The 13th annual general meeting of the Kapayang Rubber Estates Ca., Ld., was held last Friday at the offices of the secretaries, No. 36 Peking Road, Mr, E. T. Byrne presiding, supported by Mr. G. D. Courts (director) and Mr. R. N. Swann (secretary) and an' attendance representing 6,450 shares.
The notice convening the meeting having been read, the Chairman said in part:—I am sure you must be as gratified as we are at the result of the year's working, which shows a profit of Ts. 2,133.67, a splendid result when we consider the low prices of rubber during 1921 and I think an even lower working cost may be anticipated during 1922, so that we can face the future with a large amount of confidence, knowing that in the fight for existence we are equipped with working costs much lower than the average.
I need hardly say these excellent results are largely due to the man on the spot and on your behalf I have to congratulate our manager, Mr. Knott, as well as Messrs. Barker & Ca., our agents, both of whom fully realize the importance of still further reducing expenses.
The estate has been kept in perfect condition throughout the year, and is amply supplied with labour.
Our costs, which averaged 58.73. cents in 1920, were reduced to 26.90 cents in 1921, and in January this year were 23.41 cents; Mr. Knott hopes, however, to reduce this still further, which will be very satisfactory.
Text read from the printed page and cleaned; old type leaves the occasional error.