THURSDAY, JULY 23, 1987
THE TOTAL NUMBER OF OVERSEA COMPANIES WHICH HAD ESTABLISHED A PLACE OF BUSINESS IN HONG KONG UNDER PART XI AT THE END OF JUNE 1987 AS COMPARED WITH THE TOTAL NUMBER AT THE END OF DECEMBER 1986 INCREASED BY 0.3 PER CENT FROM 2,238 TO 2,244. THE NUMBER OF OVERSEA COMPANIES ESTABLISHING A PLACE OF BUSINESS IN HONG KONG UNDER PART XI DURING THE FIRST SIX MONTHS OF 1987 WAS 114, A DECREASE OF 25 PER CENT OVER THE NUMBER OF SUCH COMPANIES DURING THE FIRST SIX MONTHS OF 1986. NO SEPARATE STATISTICS ARE MAINTAINED ON HOW MANY OVERSEA COMPANIES INCORPORATE LOCAL SUBSIDIARIES OR TAKE UP A MAJORITY SHAREHOLDING IN A HONG KONG COMPANY.
IN THE FIRST HALF YEAR OF 1987 EXISTING COMPANIES INCREASED THEIR NOMINAL CAPITAL BY $24,366 MILLION, AN INCREASE OF 177 PER CENT OVER THE INCREASE OF $8,811 MILLION IN THE SAME PERIOD OF 1986, WHILE THE NOMINAL CAPITAL OF NEW COMPANIES INCORPORATED DURING JANUARY JUNE 1987 INCREASED BY 8 PER CENT FROM $1,819 MILLION TO $1,957 MILLION COMPARED WITH THE SAME PERIOD IN 1986.
THE TOTAL AMOUNT SECURED BY CHARGES REGISTERED ON THE ASSETS OF COMPANIES INCREASED BY 60 PER CENT FROM $20,568 MILLION TO $32,912 MILLION AND THE NUMBER OF CHARGES FILED IN THE FIRST SIX MONTHS OF 1987 HAD INCREASED BY 47 PER CENT FROM 6,823 TO 10,016 OVER THE FIRST SIX MONTHS OF 1986, WHILE THE AMOUNT REPAID ON CHARGES, AS EVIDENCED BY CERTIFICATES OF SATISFACTION, DECREASED BY 44 PER CENT FROM $7,593 MILLION TO $4,271 MILLION, AND THE NUMBER OF CERTIFICATES HAD INCREASED BY 0.5 PER CENT FROM 4,535 TO 4,556 IN THE SAME PERIOD.
DURING THE PERIOD, A TOTAL OF 57 PROSPECTUSES OF PUBLIC COMPANIES, INCLUDING 22 IN RESPECT OF MUTUAL FUNDS, WERE APPROVED AS AGAINST 48 PROSPECTUSES, INCLUDING 27 IN RESPECT OF MUTUAL FUNDS, DURING THE CORRESPONDING PERIOD IN 1986.
THE NUMBER OF DOCUMENTS RECEIVED FOR FILING DURING THE FIRST SIX MONTHS OF 1987 AS COMPARED WITH THAT FOR THE SAME PERIOD IN 1986 INCREASED BY 18 PER CENT FROM 247,974 TO 291,832.
THE NUMBER OF ENQUIRIES FOR AVAILABILITY OF RESERVATION OF NAMES DURING THE FIRST SIX MONTHS OF 1987 WAS 93,289 WHICH WAS 47 PER CENT INCREASE FROM THE CORRESPONDING PERIOD OF 63,481 FOR 1986, AND A 26 PER CENT INCREASE OVER THE JULY 1986
DECEMBER 1986 PERIOD OF 74,034.
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 WITH ACCOUNTS, IN THE FIRST SIX MONTHS OF 1987 WAS 111, COMPARED WITH 200 DURING THE SAME PERIOD IN 1986.
WITHDRAWN (E.G. BECAUSE
DURING THE PERIOD, 37 SUMMONSES WERE OF NON-SERVICE), 164 RESULTED IN CONVICTIONS COMPARED WITH 163 IN THE SAME PERIOD OF 1986 AND 118 REMAIN TO BE HEARD BY THE COURT (129 IN THE SAME PERIOD OF 1986).
THE TOTAL .****