WAH KIU YAT PO
日七廿月正年未丁磨夏
買二第張六第
+大部商行爲染在目的地舊生,但巧妙之禍实行亦常在水消 「發現貨品質少,有時貨品棹換,代以鏘攻石塊。根浦菂香精 情况下,貨品之包裝在外表上並損壞;象,但打開包裝之絕,則
在貨品運抵目的地時,向該公凼屬下之會員公開指出,且在 「校具吸引力籤之貨品,遺失黹彩液驾戒。此 賠償求通常係
將取点批,你
著千批貨物保在裝上橅染之前在廢船內被剁,越該公司灣麼
求裝等對解決此項問題予以協助。 意見與本實,業半盤班之後,始祖操以向有關當局正式接給,要 福會員,劉健太會盡可鷹接洽,本會對此甜滋向與件,須將所有
報 美國工廠工人平均工資
一宣傳將影哨木池,凡能根據經驗,證明 实事件係在本襠發生之
【
農業設備今年銷售估增一成
每週』一三點五美元
紐約證券即日快
中之出建築。根據'冗的許多倍,而到了百分之二十四。今 要爲了安特在碶谈 纈湖居爲八章近千萬 六六年首两醢月減少 運用,此外的選獄,因此,可能的放 汽京廠產枯,比一九
還使約八億三千萬类 由於一家粲行的代 一,鄭州俄州高於上則可作爲資歇之用。病,
已放寬的條例,此A 也會略詹然低。 美國旣 単阌經濟灬阬 依要求各銀行保冇作 發展-大部分係屬於 機械工具定單一月份退步 爲備之用,但目前 「炫」方面,它們
英國經濟上週之 一,一九六七年」
H 冗之銀行借備能自由,係另一銀行的祢 首兩個月,李國朗大
【得投司香港分行 億五千萬送元,过
期限
J怏電報導:紐約證券交易所 泛慣。 日(當地日期三月六日星期一 食道 物品投裏有限公司接获佻約朗,柯林斯佛爾 乚四·KO 三五七十八七五
開市價位仍續穩升
三十黨國至八百五十岚梯之数 今年篮总股仂可浄预算之資 之第三嬨一九六三年搁期之— 立頓工業
。在門市後命小時成交一首七一流的航空,
助力。又美國汽車,銷沚在二 康米玻璃 已種瓶超,一方面係由被府之被開懟氣 六)年十月低超後,迄有 適用 ,讓國房屋建設自去(一九六 阿影限 愛似光
道格拉斯飛蝼 石100
104-11M
八八二五
£4.00
摩托路 愆子】1二七五
十萬,保製萊浬 一八,00
六六十七五
衣將部份熱門股還開市價位列 河南安懋于 九盤,下跌股要三百四十五纸 史娤眾電子
●・六六。上漲股票过百六十 史密Ñ离路Ş 七六六10冠
洪萊定
【拜將阿
阿特萊失複印. 五四·三屯蚘德麥瑞發
10% KO
110-00
郭耳酒肜機 六芄,毛五
<0.00
仙立夫
些洛士快印 二六
五六七五
三三七五
六七五
THE VIBRO PILING AND INTERNATIONAL FOUNDATION COMPANY LIMITED
IS HEREBY | REPORT OF THE DIRECTORS-1966
NOTICE GIVEN that the Transfer Books and Register of Members of the Company will be closed from 13th March 1967 to 15th March 1967 both days inclusive.
By Order of the Board. T. Oeï Secretary.
Hongkong, 4th March, 1967.
NOTICE IS HEREBY GIVEN that the 82nd
*urposes:
Annual General Meeting of the Company will be held at 422, Prince's Building, Hong | Kong. on Monday, 24th April 1967 at 12.30 p.m. for the following 1. To
consider the Com- pany's Accounts and the reports of the Directors and the Auditors for the year ended 31st. Decem- ber, 1966.
To elect a Director.
appoint Auditors and determine their fees.
