REPORT OF THE BOARD OF DIRECTORS
for
THE YEAR ENDED 31ST DECEMBER 1954
for
PRESENTATION TO THE SHAREHOLDERS
at the
TWENTY-SEVENTH ORDINARY ANNUAL MEETING
to be held at the
COMPANY'S OFFICES
Jordan Road Ferry Pier
Kowloon
ON SATURDAY, 2ND APRIL, 1955.
at 12.00 noon.
GENTLEMEN,
The Directors have pleasure in presenting their Report and audited Statement of Accounts for the Year ended 31st December, 1954.
The net profit for the Year amounts to...
to which must be added:-
-
Pre-war provisions no longer required, now written back...
Amount brought forward
An Interim Dividend of $3.00 (net) per share on 336,000 shares was declared on 1st October, 1954, absorbing
and your Directors now make the following further recommendations:
To pay Final Dividends :-
On 7,500 Preferential Shares $5.50 (net) per share... On 328,500 Ordinary Shares $5.00 (net) per share...
41,250.00
1,642,500.00
To Transfer to Typhoon and Accident Fund
To Transfer to Reserve for New Construction
To Transfer to Taxation and Contingencies Reserve
To Transfer to Leasehold Properties Sinking Fund To Carry Forward
$ 5,508,545.24
3,052.11
349,868.31
$ 5,861,465.66
$ 1,008,000.00
1,683,750.00
$ 2,691,750.00
1,000,000.00
1,000,000.00
600,000.00
200,000.00
369,715.66
$ 5,861,465.66
DIRECTORS:
In accordance with the Articles of Association, all the Ordinary Directors now retire and being eligible offer themselves for re-election.
AUDITORS:
The Accounts have been audited by Messrs. Martin & Co., who offer themselves for re-election.
Hongkong, 3rd March, 1955.
RAAN COUNCIL PUBLIC LIBRARIES
Reference Library. Ciry Han
T. N. CHAU
CHAIRMAN.