The Secret Realm of Time, His and Her Life Through the Changes

Chapter 204 A Company with a Bad Record

Shang Yibo snapped out of his reverie and said, "Yes, go on."

Zhou Yanruo continued, "Besides funding issues, the reason for the work stoppage is that the environmental impact assessment procedures have not been resolved. Thai law places great emphasis on environmental protection, and of all the procedures, obtaining the environmental impact assessment is the most complex and time-consuming."

Shang Yibo asked, puzzled, "These things should be handled by the project company in Bangkok. There should be dedicated personnel to handle them. Wouldn't it be easy to just apply according to the relevant local regulations? What's so difficult about that?"

“We don’t have enough resources overseas,” Zhou Yanruo explained. “When we signed the contract, the middleman, Ma Anhua, was a member of the Chinese Chamber of Commerce and promised to take care of all the preliminary procedures. He was willing to take on everything, and we also felt that it would be easier to have a local person in charge.”

Zhou Yanruo said, "As a result, we spent the money, but the other party not only failed to get things done, but also shirked responsibility in various ways. This led us to start construction blindly without obtaining environmental impact assessment certification. Now we have been investigated and punished by the local government, and we have not only been ordered to stop construction, but will also face huge fines."

"How could this happen? This is clearly a problem with our management," Shang Yibo said, frowning.

“That’s right, there was definitely a management problem. The person in charge of the Chao Phraya River project was a local Chinese we recruited locally, and he was recommended by Ma Anhua. At the time, we thought that the person he recommended would be better able to cooperate with the work, so we agreed without much thought,” Zhou Yanruo explained.

Shang Yibo roughly understood the problem, and he suddenly asked, "So, what were the considerations behind agreeing to Rongchang Capital's involvement in this project?"

Zhou Yanruo paused for a second before realizing that Shang Yibo was asking about Rongchang Capital's involvement. A look of disdain flashed in her eyes as she said, "Rongchang Capital is just here to take advantage of the situation."

Shang Yibo looked up at Zhou Yanruo, trying to find the answer on her face, "Why do you say that?"

Zhou Yanruo stood up, paced around the room a couple of times, and explained earnestly, “In Thailand, we are considered foreign investors. According to local laws, foreign companies can only hold 49% of the shares, so local companies need to hold 51% of the shares on our behalf.”

Shang Yibo couldn't help but ask, "Was this local company also recommended by Ma Anhua?"

“It wasn’t his recommendation; that company belongs to Ma Anhua,” Zhou Yanruo replied.

"So, Rushang Group is fully funded, but Ma Anhua's company holds 51% of the shares?" Shang Yibo pressed.

“Yes, it’s a nominee shareholding.” Zhou Yanruo nodded in confirmation.

Shang Yibo subconsciously sensed something was wrong. "Sorry for interrupting you. Please continue."

Zhou Yanruo continued, "We don't have enough say in this project, and the current situation doesn't allow us to directly break ties with Ma Anhua..."

Through Zhou Yanruo's narration, Shang Yibo quickly sketched out the main outline of the Chao Phraya River project in his mind.

Rongchang Capital is headquartered in Singapore, and its main investment business is concentrated in Southeast Asia. They have not only deep connections and resources in Southeast Asia, but also extensive connections.

When they first made contact, Rushang Group's idea was to establish a strategic partnership with Rongchang Capital, leveraging their influence in Southeast Asia to curb Ma Anhua and others. Ultimately, they hoped the project could proceed smoothly and the investment could be recouped as soon as possible. As Chu Fanqing often said, "We are businessmen, just pursuing profits. Compliance and compliance are our duty; there's no need for fighting."

However, Rongchang Capital's ideas were completely different from those of Rushang Group. They wanted to take advantage of Rushang Group's unfavorable situation to not only acquire the 51% stake held by Ma Anhua on behalf of others, but also to covet the remaining 49% stake in Rushang Group.

Given the current state of this project, it's impossible to offer a good price. However, Rongchang Capital seized the opportunity to propose an acquisition, offering an ridiculously low price—practically the absolute bottom line.

