AUSTRALIAN COMPANY

Evening Post, Volume CXI, Issue 100, 30 April 1931, Page 14

AUSTRALIAN COMPANY

TRANSFERRED TO MALAYA

Standard Waygood, Ltd., Sydney, an engineering company, discloses a loss of £589 for the year ended 31st March, against a profit of £9720 for the previous your. This reduces the orcdit balance brought forward to £21,127, which is carried forward. Last year the dividend paid was o per cent. This year nil. The directors' report states that the principal changes in the balance-sheet are the result of efforts to conserve such of the company's assets as arc not necessarily affected by the depreciation of Australian currency. The directors further report during the year the liquidation of M'Culla's, Ltd., with little prospect of more than a few shillings per lharc return to shareholders; Weymouth's, Ltd. (in liquidation) returned 30s per share, and its final dividend, if any, will be trifling. Lift Inspection and; lusiiiance, Ltd., still figures among the investments. "It is shown for the first, time at its- net calve, the amount loaned by it to Standard Waygood having been deducted from the investment, instead of appearing among creditors. It is worth the figure at which we value it. So is our investment in-Stan-way, Ltd. We had invested surplus cash irincipally in British Government bonds that it might be available at short notice to take advantage of opportunities here. But. present .conditions do not favour further investment in Australia. So a comnany has been registered in Tpoh, Perak .Federated Malay States), under the name nf Stanway, Ltd., to which these overseas investments have been transferred. The diminished figures of work in progress and book debts indicate the falling off in business. These assets are good, but property, plant, etc., which one day can be used profitably again, may prove a sounder investment than moneys owing, cither For uncompleted or for completed, contracts."