For the descendents of Richard Dearie and his son John Russell
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J. A. Russell and Co. Ltd. News and other Sources 1960
The Straits Times, 7 January 1960, Page 14 Malaya's only coal mine to shut down KUALA LUMPUR, Wednesday. THE Federation's only coal mine, the Malayan Collieries at Batu Arang, will definitely stop production at the end of this month. This was stated here today by a spokesman for the Malayan Collieries. "Actual production at the mine will stop at the end of this month,” he said. “Consideration is still being given by the Government as to the future of the township.” The company had earlier announced that operations would cease at the beginning of this year “unless something unforeseen happens to justify further development.” It had also said that reserves of coal would last until February. The mine employs 250 workers: their dependents total about 1,000 people.
The Straits Times, 8 January 1960, Page 8 Batu Arang Batu Arang has been a long time dying, and with luck may never be actually dead. But as a coal mining township Batu Arang passes from the picture in three weeks' time when the last coal is loaded. The future is problematical. The company, Malayan Collieries, hopes to be able to plant instead of extract, and intends to use 2,500 acres of its lease for rubber. There will be work for some of the ex-miners, but it will not amount to much, and of course the rubber estate will not be producing for another seven years. Even coal miners know that. Once upon a time the township had a population of 12,000, entirely dependent on coal. Batu Arang has been in fact a company township, which accounts for many of the difficulties it has faced since the demand for coal began to fall in 1953. Selangor State had no legal responsibility and the company could not afford to continue for everyone all the services which it provided free for employees and their families. It has been a tragic story, the workers falling in number from 2,350 to today’s 250 in just over six years. There is somewhere around 70 years of economic life in the mine—if only the coal could be sold. Instead, 50 million tons will lie in the ground—admittedly not very good coal—and unless secondary industry comes to Batu Arang, which is now unlikely, this once flourishing town will survive only as a village. The final help its remaining inhabitants can expect is a subsidy in support of the rates they must now raise to pay for such amenities as are left.
The Straits Times, 8 January 1960, Page 10 Batu Arang: New hope STATE SECRETARY TALKS OF MEASURES TO REVIVE TOWN COLLIERY HAS PLAN TO PLANT RUBBER TO AID THE JOBLESS KUALA LUMPUR, Thursday THE dying town of Batu Arang, which will soon be forgotten as a coalmining area, will rise again as a rubber producing centre. In three weeks time, the mine will cease to operate, but Selangor’s State Secretary, Inche Hashim bin Mat Dris, today indicated that two important measures were expected to be taken soon by the State Government on the future of the township. These are: • SETTING UP of a local council. • GRANTING permission to Malayan Collieries to plant rubber and provide employment for the town’s population. In November, 1958, Malayan Collieries, had provided all the essential public services previously, it had to restrict these to its 250 employees and their families. Withdrawn The company provided free water to the town’s population but lighting had to be paid for. Other services—medical facilities at the company hospital, street sweeping, garbage removal—were also withdrawn from the township as a whole. Inche Hashim told the Straits Times today: “We are looking into the question of creating a local council for Batu Arang. “This is being investigated in great detail by the District Officer in Kuala Kubu Bharu. “The local council will be responsible for collecting its own rates. It will get some form of grant in aid from the Government to enable it to pay for essential services. “Batu Arang has the rudiments to govern itself. It is quite simple to give the area a kind of local government.” Inche Hashim said that the company had applied for permission to plant rubber trees in the area. “We are trying our best to assist the company. This will give employment to the mine workers who are jobless as a result of the closure of the mine,” he said.
The Straits Times, 9 January 1960, Page 5 BATU ARANG: NEXT, A MASS MEETING People to decide what action to take about their future KUALA LUMPUR, Friday. THE people of Batu Arang will hold a mass meeting on Sunday evening to decide what to do in view of the fact that Malayan Collieries is to close its coal mine at the end of the month. Two leaders, Mr. B. S. Pitchai and Mr. K. Kathir Velu, told the Straits Times today they planned to: • URGE THE GOVERNMENT to take speedier action for the residents’ RELIEF; and • ASK THE COMPANY for ex-gratia payments for re-trenched workers. A committee would be formed to represent the workers in negotiations with the Government and the company. Mr. Pitchai, who is president of the Colliery Workers Union, and Mr. Kathir Velu, president of the Colliery Asian Staff Union, both welcomed the move by the State Government to form a local council for the town. Will stay Asked if the closure of the mine would mean a mass exodus of residents, Mr. Pitchai said: “No, definitely not. We will stay and await whatever state has in store for us here. “The company has been in trouble and workers have been retrenched over the past few years but although a number of the men have left to work elsewhere, they have left their families behind. “Here at least we are sure of a roof over our heads. We have approached the company to buy up our quarters at fair prices.” They had been getting water from the company’s reservoir, electricity form the C.E.B. but through the company’s distribution system, and health and medical services from the company. Now they wondered whether the local council would be started in time so that there would be uninterrupted services. Employment He said that clerical and technical staff had asked the company to help find jobs for them and some had obtained employment through such helps in mines and estates. Most of the labourers were now working either for neighbouring estates and mines or on the Cameron Highlands project or tea plantations. Of an original labour force and staff of more than 4,000 workers of the company the number had dwindled to 250. The remaining workers will have to leave at the end of the month. The company has applied to the State Government for a change in title of some of its land from mining land into agricultural land.
