We have also carried out considerable redevelopment on Hanbury Road Estate, Psoshan Estate, Chusan Road Estate and Dixwell Road Estate, No, 31 Peking Road is now being! modernized suda new wing to the south side added. We are also building two new foreign houses, both of which are already booked, fon a small portion of the Zang Pang Estate which was lying vacant and unproductive. In this connexion, I should like to say that it isnot the policy of your Directors to continue to build large foreign houses from which it is difficult to get a satisfactory return,
Text read from the printed page and cleaned; old type leaves the occasional error.