the boss of a newspaper, congratulations."
Lin Zhou smiled, his heart filled with pride. He could almost see his newspaper sweeping Hong Kong and his stories being adored by countless readers.
"Miss Li, let me treat you to a big meal tonight! You've been helping me all day, I should really thank you!" Lin Zhou invited Li Huiting.