Chapter 464 Selling Jardines Securities Company!
Inside Jardine House, the headquarters of Jardines Matheson, Henry Keswick and Simon Keswick sat facing each other in heavy silence.
The atmosphere in the office was oppressively tense.
Particularly Henry Keswick, whose expression was so grim it seemed it could squeeze out water.
Although they had managed to avoid more severe legal consequences after arduous negotiations with the Governor's Office, the price was a staggering HKD 500 million fine.
This was a crushing blow for them.
Both men sat lost in thought, their emotions tangled.
They knew there was no way to escape the fine—the Governor's Office was determined to recoup its losses.
After several rounds of negotiation, HKD 500 million was the best deal they could secure.
But the burden would not be borne by Jardines Matheson alone.
The Rothschild family, an important shareholder, had reluctantly accepted the settlement but demanded that the Keswick family cover half the penalty—meaning 250 million HKD would come directly from the Keswick family's pockets.
Thus, not only Jardines Matheson but the Keswick family itself had suffered heavy losses.
Henry Keswick's heart was filled with helplessness and rage.
Who would have thought that simply trying to retaliate against Lin Haoran would lead to such a disastrous outcome?
Meanwhile, Lin Haoran had suffered no real damage.
On the contrary, he had acquired five prime plots of land at minimal cost and emerged with his reputation not only intact but even stronger.
They had well and truly "lifted a rock only to drop it on their own feet."
The Rothschild family's demands had been ruthless, leaving the Keswicks with no choice—refusal would mean risking a hostile takeover of Jardines Matheson.
After a long, stifling silence, Simon Keswick finally spoke, his voice filled with guilt:
"Brother, I'm sorry. I let you down."
Henry Keswick slowly raised his head and looked at his younger brother.
Finally, he just sighed heavily.
He understood that Simon was not entirely to blame—the strategic decision had been his.
It was only during the execution phase that Bautista failed to handle matters properly.
"We must accelerate Jardines Matheson's withdrawal from Hong Kong," Henry Keswick said after a moment of thought.
"Once we're back in Britain, with my support and guidance, Jardines Matheson's development will be much smoother.
To be honest, Simon, you still lack experience."
Originally, they had planned to relocate their headquarters to the UK sometime in 1981.
Now, after this catastrophe, Henry was determined to complete the move as quickly as possible.
"I'll do my best to pull out of Hong Kong completely within this month!"
Simon agreed wholeheartedly—he had no desire to stay a moment longer.
"Also, we need to sell off all remaining operations in Hong Kong," Henry added gravely.
"In the past, Jardines Matheson thrived largely because of support from the Governor's Office.
But after this incident, that support is gone. It will be impossible to rebuild those ties."
At present, Jardines Matheson's operations in Hong Kong had been drastically scaled back.
The only major asset left was Jardines Securities Company—everything else was largely property holdings.
"Brother, are you saying... we even need to sell Jardines Securities?" Simon asked in shock, clearly struggling to accept it.
As one of Hong Kong's top securities firms, Jardines Securities had long ranked among the top 30 listed companies by market value before 1979.
Although the explosive growth of the property sector had caused its ranking to slip slightly, it still firmly sat among the top 50, with a valuation around HKD 1.5 billion.
Behind that valuation was years of steady revenue and strong profits.
Jardines Securities represented a major pillar of Jardines Matheson's financial strength.
Yet now, his brother was suggesting selling it?
"Yes," Henry said firmly.
"Jardines Securities owes its prestige to our full backing.
But once we leave Hong Kong, that support will vanish, and its performance and value will inevitably plummet.
Selling it now, while its valuation is still high, is the best way to recover funds and minimize our losses."
"But, Brother... Jardines Securities is the culmination of decades of hard work.
Abandoning it so easily—"
Simon's voice trailed off, filled with reluctance and struggle.
"Simon, I understand your feelings.
But we must look to the future.
This disaster has already crippled us.
Remaining entangled here would only lead us into deeper peril.
The Rothschilds, though temporarily pacified, are watching us closely.
We must leave no further openings for them," Henry said coldly.
Bringing the Rothschild family into Jardines Matheson had been a necessary evil.
But now, their presence on the board was a growing threat.
Though the Rothschilds had once sworn not to covet controlling power, recent moves suggested otherwise.
You could never trust squid-like capital.
But it was too late to lament now.
If the Keswick family wanted to retain control of Jardines Matheson, they had to avoid further mistakes.
Otherwise, if the Rothschilds seized the opportunity, the Keswicks could lose everything.
"Alright. I understand.
Should we also consider selling our properties here, including Jardine House?" Simon asked cautiously.
Although he was the current taipan, in front of his elder brother, he preferred to listen and follow.
"For now, we keep the properties," Henry said after a moment's thought.
"The real estate market in Hong Kong is still rising.
Property values are likely to climb higher—we should wait."
He was well aware of the recent real estate boom.
Losing control of Jardines Matheson's core properties earlier still gnawed at him bitterly.
Originally, Jardines Matheson should have been the biggest beneficiary of the current property surge.
But with Wharf taken by Bao Yugang and Jardines Property now controlled by Lin Haoran, their real estate empire in Hong Kong had collapsed.
It was a painful reality.
However, Henry could not foresee that in just two years, the real estate bubble would burst.
Property values would plummet—and he would regret today's decision deeply.
"For now, find a buyer for Jardines Securities as soon as possible.
But given its valuation, it won't be easy," Simon said with a frown.
Jardines Matheson held about 40% of Jardines Securities—worth roughly HKD 600 million.
Finding a buyer willing and able to pay that much would not be easy.
Many Hong Kong conglomerates had the funds.
But with the property market booming, most were focused elsewhere.
Securities firms were no longer hot investments.
A HKD 600 million transaction would be complex and uncertain.
"Would Bank of East Asia be interested?" Henry asked after some thought.
Henry, though once a powerful taipan, had been away from Hong Kong's financial scene too long.
"Forget Bank of East Asia.
They have their own securities arm, which is comparable in strength to Jardines Securities.
Why would they spend HKD 600 million on us?" Simon shook his head.
"Then who do you think could buy it?" Henry asked.
Simon fell into deep thought, repeating the question to himself.
Henry patiently waited, gently stirring his coffee.
After a long silence, Simon finally looked up, a trace of resignation in his eyes.
"Brother, if there's anyone in Hong Kong with both the means and the motive to buy Jardines Securities...
It would have to be Lin Haoran."
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