ZKIZ Archives


評David Webb 的 Cashing up with Next Media (為壹傳媒(0282)計數)

(註: 謝謝鉛筆小生、bonbon2468的提醒,筆者無持有此股。)

David Webb 在2012年10月26日 發出這一篇文章,在之前一日的壹周刊都有一篇David Webb對該項收購的建議,但如果要看得清楚明白他意思,還要看這篇原文。在此文章中,他稱他已持有壹傳媒股份。但我卻不認同他的計算方式。在此先談談David Webb 說過些甚麼,筆者再作一個總結。

(1) 原文簡譯


在2012年10月15日,壹傳媒有限公司(壹傳媒,282)簽訂兩項有關可能出售本集團台灣印刷及電視業務之意向書,包括台灣蘋果日報及台灣壹周刊予辜仲諒。印刷媒體價格為160億台幣(42.43億),電視媒體價格為15億台幣(3.98億),合計為175億台幣(46.41億)。

在2012年3月31日,壹傳媒淨借款為2.88億,加上此項出售所得的現金,會使手上現金增至43.5億,並計上期間的現金流出。當中或許有一些交易費用,但這並不重大。我們假設這些附屬公司是並不包括負債的。

現在發行股數為24.12億股。在2012年9月30日,這兒合共有4,868.4萬股購股權並無行使,較2012年3月30日的4,586.4萬股略為增加,平均行使價為1.067元。另外,還有一項在2007年的被邀請參與的「新股份認購及融資計劃」,是當行使購股權後,提供3年貸款認購股份期權的計劃。除100萬股外,這計劃於2012年11月7日會終止,另外因購股權行使價為2.12元,所以我們可以忽略之。這100萬股的行使價為2.49元,並在2013年2月24日到期。

所以當所有購股權行使後,會帶來約5,200萬,使現金餘額增至44億元,股份數目則增至24.61億股,即每股現金約1.79元。

壹傳媒無現金需要,剩下的生意是賺錢的香港媒體生意,包括原來的蘋果日報、壹周刊,以及持有香港的固定資產,包括於將軍澳的總部,所以可以保持一定的借貸。

在2011年,持有壹傳媒74.05%的大股東黎智英注入1億美元(7.76億元)購入動畫業務,而這項業務是虧損且有負債淨額。他在12年前在蘋果速銷失敗虧損約1億美金亦為人所熟知,他亦是一位善良的金主,為香港的泛民主派提供資金。以上的因素可以使我們認為他是決定重新注重香港核心市場,而跟隨著他的股東,可以通過他出售台灣的業務來保障他們的權益。

如果台灣的交易完成,以昨(25)日的收市價1.56元計算,壹傳媒是以現金的折扣價出售。我們預期大部分的現金以特別股息分發,所以投資者有機會免費取得其香港的媒體業務。但亦有以下股價向下的風險:
  • 交易不能完成,我們注視的這真是不幸地,大約有20%的機會交易不能成功。這交易看來出價公平合理,辜先生也拿到一項戰略性資產- 一份讀者廣泛的報紙。就算他退出,這價值也會體現出來,而其他人也有興趣。
  • 黎先生或許會繼續保留資金,並投入資金於虧錢的生意,例如當我們大部分人都減少收看時間的時候,並投入多於時間於網上及網絡視頻下,加入高度競爭的的香港電視媒體生意。但是,我們認為黎先生已經在台灣電視市場,所以他應該和香港電視市場保持距離,不像另一位種類差不多的企業家城市電訊(1137)的王維基。黎先生是一位對社會輿論更敏感的人-他不想因投入新生意,而不向股東分派股息,導致對他有壞的印象。所以這是他以收購動畫業務,而不以向股東集資的方法,向台灣電視業務投入資金。

如果黎先生真的有興趣投入新生意,他應該用派息所得的錢自行投資。所得的44億股息,按他持有74%的股權計算,大約也有32.5億股息讓他去玩。意向書會在2012年11月17日變成正式合約,並在2012年12月17日完成。這應是一個對黎先生及其股東們快樂的聖誕節。

(2) 評論

筆者認為,David Webb的現金估值基礎有一些問題。根據這篇文章,David Webb 並無計算其盈利,只就其所持現金著眼,所以筆者也就現金上討論一下。

在現金上,我相信David Webb 漏計以下事項:

