Who would have thought, in the 1940s, remnants of the 19th century still existed!
The North Borneo Company!
A company owning a colonial territory, where the company's word is law, it's everything.
And now, the predicament of the North Borneo Company presented Li Yi'an with an opportunity. Seizing this opportunity could turn the company into his own.
But... could this opportunity be seized?
For a moment, Li Yi'an's brows furrowed, and his expression became somewhat solemn.
Such a heaven-sent opportunity, if missed, would be a great pity. Moreover, acquiring it is easy, but keeping it is difficult!
"Sir, your judgment on this company is undoubtedly correct. At present, selling the company is the best choice for the North Borneo Company's directors. However, as your lawyer, my advice is that you should not acquire it. After all, who knows whether the British government will reclaim the company's land and other assets after the war."
As Royal Counsel Ian Sopp, he couldn't understand why anyone would be interested in a company destined to disappear from history. But as a lawyer, he still advised.
"Then, do they have the authority to do so?"
Li Yi'an asked, facing the thousand-pound Royal Counsel before him. To acquire the North Borneo Company, such people were indispensable. He needed someone to handle many affairs.
"This..."
Ian Sopp thought for a moment, then shook his head.
Legally speaking, the British government doesn't have the authority to reclaim North Borneo's land and assets. After all, North Borneo was purchased by British merchants, led by Deng Te, in 1880 as shares of an American company. Even though it obtained a royal charter in 1881, it couldn't change the fact that it was a private company. Borneo is the company's territory. However, they do have the power to revoke its royal charter. After revoking the charter, Britain will not provide it with defense and diplomatic protection, meaning it will be exposed to all nations."
Such a windfall!
Li Yi'an almost wanted to laugh out loud. He had been most worried that Britain had the right to reclaim colonies. That was the biggest problem. Unexpectedly, there was an unexpected gain.
"Exposed? That's not a problem, as long as they don't have the power to reclaim the company. By the way, do they have the power to prevent me from acquiring the company?"
Facing his client's question, Ian Sopp, who had received colonial clients more than once, spoke with a very arrogant tone.
"Sir, this is London, not a colony. Britain is a country that emphasizes the rule of law. No one has the right to prevent you from acquiring any business, and the North Borneo Company is just a business, excluding the company's owners."
Then, he looked at a report in front of him and added.
"The North Borneo Company's board of directors currently consists of five directors. According to company law, as long as two directors agree among the five, a proposal can be passed. In fact, the five members of the board together only control forty-eight percent of the company's total shares. The remaining fifty-two percent of the shares are held by more than 5,300 shareholders of all sizes scattered throughout Britain. Among these people, quite a few seem to be married women or widows. After all, many people bought and sold stocks before World War I, and most of them died in the war. There is no doubt that after the Japanese occupied North Borneo, the company's securities were practically worthless, and even needed to pay debt interest."
As Royal Counsel Ian Sopp, although he couldn't understand why anyone would be interested in a company destined to disappear from history, he still advised.
"So, sir, I don't think now is the time to acquire it. If you are determined to acquire the company, you can wait until next year, when they receive another notice to pay bond interest. I believe that by then, they will be eager to transfer the shares to you for nothing, after all, everyone knows..."
Folding the documents together, Ian Sopp adjusted his black-framed glasses and said.
"Britain's post-war colonies will inevitably move towards autonomy, and colonial companies will certainly not be able to continue operating. Their stocks are naturally worthless. Before the war, its stock price was eighteen shillings per share, but now it's only one shilling and three pence per share. It will be even lower next year."
Leaning forward in his chair, resting his elbows on the desk, Ian Sop said, "But we certainly won't purchase it at this price. If you haven't changed your mind by next year, I can help you realize your wish at a very low price."
...
A very low price?
How low, Li Yianan wasn't sure, but he quickly went to see White directly. He inherited 9% of the company's shares from his father and, as a member of the board of directors, although not the largest shareholder, he was one of the top five shareholders. Having worked for the company for many years, White was very aware of the current situation of North Borneo Company.
The current situation was... North Borneo Company was finished!
For decades, White had maintained a very decent life through dividends. But after the outbreak of war, not only did he have to pay 99.5% personal income tax, it was also always late. After the Japanese occupied North Borneo Company, there was nothing left, and on top of that, everyone had to pay interest according to the law. As a shareholder, he was also in great pain.
At this moment, he was sizing up the Chinese man in front of him. When he was young, as deputy manager of the company, he had lived in North Borneo and Singapore for more than twenty years. He was not unfamiliar with Chinese people.
"So, you're interested in my shares."
Li Yianan's lips curled up slightly as he spoke.
"Mr. White, I'm here to help you out of trouble."
As he spoke, he took a good luck cigarette from the gold cigarette case, handed it to White, lit it with a lighter, took a puff, and looked at her.
"Interest, how should I put it? In this world, businessmen are always interested in profits, but no businessman is interested in losing money. It's well known, including colonial ministers, that at least after the war, the colonies will be granted autonomy, which also means that North Borneo Company is likely to cease operations after the war."
His words had just fallen when White casually glanced at him and took a puff of tobacco.
"Mr. Li, what you're saying won't happen. How could the company cease operations? After the war, the company will reclaim everything."
"Reclaim everything? Reclaim what?"
Li Yianan gave a cold smile and mocked, "Reclaim a pile of ruins?"