****************************************************
The number of local and non-Hong Kong companies registered under the Companies Ordinance increased during the first six months of 2008 compared with the corresponding period of 2007, according to statistics released by the Companies Registry today (July 21).
The number of new local companies registered during the first six months of 2008 was 52,824, an increase of 11.4% from 47,417 in the corresponding period of 2007.
The number of new non-Hong Kong companies that had established a place of business in Hong Kong and registered under Part XI of the Companies Ordinance in the first six months of 2008 was 460, an increase of 45.57% from 316 in the corresponding period of 2007.
As at the end of June 2008, the total number of live companies registered under the Companies Ordinance was 687,865, up 32,827 from the end of 2007. The total number of non-Hong Kong companies registered under Part XI of the Companies Ordinance stood at 8,326 by the end of June 2008, 245 more than the total number at the end of 2007.
The number of charges on the assets of companies received in the first six months of 2008 increased by 33.73%, to 23,251 from 17,386 for the same period last year. The numbers of memoranda of satisfactions and releases of properties from charges received increased by 32.24% to 15,492 in the first half of 2008.
A total of 100 prospectuses, including 34 mutual funds, were registered in the first six months of 2008, compared with 132 prospectuses, including 55 mutual funds, during the corresponding period in 2007.
The total number of documents received for filing during the first six months of 2008 increased by 12.03%, to 1,041,024 from 929,225.
The number of searches of document image records through the Companies Registry's Electronic Search Services in the first half of 2008 increased by 11.1%, to 1,572,993 when compared with 1,415,805 searches during the corresponding period in 2007.
The number of searches of the computerised Index of Directors during the first six months of 2008 increased by 36.4%, to 116,342 from 85,297. The number of Company Particulars Reports issued increased by 26.76% from 62,397 for the same period in 2007 to 79,096.
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, during the first six months of 2008 was 2,884, a decrease of 3.61% compared with 2,992 for the corresponding period in 2007. Of these, 905 cases remain to be heard by the courts, compared with 837 during the corresponding period in 2007.
During the first half of 2008, 1,023 convictions were obtained, compared with 1,111 during the corresponding period in 2007. The total amount of fines imposed for convictions in the first half of 2008 was $6,534,100, compared with $6,173,849 during the corresponding period in 2007.
Ends/Monday, July 21, 2008
Issued at HKT 15:00
NNNN