(1) 練台生的賠償                                                                                                                          因當初練台生以14億新台幣(3.71億)表達購入壹電視意向時,付出了1.4億的訂金,所以取消收購時需賠償雙倍訂金。

(2) 壹電視的虧損
上年,壹傳媒全年虧損11.68億元,而出售是在10月16日完成,所以壹傳媒亦應需佔這6個半月的虧損,約6.327億元。

(3) 財產交易所得稅
在台灣進行財產交易,需要繳交這項所得稅,假設這項交易在台灣境內進行,以交易作價減台灣的非流動資產19.21942億計算,獲利約27.191億元,以適用稅率20%計算,即需交5.438億元,這金額也許只有高估,或許稅項一概免除,但為保守計,亦以該5.438億元作為稅項撥備。

(4) 台灣借的銀行貸款                                                                                                                      根據壹傳媒年報,估計4.45億元是向台灣銀行借貸,但出售時這項貸款或許不需償還,所以亦不應計入負債,所以可以加回現金中。

計及以上各項因素後,壹傳媒的現金數量如下:

另外,在交易後,壹傳媒仍可保留在台灣的固定資產,據各方估算,金額約60至70億新台幣(約15.91億至18.86億),而在帳面上,這部分物業因為屬於經營資產,故每年作折舊,並未作估值,在2012年3月的金額約7.1億元,所以或許在改列為投資物業後約獲得8.81億元至11.76億元的特殊利潤,因在出售這項業務後仍會出租予辜仲諒,所以會有新增租金收入,以台灣商業地產的年租金回報率3%計算,每年仍可有約4,773萬至5,658萬的租金收入,對業績也有正面影響。但由於爽報及未來虧損業務不能確定,加上報紙銷量正在減少,所以香港報紙銷售的利潤仍是不太明朗,但相信仍可保留過往一半的利潤,約2億元,所以一年利潤大約可能保持約2.5億左右,每股大約10仙,剩餘業務市盈率約2倍,是否便宜,請各位看官自行判斷。




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Monkey with the FCUK t-shirt

Always love the Saturday morning, especially after a raining night, the air is so clean and fresh.

Checked the overnight markets. DOW closed at 10,193.39 +125.38 (1.25%). The content, I saw a group of monkey.

As I always tell others (also myself) to get the market defination right before elaborating further, how to profit from the market.

My defination of market;
(1) A place where legalized all the conman job. OR
(2) A place where, monkey see monkey do.

See the below content;

“Technically speaking we’re very oversold -- really that’s the understatement of the year,” said Walter Todd, who helps manage about $800 million at Greenwood Capital in Greenwood, South Carolina. “I’d rather be buying now than I would three weeks ago.”

“It’s an enormous document -- the devil will be in the details,” said David Katz, chief investment officer at Matrix Asset Advisors Inc. in New York, which manages $1.2 billion. “The early read is that it’s not as onerous as some feared.”


That is why I'm reminding myself, this is a typical;
Monkey see, monkey do market. After event's bull.................


Please be reminded, always STAY AWAY from the market.
Judge and analyse all the available facts and informations, make the very own decisions. Not necessarily has to be a contrarian, but it's a must.

If I'm wrong, at least I am fully awared of what is going on.VIGILANT in analysing all the facts and informations obtained and after the decisions, monitoring the risks stringently.

Don't be the monkey, with the FCUK t-shirt.
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Lunch with the FT: Guo Guangchang


