COMPANY MEETING
BEKOH CONSOLIDATED RUBBER ESTATES
SATISFACTORY CROP Tur. Forty-Second Annual General. Meeting of Bekoh Consolidated Rubber Estates Limited was held on October 10 in London, Mr. A. A. Estall (Chairman) presiding.
The following is an extract from his circulated Review
The Accounts for the year ended March 31, 1962, show a profit of £67,785 before taxation and pro- vision for replanting and upkeep of immature areas. This is £3,567 greater than that for the preceding year and, bearing in mind the much lower prices realised for the crop, is most satisfactory. It will be noticed that cost of production is also less than for the previous year despite the larger crop harvested. Taxation is provided for in the sum of £18,749 as compared with £17,865 last year. During. The year we spent on replanting and upkeep of immature areas, less Malayan Government grants, £22,499, which was some £7,602 more than" in the previous year. In re- assessing the amount of reserve to upkeep ifie present immature areas until maturity, it was found that the reserve of £40,000 would be inadequate on the present castings, and it was, therefore, deemed ad- visable to increase this provision by a further £10,000.
An interim dividend of 21% less Income Tax was declared and paid on May 21, 1962, and your Board now recommend a final dividend of 7i% less Income Tax, making a total distribution for the year of 10c1,, absorbing £21,384, and to carry forward to Profit & Loss Account the balance of £35,554.
During the year a crop of 2,689,500 lbs. was harvested, against an estimate of 2,592,000 lbs. which is indeed satisfactory. For the current year, to March 31, 1963, we have estimated for a total of 2,743,000 lbs., and to the end of August 1,018,500 lbs. have been harvested. It is confidently expected that our estimate will be attained. The replanting programme is proceeding as planned. The report and accounts were adopted.
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