'A. profit of $16,010.01, as against a raft of $24,741.67 last year, was reported by Mr. A. J. Welch, Chairman of The Batu Anam (Johore) Rubber Estates, Ltd, at the annual general meeting of shareholders held on Tuesday, Mar, 31, at the otices of the general managers, Messrs. J. A. Wattie & Ca., Ltd. 93 Canton Road. "Following the Chairman's report a resolution was Passed whereby a dividend of one China dollar cent per share be paid. The chairman was supported by Messrs, L, E. Canning, Swann, H. Kadoorie, directors, Mr.
Shackleton, secretary, and a representation of 540,520. shares, The Chairman's report in full was follows:
The report and statement of ec-Jeounts having been in your hands for [some time, 1 will, with your permis sion, follow the usual course and tal them as read.
The result of the year's working is profit of $16,910.01, a5 against prompt of $94,741.07 last year; the! Feduetion is attributable partly to the reduced output restriction scheme and partly to the average price realized for our rubber being slightly lower. The output for the year amounted to 410,800 Ibs. as} against 420,500 Ibs. last year, Weather conditions were more favourable, and the reduction in the output was" in order to keep within the allowed Export quota. The standard produc. tion for 1936 has been assessed at 602,913 Ibs, as against $85,993 lbs. for 1935. As indicated in my speech last year, a considerable sum was expend-buildings, and consequently although profits would permit of a higher dividend than recommended, the cash position does not warrant it.
The financial position of tha company a5 on December 31, 1935, showed that the liquid assets exceeded the cash liabilities by Chi, $20,427, As regards the estate there was no change in the planted area, but por-mission to replant six acres previously cut "out was not tained and coconuts were the {aler on. planted instead. These will supply gardens {s satisfactory and all rough @rowths have been eradicated. The older gardens, as is usual with all other rubber of a similar age in the Straits, continues to slowly but surely retrogress. An application has been ut in to plant up a further 100 acres out of the reserve jungle.
Text read from the printed page and cleaned; old type leaves the occasional error.