NOVPUB
Chapter 741: Chapter 643 Loan meeting, spectators turn into actors (seek subscriptions!)_1
November 1st.
Myanmar.
Yangon.
Inside the Main Conference Room.
It’s currently 8:15 in the morning.
Ling has not arrived yet, he is on his way.
However, all the other attendees have arrived early, flipping through the documents in their hands and pondering how to persuade Ling to agree to increase the collateral limit for this loan.
They have also considered another plan.
That is, if Ling disagrees, they could make up for it themselves.
But this idea was immediately suppressed by Lang Cai.
Lang Cai’s intention was simple - if Ling covers half and you guys are still overspending that much, if Ling’s ’half’ is changed to ’the rest covered by Myanmar’, who knows what wicked ideas this group might come up with.
Re-initiating the proposal for a loan of 210 billion RMB is even likely.
So Lang Cai decisively vetoed this plan.
You want to increase it?
Sure.
Go convince Ling.
Otherwise, there’s no room for negotiation.
Hence.
These people have been trying to figure out a way to coax Ling into offering more collateral. Some of those tasked with this assignment are even sweating cold bullets, their legs trembling slightly--not from cold or heat, but from fear.
Ling has a frightfully clear logic when speaking.
Negotiating with such a person, if you are not capable, you might have to give in after a few words. They considered themselves capable, but it depended on who they were dealing with. Against Lang Cai they were not intimidated, but against Ling, they were psychologically shadowed.
Lang Cai sat quietly at the head, sipping tea.
He didn’t care about what was going on below. After all, it’s you guys wanting to overspend. You need to pay the price. He would not agree to increase Myanmar’s debt out of nowhere, it’s better to let Ling handle it.
Lang Cai suddenly felt like he was in for an interesting show.
He wanted to see how Ling will respond later.
Thinking about this, Lang Cai’s interest was piqued.
Half past eight.
"I’m sorry, I’m late." Ling walked into the conference room on time.
Whizz...
All eyes turned towards him.
Ling wasn’t phased by the attention. Walking to his seat with a secretary, he simply sat down and stared at Lang Cai, waiting for him to announce the start of the meeting.
Lang Cai lost no time in saying, "Alright, since everyone is here, let’s officially start the meeting about the loan from Huaxia. Deputy Leader Ling, have you decided on the collateral?"
"It’s all set. All related documents and evaluation reports are ready." Ling nodded in acknowledgment.
"That’s good. However, Deputy Leader Ling, we’ve experienced a small change in our circumstances. Quite a few people feel that the loan amount you proposed is a bit low. Thus, they’d like to increase it a bit, mainly considering that it might expedite the achievement of Myanmar’s planned goals." Lang Cai gently broached the subject with a smile.
Ling frowned and said seriously, "The economic plans I set previously are all in accordance with Myanmar’s current debt capacity. If we exceed that, even though we might achieve our goals faster, Myanmar’s ability to repay the debt might come into question."
Lang Cai didn’t respond.
He turned his gaze to Kundun below, signaling that it was his turn.
Kundun rallied his spirits and immediately said with a smile, "Deputy Leader Ling, don’t worry about that. Although the debt has increased a bit, it’s not too difficult. You must know, although Myanmar is an agricultural country, it is rich in minerals and has a large population.
As long as the internal market is activated and access to external markets opened, increases in taxes by multiples or even more aren’t impossible. Worst case scenario, we can use the minerals as collateral for debt repayment, just like we would with a mine-clearing vehicle.
We are a proud nation, how could we possibly be unable to repay interest? The only issue now, is how much your collateral is valued at. Didn’t you say earlier that you would provide half?"
"I did say that, do you mean no matter how much you propose as the loan amount, I should provide half?" Ling retorted, his tone mixed with amusement.
After a glance at Lang Cai, Kundun gritted his teeth and said, "Yes, we just don’t know how much the collateral you have prepared for this time is worth." In order to speak for the interests of the people behind him, he had to stand up.
Ling replied directly: "The collateral I have prepared this time is valued at 65 billion RMB, including two gold mines, the only oilfield in the Myanmar Economic Zone, fruit wine, and taxation."
"What, just these few?"
These words were not spoken by Kundun, but they were the thoughts of the people behind him.
They were somewhat dumbfounded.
What’s going on?
They thought Ling was going to present some ’exciting’ assets, possibly some kind of desperate sale of possessions. But only four pieces of collateral add up to 65 billion RMB.
Thinking about the collateral they’d painstakingly cobbled together.
They wanted to weep.
They suddenly felt very poor.
After the surprise, Kundun curiously asked, "Deputy Leader Ling, how much are they valued at? Will Huaxia acknowledge this?"
"The two gold mines are valued at 10 billion, the oilfield at 5 billion, all according to international pricing which Huaxia will surely recognize. The taxation in Myanmar Economic Zone is assessed at 15 billion for a mortgage term of ten years. As for the fruit wine, I value it at 35 billion RMB." Ling explained.
The initial internal valuation for the tax revenue was 13 billion as Su Yu had said, but that was increased by 2 billion after knowing this side’s total quote. After all, these are nominal figures. Given the economic report from Myanmar’s Economic Zone recently, this price is not inflated.
After listening.
