Mr, EH, T, Byrne presided at the seventh annual general meeting of shareholders in-the Senawang Rubber Estates Ca, (1921), Ld., there aho being present Mr. A. K. Crs dock, Mr, A, J. Welch (directors) and other shareholders, represent ing altogether 78,695 shares. 'The notice convening the meeting and the auditors' report were read, The Chairman The result of the year's workin 1 think, may be considered satis-factor takes into con. that the average price received for our product was tically 1s, Od. per Th, or, say, just over 36 por cent, less than during the previous year. It is, there. fore, gratifying that certain kavour~ able factors, such as an increase in the output of 156,800 Th., a reduction of a half-penny per Ib. in the cost. of production and a difference in favour of 10 points in the average rate of exchange ruling throughout the year, have enabled tus to recommend the payment of a jond of 55 cents per share, only just over 15 per cent, than we paid lust year.
Capital expenditure during the year totalled THs, 2427236. As re ds the financial position of the if you pass the recom nuendlations now made by your directors, the -company will carry forward to the now year a surplus of liquid assets amounting to Tls. 47,940.49, which should be sufficient: to' sce us through any emergency that may arise.
The 1th annual ordi Ko meeting of the End Estates: Tal, was held at its head office 7 Ningpo Road, on Saturday. There were shareholders present representing 20,264 shar The meeting presided over by] Mr. H. M. Cumi who was supported by Messrs. P. L. Bojesen, K, Greaves and 'A. " Malcolm, directors.
The chairman outlined the position of the Company for the preceding year saying that as the report the full account of the Compans's affaire there left very little for him to say. He referred to the good conditions in which the Company's Properties had been kept said that on account of the political eri there was a sign of nervousness. at present in the way of investment on mortgages which made it difficult to} secure new loans.
Profit for the year under review! was Ths, 19,496.64 exclusive of what] was brought over from the preced: ing year which was dealt with as} proposed in the report.
The Chairman then took the opportunity to express the Company's appreciation and gratitude for the] timely despatch of the British] troops here whose presence had: made this city safe to live in.
Resolutions for adoption of the report and accounts and election of} upon the motion of the chairman.
Text read from the printed page and cleaned; old type leaves the occasional error.