4. To transact any other
ordinary business. NOTICE IS ALSO GIVEN that.. the TRANSFER BOOKS and REGISTER OF MEMBERS of the Company will be closed from 19th
April 1967 to 24th April
1967 both days inclusive.
By Order of the Board,
T. Del Secretary. Hongkong 4th March, 1967.
NOTICE IS HEREBY GIVEN that an Extraor-
dinary General Meeting of
the Company will be held at 422, Prince's Building, on Monday, 24th April, 1967 at 12.40 p.m., or as wacom thereafter as the Ordinary General Meeting convened for the same date at 12.30 p.n: shall have been con- cluded, for the purpose of considering and if thought fit passing the following Resolution as Special Resolution.
2
RESOLVED that with effect · from the date of wan appropriately amended certificate of incorporation issued by the Registrar of Companies and to be annlied for immediately upon the passing of this resolution the name of the: Company be changed from "The Vibro Piling and International Foundation Company Limited" ta "Vibro (H.K.) Limited".
Order of the Board,
March, 1967.
GENERAL
1966 saw a continuation of the previous year's severe depression in the construction industry. Despite the basic strength of Vibro which enabled us to overcome the general conditions in the industry with considerable success during 1965 certain internal problems arose during 1966 which caused a temporary, setback. As was indicated in our 1965 Report measures had been taken by the middle. These measures. of the year to improve the situation. were effective and whilst your Board had at that time anticipated the possibility of a considerable loss in 1966 shareholders will see hereunder that in fact this was not
too severe.
ACCOUNTS
During the previous two year additions were made to Tour Reserve for Replacement of Plant Account by charge to the Working Account. This was discontinued after 31st December 1965. It is thought that, if the amounts set aside for this purpose ace rought within. the allocation of profits to a General Reserve Account varying each year with the profits of the company, the accounts will give a clearey picture of the results. Accordingly, a Generalty Reserve- Account has now been ereated and it is intended that this shall cover the requirements in respect of which we have had individual reserves in the past, ha heing so, the final balances on the Reserves for Replacement of Plant and for Contingencies have been transferred to the General Reserve in the 1966 accounts..
COPY OF
.:
LETTER TO
SHAREHOLDERS
"RIGHTS" ISSUE OF NEW SHARES TO SHARE. HOLDERS
Issue of 471,042 Shares of $3 each at a price of $4 per share payable in full, in the proportion of 1 New Share for every L issued share held on 15th March 1967
: Since the participation in the Company in early 1963 of The International Foundation Co., Ltd. with the simul- taneous Micrease in the company's paid up capital by $600,000 there has been a constant expansion and im• provement in the company
Four years ago Vibro was in a weak and uncompetitive condition, lacking the requisite resources in both personnel and equipment, As an instance, the latter comprised little more than six sets of piling equipment all of which were partially obsolescenta Had a regeneration not taken place, it is questionable whether the company would have been able to retain a place in construction work despite generally booming conditions in the trade.
