The annual meeting of the Shanghai Malay Rubber Estates Ltd., was held yesterday afternoon at 93 Canton Road. Mr. A. J. Welch presided, supported by Messrs R. N. Swann, L. E Canning and H. Kadoorie directors. Holders of 37,786 shares were represented at the meeting.
The chairman in his speech saic The Working for the year has resulted in a profit of Ch.$187,945.52 as compared with a profit of Eh. $101,740.91 last year. This very satisfactory result is attributable to the fact that the output of rubber was 180,278 lbs. larger than in the previous year and the average net price realized for our product was 131 pence per pound higher whilst the expenditure on Revenue Account was practically the same in both years.
The capital expenditure during the year amounted to Ch.$2,370.17 of which $2,195.84 were spent on the replanting and upkeep of the 4 acres of Immature Rubber on Good-heart Estate and the 2 acres of young Rubber on Chengai Estate.
Text read from the printed page and cleaned; old type leaves the occasional error.