The annual general meeting of the Tanah Merah Estates (1916)
La, was held on Tuerday in the offices of the secretaries and managers, Messrs. A. R. Burkill & Son. Mr, A. W. Burkill presided and was supported by Messrs. E. T. Byrne, W. R. Burkill, and Chun Birtx-him (directors), and shareholders who represented 211,524 shares, The chairman said:—
The profit for the year amounted to Tis, 219,613.60 as against Tis.
when it is considered that the average exportable allowance for the Company's financial year was only 59 per cent. as against 90 per ent. the previous year, and the average nett price realized 211d. per Ib, lower, the result cannot be regarded as unsatisfactory. A factor which contributed to the Company's earnings during the year was the under-production in previous years. As you will see from the report, the shortage of some 175,000 Ib, at the end of last year has now been wiped off, and the ex-Port and sale during the year of rubber under unused coupons was instrumental in keeping the cost of production down to the very satisfactory figure of 870d. per Ib.
As may be seen from the balance sheet, the Company is in a very sound financial position, practically the whole of the profit and loss account being represented in cash. In view. of the decision to lift restriction at the" end of October next, and the consequent necessity to conserve funds to tide us over the anticipated period of depression, I trust shareholders will endorse the directors' recommendations as to the appropriation of the distributable balance as shown in the report before you. If you pass "these remendations, the reserve account will then stand at Tls. 150,000, buildings at Tis, 50,000, and furniture, stock, machinery, ete, at a nominal figure of Tis, 100 each.
Text read from the printed page and cleaned; old type leaves the occasional error.