The Two Sisters of Borneo by Ian Hamilton Read Free Book Online

parents and gradually by Ah-Pei. They all worked seven days a week, twenty-four hours a day — you know the kind of people I’m talking about. Ah-Pei never married; the business was her entire life. The two sons did marry, and then immediately became more concerned about keeping their wives happy than spending time at the company.
    “As the business grew, it obviously became more complicated, and Ah-Pei and the parents decided that Chi-Tze, the youngest daughter, needed to get the education to help them deal with it. They sent her off to Melbourne, where she got a bachelor’s degree with a major in business. She did so well in Australia that they sent her to the U.S. to get an MBA , and that’s where she met Amanda.
    “The parents died a few years ago. The four children inherited the business in equal parts. By then Chi-Tze had graduated and was working alongside her sister. Tambi and Mamat were doing what they always did: as little as possible for as much money as possible. Ah-Pei was used to it, and truthfully she seems a little old-fashioned about how she views her relationship with the male members of her family. But Chi-Tze wasn’t as tolerant. She decided she wanted to take the brothers right out of the business, and with her sister’s tepid approval she contacted her colleagues from business school to see if anyone would have an interest in making an investment. Amanda was on the list.”
    “What form did our investment take?”
    “It was two-tiered. Amanda assessed the business to have a net value of just over sixty million U.S. dollars. I thought her numbers were, if anything, a little low, and I have to tell you I was pleased by her conservative approach. So we made an offer of twenty-five million for half the business, structuring the deal to buy out the brothers’ shares with fifteen million, with the other ten million to be put in as working capital. So really we were offering fifteen million to buy half of a business we had assessed at sixty million.
    “We assumed, of course, that the brothers would dicker with their sisters and that the women would come back to us with counter-offers, but that never happened. Amanda said she thought they were that desperate to get rid of Mamat and Tambi, and that the brothers were as desperate to get their hands on ready cash.”
    “On the surface it sounds like a good deal for us.”
    “Doesn’t it.”
    “So what’s gone wrong?”
    “A customer in the Netherlands.”
    “One customer?”
    “Yes, but the biggest by a mile, and in hindsight far too big for the health of the business.”
    “What’s the problem with them?”
    “They’ve declared bankruptcy,” May said.
    Ava, almost unaware, had finished her coffee. She felt the urge for another and looked for the waiter. He was standing to one side, his attention on their table. Everyone working in the hotel knew who May Ling was, and by now they had come to know Ava as well. Ava pointed to her cup. He nodded and then looked at May Ling. She sighed. “What the hell,” she said, and signalled for another martini.
    “How much do they owe?” asked Ava.
    “We invoiced them for close to thirty million dollars. It cost us twenty million to make the products, so if we got that back we could break even. But as far as I’m concerned, we’re out of pocket the full thirty,” May said abruptly.
    Ava sat back, startled. “How did that happen? I mean, why would they extend themselves that much? Weren’t there at least letters of credit?”
    “That’s what I’ve spent the last week piecing together, and that’s why I think the two brothers are fucking us over, either on their own or in partnership with the Dutch.”
    “How did they do that? I thought you had taken them out of the business.”
    “Some of this is supposition on my part, but let me tell you what I know and then you can tell me what you think.”
    The server arrived with their drinks and fussed over the table. As he did, Ava ran the numbers