As regards the future, T cannot say more than that present indications are that" business is being. maintained, With litre or no maier development Of Teal estate in progress we cannot, course, expect to, secure. sanitary ud heating Installation contracts. the magnitude of those obtained. bast years, however, im spite of very evere competition we. are receiving 2 very fair proportion of the smaller Wworkon' offer. In addition. we may xpeet especially' at the present time Shien some reconstruction work is ginning, satisfactory revenue from the workshop to be taken, over from bur subsidiary company. This work: Shop is equipped with up-to-date machinery and san lake caro. of all Kinds "of machine. work "and "gear Cutting. With experienced men under foreign supervision. we are. in a Position for manufacture mechanical okern, voiiers and. tanks, iron and trots castings and steel structural work and undertake electric and gas Welding Jobs. A further great. ad Vanlage. is our ability thus' to keep {o'an absolute. minimtim any" eublet-{ing of contracts" onthe sanitary, heating and-ait conditioning branch of our business. This is as moh in the interests of ouF customers es in Before concluding my remarks 1 am sure you will wish me to express both "your own and. the Board's ap-Breciation of the loyally and devotion tov dity of Mr. Goodman, and. his aft both foreign sind. Chinese vhich has. carried them very erediabiy through a year of considerable. alf cults The Resolution rectors' report and ae. year 1003 as. submitted trid they' are hereby. fecelved sand" adopted, "and" that the Esianeo at creat of Bron and In Act st's sccommended by the Blrectorss= fortin Lite and news. be and they are' hereby Bppointed ators of te Company unt Kapayang Rubber Estate "Shanghai, Mar. 22.
The fact that a. small output was responsible for a large reduction in the company's profits during the year was reported at the annual general meeting of the Kapayang Rubber Estates Ca, Ltd, held in the offices
Text read from the printed page and cleaned; old type leaves the occasional error.