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The number of new companies registered under the Companies Ordinance and the number of new oversea companies registered during the first six months of 2003 recorded a slight increase when compared with the corresponding period in 2002, according to statistics released today (July 31) by the Companies Registry for the first six months of the calendar year 2003.

The Companies Registry figures showed that the number of new companies registered during the first six months of 2003 was 24,151, an increase of 4.08% over the corresponding period of 2002. The total number of companies registered under the Companies Ordinance at the end of June 2003 was 495,772, a decrease of 1.46% over the position at 31 December 2002.

The total number of oversea companies which had established a place of business in Hong Kong under Part XI of the Companies Ordinance at the end of June 2003 was 6,858, an increase of 2.21% over the total number at the end of December 2002. The number of new oversea companies registered during the first six months of 2003 was 364, an increase of 9.31% compared with the first six months of 2002.

The number of charges on the assets of companies received in the first six months of 2003 decreased by 6.72% from 10,386 to 9,688 compared with the first six months of 2002. The number of satisfactions and releases received amounted to 7,559 in the first half year of 2003, a drop of 11.71% from the same period last year.

During the period, a total of 121 prospectuses, including 57 in respect of mutual funds, were registered compared with 203 prospectuses, including 90 in respect of mutual funds, during the corresponding period in 2002.

The number of documents received for filing during the first six months of 2003 compared with that for the same period in 2002 decreased by 1.08% from 751,882 to 743,767. The number of searches on records in microfiche and paper files made by the public during the first six months of 2003 compared with that for the same period in 2002 decreased by 6.75% from 813,367 to 758,480.

Regarding the search services on the computerized database, the number of searches on the computerized Index of Directors during the first six months of 2003 compared with the corresponding period in 2002 increased by 14.27% from 47,088 to 53,809 whereas the number of Company Particulars Report issued increased by 67.69% from 23,515 to 39,432.

The total number of summonses issued by the Registrar of Companies against companies for breaches of the Companies Ordinance, mainly for failure to file annual returns, in the first six months of 2003 was 272. There were 136 convictions obtained in the period and 80 cases remain to be heard by the court. The total amount of fines imposed for convictions in the first half year of 2003 was $871,886.

End/Thursday, July 31, 2003

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