With the injection of fresh capital and a substantial strengthening of personnel, a regeneration did came about; and, though setbacks have occurred, the company has continued to grow in size and strength. Not only has Vibrd survived the serious depression in the construction industry of the past two years: we have improved our competitive position and have also expanded and diversified our activities
A
非島新買盤來港稍豐 船隻少近期付出不多
再一十八萬九千四雲過法爲的榮,它佔至一月份的四十
外銷轉盛多頭有吸
以適當保護,防止分發下將繳付的款項詳談買家多車輛、收督城
期付崴脚買者受到物,如果物坐没有合理、證車及其
削
品貨量力引吸有具
日七月三年七六九一間公年六十五國民车中
竊失報常口出
譽信銷外响影
有求,意注員會促會總業工
助協局當關有請,徑途决解效
像日,在去年所赴之貨品,部份留以待復活節期之市領者,故爲節貨去鋪平淡之另一因素。
仍詩鑽,倘無疑的訊息。 致而定,可與好。所钔各代,大部份均鯤粮食品爲主,亦有部份乃爲復活節貨之補單。 近期港貨付詣米且活疆,其空因純係由於船隻關係,在最近數天並無船隻開卦菲島,撼眾在於本月十餅加了宿分之四十三。
優良加之
無濟經補書
而
的。 |械大量訂(經濟上四,一月份建築整),十一月只擔一 [ 汽車實狁畅,只限每年此時的總統份之新商公司联字 每七分戰中,即有脾,比三月份爲少,前 影响。據估計,美系 四月份淡貨的網料垛面,有下列的發鏧 | 百九十九届汽車工業 因大風塔而受的拼 变的揲支的減少, 「月份的带 各車汽芻造的「百六十三季節關
「殺對經濟起大的火,才使生靈加速,,至於光明的一方 一百五十七萬二千七 寬帶爲了彌補食 減少,可反映出第 大整治反,各朗茲歸,增加了一萬六千五
K金市冉冉上升
主的倒角。有的原因而没有照做的 他家庭用品等,對抵
寇的理管
去息一角收市爲二六四·七五 美鈔微順收市五七三·六二五
滅徽
四銅
時二工四二鰣
尚無變更訊( 轉別示,針織毛衫等
需要被煞賠償之目, 「表示打慢。該公會氣
武衲流岛内盜鞬损失而 從上保險公會,對各種
夜燈原顶如下:「谐
侧装有效之途
影响本浩有關信酇,
工角度,大黨推出若 各海上保險公司與好 35
一,常發生盜竊事件而致, 頗有相當,同時日益 此促請會員,以 工會之致全
爲此而付出之賠償月 ,便本對海上保險公司 |
干經由海途出口之產
年黨对重推出,今年復活節貨附訴之去就大防不說,保因慢地高溫市館力之港難。同時,復活節乃宗教之.1 貨物怙有失竊案件 人
復活節貨大致付竣,菲入口領事簽證措施 〔的我)菲律釘釘貨新架放近抵也稍逊,此等新單多以於众品食主。沿貨付菲近期則未基活路,但與船,比將營能少分之子大,造起連痍二、各營業設備,
·至於非典質政府對進口貨品须附有各當地储宴簽發入口蹬之批施,沉今仍宋間有所好動的訊息。強將攜月以來之最高水平,百星元,去年十二月 二、在反通俗) 二五開出頭盤,亦收市義關市举升亦為 (特)香港工業線 j年到目前止,四大公{士拿及美國汽車公司 百分之四點三,但鋼 時間亦由去年十二月 宣佈把已增之售價作 價醨定去一角後,二七三,六二,亦全 【愛,雖然到了四位|降至一百一十三點一是短缺。 【工人的平均每遭工資 產品,現在的供應日 共二萬二千一百一十四四美裼方面,比石油公全天之發低價,境高〇一式五。 只有-機殼變葑計,惟可能改期十二號對航。復活節實在校早期間已修告付遠,最後一對雄精實的星 助精運來的生宮傳說 非住宅建築。是要擴大生堂。數年前 三六五,與台三六五,九九自陳律 帶五七四,八七,開二度抵辦至四,需本邦工商部長林 條漫,例如我們老貝醬加 |的基屬於造業及,因爲美照的農民將 嘅,比上一週增加了汇,平均低的工作 司和太幽石油公司均報二六四,七五,塔內美郎開市五 效 會最近台因本港港口經 可用,福特, 串有闕。活衡候大致已付諛,後一批將於日付出。至於進口貨品线附有各常地領案策綾入口證措施迄了百分之二十六,此第五個月的減。可 批造廠商說,它門, K金因外轉處,在爲二六四.七五。公園五七二五,安全天之最低價, 項通知稷,詳細列 林醫生說,另一緻付分期付效時,他 去年一月少了日 雄安彩方面 的分對,會比一九流有吸而收,收市枣上現代,上開場外美電開市五一七四 書,五、一月份工廠 一直為剝的許多美國市沉七四,七五。三位, 大馬分期付款法案 品推郳難夜主人士將思,電與打律與貿易維攝時誤之總帳,備產新設的乾乾新已繪潑,大吃生计形羝謂之體,如降准增加,被少年增加百分之十 六四十五,近來被五個下巴,也可,太得全非常報一四字,的意項,以便恢復原全不受到保護,在我們去,讓法讓我規 的一個重要的去核,「比安年一月被少了百萬六千二百四六線。 ·七出,收市,太陽市五大國,亦 者及他的担保人蒙出 款不超過二百元。由於某槍無由而無法預料 報定,收市五七 交收有二千両,公天之最低價,最高價一,日毆報一四八有協定。 C特)昨四六 | 午後再初二六四 第五九·花五5收 伍酒·北五,登內,物主必須向租借 的話,他將被判雠 啟者在適當期間內,
