69. For the sixth successive year the number of new companies incorporated in Hong Kong constituted a new record, the year's total advancing by 169 over the previous year's to 1,420. Of these, 77 were public companies and 1,343 private, and 1,343 were incorporated with a share capital and 77 without. Part I of Table IX gives an analysis of the 1,343 companies with a share capital according to the nature of their business and amount of nominal capital, with the aggregate amount of the nominal capitals of the companies in each category given in the final column. As compared with 1963-64 the most noteworthy changes in the numbers according to business were: up-banking 3 (+3), garment manufacturers 31(+15), hotels and restaurants 73(+16), import and export 293(+23), plastics 41(+16), shipping, etc. 52(+17) and miscellaneous industries 63(+37); down—land and buildings 394 (-7).
70. In 524 cases out of 1,420, that is to say in 37% of all new in- corporations, the papers were submitted by firms of accountants apparently without a solicitor being employed, the necessary statutory declaration of compliance with the requirements of the Ordinance being made by a person named in the articles as a director or secretary.
71. Part II of Table IX gives an analysis of the 77 companies registered without a share capital according to the nature of their objects. All of these were limited by guarantee. In exercise of powers delegated from the Governor, thirteen were granted licences to dispense with the word 'Limited' in their name.
72. For purposes of comparison Table X gives an analysis of the companies registered in the last five years according to the amounts of their nominal capital. This shows that the bulk of the year's increase of 169 registrations was accounted for by an increase of 107 in the $100-500,000 bracket. There were also significant increases of 23, 10 and 9 in the $1-5,000,000, $5-10,000,000, and over $10,000,000 categories respectively. Many companies are incorporated with low capitals pending further developments; for instance, some land developers like to keep a few incorporated companies in stock', the capitals of which are immediately increased as soon as they acquire a piece of land to develop. The aggregate total of all capitals reached the record figure of $1,366,503,540, over $584,000,000 more than the previous year's total.
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