XN000022-1988-01-08 — Page 2

FRIDAY, JANUARY 8, 1988

1

1987 BUSY YEAR FOR COMPANIES REGISTRY

MAJOR INCREASES OF ACTIVITY IN MOST AREAS AND

THE COMPANIES

IN OTHERS WERE RECORDED FOR 1987 BY REGISTRAR GENERAL'S DEPARTMENT.

MINOR DECREASES REGISTRY OF

THE

(FRIDAY) SHOWED COMPANIES

THE COMPANIES REGISTRY FIGURES RELEASED TODAY THAT THE TOTAL NUMBER OF COMPANIES NOW REGISTERED UNDER THE ORDINANCE HAD INCREASED BY 15 PER CENT FROM 161,986 IN 1986 TO 185,588 LAST YEAR.

REGISTERED DURING THE YEAR HAD

THE NUMBER OF NEW COMPANIES INCREASED DRAMATICALLY BY 58 PER CENT FROM 16,743 TO 26,380.

THE

TOTAL

NUMBER

OF

OVERSEAS IN HONG

HAD AN WHICH COMPANIES

PART KONG UNDER

XI OF ESTABLISHED PLACE OF BUSINESS

THE BY 2 PER CENT COMPANIES ORDINANCE AT THE END OF THE YEAR INCREASED FROM 2,238 TO 2,289.

A 240, A

THE NUMBER OF NEW OVERSEAS COMPANIES ESTABLISHING BUSINESS IN HONG KONG UNDER PART XI DURING 1987 WAS OF 17 PER CENT OVER THE NUMBER OF SUCH COMPANIES IN 1986.

NO SEPARATE STATISTICS ARE

PLACE OF DECREASE

MAINTAINED ON HOW MANY OVERSEAS LOCAL SUBSIDIARIES OR TAKE UP COMPANIES

A MAJORITY

SHAREHOLDING IN A HONG KONG COMPANY.

INCORPORATE

BY $48,995 EXISTING COMPANIES INCREASED THEIR NOMINAL CAPITAL

INCREASE

OVER THE INCREASE OF 187 PER MILLION, AN $17,079 MILLION IN 1986.

CENT

OF

THE NOMINAL CAPITAL OF NEW COMPANIES

INCORPORATED DURING THE

YEAR INCREASED BY 23 PER CENT FROM $3,356 MILLION TO $4,133 MILLION.

ON THE ASSETS $65,487

THE TOTAL AMOUNT SECURED BY CHARGES REGISTERED OF COMPANIES INCREASED BY 15 PER CENT FROM $56,786 MILLION TO

AS EVIDENCED BY MILLION WHILE THE

REPAID ON CHARGES, AMOUNT

DECREASED BY 19 PER CENT SATISFACTION, OF

FROM CERTIFICATES $11,492 MILLION TO $9,349 MILLION.

DURING THE

YEAR

OF

PUBLIC A TOTAL OF 155 PROSPECTUSES

APPROVED AS COMPANIES, INCLUDING 68 IN RESPECT OF MUTUAL FUNDS, WERE

RESPECT OF MUTUAL FUNDS, AGAINST 106 PROSPECTUSES, INCLUDING 55 IN DURING THE PREVIOUS YEAR.

FILING DURING THE

THE TOTAL NUMBER OF DOCUMENTS RECEIVED FOR YEAR INCREASED BY 19 PER CENT FROM 477,912 TO 566,815.

NEW COMPANY CENT INCREASE OVER

THE NUMBER OF APPLICATIONS FOR THE RESERVATION OF NAMES DURING 1987 WAS 188,360 WHICH WAS A 37 PER 137,515 IN 1986.

/ON THE