協繳租項及物品物
是項供通他物品,協助天得在
,者知的主後固定取警在線
以所聯拒必的時候感面殼法。
主定按寄錯。
取的用期者物
話浩外
關保
質
本月內將览得具绫化,摸 可發表日本大和證券 日本中央銀行當物交挩的相對性受品
【日本國際貿易呈逆差
出口,[海外證投資有限公 宁的地位。 〔转】香以來,第一次發現你,於今年三月眾出之 向外添購機器將延擱 以緩和外滙急速外流之危機 ::日本向米按到物
外匯儲存將繼續銳減
有的出
。
投資案被時而能
引月或攜行
起份策的日式
給養服務件,纛杬细遫謝蝂業也開採取業體,由有份入經申由外國戰入代品,而 式
~全日號
廢,共計爲一隈工業很甜,洪只下之四十一三小時,部份的同師(愛明)六四‧六八七收市。天之最低價,最高傲 畫下號院通過一九六 給予租借者法定擦力一出已付歎項或在協定 同時產過分期付; 須三週前通知 一 條路,該由面他世,分期付激 的十四天內向物主案 付的事。 物主成其他代班入笋 購物對糪售商贸易的 第二基金
【案時說,租借者有炭 情形之下決案規定物 | 瑞安醫生提出共項 行停止的話,在這種本港單位投資
六吉曦m|七年分期付案, 署的協定文件,列 滋長作了很大,欲六-0·七〇1元,在日本航母隨費於彌易處於一九六五年「九六六年會計年 急速外流之危過。
等計畫,和外
總公司引起之新經濟局面。事。:
精神
次,約的 在形来司三
月份續撚貿易過去所政策,將不能避免之方外西備存量,將會 等共計二十四萬,低於飾畫
,則大告用。選項 間已落少了一千萬 向外國添購也件及機 已使日本的國際元,另一方面,
政策,以睡付今年元 促幣政策之全面綮D 出現之前,日本的修 试的例獠貿易的貨幣三月份的話,日本在新貿易的有刹將帶 根據統計,日本由於國際貿易的政府能對一些工 楊把發生銳滅的危遺
Vibro now has 11 completely up-to-date gets of piling Due to the above mentioned difficulties and prevailing | equipment and is in a position to make piles which are conditions an abnormally large amount of editloment wass ichelly led to Hongkong conditions. idle during 1966 and in view of the adverse effect avmchi this had upon our results was decided that depreciation Diversification has been into engineering work such should not be taken on equipment in respect of idle periods as will be seen from the hote attached to the Balance Sheet/ The total depreciation provided in the accounts does nevertheless amount to $482,398; well over 10% of the net value of our fixed assets.
The above two factors should be taken into account in comparing the results of 1966 with the immediately previous years. Notwithstanding this, the 1098 of $178;831 for the year is considerably less than anticipated at the time of our 1965 Report and must be considered satisfactory under the circumstances.
To off-set the above loss, $180,000 has been trans-
as soil investigation, foundation and superstructure" con- struction, site formation, road. bridge, water. drainage and utility works.