The Straits Times, 16 January 1960, Page 12 Coal production Malayan Collieries produced 22,689 tons in the last quarter of 1959— October 7,677 tons November 8,895 tons and December 6,117 tons.
The Straits Times, 30 January 1960, Page 1 OIL DUTY TO BE SLASHED ON FEB. 1 KUALA LUMPUR, Friday. THE GOVERNMENT today announced drastic cuts in the controversial new duties on gas and diesel oil. In addition six bodies will pay substantially less duty on liquid fuel (fuel oil). The reduced rates will come into operation from Feb.1. The six bodies are the Central Electricity Board, Perak River Hydro-Electric Power Co. Ltd, Penang City Council, Malayan Railway, Malayan Cement Ltd., and Malaya Industrial and Mining Corporation Ltd. They will now pay a duty of $15 per ton on their fuel oil supplies instead of the present rate of $48 a ton. This is equivalent to per cent ad valorem based on an average price of $50 a ton. Decision reversed In addition, the duty of the 20 cents a gallon on all imports of gas and diesel oil has been slashed to eight cents – equivalent to about 12 ½ per cent ad valorem. The new duty rates on the lubricating oil and grease remain unchanged. One immediate result of the duty cuts is that the C.E.B. has reversed its decision to raise its charges for domestic power. It is being forced, however, to make increases in its general tariff. The Railway Administration is confident, too, that it will not have to raise its fare and freight rates. The Government announcement said: "The new rates, while granting a measure of relief to industry, would still ensure that it pays its fair share of the revenue to be collected from this source. "As the greater portion of such duties will be borne by primary industry, it will not be possible for it, by and large, to pass on such duties to buyers of consumer goods, thereby contributing towards a general rise in the cost of living. "As far as electricity rates are concerned, the C.E.B. has informed the Government that, while it will have to make limited increases in its general tariffs, it does not propose to make any increase in its charges to domestic consumers." Leaders of industry in Perak today viewed o the partial tax exemptions as inadequate. Mr. J. P. Hannah, the general manager of the state's largest consumer of fuel oil, the Perak River Hydro-Electric Power Co. Ltd, said: "I expected a bigger exemption." Despite the partial exemption “the tax will still impose a burden on the users of electricity, particularly the tin mining industry," he said. Mr.Woo Ka Lim, secretary of the Perak Chinese Mining Association, said: "We welcome the reduction in tax, but I do not think it goes far enough." In Penang, the Mayor, Mr. Ooi Thiam Siew, said the City Council might not have to raise electricity charges if the duty reductions proved big enough.
The Straits Times, 1 February 1960, Page 7 Coal mine is shut down BLOW FOR 4,600 PEOPLE BATU ARANG, Sunday. THE Malayan Collieries Limited, whose mine here had been the life-blood of the people in this coal mining town, 30 miles from the Federal capital, today ceased operations permanently. But, the town’s 4,460 people have set up a committee to plan the establishment of a local council as an eleventh hour bid to prevent Batu Arang from extinction. The two main problems facing the people are: • Light, water, medical and sanitary facilities, which were provided by the firm in the past-and • Employment. The company had retrenched most of its staff in batches in the past few months. Only 81 are left on the payroll of the firm. Retained These people are being retained to complete the winding-up of affairs in Batu Arang. The company has told residents who are now occupying the firm’s quarters to quit as soon as possible. Light, water, sanitary and medical facilities would be extended for a short while but not indefinitely. A handful of people have already moved out after obtaining alternative employment, while others are undecided as to what to do. Local Council A seven-man committee recently set up to solve the problem has recommended to the state government that a local council be created. The chairman of the committee, Mr. P. K. R. Kurup, told the Straits Times today that the government was sympathetic, but has told them that the initiative must come from the people themselves. Mr. Kurup added that with a local council, Batu Arang would be able to continue to have light, water, sanitary and medical facilities.
