Chen da wen
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Title: Chen da wen

Essay Details:

Subject: Business
Author: Heather S
Date: June 30, 2014
Grade: B
Length: 2 / 325

Essay text:

“Ottawa”, he was told a very important piece of information Some merchants in Bombay want to set up a bank in HK called “China Royal Bank”. They have raised 2/3 to ? of equity capital, and will send a special envoy to HK to raise the balance equity funding from local companies That night, Thomas Sutherland wrote a business plan to set up a bank in HK He believed that if the Indian merchants had such a plan, he should act quickly to do so ahead of them In HK there are enough insurance companies and trading houses that would support his proposal The business plan he wrote was still kept by HSBC today In that proposal he suggested to raise equity capital of HKD5,000,000 He gave the plan to a lawyer for review the next day The lawyer was very enthusiastic because he saw the opportunity to earn commission of HKD10,000 The lawyer sold his plan to all major companies in HK (except Jardine) and asked them to be members of a preparatory committee With the help of his lawyer friend, he raised the requisite capital within one week – in fact there was over subscription

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