The factory and a fair number of the other buildings will need to be replaced during the next few years but endeavours will be made to so arrange the work that it will not form too heavy a charge in the resources of the company in any one year, The factory will be modernized during the current year which should result in improving the quality of our product and reducing the cost of manufacture, Speaking generally the estate is in first class condition and capable of producing far more rubber than is permitted by the present Export Quota.
From the accounts of the Shanghai Company you will have seen that the Interest earned and the Trans-for fees received were slightly in excess of. he whole Shanghai Expenditure, On December 31, 1937 the Liquid Assets of the Java and Shanghai Companies combined exceeded
Text read from the printed page and cleaned; old type leaves the occasional error.