The tenth annual general meeting of the Sungei Duri_ Rubber Estate, Ld., was held on Thursday afternoon at the office of the Secretarics and General Managers, No, 2 Kiukiang Road, Mr. Hugo Reiss presiding.
In the course of his speech, the Chairman said The result of the year's working may be regarded as very satis: factory, the improvement at Selama Estate being especially noticeable. The crop there exceeded the estimate by 64,000 Ib., this improved yield resulting in a duction in' producing cost in spite
estate supplies. The output at of generally increased" prices of Sungei Duri Estate was short of the estimate and less than that for the previous year, this being attributable to certain labour difficulties and exceptional weather conditions during a part of the year. Costs are somewhat increased, the heavy loss on rice supplied to the labour force accounting for a considerable portion of this increase.
The "all-in" cost of the production of both estates was 10.17d. per Ib., which will compare favourably with the results attained on any estate in the country.
The profit for the year amounted to Tls, 57,902.31 and as far as the result of the year's working is concerned the payment of a final dividend would be amply justified. Conditions during recent months have, however, become so unfavourable that the Directors cannot recommend it, and they feel sure that the shareholders will agree with them that the present is no time to make any distribution of cash funds, whi should a further fall in the price of rubber take place, might be required for the upkeep of the properties. If an improvement takes place and the outlook for the future becomes clearer, the Directors will give every consideration to the payment of an interim dividend for the current year.
The Company has given its support to a scheme for the reduction of outputs by 25 per cent. up to the end of 1920 and it would appear probable that this reduction will be continued for at least a portion of the year 1921. Stocks in all centres are rapidly accumulating and unless and until they are bronchi down to reasonable amounts little
Text read from the printed page and cleaned; old type leaves the occasional error.