Originally translated from the Thai language.
“Is there any other way out?” Li Ming asked, his voice stern, his face a mask of cold resolve.
Lu Rong’s lip curled into a subtle smirk. “Given the urgency, the only way to save this project is an immediate capital injection... before everything grinds to a halt and our investments vanish into thin air.”
The gaze piercing through his spectacles toward Li Ming held a glint of predatory hope the hope of finally crushing this man under his heel. “And if we fail to repay the VCC group by the deadline, the total debt including accrued interest will trigger a cross-default clause. Every financial institution worldwide will recall our loans immediately.”
Lu Rong tilted his chin up slightly, a fleeting, triumphant smile playing on his lips. “CK Group will be forced into an immediate, full-scale debt accelerated payment. Our credit rating will inevitably plummet to Junk Bond status.”
Li Ming locked eyes with Lu Rong. It was a trap, set from the very beginning. Lu Rong had maneuvered him into signing with VCC under the guise of financial stability, but it had turned out to be a noose one that threatened to end the legacy of a titan in just a few short weeks.
“And what are their terms?” Li Ming countered.
Lu Rong suppressed the grin spreading across his face, answering in a chillingly smooth tone. “A Debt-to-Equity Swap. VCC will have the right to convert the entire debt into common shares at a price well below market value granting them unconditional seats on the CK Group Board of Directors.”
An immediate uproar erupted. The faces of several board members turned pale; they knew all too well that this was opening the gates for an outsider to seize the company.
Chairman Li Ming clenched his fists, his blood boiling with suppressed fury. He had fallen headfirst into the CFO’s trap, with no visible exit.
It had been Lu Rong’s endgame from the start.
“I will take this under advisement for the next session,” Li Ming cut the meeting short, amidst the panic of the board.
Lu Rong gave a mocking bow before returning to his seat, but his gaze remained fixed on the Chairman with a dark intensity. “Chairman... before we break, permit me to ask about one more thing a rumor that has been circulating quite heavily.”
Li Ming remained silent, his eyes cold.
“I hear... that a major investor from Thailand is joining us as a strategic partner for the Hydrogen project?” Lu Rong asked, his eyes narrowing behind his glasses as if searching for a crack in the Chairman’s facade.
Li Ming met his gaze with a razor-sharp stare, a cryptic smirk touching his lips.