Chapter 230: Eagle Group's Sincerity
Su Zhixue's words did not surprise Tang Siu Kin. After all, secretly accumulating so many shares could only mean one thing: aiming for control over Kowloon Motor Bus. "Alright, I understand. I will convene a board meeting as soon as possible and officially announce the situation," Tang said calmly. At seventy-nine years old, he had no choice but to admit his age was catching up with him. Perhaps this was the right time for him to gradually step away from Kowloon Motor Bus, a company he had steered for nearly fifty years since its founding in 1933.
Especially after the Lui family shifted its focus to Kowloon Development, Tang had remained the de facto leader of Kowloon Motor Bus thanks to the continued trust of the founding families. After so long, he had long grown used to his role as chairman. Now, perhaps all he felt was a lingering attachment.
"Then I'll trouble you with this, Mr. Tang. Our boss will come by tomorrow to handle the transition of management. You will continue to serve as vice-chairman of Kowloon Motor Bus. I believe you are not yet ready for full retirement," Su Zhixue said with a smile.
These were Lin Haoran's instructions. After all, Tang's intimate knowledge of the company was invaluable, and it would be unwise to force him out suddenly. "Alright. After all, I am still one of Kowloon Motor Bus's important shareholders. I won't abandon the company," Tang replied, not rejecting the idea. To him, this was simply a new shareholder rising to power.
With their meeting concluded, Su Zhixue left the Kowloon Motor Bus headquarters in Lai Chi Kok, while Tang began contacting the company's major shareholders.
Meanwhile, at the headquarters of Kowloon Development on Nathan Road, two prominent figures of Hong Kong's business world sat in the chairman's office: Lui Che-woo and Lo Ying-shek of Eagle Group, accompanied by their heirs.
Earlier that day, Lo Ying-shek had tried to arrange a meeting with Lui, but Lui had been inspecting a construction site. It wasn't until the afternoon that they managed to set a meeting for 5:30 p.m.
Eagle Group, having started with industrial properties, had grown into a major real estate force. In the late 1970s, they were Hong Kong's largest supplier of industrial buildings. At the peak of the denim boom and with government policies forcing factories out of residential buildings, demand for small industrial units skyrocketed, and Eagle Group sold out its properties rapidly, accumulating vast wealth.
Though Kowloon Development wasn't as strong in real estate as Eagle Group, its overall strength was comparable.
Besides real estate, the Lui family also controlled a 22% stake in Kowloon Motor Bus and owned the third-largest cinema chain in Hong Kong, Lei Sing Cinemas.
"Mr. Lo, you want to buy our shares in Kowloon Motor Bus?" Lui Che-woo asked in surprise. Since Kowloon Motor Bus was founded in 1933, it had never changed hands — it remained under the founding families. Lui's father had co-founded it alongside Tang Siu Kin and others.
"Yes, Mr. Lui, and we're offering great sincerity. We are willing to purchase your shares at 30% above the market price," Lo Ying-shek said seriously.
He knew that with Kowloon Motor Bus's current soaring share price, a 30% premium might soon vanish if stock prices continued rising. Just that afternoon, he had noticed a surge of aggressive buying pushing the stock up another 6%.
Lo didn't know how much of the company was already controlled by rivals, but if he could secure Lui's 22% and combine it with Eagle Group's own shares, they could still take control.
His goal was to outmaneuver others by directly acquiring a major block of shares — a shortcut to domination.
"Mr. Lo, I'm sorry. I've never considered selling our stake in Kowloon Motor Bus. Our family also has no such plans," Lui Che-woo said, shaking his head.
Kowloon Motor Bus was part of their family heritage. While Lui might not focus much on the bus company nowadays, he couldn't simply abandon the legacy his father had helped build.
"Mr. Lui, I know Kowloon Development has long wanted to acquire the commercial land on Kwai Fook Road in Kwai Chung, but Eagle Group got there first. If you agree to sell your Kowloon Motor Bus shares to us, I'm willing to sell you that land at 20% below the current market price," Lo Ying-shek offered his trump card.
Since the construction of the Kwai Chung Container Terminal, the area had boomed, and Kowloon Development had heavily invested there. Securing that nearby piece of land would have allowed them to expand a key residential and commercial project.
Lo knew just how badly Kowloon Development wanted that land and was offering it as leverage.
Even at a 20% discount, Eagle Group would still profit handsomely — the land's value had already more than doubled since they bought it.
As expected, Lui Che-woo hesitated. In an era where money ruled, even cherished family assets could be reconsidered if the offer was sweet enough.
"Dad, I think this is a good deal. We don't really care about Kowloon Motor Bus. Selling the shares would free up more than a hundred million HKD and get us that prime land — it's a win-win," Lui's eldest son urged.
From a purely financial perspective, it was tempting. But Lui remained silent, deeply considering the broader implications.
Just then, the phone on his desk rang.
"Excuse me, I need to take this call," Lui said, walking over to answer.
"Hello, this is Lui Che-woo," he said into the receiver.
"Che-woo, this is Tang Siu Kin. I have something important to tell you," said the familiar voice of the chairman of Kowloon Motor Bus.
"Uncle Tang, please go ahead," Lui replied respectfully.
"Lin Haoran, the boss of Hongkong Electric, has secretly accumulated 36.83% of Kowloon Motor Bus. He's now the largest shareholder. Tomorrow at 10 a.m., we'll convene a board meeting. Please attend," Tang said.
"What? So sudden?" Lui blurted out in shock.
"I only just found out myself. His representative delivered the formal notice moments ago," Tang said bitterly.
The 36.83% stake spoke for itself — Lin Haoran now effectively controlled Kowloon Motor Bus.
It meant that the founding families had lost their grip.
"Is this confirmed?" Lui asked, almost not daring to believe it.
"I wish it weren't, but the notice bears the official company seal. Tomorrow they'll also notify the Securities and Futures Commission and the Stock Exchange," Tang said, then hung up, needing to inform the other founding families as well.
Lui remained holding the phone, stunned.
Although he had never been deeply attached to Kowloon Motor Bus, losing control still left a bitter taste.
After all, it was part of his family's legacy.
For a long minute, he simply stood there, lost in thought.
Finally, he returned to the sofa.
Everyone present could see something was wrong.
"Dad, what happened?" his eldest son asked.
"Kowloon Motor Bus has changed hands," Lui Che-woo said despondently.
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