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Companies Registry celebrates 15th anniversary (with photo)

     The Companies Registry celebrated its 15th anniversary today (August 27) with a reception jointly officiated by the Secretary for Financial Services and the Treasury, Professor K C Chan; the Permanent Secretary for Financial Services and the Treasury (Financial Services), Mr Kevin Ho; and the Registrar of Companies, Ms Ada Chung.

     Speaking at the opening of the reception, Professor Chan praised the efforts the registry had made in enhancing its services to meet the changing needs and expectations of the business community since the Companies Registry Trading Fund was established on August 1, 1993, strengthening Hong Kong's position as an international business and financial centre.

     Citing the implementation of the Integrated Companies Registry Information System (ICRIS) and e-search services in February 2005 as examples, Professor Chan said the successful implementation of new measures has materialised the registry's spirit in pursuing "customer-based" services.

     "I am confident that the Companies Registry will continue its efforts in meeting the challenges ahead," Professor Chan said.

     The Registrar of Companies, Ms Chung, said the ICRIS had marked a significant achievement in transforming the operation of the Companies Registry from a paper-based to an electronic one.  

     Over past years, the Companies Registry has implemented a number of amendments to the Companies Ordinance to modernise the regulatory framework, streamline registration requirements and enhance disclosure requirements.  New incorporation forms were introduced in July this year and details of new companies will be available for search instantly upon their incorporation.

     In recognition of customers' support, Top Customer Awards were presented at the reception to users who had the highest usage of Companies Registry's incorporation and e-search services during 2007-08.

     At the end of July 2008, there were 693,718 companies on the register, an increase of 83.7% as compared with 377,727 companies as at the end of April 1993.  In 2007-08, the number of new local companies registered with the Companies Registry achieved a record high of 101,512, an increase of 69.8% as compared with 59,784 in 1993-94.  The number of documents received for registration in 2007-08 was 1.98 million, an increase of 58.1% compared with 1.25 million in 1993-94.

Ends/Wednesday, August 27, 2008
Issued at HKT 17:00


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