2014.11.14
Over vegetarian food, the billionaire behind China’s biggest private conglomerate talks about Cultural Revolution-era cuisine, learning from eastern and western sages, and what tai chi and investing have in common
W
hen a rich Chinese businessman is about to enter a room, my radar usually picks it up well in advance – the give-away is the sound of underlings tripping over themselves in the corridor to get out of the great man’s path.
But there’s no scurrying and kowtowing before Guo Guangchang arrives for lunch in the management canteen of his headquarters at the unfashionable end of the Shanghai Bund. Suddenly he’s just there, a slight bespectacled man looking like a cross between a librarian and the migrant worker he might have been – if he hadn’t built an $8bn conglomerate.
Guo Guangchang illustration for Lunch with the FT by James Ferguson
Guo is not China’s richest man; nor is he the flashiest, nor – according to him – even the cleverest. But in his 47 years, he has risen from peasant penury to having so much money that the desire to be rich no longer gets him up in the morning.
Fosun, the group he co-founded with three university friends in 1992, is the largest private conglomerate in China. It owns big stakes in the Shanghai hospital where my children get their flu shots, the cake shop where they get their birthday cakes, the holiday village where they’d love to spend half-term, quite apart from a fair amount of the ground we walk on (through its vast Shanghai property holdings).
It has also recently tried (and failed) to buy Forbes magazine, is trying (and will probably manage) to buy Club Med and has already bought Portugal’s largest insurance group, Caixa Seguros. Fosun has made 12 overseas acquisitions so far this year and there’s a good chance it will be coming to a country near you soon, looking to buy a company you know well. So this seems the ideal time to try to figure out what makes Guo Guangchang tick.
According to Guo, it’s a mixture of Buddhism, Daoism, Confucianism, and Warren Buffett. He says he finds inspiration for his investment decisions from China’s oldest sages (and that other one from Omaha). He is also a devotee of tai chi, the Asian martial art that he practises as often as he can. But the first thing we discuss is food – and not just because we’re having lunch.
Like many Chinese of his generation, however, Guo seems more nostalgic than critical of those darkest days of China’s recent history. He becomes positively lyrical on the topic of his mother’s signature dish from that period, meigancai(literally translated as “mouldy dried vegetables”), which he says tastes best with a generous dollop of pork lard.Food (and the lack thereof) was a big issue in China when Guo was born in the eastern province of Zhejiang in 1967. The country had recently embarked on Mao Zedong’s Cultural Revolution, resulting in widespread economic and social turmoil. He recalls that his family weren’t starving but neither were they banqueting (basic foods were rationed by how much each family contributed to their Communist production team). “We could definitely eat our fill but the food could be very bad,” he says, recalling how his mother “used to plant sweet potatoes secretly to feed us”.

Podcast



FT News podcast logo
Patti Waldmeir talks to Guo Guangchang about his philosophy of life and about getting rich in China.
“We were poor then. We used to steam a bowl of rice and then put one layer of meigancai on top of the rice. Then the pork fat would melt into the rice. It smelled very good. Even today, it still makes my mouth water whenever I think about it,” he says, “meigancai is our nostalgia.”
As well as acting like Guo’s own version of Proust’s madeleine, this sun-dried pickle also became his staple ration at boarding school: in China most rural children, including those from peasant families like Guo’s, have no choice but to board in the nearest town if they are to attend school at all. His mother loaded a pot of meigancai with lard and as many pieces of pork as the family could spare, and he carried enough to school to last the whole week.
He roars with delight when I ask whether we’ll be eating meigancai at our lunch, served in a private room of Fosun’s free all-vegetarian management canteen. But it seems we won’t – not because this earthy dish is not grand enough but because it’s not vegetarian enough. As he slurps a bowl of steaming handmade noodles, and takes an oversized mouthful of the kind of sweet potato his mother used to plant, I ask Guo if he is a vegetarian. He says he isn’t, though he spent a month off meat when he was mourning his mother’s death, since she was a devout Buddhist. If possible, he also eats a meat-free meal in the canteen every day at lunchtime.
Today’s fare is cold steamed sweetcorn, sautéed winter melon with black mushrooms, okra, spinach, and potato with cowpea. At most business lunches in China this would be lubricated by a type of firewater known as baijiu, but not here. It’s all part of the Guo approach to life and getting rich – do nothing by extremes, whether it’s food, drink or market speculation. Tai chi, he continues, is about keeping the extremes of yin and yang in balance.
What, I ask, has all this got to do with buying Portuguese insurance companies? Guo takes a stab at explaining how it applies to his investment decisions.
“The aim of tai chi is not to strike first to gain dominance over an opponent but to wait and hit at the right moment,” he says. “That is, to be the first one to take action after feeling the change in momentum. Investing is similar to doing tai chi. No one holds a permanent speed advantage in the market due to the limits of human intelligence and vision. Your advantage comes from your ability to feel the change faster and take decisive action faster.”
Though any tai chi master worth his salt will tell you that it takes years to understand the first thing about this martial-cum-spiritual art form – and I know I have only grasped a fraction of his meaning – I do have some idea of the whole “feel the change” thing. Having recently tried tai chi, I learnt how, by simply extending one finger down my outer thigh, I could alter my balance to the point where even the instructor’s determined pummelling couldn’t topple me.
Guo says he used to practise tai chi almost every day; even now that he’s too busy to practise more than a couple of times a week, he “can still do tai chi even by sitting” – including while having lunch, it seems. “You see, I rarely sit like this,” he says, slouching for emphasis. “I usually sit like this,” he explains, perching upright on the edge of the chair. “In this way, your qi is flowing smoothly inside your body.” He adds that this helps him “have a good mental outlook” and “recover from general physical complaints”.
My grasp of the Chinese medico-spiritual concept of qi or “spirit” is about as weak as my grasp of tai chi. But Guo is so intent on helping me understand that he breaks into a rare bit of English to insist, “If you just practise the movements for five or 10 minutes, it’s good for your health. Even sometimes during conference calls, I listen to the other side while practising some movements,” he says. Staff say he’s been known to break into spontaneous tai chi in the coffee breaks during tough dealmaking sessions.
. . .
The influence of eastern spirituality on his investment strategy doesn’t end here. Buddhism, Guo explains, teaches you that “everything starts from your heart, and feeling the heart of others is the most important doctrine in Buddhism. In doing business that means seeing things through other people’s eyes. I feel that doing business is just like practising Buddhism. Money is not your only purpose. Your purpose is to make things better for other people, and in the end, money will come as a result.”