Negotiations are now going on for expansion of Vibro outside Hongkong. Also, the company acts for the large Nederhorst group, well-known internationally as construc tion engineers with Headquarters in Holland (the parent company of The International Foundation Co Ltd.), and as such may expect to participate in any projects which. the group may undertake in this area.
Following drastic reorganisation and much weeding out in every department the company now has an extremely well qualified and efficient staff. Strong systems of control over the company's operations have also been instituted.
ferred back to Appropriation Account from the Reserve from which substantial benefits have already accrued. for Replacement of Plant prior to the transfer of the balance en the latter account to General Reserve. No dividend is droposed this year.
PROSPECTS
Being mailed at the same time as this Report is letter concerning an offer of new shares to be made very shortly to shareholders. It is unnecessary to duplicate here the information contained in that letter save to fay that it will be clear therefrom that the Board looks forward to an expanding and profitable future for the company.
In view of the company's diversification the present name is considered unsuitable and the Board proposes that it be changed to Vibro (H.K.) Limited. Bound in with this Report there is a notice of an Extraordinary General Meeting which has been convened to follow immediately after the Annual General Meeting:
BOARD OF DIRECTORS TE
In accordance with Articles 81 and 82 Mr. A. M Schreuders retires from the Board but being eligible offers himself for re-election.
|
|
Vibro is now a modern, well-organised company, giving services of the best quality in Hongkong at prices which are at the same time highly competitive. In piling par. icularly it may be said that today Vibro makes the biggest | and best driven pile in Hongkong at a price which cannot generally be matched even by inferior products. That this is, so is evident. from the fact that at a time when some of our competitors are going out of business Vibro has more work on hand than at any time in the company's HistoryW
In our 1965 Report, shareholders were informed that. the company had incurred a loss in the first half of 1966) and that a profit could not be expected in that year. Our 1966 Report is being mailed to shareholders at the same time as this letter and as will be seen from it, whilst in 1966 total depreciation charges were reduced due to idle plant and the Working Account ceased to be charged with reserves for plant replacement, the loss of $178,831 is nevertheless considerably less than anticipated at the time. of our 1965 Report, and in view of the condition of the industry last year must be regarded as satisfactory. As was then indicated this setback was due to an internal problem which has now hean fully settlai.
In view of the result for the year the Board have heavy depreciation and other provisions, this is no longer agreed not to seek any remuneration for 1966.
AUDITORS
ine accounts have been audited by Lowe, Bingham & Matthews. who offer themselves for reappointment and a resolution fizing their remuneration and for their re- appointment will be submitted to the Annual General Meeting.
Hongkong, 4th March, 1967.
LEO D'ALMADA, Chairman
While we nave in past years inanced a large part of. the development and expansion of our operations out of
possible by reason of the scope and dature of the further expansion which has recently been embarked upon. Further capital is required both for additional equipment and as working capital for new types of work in which we are and will be engaged, both here and outside Hongkong, in respect of which there will be a alower return of working: costs.
Your Board is confident that, barring any unforeseen circumstances, the company should make a profit in 1967 even if there is no improvement in the general condition of the construction industry. Thereafter, plans in hand to
·take advantage of the present strength of the company, and the opportunities for further expansion which your Board foresees, are such that with the increased capital deriving from this issue the profitability of the company will fully justify the price of $4. per share at which shareholders will be invited to subscribe.............
trovisional allotment letters will be mailed on 15th. March, 1967, to shareholders registered on that date and the closing date of the issue will be 15th April, 1967.
Hongkong 4th March. 1967、
LEO'D'ALMADA
Chairman.
麻茶
的泌物,無內資
資法規主他法,租饑
·是一架化大由表,日跪公有問設航
展百i,量於示本式,的希望 加料
大四億艾 輸以,我客卽難,氣公
現十日經由上可機做可采勞等司
公 Y,件
糧在合Y本,機榮十。 S:菓司
機客製本日
美銷量大
定决可即
元日億十四百値
「具此國 公:領按及西,口大方针去飛