Monday, January 8, 1973
RECORD NUMBER OF NEW COMPANIES INCORPORATED
Busy Year At Companies Registry
The high level of business activity in 1972 was reflected in the
operations of the Companies Registry, where many records were again broken.
The Registrar General, Mr. W. Hume, announced today that 4,810
new companies were incorporated in 1972 with nominal capitals totalling
over $5,550 million, both figures being the highest ever recorded for
any year,
The rate of increase in the number and size of companies in recent
years can be guaged by comparing the figures for 1968, when the number
of new companies incorporated was 1,675 with nominal capitals of nearly
3540 million.
Thus in a period of only four years, the number of new companies
incorporated has almost trebled, while the nominal capitals have increased
more than ten times.
Mr. Hume added that in addition to the huge nominal capitals
of the new companies, existing companies increased their capitals by more than $10,458 million, an increase of 218 per cent over the previous record
of $3.291 million in 1971.
Of the companies incorporated in 1972 (with the 1971 figures
in brackets), 1,262 (999) were import and export companies; 844 (676)
were land investment companies, and 668 (290) were finance companies.
/Apart