An adjustment in fees, whereby 60 per cent. of the former tael fee is to be considered the Straits share and the remaining 40 per cent the Shanghai share, of which half is to be paid by in local currency and half in sterling at a certain. rate, was agreed to by shareholders at the annual meeting of the Sungei Rubber Estate, Ltd., held at 11.45 a.m, yesterday at 20 Canton Road.
"Mr. W. Mellor, chairman, was supported by Messrs, E. E. Parsons and A. J. Welch and shares present or represented totalled 6,850.—The chairman's report for the year was as follows:—Before proceeding with the ordinary business of the meeting, the directors take this opportunity of placing on record their deep regret in the loss sustained through the death of the chairman of the company, Mr. W. B. O. Middleton, whose business ability and good advice in connection with matters relative to the company has always been of the greatest assistance to his fellow directors.
The total producing'area of the estate is 1,133 acres, consisting of 676 acres of old mature rubber and 457 acres of rubber planted during 1926/27. This shows a reduction from the previous year of 68 acres which were felled for replanting during January of this year. The non-producing area of 62.7 acres consists of 26.79 acres replanted in 1936 and 35.91 replanted in 1997, and there is also 50.5 acres of land which has been felled for experimental planting; this area will be planted during the present autumn and it is anticipated it will give rise to a very satisfactory stand of rubber.
Your directors have also decided io take advantage of permission to plant new areas and 65.6 acres, the total permitted under the regulations are being felled preparatory to having this planted up during 1939. The Yeplantings commenced during 1936- 37 are reported on most favourably by the visiting agent; the trees in the earlier planting are now branching which should lead to satisfactory girth development from now on.
Text read from the printed page and cleaned; old type leaves the occasional error.