Fosun Corporate Building


2 East Fuxing Road Shanghai, 200010
Spinach
Okra
Mushroom and wax gourd
Potato and cowpea
Vegetable noodle soup
Sweet potato
Sweetcorn
Total: Free
“Business,” he adds, “is also the best form of charity” (or that is what he tells Buddhists who come asking for donations). “By making a company successful, you can provide more employment, and, if you treat your staff well, then your business itself becomes a charity.”
Guo has been quoted as saying that intelligence isn’t the key to wealth. Instead, this is something known as xinli. It’s a term that many otherwise articulate people struggle to translate; this is how Guo explains it: “Some people make the wrong decisions but that’s not because they don’t have superior intelligence but because they can’t resist the temptation of the monsters hiding in their heart.”
For example, “Many people bought subordinated debt in the US before the subprime crisis when they knew clearly it was problematic but they knew if they didn’t buy it, their bonus that year would be reduced, so they made a decision based on short-term interests, not because they were ignorant of the risk.” Those people didn’t have xinli. Admitting when you’ve made a mistake is another form of xinli, he says – even if you are the chief executive and you think you should always be right. Think of Forrest Gump, he says: “He wasn’t intelligent but he was very successful”.
Guo also uses the example of Warren Buffett, the man on whom he has modelled his strategy of building a conglomerate that uses insurance funds to invest in widely diverse businesses. “I don’t think he’s been successful because he is smarter than others,” says Guo. It’s more about investment discipline, sensitivity to the market, and taking the long view, he adds. Those things, it seems, are also xinli.
Buddhism and Buffettism aside, there is another sage whom Guo credits with his success: Deng Xiaoping, the leader who steered China through wide-ranging economic reforms after Mao’s death and who is famous for his (possibly apocryphal) saying, “To get rich is glorious”. Guo says: “If [Deng] hadn’t distributed the land to the peasants, we would never have had enough food to eat. Most [villages] in Zhejiang were starving”. He says that, without Deng’s reforms, he could never have attended university, “and then there would be no Fosun”.
For Guo’s company name reflects his treasured university education: Fosun means “star of Fudan University”, his alma mater and Shanghai’s most prestigious academic institution. But he didn’t just get a philosophy degree from Fudan: he honed his business skills there by selling bread to hungry classmates when they finished studying at 11 each night. He earned Rmb5 a night, which seems a paltry sum until he points out that his monthly expenses were only Rmb30 at that time.
After graduation in 1989, he had planned to study overseas but, instead, used the tuition money to found Fosun with three classmates (all of whom remain involved). Today, 22 years after the company was founded, it has investments from steel to mining, tourism to pharmaceuticals.
I hope you can understand we were poor for a very long time. I hope you can understand our desire for a good life and money. Let’s not rush to criticise that
This kind of “Zhejiang-to-riches” tale is not totally unheard of in modern China: Jack Ma, founder of internet giant Alibaba, is also a Zhejiang boy – and a fellow fan of tai chi. Guo is often compared with Ma but the Fosun chief says he’s not as clever as the ecommerce tycoon (nor, for that matter, so good at tai chi): “No one is as smart as Jack Ma,” Guo says, exploding with mirth. “He’s a . . . what do you call it . . . an alien. I’m just a normal guy,” albeit one with a personal wealth of $4.3bn, according to Forbes’ China Rich List.
Talk turns to more recent developments. Fosun has been battling for more than a year to take majority control of French holiday chain Club Med, and it recently paid $725m to buy New York’s Chase Manhattan Plaza. But its most important strategic move recently was to spend €1bn buying Caixa Seguros, an insurance group that gives him the funds he needs to buy overseas companies that can capitalise on China’s growing affluence, such as Club Med, without taking on more debt at a time when rating agencies already say Fosun has too much borrowing.
“Owning that insurance company means we own €13bn in insurance assets that we can use for investment,” he says, adding that assets from the Portuguese group funded Fosun’s $100m stake in Alibaba’s recent US listing. But, I say, you can’t just milk the Portuguese company for funds, you also have to sell insurance to Portuguese people (and deal with insurance regulations that are very different from those in China), isn’t that a bit difficult? “It’s not the first time we have invested in an insurance company. We understand insurance,” says Guo. This has the ring of famous last words but his confidence won’t be shaken. Buffett uses insurance to drive investment, and Guo is determined to do that too.
It’s time to finish up but Guo has hardly touched his noodles, and I still want to know: what does a boy who grew up in a peasant family during the Cultural Revolution think about the current state of the soon-to-be biggest economy on earth? Pundits wring their hands over greed, ostentation, and the decline of traditional values. Is Guo worried that China will just collapse under the weight of its own acquisitiveness?
He rebukes me gently. “I hope you can understand that we were poor for a very long time. I hope you can understand our desire for a good life and for money. Let’s not rush to criticise it. That is my opinion”.
He adds: “I believe Chinese culture, including Confucianism, Buddhism and Daoism, is very balanced. It will lead people back to what they really need in their hearts. When people are rich enough, what they hope for will be different. At the beginning, a man wants to be rich, he wants to show off his wealth, it’s normal. But, gradually, he finds it’s quite boring. He will gradually find that inner spiritual balance is more important so he will turn to that.”
With that, the philosopher entrepreneur heads out, possibly to buy another famous name near you.
-------------------------------------------

