FUEMSSO News Service 21.4.75 Foreign Tin Companies Profit Increases

Ayer Hitam Tin Dredging Ltd., incorporated in England, had a net profit of 815,000 pounds for the first half-year to 31 December, 1974, compared with a profit of 335,000 pounds in 1973. Another UK-incorporated Tin Company, Tronoh Tin Mines Ltd, had a net profit of 1,735,000 pounds in 1974 compared with 422,000 pounds in 1973. (Annual Company Reports). All these profits - in the form of capital generated and dividends payable - are repatriated to UK. Yet the former UK Chancellor of the Exchequer, Lord Anthony Barber stated that foreign investments would continue to flow into this country as long as the [Malayasian] government provided clear policy guidelines and encouragement to overseas investors (New Straits Times, 19.3.75). Lord Barber is Chairman of the Standard and Chartered Banking Group Ltd., whose chartered bank - the oldest and largest foreign bank in Malaysia and Singapore - is the prime agent in the transaction and transfer of profits to UK.