The Straits Times, 4 February 1960, Page 8 SITUATIONS VACANT A VACANCY WILL exist for a foreman diesel fitter to take charge of a workshop, servicing lorries and mobile plant. Salary according to experience and qualification. Applicants should contact the Engineer, Malayan Cement Ltd., Rawang.
The Straits Times, 12 February 1960, Page 14 Industrialists want fuel tax cut FEDERATION GOVERNMENT'S DECISION UNDER FIRE STRONG criticism is being levelled against the Federation of Malaya Government's decision to allow only a certain group in industry to benefit from the reduced import duty on fuel oil. The criticism comes from a large number of manufacturers in the Federation whose products range from soap manufacture to pottery making, and who still have to pay the new tax at full rate. They describe the Federation Government’s policy as “discriminatory and detrimental” to the rapid growth of industrial development in the country. The Federation Government reduced the duty on fuel oil on February 1 from $48 per ton to $18 per ton. In addition the tax on diesel oil was cut from 20 cents per gallon to eight cents per gallon. Lower rates The lower rates on fuel oil are applicable, however, only to the following industries: the Central Electricity Board, the Perak River Hydro-Electric Power Co. Ltd., Penang City Council, Malayan Railways, Malayan Cement Ltd., and the Malaya Industrial and Mining Corporation Ltd. A leading industrialist in Petaling Jaya said that the duty on fuel and diesel oil was most undesirable because it would result in higher production costs. Some manufacturers would undoubtedly pass on the increase to consumers, while others might even have to narrow down their range of activities. “I cannot understand why the Federation Government should impose two separate duty rates on fuel oil, as this will lead to administrative complications and other unhealthy economic consequences,” (the) industrialist added. “The tax will also hamper the development of the Federation’s new industries and discourage overseas investors from entering the country.” An appeal It is not yet decided whether the Federation of Malaya Manufacturer’s Association will appeal to the Finance minister, Mr. Tan Siew Sin, to abolish the fuel oil tax. Some of the members have already approached the Minister individually and explained to him the difficulties faced by them. The All-Malaya Chinese Mining Association will call a meeting soon to discuss operation of the reduction of duty on diesel oil.
The Straits Times, 17 February 1960, Page 11 MALAYAN CEMENT, LIMITED (Incorporated in the Federation of Malaya) NOTICE IS HEREBY GIVEN that the Tenth General Meeting of the members of the Company will be held at the registered office of the Company, Hongkong and Shanghai Bank Building, Kuala Lumpur, on Tuesday, 22nd March, 1960, at noon for the following purposes: - To receive and consider the balance sheet as at 30th November, 1959, and the reports of the Directors and the Auditors. To declare a dividend of 12 ½ %, less 40% income tax for the year ended 30th November, 1959, payable on 22nd March, 1960, in respect of the fully paid capital of the Company. To determine Directors’ remuneration for the year ended 30th November, 1959. To appoint Auditors to hold office for the ensuing year. To transact any other business of an annual general meeting. NOTICE IS ALSO HEREBY GIVEN that the share register will be closed from Tuesday, 8th March, 1960, to Monday, 21st March, 1960, both days inclusive, and the above dividend, if declared, will be paid to shareholders holding fully paid shares whose names appear in the Company’s register of members on 8th March, 1960. By Order of the Board J. A. RUSSELL & CO., LTD Secretaries, Kuala Lumpur, 16th February, 1960.
The Straits Times, 23 February 1960, Page 10 Malayan Cement Malayan Cement produced 19,183 tons during January. The Straits Times, 1 March 1960, Page 10 & The Straits Times, 2 March 1960, Page 10 MALAYAN COLLIERIES LIMITED MINING EQUIPMENT FOR SALE Due to mining having ceased a large quantity of underground and opencast equipment is available for immediate disposal. Apply personally or by letter to General Manager, Batu Arang, Selangor.