When Zhou Yanruo sensed something was amiss, she investigated Rongchang Capital and discovered that the company's investment methods were utterly despicable. Many businesses in Southeast Asia and even in second- and third-tier cities in China, after introducing Rongchang Capital and signing performance-based agreements, ultimately suffered predatory acquisitions by Rongchang Capital. These businesses were broken up and sold off, leading to the bankruptcy of their owners, while Rongchang Capital profited immensely and expanded even further. In short, Rongchang Capital is a company with a notorious track record in the investment world.

Zhou Yanruo reported the investigation results to Chu Fanqing, but at that time, Rushang Group's projects in China also encountered problems, with a severe cash flow shortage and the pressure of repaying two loans. Although she knew that Rongchang Capital had ill intentions, she was helpless.

Given Rongchang Capital's influence in Southeast Asia, once they get involved in this project, no other company will have the opportunity to get involved. Moreover, it will be difficult to find other partners in the short term.

Under these circumstances, Chu Fanqing had no choice but to bite the bullet and continue cooperating with Rongchang Capital, hoping to recover his investment costs. However, this was highly unlikely, and the most optimistic estimate was that he could only recover 70% of his investment, which would be considered a stroke of luck.

"This is one way to solve the problem. If there's no better solution, I think this is the only option," Shang Yibo said.

“You make it sound so easy, but the losses are considerable,” Zhou Yanruo replied.

"The business world is like a battlefield. At critical moments, cutting losses is as decisive as a warrior cutting off his own arm. My dad has that kind of courage," Shang Yibo explained.

Despite saying that, he was indignant. "When did Jian Zheng learn to play these tricks? He's always so cheerful and indifferent to everything. How could he suddenly transform into someone who's only after profit and will stop at nothing? How is that possible?"

At the door, accompanied by the beeping sound of the combination lock, the door slowly opened. Zhou Yanruo got up upon hearing the sound, stepped into the entryway, and saw that Zhou Zihang had returned.

"Zihang? Why are you back at this time? Didn't you say the lab was at a critical moment and couldn't be left unattended?" Zhou Yanruo asked in surprise.

"Ruo Ruo, are you alright?" Zhou Zihang asked anxiously as he entered the room and saw Zhou Yanruo. "Why is your phone off? I called your office, and your secretary said you went home. You never come home during work hours. Are you feeling unwell? There are just irresponsible people spreading nonsense online. Don't take it to heart."

Zhou Yanruo smiled faintly and shook her head. "What could possibly be wrong with me? Why did you come back early?"

Zhou Zihang said reproachfully, "With such a big thing happening to you, how could I possibly take care of the lab?"

At this moment, Shang Yibo also came over. When he saw Zhou Zihang, he said half-jokingly, "Oh, our great doctor is back."

Zhou Zihang then noticed Shang Yibo standing next to Zhou Yanruo, and was furious. He shouted at Shang Yibo, "It's all your fault! It's all your fault!"

His face instantly turned ashen, clearly he was truly enraged.

Seeing this, Zhou Yanruo quickly stepped forward and tugged at Zhou Zihang's arm, gently comforting him, "Zihang, don't worry, why are you acting like a child?" Her gaze kept glancing at Shang Yibo, "This matter has nothing to do with Yibo. Those past events, whether they are brought up or not, are already in the past. Besides, this is something that malicious people are doing on purpose, using my affairs to smear Yibo. I've dragged him down."

Zhou Zihang was taken aback, as if Zhou Yanruo's words made some sense. He lowered his head, remained silent for a while, and then slowly raised his head, his gaze falling on Shang Yibo again, but this time the anger in his eyes had subsided considerably.

"Since Ruoruo doesn't mind, I won't blame you." Zhou Zihang said in a low voice, with a hint of apology in his tone. He then turned to Zhou Yanruo and said, "I acted impulsively just now. I'm glad you're alright."

Shang Yibo smiled and shook his head, indicating that he didn't mind.

"Alright, why are we discussing this while standing at the door?" Zhou Yanruo didn't want to dwell on this issue any longer.