The fifth annual general, aneeting of shareholders in the Sungala Rubber Estate Ld., was held at the rooms of the Royal Asiatic Society on July 27, Mr. Cecil Holliday presiding In the course of his speech, the Chairman said Last year at this meeting I had to deplore the fact that the' company not only had "not made a profit during the year ending March 31, 1919, but had actually incurred a small loss. This year I have the pleasanter task of reporting a moderate profit and this in spite of exchange having gone against us more than ever. If you examine the accounts you will see that a main factor in the comparatively. satisfactory result attained has been the extreme economy which has characterized the running of the estate. The esti nated output for the year was 130,000 Ib. and the actual output 133,452. so that we have got back to the old position of the actual exceeding the estimated output. This year the estimate is 140,000 1b. but as this is as much as can be hoped for. frou the estate in its present state of development you must not be disappointed if it is not reach-
In view of the present state of exchange which is peeularly favourable for the turning of taels into Sin; dollars your directors have cided ta issue the new capital authorized at the extraordinary meeting on July 5, 1916, and the necessary notices were sent to shareholders under date June 15.
1920, There were no questions, and the formal resolutions were adopted.
Text read from the printed page and cleaned; old type leaves the occasional error.