Chapter 1895 No Land For You
The night was peaceful for almost everyone except for the Operations Director of IFC who was struggling to understand why he had accepted such a deal with someone whom he did not exactly have much interaction with.
Was it with Kong Rong that he let down his guard? Regardless, the more read the agreement he had signed on the table whether it was based on coercion or not, he could not simply ignore it. Well, he can do that but that also meant that Jin and his company would have rights to the rental shop which his tenant was moving out from at any price.
So even as he cracked his head, morning came and he never had a single wink of sleep. When he reached the office, the only thing Kai Hung did was to go straight into the CEO"s office and tell him about the matter at hand.
"Why? Isn"t that a good thing? We have some failing investments and this will cover our losses just nicely. At most, we say that we have to renegotiate the pricing once more after a revaluation of the place. After all, if he agreed to the initial 88 million…" CEO Na Ying replied. "Besides, it"s just a bas.e.m.e.nt and how big can a shop get? Let"s just have an emergency board meeting and see about it."
Soon, it did not take long for everyone to jump on board of the hype train to get Jin into the picture. Even a few of the board members had heard of this Dungeon Supplier and had even checked the store"s potential to be of a relatively high value. There was no need to doubt that it would definitely bring fortune in.
"Since he wants the bas.e.m.e.nt, he should give it to him. At most, we pull out some random taxation that needs to be paid in order to continue using it. That way we can still earn some petty cash from him after that." One of the Board Members said.
"Who knows? Maybe if he is that successful, we might be able to convert the remaining car park s.p.a.ces to him and we can sell it to him at an even higher price. I do not think he would reject it."
"But if he buys the bas.e.m.e.nt, he will be a part of our board. Are you willing to take that risk?" Kai Hung asked and the board was curious.
"What do you mean risk?" The members asked.
"If he buys more of the bas.e.m.e.nts, he will technically be holding shares more than all of you combined and thus have a bigger say in this board meeting. In fact, if things go on, he would be the third or fourth biggest stakeholder in IFC holdings."
"I do not see a problem with that. If he has the money and capability to do so, I welcome such talented people into my board and be part of the decision making team so that IFC Holdings can prosper." Na Ying replied and the rest of the board also nodded their heads.
In summary, everyone wants the short term injection to recover from their losses and the rest of the headaches can come later when Jin enters the fray. If he was not doing well and needed to recoup losses, the board wins too since they could take away his shares. And besides, he is a small timer somehow with lots of money in his hands.
To the people at the top of IFC Holdings believed that he had this short term success without thinking much of the future until the IFC CEO and Operations Director met with Jin and his lawyer Xiong Da who actually later requested something else.
"You… what?"
"As much as I want to sign that contract with you, it seems that we have a few issues with it." Jin said and Xiong Da immediately took out a series of doc.u.ments to certify its notification for their lawyers to read.
"By law, IFC Holdings have the permit to own, lease, and build anything they liked on the land they own. However, anything below a certain land level which unfortunately coincided with the construction of the fifth bas.e.m.e.nt is considered state land. IFC Holdings had to rebid for the land again if they wished to sell us that s.p.a.ce." Xiong Da said and Jin was relieved that Xiong Da knows his s.h.i.+t very well.
"You are technically selling a lease of illegal land to Jin and can be charged for it. Still, this is a small matter since we found it out early rather than having a binding contract with you. In fact, we have already applied to the Urban Land Authority and will be submitting for bidding if the state allows it to."
At that moment, Na Ying looked at her team of lawyers who could miss out on such an important detail and it was only Xiong Da pointed at them a certain clause which made the team of lawyers look like fools for allowing their opponent to use such a loophole in the law to get away from it.
And to their surprise, it was not long that the bidding auction for that particular sub soil land had been released to the public by the state land. It was as if Jin had some forces behind the scenes that they did not understand and comprehend. Kai Hung was very sure that the Dragon Clan"s Leader did not even have such power with the government which goes to say how much of an enigma Jin was or he was just so lucky.
But what Xiong Da did not understand was that if Jin was willing to fork out so much money, why could he not just rent more stores instead than to get that particular bas.e.m.e.nt instead? It was as if he was practically interfering with the IFC Holdings just so that he could get what he want.
That was when Jin smiled and said that this was not the end of it.