The Straits Times, 4 March 1960, Page 2 CHINA, JAPAN DUMPING RESTRICTS SALES AND OUTPUT OF MALAYAN CEMENT KUALA LUMPUR, Thurs. Dumping of Chinese and Japanese cement has restricted production and sales of the Malayan product. This is stated in the report of Malayan Cement Ltd. for the year ended Nov. 30, 1959. Representations were made to the Government without effective result, the report says. A statement by the chairman, Mr. J. Drysdale, says that although the financial outcome can be considered satisfactory, it has been achieved by the use of about $6 ½ million extra capital investment and an increase in sales of almost 60 percent. Had the company is been able to sell the works’ capacity the result would have been better. Both output and sales were restricted by imports of foreign cement. Consolidation At an extraordinary general meeting last month the company’s articles were altered to provide for the appointment of two locally domiciled directors. Tuan Haji Mustapha Albakri and Mr. Leong Hoe Yeng have joined the Board. With regard to the future, the directors consider that the demand for cement will increase, and further expansion would be justified, but they have decided to consolidate the company's present position in the market and study all other aspects of the matter a little longer before embarking on further extension. The profit for the year was $2,507,187 and a dividend of 12 ½ peer cent less tax has been declared. Although Malayan Collieries have ceased to produce coal, shale supplies will continue, says the report. The cement company will take over the shale winning operation and the equipment involved
The Straits Times, 4 March 1960, Page 10 The balance sheet of Malayan Cement Ltd. for the year ended November 11 shows a net profit of $2,507,187 against $1,883,144. The profit is arrived at after paying $53,554 on the debenture and making provision from depreciation of fixed assets in the sum of $1,333,524. The carry forward is $426,649 and $250,000 is transferred to general reserve to cover the debenture instalment. A sum of $200,000 is earmarked for machinery reserve and $1,116,658 for future income tax. As already announced a dividend of 12 ½ per cent (unchanged) is being declared. The chairman, Mr. J. Drysdale, states that although the financial outcome could be considered satisfactory, it had only been achieved by the use of about $6 ½ million extra capital investment and an increase in sales of almost 60 per cent. Had the company been able to sell cement to works’ capacity the result would have been better. Both output and sales were restricted by imports of foreign cement.
The Singapore Free Press, 24 March 1960, Page 2 ……………… Malayan Collieries 4 cents on break-up considerations. ……………… M.Colls $1.77 ½ (up 4 cts.)
The Straits Times, 24 March 1960, Page 10 BROKERS' REPORT Colls shares still trading Malayan Cement $1.71; Malayan Collieries $1.75 and $1.77; The Straits Times, 28 April 1960, Page 12 Mr. Y. P. Liu (S.F.-Rawang) said Batu Arang was in a state of anarchy. Malayan Collieries Ld. as evacuating the town and no local authority was prepared to take over. There were many local problems that could not be solved because the local people had no authority to turn to and it was a case for Government action he said.
The Straits Times, 6 May 1960, Page 12 New cement apparatus in Malaya MALAYAN Cement Ltd. has introduced into the local building industry a bulk cement handling apparatus, called Portasilo. A spokesman said that Portasilo would revolutionise cement handling in the country and might well mark the end of the paper-bagged cement era. Special licence The system was demonstrated at a building site in Petaling Jaya, Kuala Lumpur recently. It has a storage capacity of 20 tons and is 18 feet high. The Portasilo costs about $7,500 and was made locally, except the pullwey (weighing device), under a special licence. This “bagless cement” handling device has already been used extensively in Europe. Among its advantages are said to be weatherproof on-the-spot storage, and is easily transportable. “But it is only economical for use on large contract buildings or construction,” the spokesman said. Cement is transferred into the Portasilo from a mobile tanker by compressed air.
The Straits Times, 10 June 1960, Page 7 ALL BACK SOUTH AFRICAN GOODS BOYCOTT KUALA LUMPUR, Thursday. THE Federation Government's boycott of South African goods in protest against the apartheid policy gained all round support today. Merchants and trade unionists said they would back wholeheartedly every move which the Government would make on this issue One of the first firms to follow the official lead was Malayan Cement which has been using 4,000,000 South African paper bags a year.
The Straits Times, 18 June 1960, Page 14 CEMENT OUTPUT Malayan Cement Ltd's Rawang Works produced 20,228 tons in May.
The Straits Times, 22 June 1960, Page 13 &The Straits Times, 24 June 1960, Page 11 MALAYAN RAILWAY TENDER NOTICE TENDERS are invited for the Supply of 6,000 cubic yards of earth fill at the proposed bulk cement depot at Bukit Tengah for Malayan Cement Limited. Tenders close at 12.00 noon on 4th July, 1960 at the office of the Chairman, Tender Opening Board, c/o Chief Accountant, Malayan Railway, Kuala Lumpur. Further particulars can be obtained at the Offices of Divisional Engineer, Ipoh and Section Superintendent, Malayan Railway, Bukit Mertajam, during normal working hours. The Railway Administration does not bind itself to accept the lowest or any tender. E. T. WILLIAMS General Manager.
