At the annual general meeting of the Shanghai Seremban Rubber Eytate, held on, Tuesday the man si The Report and Accounts have been in your hands for some time and T will, as customary, with your permission, take them as read, The profit earned for the year amounted to Tls. 91,481.26, which]
trust has been found satisfactory, Adding the amount Tls. 8,181.35 carried forward from last year, the total is Tls,-99,662.61, out of which an Interim' dividend of seven can Jdareens per share was paid on September 10, 1926, absorbing Tls. 22,760.00, leaving a divisible balance of' Tis, 76,912.61, which your Dir-ceters recommend be dealt with stated in the report, and which will put in the form of a resolution later on. Your Directors recommend that the Reserve Account be increased by the sum of Tls. 15,000, Last year you were asked to con: sent to the sum of Tis, 25,000 being placed to Reserve, the equivalent to be invested in British Government stock; this was done by the purchase Jof Straits Settlement War Loan Bonds of a par value of St. $32,000) which cost with brokerage $33,605. 75, the equivalent, at time of purchase of about Tls. 25,850. Owing to' 'a much higher rate of Exchange ruling at the end of the year compared with that at date of purchase, they now stand in the books at the value of Tis, 31,925.46, One of the appropriations, which T shall ask you Inter on to pass, the writing off at the recom tion of your Auditors of Tis, 1,525, 46, this is to bring the value of the securities down to their par value of Straits $32,000 or in other word: writing off the premium and br' kerage paid.
If you past the appropriations now recommended the Company will start the financial year with surplus of liquid assets o ties of Ts, 63,504.13, wh be sufficient to meet' any difficulty that is likely to arise.
As usual the Report is so fully detailed that there.remains very little for me to remark upon.
The estate is in good condition, trees healthy, and carrying good foliage.
The standard production has been Increased by 20,000 Ibs, and there should be no difficulty in harvest-the full exportable crop allowed, Mr. Pinching, technical advisor to the Penang agents, fon December 9, anid the opportunity: of expressing our appreciation of the satisfactory manner in which the estate manager, Mr. Gilchrist, has looked after the welfare of your property, and to the agents, Messrs. Kennedy, -Burkill Ca, Lid., for their close attention tw all matiers rzarding the Estate That is all T have to say, but before putting ths resolutions to the inetngs shall be please to answer to the best Df my ability any questions you may wish to ask.
Text read from the printed page and cleaned; old type leaves the occasional error.