Rise of a business empire

1992 Guo founds Guangxin Technology Development Company, a market research group, with classmates from Fudan University, using Rmb38,000 as the company’s founding capital. Guangxin subsequently takes a founding stake in Fosun Group.
1994 Expands investments to property and pharmaceuticals.
2004 Fosun International founded in Hong Kong, listed on main board of Hong Kong stock exchange in 2007.
2010 Acquires 7.1 per cent of Club Med, the first time a quoted Chinese group has taken a direct holding in a listed French company.
2012 Sets up joint venture Pramerica Fosun Life Insurance with Prudential Financial. Also invests in Minsheng Bank, China’s largest privately owned lender.
2014 Wins bidding war for an 80 per cent stake in Portugal’s largest insurance group, Caixa Seguros, for €1bn. Other investments include Malaysian restaurant chain Secret Recipe, and US film production venture Studio 8. Raises bid for Club Med.

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Get along with you?你想錯了

2016-04-25  TCW

業務部新兵Adam試用期間犯下疏失,讓公司丟了大客戶。但Adam和主管密談後卻帶著笑臉走出辦公室,說儘管老闆臉色鐵青,仍不忘用「Get along with you!」(真是和你合得來)安慰他。Adam以為這是一句好聽話,殊不知他想錯了……

【關鍵用法】

Get along with you!

【你以為】和你相處得來! 【其實是】去你的臭傢伙!

解析:這句耳熟能詳的片語常指「與某人和睦相處」,不過,口語上也常用來表達惱怒、不耐煩或不相信對方的話。意指何者,得留意前、後文語氣。

例句:Get along with you! HoW can you treat our important client like that!

(去你的臭傢伙!你怎麼可以那樣對待我們的大客戶!) Stuff you!

[你以為]吃飽點! [其實是]想得美!