The Straits Times, 23 June 1960, Page 7 On U.K. leave RAWANG, Wed. The manager of Malayan Cement Ltd. here, Mr. H. J. Hamilton and Mrs. Hamilton have left on long leave in Britain. The Singapore Free Press, 8 July 1960, Page 2 Only Malayan Collieries again were the exception to the general easing in the industrial section. They rose by 2 ½ cents to $1.77 ½ middle price.
The Singapore Free Press, 9 July 1960, Page 2 In the industrial section 12 out of the 13 changes were also losses, the only exception throughout the entire list was Malayan Collieries which rose 2 ½ cents to a middle price of $1.80 and transactions were reported at this price in Kuala Lumpur. The company closed its mining operations earlier this year and is expected to liquidate soon. Investors have an eye on the capital distribution.
The Straits Times, 12 July 1960, Page 12 On the Malayan Stock Exchange yesterday with few exceptions the general easing continued. An exception was Malayan Collieries which was up again to $1.82 on continued rumours of a capital return and Malayan Cements, the sister company, had takers up to $1.69.
The Straits Times, 18 July 1960, Page 10 MALAYAN COLLIERIES LIMITED Malayan Collieries Ltd., plan a reorganization of the Company’s Financial Structure and will recommend a capital distribution in the near future. Shareholders will be informed of these proposals as soon as possible but in the meantime the Board wish it to be known that the value of the assets, including cash, is estimated to approximate to the current market value of the Shareholding. By Order of the Board J. A. RUSSELL & CO., LTD Secretaries.
The Straits Times, 20 July 1960, Page 12 Malayan Collieries had further sellers down to $1.88 following the announcement that the directors plan a reorganization of the company’s financial structure and will recommend a capital distribution in the near future. Shareholders will be informed of these proposals as soon as possible but in the meantime the directors wish it to be known that the value of the assets, including cash, is estimated to approximate to the current market value of the shareholding.
The Straits Times, 19 August 1960, Page 12 Cement output Malayan Cement produced 22,137 tons during July.
The Straits Times, 31 August 1960, Page 14 HARPER, GILFILLAN & CO., LTD. (Incorporated in the Federation of Malaya) MERCHANTS, SHIPPING AND INSURANCE AGENTS, ENGINEERS & CONTRACTORS, ESTATES AND MINES SECRETARIES & AGENTS. who with their Associates have been trading in Malaya since 1987 Join with the people of Persekutuan Tanah Melayu in celebrating INDEPENDENCE DAY 1960 BRANCHES IN KUALA LUMPUR, PENANG, IPOH, MALACCA, PORT SWETTENHAM, SEREMBAN, TAIPING, TELUK ANSON, KOTA BHARU and JOHORE BAHRU. Also in SINGAPORE and SARAWAK. DISTRIBUTORS FOR THE FOLLOWING MALAYAN INDUSTRIES; Boh Plantations Ltd. Federal Plastics Industries Ltd. Malayan Cement Ltd. Power Foam Rubber Products (Mfg.) Co., Ltd. Sincere Match & Tobacco Factory Ltd. Tong Meng Co., Ltd. (Manufacturers of Aluminium Ware)
The Straits Times, 23 September 1960, Page 11 MALAYAN CEMENT LIMITED INTERIM DIVIDEND NOTICE IS HEREBY GIVEN THAT the Directors have declared an interim dividend of 5 per cent less income tax at 40 % in respect of the year ending 30th November 1960. Such dividend will be paid on 17th October 1960 to shareholders on the register at the close of business on 10th October 1960. NOTICE IS ALSO HEREBY GIVEN THAT the share register will be closed from 10th October 1960, to 17th October, 1960, both dates inclusive. By Order of the Board J. A. RUSSELL & CO., LTD Secretaries, Kuala Lumpur, 22nd September, 1960.
The Straits Times, 19 October 1960, Page 12 Cement output Malayan Cement produced 22,137 tons during July.
