Companies registered in HK record slight increase

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The numbers of registerd companies and oversea companies recorded a slight increase in the first six months this year when compared to the position at the end of 2000, a spokesman for the Companies Registry said today (July 22).

The total number of companies registered under the Companies Ordinance at June 30, 2001 was 513,340, an increase of 0.36% over the position at December 31, 2000. The total number of oversea companies which had established a place of business in Hong Kong under part XI of the Companies Ordinance was 6,286, an increase of 3.17% over the total number at the end of December.

The number of new companies registered during the first six months of 2001 was 19,225, a decrease of 16.28% over the corresponding period of 2000. The number of new oversea companies registered during the first six months was 416, an increase of 0.73% compared with the first six months of 2000.

During the period, the number of charges on the assets of companies received decreased by 3.82% from 11,667 to 11,221 compared with the first six months of 2000. The number of satisfactions and releases received amounted to 9,581, a drop of 3.94% from the same period last year.

Moreover, from January to June this year, a total of 151 prospectuses, including 60 in respect of mutual funds, were registered compared with 158 prospectuses, including 53 in respect of mutual funds, during the corresponding period in 2000.

The number of documents received for filing during the first six months of 2001 compared with that for the same period in 2000 decreased by 6.34% from 757,168 to 709,162. The number of searches on records in microfiche and paper files made by the public during the first six months of 2001 compared with that for the same period in 2000 increased by 6.98% from 796,594 to 852,217.

Regarding the new search services on the computerized database, for the period from January to June, 2001, the number of searches on the computerised Index of Directors was 30,508 whereas the number of Company Particulars Reports issued was 19,768.

The total number of summonses issued by the Registrar of Companies against companies and their directors for breaches of the Companies Ordinance, mainly for failure to file annual returns, in the first six months of 2001 was 102, compared with 121 during the same period in 2000. A total of 28 convictions were obtained in the period compared with 38 in the same period of 2000 and 40 cases remain to be heard by the court (74 in the same period of 2000). The total amount of fines imposed for convictions in the first half year of 2001 was $127,487, compared with $271,951 in the corresponding period in 2000.

Attached below the table of statistics:

Half-yearly statistics of Companies Registry

(Jan-Jun 2001)

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As at 31.12.00 As at 30.6.01

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(% change,

over end '00)

Registered companies 511,503 513,340 (+0.36%)

Oversea companies/

Part XI 6,093 6,286 (+3.17%)

Jan-Jun 2000 Jan-Jun 2001

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(% change,

over Jan-Jun'00)

New companies 22,963 19,225 (-16.28%)

Oversea companies/

Part XI 413 416 (+0.73%)

Charges 11,667 11,221 (-3.82%)

Satisfactions/releases 9,974 9,581 (-3.94%)

Prospectuses 158<53> 151 <60>

Documents for filing 757,168 709,162 (-6.34%)

Searches on microfiche

& paper files 796,594 852,217 (+6.98%)

Summonses 121 102

Conviction 38 28

Cases waiting in court 74 40

Fines (HKD) $271,951 $127,487

End/Sunday, July 22, 2001

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