BIKAM RUBBER ESTATE
REPLANTING RESUMED THE CHAIRMAN'S ADDRESS
THE thirtieth ordinary general meeting of the Bikam Rubber Estate, Limited, was held on Friday, May roth, at 19 Fenchurch Street, London, E.0 Mr. H. Eric Miller (the chairman) said that their estates continued to be well reported on by their visiting agents, and the special cultiva- don measure's were being continued. Last year they utilised rights to new Minting granted the company 'under the International Regu- lation Agreement to the extent of 322 acres.. That left the company with rights for 310 acres in hand. All of those would- be used this year: A- year ago he said that in view of the new planting being under- taken-further- replanting had been deferred, but the board had been reconsidering that question, and replanting would be resumed. If the Bikam Company was to maintain its earning and dividend paying capacity, it behoved it to start replanting its older areas before the time came when even up-to-date cultivation was incapable of prevent- ing declining yields. It should not be forgotten that replanting was a less expensive process than new planting, nor should it be over- looked that ev&ry acre of soundly replanted rubber should ultimately be worth more than two acres of old rubber from a dividend earning
point of...vieyv. . .
They were able to pay the shareholders a reasonable dividend of .71 per cent., and at the Same time 'increase the reserve for cultivation and replacement to £35,000 . by an appropriation of £9,081 vas. 6d.
Out of the 5940 crop they had sold to date, including rubber still to be delivered against forward contracts, 1,908,480 lb. at an average price of roid. per lb., London terms. They must budget for some reduction in the second half of the year in the exportable release under the International Rubber Regulation Agreement, but it was not unreasonable to assume that they should for 194o be able to account for a larger crop than for 5939. As was inevitable under war con- ditions, many items affecting their costs had risen and might rise further from causes quite outside their control.
The report was adopted.
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