The Straits Times, 15 November 1960, Page 15 MALAYAN COLLIERIES, LIMITED. (Incorporated in the Federation of Malaya) NOTICE IS HEREBY GIVEN that the forty-second General Meeting of the Company will be held at the Registered Office of the Company, Hongkong & Shanghai Bank Building, Kuala Lumpur, on Wednesday, the 14th day of December at 12 o’clock noon for the following purposes: - To receive and consider the Balance sheet and accounts to 30th June, 1960, and the reports of the Directors and Auditors. To determine the Directors’ remuneration for the year ended 30th June, 1960. To elect Directors in place of those retiring To appoint Auditors for the ensuing year To consider and if thought fit pass the resolutions set out hereunder, of which the Resolution numbered 4 will be proposed as a Special Resolution and the Resolutions numbered 1,2,3,5 and 6 will be proposed as ordinary resolutions. RESOLUTIONS 1. THAT the capital of the Company be increased to $5,150,100 by the creation of 6,300,200 new shares of 50 cents each. 2. THAT immediately and contingently upon such increase of capital taking place, it is desirable upon the Directors’ recommendation to capitalise the sum of $3,433,400 being part of the undivided profits of the Company and accordingly that the said sum of $3,433,400 be capitalised and applied on behalf of the persons who shall be registered in the books of the Company as holders of the Company’s shares on the date of this Resolution on the footing that such persons become entitled to the capitalised sum as capital in accordance with Article 135B of the Articles of Association of the Company, and that the said capitalised sum of $3,433,400 be applied as payment for ordinary shares of fifty cents each in the Company to rank in all respects pari passu with the existing shares of the Company and that such ordinary shares of fifty cents each credited as fully paid be allotted to the said persons in the proportion of two such ordinary shares for each one ordinary share of fifty cents then held by them to be accepted by them in full satisfaction of their respective interests in the said capital sum . 3. THAT immediately and contingently upon the said shares of fifty cents each to be issued credited as fully paid pursuant to the preceding Resolution being so issued the shares in the capital of the Company be consolidated in such manner that every three of the existing shares of fifty cents each shall constitute one share of $1.50 upon which the sum of $1.50 shall be credited as having been paid up. If Resolutions Nos. 1 to 2 and 3 above are duly passed: – 4. THAT immediately and contingently upon the consolidation pursuant to the preceding Resolution taking effect the capital of the Company be reduced from $5,150,100 divided into 3,433,400 shares of $1.50 each to $343,340 divided into 3,433,400 shares of ten cents each and that such reduction be affected by returning to the holders of the 3,423,400 shares that have been issued paid up capital in excess of the wants of the Company to the extent of $1.40 per share and by reducing the nominal amount of each of the said shares from $1.50 to ten cents. 5. THAT immediately and contingently upon such reduction of capital taking effect the shares in the Company be consolidated in such manner that each ten of the existing shares of ten cents each shall constitute one share of $1 upon which the sum of $1 shall be credited as having been paid up. 6. THAT the Directors shall have authority to settle any difficulty which may arise in carrying the above resolutions into effect in such manner as they may think best and in particular are empowered to issue fractional certificates in respect of any fractions of shares which may arise thereby. To transact any other business of an Ordinary General Meeting. NOTICE IS ALSO HEREBY GIVEN that the Share Register will be closed from Wednesday, 30th of November 1960 until Wednesday, 14 December 1960 both days inclusive and if the above Resolutions are duly passed the return of capital referred to in Resolution 4 would become payable in due course, subject to confirmation by the court, to Shareholders whose names appear on the Company's Register of Members on 14th of December, 1960. By Order of the Board J. A. RUSSELL & CO., LTD., Secretaries Kuala Lumpur, 12th November, 1960.
The Straits Times, 16 November 1960, Page 16 Market sources said yesterday they could scarcely recollect a more confusing announcement than that just made by Malayan Collieries. In October 1958 the authorised capital was reduced from $4 million to $2 million by the repayment of 50 cents on each $1 share. Now a two-for-one issue is proposed, in a form that will bring each 50-cent share to $1.50. A repayment of $140 is then proposed leaving the shares at 10 cents to be converted into $1 stock. The effect appears to be that a holder of 1,000 50-cent shares now will receive a capital return of $1, 4000 and will wind up with 100 $1 units of stock.
The Straits Times, 21 November 1960, Page 12 According to one market source, a strong factor in the industrials market now is the imminence of capital returns by Malayan Collieries and Hammers. This, he said, would put about $7 million into the hands of investors, some of which should be seeking a new home in industrials. Investment There is also stated to be increased investment and institutional interest in industrials which, besides being on very attractive yield bases, are traditionally the steadiest section of the market. Because a large proportion of scrip is in the hands of institutional investors who may enlarge their portfolios but do not readily switch their holdings, the section is not subject to wide fluctuations.
