Biolab proposes higher dividend

Press, 29 June 1982, Page 20

Biolab proposes higher dividend

PA Auckland Smith Biolab, Ltd. proposes to increase its dividend rate for the March 31 year from 17 per cent to 18 per cent, after earning a 40.8 per cent higher $1,338,000. The directors said that their recommendation of a final 11 per cent on capital increased by last year’s bonus and cash issues will be subject to Reserve Bank approval. New ordinary shares issued with the conversion of the company's specified preference shares do not rank for the final.

Group sales for the year rose 44.5 per cent to $25,919,000 — with exports 29.4 per cent up at $998,000.

The directors said that Wilton Scientific, Ltd, which was a loss-maker when acquired in the 1981 financial year, is now a good contributor to profit.

Tax requires $338,000 more at $946,000, and a revaluation of land and buildings and major plant at March 31, increased shareholders' funds by $453,000. The return on funds after the revaluation was 18.2 per cent (19.4 per cent before the revaluation) compared with last years 19.2 per cent. The earning rate on capital was steady at 42 per cent (42.3 per cent) and the ordinary dividend took $95,000 more at $382,000. Capital losses were $21,000 ($1000).

Fletcher Construction (Singapore) Pte. Ltd, has been awarded a $2l million contract to build a new computer centre for Singapore Airlines. The order, won on tender, is the second major construction job won by Fletcher in Singapore since the New Zealand-owned company opened a South East Asia regional office there last vear.

As with the huge $B6 million contract for phase one of the Kent Ridge Hospital. Fletcher has teamed up with Singapore's Lum Chang Building Contractors Pte. Ltd. for the airline project in a 70 per cent Fletcher — 30 per cent Lum Chang joint venture. Construction

on the computer centre, to he located near the new Changi Airport, will begin this month, with completion due at the end of 1983. The centre will be fully functional in the first quarter of 1984.

The 13.000 square metre, two-storey building has been designed by Indeco of Singapore and will be of concrete block walls with profiled metal roo’fing.

The contract includes the installation of complex mechanical and electrical services. The upper floor computer hall air conditioning system will have stringent humidity, temperature and impurity control provided by multiple, free-

stand water-cooled air-hand-ling units. Chilled water will be piped to these units from remotely-located chiller plants which also will allow for direct water cooling, a feature common to "new generation" computers.

To ensure a continuous operation, the centre's computers will be linked to a sophisticated, solid-state, uninterruptible power system. The centre will also be equipped with highly sensitive heat detectors. The computer hall will have a radon-inert-gas fire control system, and the lower level offices will be protected by conventional water sprinklers. The physical security of the building will be monitored by

a mini-computer system. The Fletcher-Lum Chang joint venture is meanwhile making steady progress on the $B6 million. 485-bed Kent Ridge Hospital contract which is on target for completion in mid-1984. Additionally. Fletcher recently began work on a $340,000 contract to construct foundations for a 10-storey carpark, office and shopping centre to be built in central Singapore city for the Urban Redevelopment Authority.

Fletcher's Singapore office is headed by regional manager Mr Maurice Clark, formerly of Wellington, and; includes a staff of senior, construction personnel from; New Zealand and Singapore. ■