解析:stuff最常見的意思確是『填滿』或『吃飽』,但祈使句stuff you或get stuffed可不是真的招呼你吃飽一點,而是帶著輕蔑意味的回語。

例句:You think I’m going to work for that miserable wage!Stuff you!

(你以為我會為了那麼一丁點微薄的薪水賣命?想得美!) Your behavior gets my back up.

[你以為]你的作為力挺我。 [其實是]你的作為冒犯我。

解析:看到back up很容易馬上想成撐腰、支持,但其實to get/put somebody’s back up是一句俚語,意思是『惹某人生氣了』。

例句:My mentor yelled at me without any reason,which reaIly put my back up.

(我的前輩無端對我又吼又叫的,真令人光火。)

世界公民文化中心獨家授權

撰文者湯名潔

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I always agree with my boss

#我認我無聊 #人前人後 #口嗰句vs心嗰句 #提防影射認明真身 #IAlwaysAgreeWithMyBoss


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拉開褲鏈: Get it done with

1 : GS(14)@2011-09-06 22:19:55

http://hk.apple.nextmedia.com/te ... 376&art_id=15583771
Peter與 Mary是同事,各自在公司外都有伴侶,但閒時在公司內,他們都會有說笑般的調情話,例如:「若然你沒有男朋友,我一定追你」或「我雖然有男朋友,但最想嫁的卻是你」等等。因為他們的無忌諱,同事們看在眼內,通常只一笑置之或間中揶揄一番,逗得他們都很享受這種不用太負責任的調情樂趣。未幾, Peter與女友分了手,眾同事也知曉,因為大家關係好,下班後不時增加 happy hour局或 K局來幫 Peter散心。這類局多了,互相的感情更好,同事們亦因而得知 Mary與男友正鬧得不快,推波助瀾情節便展開。局照約,但眾人藉口離開的時間越多,好讓這對癡男怨女有更多單對單相聚機會。
....
2 : Wilbur(1931)@2011-09-06 22:58:41

"Get it done with"?

我見識少,聽都未聽過...
3 : GS(14)@2011-09-06 23:01:37

即是點?
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葡國雞.香港樓.瘋CY Lunch with 貿發局新主席 羅康瑞

1 : GS(14)@2015-11-02 00:52:38

2015-10-25 iM

與羅康瑞快要吃完一頓豐富中式午餐,最後一道炒飯也上了,他笑着問:「是否要來一杯咖啡,我知傳媒這行最需要這東西,哈……。我也要來一杯Cappuccino吧。」結果這段咖啡時光,才是這頓飯談得最精采之處,他暢談子女經、中港樓市、也談特首選舉。

這位上海姑爺新上任貿發局主席4個多月,相約記者到會展旁的王朝會中菜廳吃飯,他笑稱短短數個月已出差三趟,工作量超其所想,連孫女也無時間見面。

香港會展早聞名海外,Booking天天爆滿,不愁生意,靜極思變,羅康瑞說貿發局未來工作大計,是要把握今天人人也掛在口邊的「一帶一路」機遇。「我兩年前開始時聽也一頭霧水」,65個國家,44億人口,全世界30%GDP,數字實在大得不能具體化,但兩年過後,他認為以貿發局在全球數十個辦事處的人力物力,加上香港的獨特優勢,可成為全球一帶一路的超級聯繫人。羅康瑞形容,往這些較落後國家地區發掘機會,情況就如30年前香港廠家到珠三角,希望年輕人能好好把握。

子女經 讓兒女闖天下

羅康瑞的名字讓人熟悉,絕對與上海新天地的「超級成功」掛鈎,今天他常將這成功故事掛在嘴邊,來勉勵年輕人走出去闖。「我1985年去上海,當時公司很細,但就是肯去闖,便有機會,到最後有了新天地,我想給希望、給機會年輕人。」

提到年輕人,育有一對子女的羅康瑞,便有點恨鐵不成鋼,「年輕人留在香港是無出路的,你看零售旅遊業一旦停下來,失業率將會上升,到時燒到埋身,拮到肉便知痛。香港經濟停滯,手停口停,唔到你唔去其他方呀。」

他有一對已成長的子女,但一直低調,至近日32歲女兒羅寶瑜(Stephanie)才首度以瑞房(00272)旗下中國新天地執董身份出來開記者會。「同佢講數才肯出來呢。」羅康瑞的女兒一直在美國讀書,熱愛藝術,在美國從事建築設計工作近10年,後來決定回流。

