The next morning, Lin Baicheng paid a visit to Standard Chartered Bank to meet with Ho Yiu-wah.
Ho personally set aside his work to greet him. Over the past few months, several foreign companies had wired more than sixty million U.S. dollars into the accounts of Galaxy Games. Ho wasn't entirely sure how much profit Lin had made, but by his estimation, at least twenty percent. That meant Lin Baicheng's fortune had swelled by tens of millions of Hong Kong dollars from these transactions alone.
One thing was clear to Ho — Galaxy Games' arcade business was immensely profitable. Lin's success wasn't mere luck; his ventures were steady and lucrative. At this rate, Ho thought, this young entrepreneur might very well become one of Hong Kong's new tycoons in the near future.
"Mr. Lin!" Ho greeted warmly.
"Mr. Ho!" Lin returned the courtesy. The two exchanged a few polite words before Lin got straight to the point.
"Mr. Ho," he began, "I'd like to ask — what is Standard Chartered's attitude toward Chinese capital acquiring British-owned companies?"
He spoke calmly, but the intent behind the question was clear. Lin wanted to acquire Wharf Holdings — yet the funds he currently held were far from sufficient. He would need bank loans to make it possible. But Hong Kong was not like other markets, especially now, in this tense period leading up to the handover. He needed to understand the stance of the British banks before making his move.
Ho's brows lifted slightly. "Mr. Lin, are you planning to acquire a company?"
Lin nodded without denying it.
Ho paused, thinking carefully before he spoke. "Mr. Lin, as you know, Standard Chartered's headquarters are in London. Our main focus is on international markets, which means the Hong Kong branch doesn't always receive top priority. That's one reason our local business presence isn't as strong as HSBC's."
He hesitated a moment, then continued, "To be frank, if the bank weren't so internationally oriented, I wouldn't even be sitting in this chair — British or not."
He smiled faintly before adding, "Take someone like Shen Chow at HSBC. Despite having a Chinese name, he's as British as they come — a white man through and through. Many of the so-called 'local faces' in the British institutions are like that."
Ho's tone turned more serious. "Now, most of the British consortia operating here have extensive assets not only in Hong Kong but also in the U.K. and other Western countries. Many of them maintain close partnerships with Standard Chartered. So, if it ever came to a dispute between local Chinese interests and British enterprises, the bank would almost certainly stand on the British side."
He looked at Lin and sighed. "You see, Mr. Lin, there are some matters even I can't control. The final say belongs to the board in London."
He paused, then added with sincerity, "Personally, I admire what you've accomplished. I'd like to be on good terms with you. But if you're planning to acquire a British-owned firm, and that firm's backers turn to us for financial assistance, there's a good chance Standard Chartered will support them. And there's nothing I can do to change that."
Lin nodded slightly. "Thank you, Mr. Ho. I appreciate your honesty."
Though a little disappointed, Lin could sense Ho's goodwill. And goodwill, in Hong Kong's financial world, was always worth keeping. A friendship with the head of Standard Chartered's Hong Kong operations was valuable, even if the bank couldn't back him this time.
Ho smiled. "You're too polite, Mr. Lin. Tell me — did you come here seeking financing, or do you want the bank to help you purchase shares in a company?"
"Actually, both," Lin admitted. "But from what you've said, it seems I'll have to find another way."
Still, he wasn't worried. There were always other channels — foreign banks, private financiers, or even strategic alliances. And if all else failed, he could abandon the acquisition entirely, drive Wharf's stock price up, and cash out for a quick profit. Either way, he wouldn't lose.
Since there was no risk of loss, there was no need for anxiety. The only reason he wanted a loan was to seize control of Wharf — to make even more money.
"If the loan amount isn't too large," Ho said after a pause, "I still have the authority to approve it personally. As for helping with acquisitions, that's possible — as long as the company in question isn't publicly listed."
"I'll trouble you for that another time then, Mr. Ho," Lin said with a polite smile.
Seeing that there was little hope of securing significant funding from Standard Chartered, Lin didn't press the matter further. A small loan wouldn't be enough to change the outcome anyway.
He didn't linger at the bank. After a short chat, Lin thanked Ho for his time and left.
Outside, the city was already awake — stock tickers flashing, telephones ringing. The market would not pause simply because Lin was short on cash; trading continued as usual, with or without him.
Following Lin's orders, An Yuan instructed their traders to continue buying Wharf shares through Baisheng Securities. There was no need to hide anymore, nor to worry about the mysterious third-party buyer. The only rule was simple: buy steadily, without driving the price up too sharply.
That day, Baisheng acquired a significant block of Wharf shares — but at a cost. Their presence could no longer be concealed. The rival buyer had noticed them. Though they didn't yet know who was competing, they now knew someone was.
As both sides quietly accumulated shares, the trading volume of Wharf Holdings spiked noticeably. Any experienced investor could tell that capital was flowing in. The only question now was — were smart investors buying in, expecting a rally, or were trapped funds trying to unload their positions at a higher price?
Meanwhile, across town, in the headquarters of Cheung Kong Industries, another man was following the same trail of numbers.
Just as Lin had suspected, the mysterious buyer was Li Ka-shing himself.
Li had long set his eyes on British-controlled firms, knowing that many of Hong Kong's most profitable businesses were still in their hands. Initially, he had planned to target Hongkong Land, seeing immense potential in real estate. But recently, he discovered that Wharf Holdings was severely undervalued.
After moving its shipping operations, Wharf had freed up vast tracts of land — prime property in Tsim Sha Tsui, the very heart of Kowloon. That land alone was worth more than the company's entire market valuation. In Li's eyes, Wharf's true value should be at least three times its current price.
Excited by the revelation, he redirected his attention immediately. His team began investigating Wharf's share structure and soon made a key discovery: the company's ownership chain was weaker than it appeared. Jardine Matheson controlled Hongkong Land, and Hongkong Land controlled Wharf — but Hongkong Land itself owned less than 20% of Wharf's shares.
Even more interestingly, no other shareholder held more than 5%. The vast majority of Wharf's stock was scattered among retail investors.
That meant one thing: with enough capital, he could quietly accumulate shares beyond Hongkong Land's stake — becoming Wharf's largest shareholder without anyone noticing.
The realization thrilled him. Li Ka-shing ordered his people to begin discreetly buying Wharf shares on the open market.
But what he didn't expect was that, just one day after his campaign began, someone else had already stepped into the same arena.
Another force — silent, determined, and entirely unknown — was also buying Wharf.
And thus, without warning, the battle for Wharf had become a duel.