35
8
9
Estimate of Revenue.
Management (Malaya).
£
Units
Cents
Salaries (1)
9,200
X 16.
P.F.X.L.F. K.W.
K.V.A. Rate.
per Unit.
Revenue.
Wages (2)
4,500
1. Lighting and Domestic
£
Power
7
31.4
2,500
2. Intermediate and small
Consumers
2,560 Various
Average
5/3-
43,250
Rent, Water and Light (4)
1,600
Office Expenses (4)
2,500
18
67.5
2,740
3,040 $15.50 p.m.
3.04
66,000
Other Charges (4)
2,615
3. Larger Gravel Pump
Minds
20,315
82.75
68.0
11,800
13,880 $8-1
4. Dredges
82.75
66.5
13,160
14,070 $8.1
190.5
64.8
30,200
33,550
2.61 251,956 2.63 254,084
2.76 £615,290
Special Charges (4)
2,050
Management (London)
18,000
158,440
Add Rentals on Hire Equipment..
10,500
Add 5 per cent. Contingencies
£625,790
£,
7,922
£166,362
Less Bad Debts @ 1 per cent. of Items 3 and 4 =
@10 per cent of Item 2
6,060
6,375
Nil for Item 1
...
£11,435
Allowance for Rebates due Mininum Payment
Clause
10,000
Ipoh, Perak,
Say
£21,435 £21,400
Less Bad Debts and Rebates
GROSS REVENUE..
21,400
£604,390
Operating Charges
Generation.
A.
Chenderoh Power Station,
£
£
Salaries (1)
3,700
Wages (2)
2.000
Repairs and Maintenance (3)...
8,090
Other Charges (4)
575
14,365
B.
Malim Nawar Power Station.
£
Salaries (1)
4,700
Wages (2)
6,500
Maintenance and Repairs (3)...
5.100
Coal Oil and Stores (5)
43.175
Fuel Oil
1.000
Other Charges (4)
700
61,175
Distribution.
A.
Distribution and Control.
£
Salaries (1)
10,300
Wages (2)
8.575
Repairs and Maintenance (3).
11,000
Other Charges (4)
4,400
34,275
B. Consumers' Department and Hire Equipment.
£
Salaries (1)
4.450
Wages (2)
the
1,400
Repairs and Maintenance (3)...
650
Other Charges (4)
1.760
8.260
Enclosure 2 in No. 1.
THE PERAK RIVER HYDRO-ELECTRIC POWER COMPANY LTD.
Federated Malay States, 26th May, 1930. The Chief Secretary to Government, Federated Malay States, Kuala Lumpur. SIR,
1. I HAVE the honour to refer to the Conference which took place at
64 Carcosa, on 13th May, at which in addition to yourself, there were present, on behalf of Govern- ment, the Acting Resident of Perak, the Acting Resident of Pahang, the Acting Financial Adviser, Federated Malay States, and the Director of the Electrical Board, Federated Malay States-and, on behalf of my Company, Messrs. Dane and Topham, in addition to the writer.
2.
At that Conference, we were asked by Government to supply an estimate of the probable working results of the Company for the year ending 31st July, 1931, and we were advised to be as conservative as possible, having regard to the prevailing low price of tin, and to assume the worst condition in order that, if any further financial assistance were needed by the Company, an outside figure would be arrived at. At the same time, it was hoped that the actual amount that might ultimately have to be found would be smaller rather than larger.
3. Government also enquired whether the Board had any plan for obtaining any further cash that might be required.
4. I have since been in communication with my colleagues in London, and have informed them that I propose to let you have all information required, and they fully
concur.
5.
In order to assist the Finance members of my Board, I am desired to obtain certain information from Government, and to point out that in any financial scheme propounded in London, there would be no prospect of any plan succeeding which contemplated putting any scrip in front of the existing three classes of Debentures, nor, obviously, could any scheme contemplate anything coming in front of the Preference or Ordinary Shares held by Government without Government consent. The issue of, say, 5-year Notes or Preferred Ordinary Shares would also require Govern- ment sanction, and there would be no prospect of making such an issue unless such Notes or Shares carried voting rights. At the same time, it is clear that any new issue must come before or in front of the existing Ordinary Shares, of which 75,000 are held by Government.
6. To enable my colleagues in London to give early consideration to alternative plans, I am desired to obtain the views of Government on the following points :-
(a) Would Government be willing to accept a cash sum for their 500,000
Preference Shares, and, if so, what sum?
(b) Would Government be prepared to convert their Preference Shares into Preferred Ordinary Shares, together with their 75,000 Ordinary Shares, and make them part of an issue of such a number of 5-year Notes or Preferred Ordinary Shares as would provide sufficient cash to meet the estimated future needs of the undertaking?
(c) Do Government agree that voting rights would have to attach to Preferred Ordinary Shares or 5-year Notes which might be arranged for issue in London?
FOLI
[ 7 7 7 7 1
RECORD OFFICE
I π
Reference -
C.O.882/12
COPYRIGHT PHOTOGRAPH-NOT TO
AF
PUBLIC RECORD OFFICE, LONDON
ALLY WITHOUT PERMISSION OF THE REPRODUCED PHOLOGRAPHIC-