XN000022-1988-07-15 — Page 14

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FRIDAY, JULY 15, 1988

THE NUMBER OF OVERSEAS COMPANIES BUSINESS IN HONG KONG UNDER PART XI DURING

ESTABLISHING A PLACE OF

THE FIST SIX MONTHS OF 1988 WAS 119, AN INCREASE OF 4 PER CENT OVER THE NUMBER OF SUCH COMPANIES DURING THE FIRST SIX MONTHS OF 1987.

NO SEPARATE STATISTICS ARE MAINTAINED ON HOW MANY OVERSEAS COMPANIES INCORPORATE LOCAL SUBSIDIARIES OR TAKE UP A MAJORITY SHAREHOLDING IN A HONG KONG COMPANY.

IN THE FIRST HALF YEAR OF 1988 EXISTING COMPANIES INCREASED THEIR NOMINAL CAPITAL BY $23,088 MILLION, A DECREASE OF 5 PER CENT OVER THE INCREASE OF $24,366 MILLION DURING THE SAME PERIOD OF 1987, WHILE THE NOMINAL CAPITAL OF NEW COMPANIES INCORPORATED DURING JANUARY TO JUNE 1988 INCREASED BY 29 PER CENT FROM $1,957 MILLION TO $2,518 MILLION COMPARED WITH THE SAME PERIOD IN 1987.

THE TOTAL AMOUNT SECURED BY CHARGES REGISTERED ON THE ASSETS OF COMPANIES DECREASED BY 12 PER CENT FROM $32,912 MILLION TO $29,001 MILLION, AND THE NUMBER OF CHARGES FILED IN THE FIRST SIX MONTHS OF 1988 HAD INCREASED BY 12 PER CENT FROM 10,016 то 11,210 OVER THE FIRST SIX MONTHS OF 1987.

THE AMOUNT REPAID ON CHARGES, AS EVIDENCED BY CERTIFICATES OF SATISFACTION, DECREASED BY 4 PER CENT FROM $4,271 MILLION TO $4,085 MILLION AND THE NUMBER OF CERTIFICATES HAD INCREASED BY 36 PER CENT FROM 4,556 TO 6,203 IN THE SAME PERIOD.

DURING THE PERIOD, A TOTAL OF 63 PROSPECTUSES OF PUBLIC COMPANIES, INCLUDING 29 IN RESPECT OF MUTUAL FUNDS, WERE APPROVED AS AGAINST 57 PROSPECTUSES, INCLUDING 22 IN RESPECT OF MUTUAL FUNDS, APPROVED DURING THE CORRESPONDING PERIOD IN 1987.

THE NUMBER OF DOCUMENTS RECEIVED FOR FILING DURING THE FIRST SIX MONTHS OF 1988 AS COMPARED WITH THAT FOR THE SAME PERIOD IN 1987 INCREASED BY 15 PER CENT FROM 291,832 TO 336,675.

OF RESERVATION

THE NUMBER OF ENQUIRIES FOR AVAILABILITY

OF NAMES DURING THE FIRST SIX MONTHS OF 1988 WAS 115,718 WHICH WAS A 24 PER CENT INCREASE OVER 93,289 IN THE CORRESPONDING PERIOD OF 1987, AND A 22 PER CENT INCREASE OVER 95,071 IN THE JULY 1987 DECEMBER 1987 PERIOD.

THE TOTAL NUMBER OF SUMMONSES 1SSUED 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 1988 WAS 162, COMPARED WITH 111 DURING THE SAME PERIOD IN 1987.

DURING THE PERIOD 12 SUMMONSES WERE WITHDRAWN {FOR REASONS SUCH AS NON-SERVICE); 119 RESULTED IN CONVICTIONS COMPARED WITH 164 IN THE SAME PERIOD OF 1987; AND 116 REMAIN TO BE HEARD BY THE COURT COMPARED WITH 118 IN THE SAME PERIOD OF 1987.

THE TOTAL