Our estimates for the year were based on an output of 378,000 1b, being 60 per cent. of the standard production of 455,000 Ib. (re-assessed at! 445,680 Ib.) but owing to a reduction of the restriction allowance to 55 per cent. for August and September the total export permited was only 263,160 Ib. against the provious year's' figure of 291,654 Ib, The total production was 278,831 1b, against $13,060 Ib,, resulting in a slight increase in the cost which Jeount" which T shall refer to more. particularly later, Dividend of 15 per cent.
The amount available for distribution is Tls. 48,882.68 of which Tis, 16,223.82 is the balance brought forward from the previous year and Tle, 32,609.36 is the nett profit for the year under review, and your Jdirectors recommend that Tls. 32,- 818.50 be distributed in dividend representing 15 per cent. on the paid up capital of the company and nce of Tis, 16,014.18 be carried forward to the new account.
The dividend will be financed partly by cash in Shanghai which has been augmented by a remit. tance from Penang since the accounts were closed and partly by the sale of debentures in which the surplus funds of the company were temporarily invested.
The Wilkinson Process to which reference is made in the report the name given to a process for the manufacture of rubber goods direct from latex invented by Mr. Bernard on, an estate assistant, who bboen in the service of the company since March, 1921, Tt is a for the conversion of rub-mats, wall, floor and roof coverings and products of similar nature, Mr. Wilkinson evolved this ides entirely unassisted and great ered is due to him for the ability, ingenuity and perseverance he has displayed in bringing his experiments t> a successful cor directors were impr possibilities of the invention and readily consented to pay the initial expenses and the cost of registering the patent which has been registered of applied for in Great Britain, [the Straits Settlements, Malaya, India, Ceylon, Holland, Dutch Indies and other rubber producing countries, in return for which Mr. Wile Kinson gave the company a 35 per cent. interest in the patent rights of the process which is represented {n the balance sheet under the heading "Wilkinson Process proprietary account Ths. 1,500."
Business was begun in a small way as soon as the necessary arrangements could be made and this financed by money advanced by the Company which appears in the balance sheet as "Wilkinson process loan account" Tls. 4,095.17.
Witkinson Process Manufacture The articles at prevent being mmanutactured are crepe soles, suite Tinings, mats and oer' coverings and the application of the process many other articles Is occupying'the close attention of the Tu. venter, he. working, of the process it at a very elementary stage but with a decrease in the average sell. ie'has attracted considerable Inter: ing price is the principal cause of the smaller profit shown in the working account. You will have noticed also that a larger amount has been umber of inquiries for sluice lin-written off for depreciation and a ings, mats, crepe sole material, ete. Proportion of the charges on the are being received. Only a small Nowland Division has been debited Proportion of any order which may to working account for the firat time, come forward can be dealt with by.
portion of Nowlands has been Ayer Tawah Estate where at pre-actually tapped but as the mature sent manufacture is being confined area has been taken into consider to sluice linings, it being intended tion in the assessment of standard that the remainder of the demand Production the cost of maintaining will be met by supplying the chemi-that area can be no longer charged cal mixtures to a number of estates to development account. 5 jand permitting them to manufae-Exchange was also against us, 70 ture and sell the goods on a royalty being taken for book purposes and has 67 for cash items at September 30, Mr. Wilkinson has for some against 75 last year for both. The months been relieved of all or istment of dollar and tael lary estate work and devotes his balances necessitated a debit in pro-time entirely to the prepare of fit and loss account of Tls. 4,691.17 {the mixtures; visiting and advis against a credit of Tls, 880.38 last estate managers in regard to mantis year..' Interest was less by Tis. facture and obtaining orders for 524.74 due to the realizing of cer-materials. For the present it is tain temporary investments. 'Turn-intended to push sales locally and ing. now to the balance sheet, New-later when the process has become Lauds Development account' is. in-better known and more experience creased by Tls. 10,179.63 while the has been gained in manufacture to other fixed assets are reduced by Ts, devote special attention to exports. 1,200. Investments ure reduced by|I may mention that rubber'used in the, gale, of Tls::18,000-of Municipal the: manufacture -of articles made
Text read from the printed page and cleaned; old type leaves the occasional error.