The 28th annual general meeting of the Permata Rubber Estate, Ltd., was held at the offices of Messrs Beck Swann, 17 The Bund yesterday. Mr. J. Frost presided, supported by Messrs W. J. Monk, L. E. Canning directors and Mr. Lloyd Bland representing the Secretaries, while shares present and represented totalled 47,279.
The chairman in his speech said:
A comparison with the accounts for 1937 shows a considerable change in the figures under all headings which is accounted for by the serious drop in the value of the Chinese Dollar.
In addition to this we have had a much lower quota to work on which has resulted in decreased returns from the sale of our rubber.
Our standard production for 1939 is mentioned in the report as 129,400 Ibs. but we have since received advices from our Agents that this has been raised to 130,700 Ibs.
The output of rubber for the year ending October 31, 1938 was 91,177 Ibs, against 115,187 Ibs. for 1937, being a decrease of approximately 21 per cent.
Profit Shown We closed our accounts with a profit of $9403.16 which together with $4884.94 brought forward from last year gives us a total of $14,288.10 at the credit of Profit and loss account.
From this we are proposing to pay a dividend of 3 cents per share, which will be put forward as a special resolution.
In connection with the auditors' fees you are probably aware that most of their work is done Comi it Comm, de Southern Cord.)
Text read from the printed page and cleaned; old type leaves the occasional error.