The Straits Times, 23 November 1960, Page 9 Flying rocks fall into homes GIRL, 9, IN SQUATTER AREA, HURT AS BLASTING IS CARRIED OUT 300 YARDS FROM 50-HOUSE SETTLEMENT RAWANG, Tuesday FLYING rocks from a quarry being blasted by the Malayan Cement Works here yesterday crashed through the zinc roofs of four homes in a squatter settlement of 50 houses. A nine-year old girl Ho Kam Moi was injured by a falling piece. A police spokesman said she was playing outside her house about 6 p.m. when a rock “the size of her head” landed on the roof, rolled off and struck her. Police sent her to the Kuala Lumpur General Hospital where she is now recovering from neck and chest injuries. Last June, a 71-year-old woman was injured when a piece of limestone landed on her doorstep. Warning Blasting at the quarry which is about 300 yards away from the squatter area, is carried out once, and sometimes twice, daily. A warning siren is sounded before each operation. The 400-odd squatters take this as a signal to run for cover. Saying the company regretted yesterday’s mishap, a senior official of Malayan Cement said steps were being taken to avoid similar accidents. He said that prescribed safety measures were being adhered to while blasting was in progress. Only two members of the public had been injured in the last eight years, he said. The
Straits Times, 24 November 1960, Page 12 Details of Malayan Collieries proposed capital return of $1.40 a share have been well known to the market for some time. Probably the news in the annual report is the disclosure that the company’s holding in Malayan Cement has been sold. The 663,750 founder shares realised $1,194,750, which indicates that about $1.71 a share was paid. Market circles consider it unlikely that these shares were disposed of on the open market. Share Value Mr. Llewellyn says nothing has occurred to alter the estimate that the amount available to shareholders would be about the market price when the estimate was made in July. (The middle price at July 22 was $1.80) In the first seven months of the year, before production ceased, 48,908 tons of coal was produced. The profit for the year is $263,571 against $463,046. After the proposed transfer of $1,006,405 to the general reserve, the balance carried forward is $198,727 against $293,853. The company has dropped a proposal to embark on rubber planting on a lease converted to agricultural title, as “it was decided that it would be more advantageous to shareholders to distribute the proceeds of the sale of the company’s assets rather than to tie them up in a long term investment that could yield no return for the next seven years.
The Straits Times, 24 November 1960, Page 5 Turn coal town into industry area, he urges KUALA LUMPUR, Wednesday. A PROPOSAL that the former coal mining town of Batu Arang be turned into an industrial area was made in an annual statement by the chairman of the Malayan Collieries Ltd., Mr. A. E. Llewellyn, published today. Mr. Llewellyn said that this was possible now that Batu Arang would become a town board area on Jan. 1 and there would be continued services and amenities there. The town already had everything a small town needed, he added. Mr. Llewellyn said: I am glad to say that it has just been announced that Batu Arang will become a town board area with effect from Jan. 1, 1961. "The area covered is 906 acres and includes the whole of the inhabited portion from the railway station to the northern entrance to the property, being generally the same land as was bounded by that part of the perimeter fence within which the population was withdrawn at the time of the Emergency. "This action should ensure a secure future for Batu Arang which has a good rail and road access, with electric power and water are available to meet any requirement, also shops and schools and room for several times the present population if work were available. "It already has everything which a small town needs and which to provide in an undeveloped area would involve a very large expenditure. "We have about 30 acres of land immediately available for industrial development within the new town board area and more could be converted for that purpose. Reversed "Admittedly it is 29 miles from Kuala Lumpur, but that should not deter certain types of industry from going to Batu Arang now that they can look forward to the continued existence of the services and amenities to which the inhabitants have for so long been accustomed." Mr. Llewellyn earlier referred to the events which led to the closing down of the mines. He said that in 1954 the company's policy of expansion had to be reversed because the government could not agree to ensure that the Malayan Railway Administration and the Central Electricity Board would use local coal for a proportion of their requirements unless it was supplied at a price "considerably" below cost. Mr Llewellyn added: "sales had then been dropping over several years and that trend continued until, as was made clear in the chairman's statement last year, it became inevitable that mining operations would have to be stopped."
The Straits Times, 20 December 1960, Page 20 Malayan Collieries announces that its annual meeting passed resolutions which, subject to court confirmation, mean that share holders will receive a capital repayment of $1.40 a share and that their holdings will be reduced to one-tenth in number, each of the new shares having a nominal value of $1.
The Straits Times, 21 December 1960, Page 13 Blasting danger KUALA LUMPUR, Tues.— The Selangor State Assembly tomorrow will consider a motion regarding blasting operations of Malayan Cement Ltd. in Rawang and the possible danger to people living nearby.
