Shape The sixth annual general meeting of the Shanghai Kedah Plantations, La, was held last Friday the' oftces of the secretaries and general managers, Messrs. A. R. Burkill & Sons, Mr. A. W. Burkill residing: The chairman was supported by Messrs. G. M. W. Hummed and E. B, Parsons (directors) and Mr. C.J, Smith, who represented the secretaries and general managers, There was an attendance representing 81,204 shares, The chairman said:—
Gentlemen,—The report and accounts having been in your hands for some time, Iwill, with your permission, follow the usual course] and take them as read.
Daring the year the producing area has been increased " by 180 acres, 61 acres on Paya Kamunting fand 119 acres on Riverside having been brought into tapping. On Pa Kamunting an area of 114 was cleared and during the current year it is proposed to clear and plant up a further 120 acres, At the Fast annual meeting of the company you were informed. that arrangeents for the taking over of 202 seres at Riverside which had. been let to a Chinese contractor for! tapioca planting had been completed and Tam glad to soy that we were fortunate in being able to cancel the tapioca contract by a cash payment of Str. 817,285," Considering the expense in felling and clearing the jungle and planting with young rubther trees, the payment of Str. $66 er acre" as compensation to the! Chinese Contractor for foregoing! the planting of a further crop of tapioca has been a very sound investment. Our visiting agent reports that he wes very favourably—impressed with the general growth and appearance of the new clearing and was surprised to sce 90 little lallang after the tapioca, in fact it was only hhere and there that small sporadic patches were to be seen, When all the extensions which T. have just enumerated are ecinpleted, the total planted area of our estates will be 118 acron. On an issued capital 300,000 this works out at a font of approximately Tls. 165 per planted acre oF, at present exchange, less than £20 por acre.
Generally speaking, the estates! sare in excellent order and pleasing to report thet the properties continue to be comparatively free from disease or pest, Occasionally' eases of trees affected with Foot disease are found and these receive jeany attention. The labour position has considerably "improved and recruits from India are still coming in. The health of the force on the whole was very satisfactory.
The accounts are presented the usual form and call for lift comment. The result of the yea working, I think you will agree, is very. satisfactory indeed and the Jexcellent showing is due ina great measure to the higher exportable allowance for "the period under review and the consequent substantial reduction of 1.254. per Ib. in the "all-in" cost of production, The average price received from the sale of our crop was 1s. 9.844, which practically the same as last year, The year's working shows a profit lof Tls. 184,730.45 approximately 61 por cent, on the present Capital. Two interim dividends of 10 and 15 per cent. were paid during the year and T will later propose the payment of a final dividend of 20 tael cents per share making a total of 45 per cent, for the year. It is also proposed to place a further sum of Tls. 20,000 to general reserve, account, bringing this account up to Tls. 35,000, to pay a bonus of Tls. 3,000 to estate managers and staff and to write off assets Ts, 16,349.12, leaving a balance of Tls. 15,904.73 to be carried forward to next year's Tt is with extreme regret_that I have to report the death from motor ear accident last April of Mr. N. F. Symes, manager of Riverside Estate. Mr.' Symes who had been in charge of Riverside for many, tious manager and suns shaves) held in the company ida ($20), (excluding the 33
the footing that the same be pot fe-and distributed la each but be ner aforesaid. been connected with the estate for many years as assistant has now been placed in charge and his management is very well reported pon.
Before concluding I would like to express the board's appreciation of the good work done by the estate staffs as well as those of our Penang agents and visiting agents for the Rood care of our properties, That is all I have to say, gentlemen: if any shareholder has any Jquestions to ask, T shall be pleased to answer to the best of my ability.
There were no questions so the allowing resolutions were proposed, seconded and carried unanimonsly:—Proposed by Mr. A. W. Burkill land seconded by Mr. G. INW. Hummel—That the report "and accounts for the year ended Septemer 80, 1926, as presented be accept-
Proposed by Mr. A, W. Burkill and seconded by Mr. E. E, Parsons—That the fellowing recommendation as to the appropriation of the balance at credit of profit and loss recount, as presented, be accepted:
Font. for the. Year) "r++ 60,000.00 are (makin 7
Bisco to. general reserve 30,000.00 Pay bonus to. estate manairers 8000.00 Write "off "development cmt ite of bull oft welts 2116.06
Write of fi nies Carry forward node Ts, 11528986
Proposed by Mr. H. J. Davie and seconded by Mr, Chun " Keo-wal—That the appointment of Mr. A. W. Burkill as a director of the company be confirmed, Proposed by Mr. E, E, Parsons and seconded by Mr. E. A. Prince—'That Me. GIN. W. Hummel be re-elected a' director 6f the company.
Proposed by Mr. H. J, Clark and sctorled by Mr, Chun' Koo-wai—Thee Messrs. Lowe, Bingham Matthews be re-elected auditors to the company.
This concluded the busi of the! necting.
Text read from the printed page and cleaned; old type leaves the occasional error.