Chapter 233: Lin Haoran's Powerful Backer?
As Lin Haoran spoke the words "regarding the source of my funds," everyone in the room instinctively perked up, waiting eagerly for the next sentence. However, what he said next made them all laugh bitterly. "No comment. It's a business secret," Lin Haoran said with a smile. Though dissatisfied, everyone could only accept it helplessly. After all, he had every right to withhold information. The hastily arranged press conference thus drew to a close.
Soon after, the various shareholder representatives also left, knowing it was pointless to linger. Burton stayed behind with Lin Haoran to further understand Kowloon Motor Bus's operations. Meanwhile, Su Zhixue rushed back to Wanqing Tower to resume work. Lin Haoran intended to learn more about Kowloon Motor Bus's internal affairs, while Burton needed to work with Tang Siu Kin on the transition.
Although Tang would temporarily retain the title of Vice Chairman, after losing true control he had already decided to retire gradually. At seventy-nine, it was time, although he had continued working purely out of a sense of duty.
"Mr. Lin, here are the documents detailing all of Kowloon Motor Bus's land reserves," Tang said, pulling a thick folder from a cabinet and handing it over. "Thank you, Mr. Tang," Lin Haoran replied warmly, flipping through the files.
Kwun Tong Lam Tin Choi Fat Road lot: 216,800 square feet.
Shek Kip Mei Tat Chi Road lot: 136,300 square feet.
Tsing Yi Cheung On Village lot: 87,900 square feet.
Tseung Kwan O Tiu Keng Leng lot: 189,800 square feet.
Sha Tin Starfish Bay lot: 237,600 square feet.
Yuen Long Tin Shui Wai lot: 139,600 square feet.
Kennedy Town Sai Ning Street lot: 64,600 square feet.
North Point Quarry Bay lot: 73,900 square feet.
...
As Lin Haoran reviewed the list, he was shocked. He hadn't expected Kowloon Motor Bus to have such extensive land holdings. Many of the New Territories and Kowloon properties had been acquired a decade or two ago when prices were still very low — the purchase prices were even recorded in the documents. For example, the Tin Shui Wai lot had been bought from the government nearly twenty years earlier for less than 300,000 HKD. Nowadays, with Yuen Long's rapid development, that lot alone would fetch tens of millions.
Lin Haoran quickly estimated that the combined value of these land holdings must amount to several hundred million HKD. Though most were in the suburbs and not city centers, suburban land wasn't cheap anymore. It was an astonishing asset base. Seeing these holdings lifted Lin Haoran's spirits — this investment had truly been worthwhile.
Meanwhile, Tang diligently briefed Burton on all the major and minor affairs of Kowloon Motor Bus. Even though Tang had lost real authority, he still cared deeply about the company he had helped build.
It wasn't until after three o'clock that Burton and Lin Haoran finally left the headquarters. "Boss, Mr. Tang told me he plans to gradually reduce his management role over the next year until full retirement," Burton said on the way back. "Good. Thanks for your hard work. Wanqing Group is growing bigger by the day," Lin Haoran replied.
Burton didn't mind the extra responsibilities. As he saw it, it was simply managing another company — and a valuable one at that. Bus operations might seem unrelated to Wanqing's other businesses, but if managed well, they could be leveraged to benefit the entire group.
For example, Wanan Real Estate could boost property values simply by ensuring a new residential development had its own bus stop nearby. In Hong Kong, with limited MTR coverage and few people owning private cars, buses remained the primary mode of transport for the masses.
Returning to Wanqing Tower, Burton went back to work, while Lin Haoran headed to Huanyu Investment's office. With Kowloon Motor Bus suspended from trading today, the team focused instead on Jardines Matheson and Hongkong Land. Lin Haoran glanced over the reports but quickly lost interest; acquisitions there were still far off.
"The boss of Kowloon Motor Bus has been secured, but should we keep buying more shares tomorrow?" Su Zhixue asked during a meeting.
"Yes, but don't rush it. Let the stock price fall first. Without competing consortiums snapping up shares, the price should correct itself. When it stabilizes, keep buying. Our goal is to eventually hold 49.9%," Lin Haoran said with a smile.
With over 49% ownership, no one would ever threaten their control.
Currently holding 36.83%, they needed just about 13% more.
With no rivals left, it would be easy to accumulate quietly.
And now that the stock price had soared, a correction was inevitable — they would buy on the dip.
After chatting with Su Zhixue, Lin Haoran left Wanqing Tower.
"Where to, Boss?" asked Li Weiguo, who was already in the driver's seat.
"Let's head back to Deep Water Bay," Lin Haoran said after a moment's thought.
He hadn't returned there for over a month, since early April.
"Got it, Boss," Li Weiguo replied, starting the car smoothly.
Meanwhile, news of Lin Haoran's takeover of Kowloon Motor Bus was exploding across Hong Kong.
In Hong Kong, the number of daily and evening newspapers was staggering — hundreds of publications for a city of five million people.
After the morning news deadlines passed, evening newspapers took over, covering local and international news within the same day, ensuring citizens received the freshest updates.
By late afternoon, the press conference from Kowloon Motor Bus had already made front-page headlines.
Previously, news of Lin Haoran's growing stake had circulated only among stock market insiders.
Now, through newspapers, television, and radio, it had spread citywide.
Lin Haoran's takeover of another major listed company became the hottest topic in town.
Yet surprisingly, most citizens were no longer shocked by his relentless acquisitions — they merely treated it as lively gossip over tea and dim sum.
What truly captured everyone's attention was something else:
the question posed by a Hong Kong Commercial Daily reporter —
Where did Lin Haoran's endless stream of money come from?
Was it true, as rumored, that Citibank was backing him?
Was Lin Haoran merely a front for Citibank's operations in Hong Kong?
Speculation ran wild:
"How deep are Mr. Lin's pockets?
Buying listed companies seems as easy as breathing for him."
"Who knows? When he first bought Green Island Cement, my jaw dropped.
Then he took Hongkong Electric, Hong Kong and China Gas, and now Kowloon Motor Bus.
If it's all his own money, it's unbelievable!"
"Even Bao Yugang had to fight tooth and nail to acquire Wharf Holdings.
And Li Ka-shing needed HSBC's help to take over Hutchison Whampoa.
How does Lin, at barely twenty-something, have such power?"
"I don't care where the money comes from. I'm more interested in what his next acquisition will be!"
"At least he's Chinese.
Better our companies in Chinese hands than British ones!"
"Absolutely.
I fully support him!"
The chatter also reached the ears of the British elite:
Noel Croucher, Sir Douglas Clague, John Boyer, and even Governor Murray MacLehose took notice,
frowning as they read the reports.
If Lin Haoran truly had Citibank backing him, then all of Hong Kong's power players would need to reassess their strategies carefully.
After all, though Britain wielded official authority, the United States was the true leader of the Western world.
Citibank was one of America's financial giants, with deep influence in both Congress and the Senate.
Was Citibank really Lin Haoran's secret backer?
Reading the papers, all of Hong Kong's major players fell into deep contemplation.
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