說起這個有性格女兒,羅康瑞便笑不攏嘴,「她不似其他富二代,好低調,由細到大也愛出賣我。以前行街見到記者她會立即彈開,有次在美國她的同事見雜誌有我的相,問女兒是否認識雜誌中來自香港的Lo,她竟然答:『唔識』,你話幾離譜!唔認老竇還夠膽話俾我知,哈……。」

這位唔認老竇的女兒,現在已成為父親集團旗下一名得力助手,至於在美國大學畢業的幼子,又是另一個故事,新一代年輕人想靠自己創業不靠父蔭。

兒子畢業後,羅康瑞跟他說一是找份工一是創業,最後兒子選擇後者返港創業。「他說要開茶餐廳,好難做的,預了失敗,但我專登比佢捱吓。他一腳踢,會自己端茶給客人。」原來兒子最初想做開特許經營餐館,但發現很難競爭,後來想起嫲嫲一道令人一吃傾心的葡國雞,便想以此招牌菜開茶餐廳。不過羅康瑞評兒子至今仍做不到嫲嫲葡國雞的味道精髓。

至於創業的資金則是爸爸借的,「我借錢給他是簽合約,要還本付息,我老竇當年也是這樣待我,借6萬蚊比我咋,最後當然有還啦!」

談樓市 內房有排發展

羅康瑞到內地發展房地產多年,「房地產未來幾年也會好,因內地經濟要保七,一定要靠地產作支柱。」

他指內地房地產仍未完成發展,「香港這麼小也發展了50、60年,內地除了深圳、上海及北京的樓較貴,全國三綫城市仍便宜。即使新天地6、7萬一平方米,其實與香港屯門價差不多。」

不過作為半個地頭蟲,也有失手之時,瑞安發展重慶的經驗,便是很好給港人借鑑的例子。「我要坦白承認重慶我們做得不夠好,因為城市太大了,82,400平方公里3,400萬人口,我自己沒有經驗做咁大的城市,市長黃奇帆同我講,要在重慶市做14個中心,14個中心我如何做呢?我們港人習慣只有一個中環嘛,唉,概念完全不同。」

還是他熟悉的上海他最推許,他說過去幾年上海市政府不斷進行綠化,拆屋建公園,又搬走了很多工廠,「環境好舒服,好過北京好多」。她女兒從美國回來,最後也是選擇在上海買房子安頓下來,「她也搵了年多,睇來睇去,最後也是在新天地買了一層細細地既二手樓。」

港樓調整趨勢繼續

至於香港樓,他很肯定說:「現在已開始調整啦,這個趨勢會繼續。」今天香港樓價之高,他說自己也大跌眼鏡,「唉香港樓價咁高,根本是想像不到,袁天凡賣樓呎價達15萬,怎可想像?樓價動輒幾萬元一呎,一間2,500呎的樓已經要一億元,年輕人呢世人根本無可能買樓!」

他分析港樓價高亦不外乎無土地供應,但需求又咁大,「特首話有地,講就容易,點攞呢?」他直指地產商投地亦不會壓低價,「因為香港地產是寡頭壟斷,地產商不會比你啲價落,佢哋土地儲備那麼多,托住這個價便不用擔心。」

談特首 要選就早點出來

午飯那天一片藍天,落地玻璃外是工人忙碌興建中的灣仔,香港看來永遠充滿活力,但羅康瑞卻邊呷咖啡邊歎了好幾口氣,說擔心香港前景。「今天政治新聞真的不想看,最慘是看不到出路,我是好擔心好困擾,也知道好難搞。」

飯局的結尾,怎也避不了特首選舉這熱門話題。問羅康瑞還會如2012年般全力支持梁振英選特首嗎?羅立即耍晒手說不答這問題,但說到特首選舉,還是忍不住分析局勢,認為有意角逐的人選,要早一點出來,「因香港今天分裂得厲害,要多做工作。」

席間有提起近日頻頻曝光的前財政司長梁錦松會否是熱門人選,羅康瑞一聽便說:「佢咁聰明,無理由做!特首是癲的人才夠膽做吧,CY是癲了才做的!哈哈……」
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