Singapore Free Press, 31 December 1960, Page 2 AYER Hitam Tin Dredging's assets should be "much more than ample" to cover the cost of its dredge conversion, says the Investors Chronicle, London.... Although the timing is somewhat unfortunate, the directors had only restricted manoeuvre, says the magazine. Since stocks of coal built up before the closure of Malayan Collieries have been used, expensive coal has been imported, raising the final costs per cubic yard by 37 per cent. Where possible the conversion of dredges to electricity has been in progress in Malaya for some years, so that the advantages of the change have been convincingly demonstrated. Some are, however, being lost because of the tax on fuel oil in Malaya. (The recent Federation budget adjusted tin mines’ rates for fuel oil downward in line with general industry.) The capital cost of the operation is likely to be heavy, but the company is well fitted to withstand that expenditure. (Extract)
J. A. RUSSELL & CO., LTD.
(Incorporated in the Federation of Malaya)
Estate & Mine Proprietors, Agents & Secretaries
Hongkong and Shanghai Bank Building, P. O. Box 245, Kuala Lumpur.
Phones: 84264/6.
Tel. Add.-“Jar”
Board of Directors
Chairman W. Gemmill (Rhodesia)
Dy. Chairman D. O. Russell(London)
Exec. Director
& Gen. Manager J. Drysdale, C. B. E., P. J. K., J. P.
Asst. Manager A. E, Llewellyn
Secretary C. H. Gaskin
Assistants R. S. McKenzie
D. A. Simpson
T. B. Russell
Mrs E. Brown
Agents & Secretaries:
Malayan Collieries, Ltd.
Malayan Cement Ltd.
Secretaries:
Malayan Cables, Ltd.
Managing Agents & Secretaries:
Boh Plantations, Ltd.
(Producers of ‘Cameronian’ ‘Boh’ and ‘Tiger’ Teas)
Proprietors :
Sintok Wolfram Mine.
Agents:
Royal Exchange Assurance Corporation.
Rep: M. J. S. Newman
BOH PLANTATIONS, LTD.
(Incorporated in the Federation in Malaya)
Directors:
J. Drysdale, C.B.E., J.M.N., P.J.K., J.P. (Chairman)
R. S. MacKenzie
P. J. D. Regester, O.B.E., T.D.
Boh Estate.
Produce: Tea
Phone: 234 (Ringlet)
Postal Address:
Ringlet P.O., Cameron Highlands.
Tel. Add.-"Boh " Ringlet
Nearest Railway Station and distance:
Tapah Road, 42 miles.
Nearest Telegraph Office: Ringlet 7 miles.
Manager: H. G. Squiers
Senior Assist: P. A. Wilkinson
B. W. Stock
Mng. Agents, Secs & Reg. Office: J. A. Russell & Co., Ltd. Hongkong and Shanghai Bank Building, Kuala Lumpur
Acreage—Total 3,120 acres. Cultivated (Tea) 1,550 acres
MALAYAN CABLES LTD.
(Incorporated in the Federation of Malaya)
Manufacturers of Electric Cable Wire and Equipment
Factory and Sales:
Jalan Tandang, Petaling Jaya.
Phone: 5971/5
Tel. Add:-“Malacables” Petaling Jaya
Secretaries & Registered Office: J. A. Russell & Co., Ltd. Hongkong and Shanghai Bank Bldg., Kuala Lumpur
Phone: 84264
Tel. Add:-“Malacables” Petaling Jaya
Directors: P. J. D. Regester, O.B.E., T.D. (Chairman)
L. J. Ransom
D. G. Rawson
General
Manager R. L. Leach, D.C.M., E.M.
Production
Mgr, J. K. O’Neill
Accountant Seow Sui Ching
MALAYAN CEMENT LTD.
(Incorporated in the Federation in Malaya)
Registered Office:
Hongkong & Shanghai Bank Bldg., P. O. Box 245, Kuala Lumpur
Phones: 84264/6
Tel. Add.—“Assoporjar”, Kuala Lumpur
Directors:
J. Drysdale, C. B. E., J. M.N., P. J. K (Chairman)
A. E. Llewellyn
H. R. Villiers
B. M. Brabant
W. T. Dunne
Agents & Secretaries:
J. A. Russell & Co., Ltd. P. O. Box, 245, Kuala Lumpur
Works—Rawang, Selangor.
Phone: 47/8
Works Production Staff:
Works Manager: H. J. Hamilton
Asst. Works Mgr: A. J. G. de Cas
Works Engineer: P. E. Webster
Works Chemist: E. U. Kidav
MALAYAN COLLIERIES, LTD.
(Incorporated in the Federation of Malaya)
Postal Address: Batu Arang, Selangor.
Nearest Railway Station: Batu Arang
Nearest Telegraph Office: Batu Arang
Telephone: Batu Arang Exchange.
For details see Malayan Collieries Ltd in " Mining Companies"
SINTOK WOLFRAM MINES
Postal Address—Sintok, Alor Star, Kedah
Proprietors:
J. A. Russell & Co., Ltd. P. O. Box, 245,
Kuala Lumpur
