XN000022-1989-01-17 — Page 2

TUESDAY. JANUARY 17, 1989

COMPANIES REGISTRY FIGURES SHOW INCREASES

FIGURES FOR THE COMPANIES REGISTRY OF THE REGISTRAR DEPARTMENT INDICATE MAJOR INCREASES IN ACTIVITY IN SOME MINOR DECREASES IN OTHERS IN 1988 WHEN COMPARED WITH 1987.

GENERAL'S

AREAS AND

THIS WAS REPORTED BY THE REGISTRAR GENERAL. MR NOEL GLEESON,

IN RELEASING THE FIGURES TODAY (TUESDAY).

THE FIGURES SHOWED THAT THE TOTAL NUMBER OF COMPANIES NOW REGISTERED UNDER THE COMPANIES ORDINANCE HAD INCREASED BY 15 PER CENT FROM 185,588 TO 213,515.

THE NUMBER OF NEW COMPANIES REGISTERED DURING THE YEAR HAD INCREASED BY 16 PER CENT FROM 26.380 TO 30,474.

THE TOTAL NUMBER OF OVERSEAS COMPANIES WHICH HAD AN ESTABLISHED PLACE OF BUSINESS IN HONG KONG UNDER PART XI OF THE COMPANIES ORDINANCE AT THE END OF THE YEAR INCREASED BY THREE CENT FROM 2,289 TO 2,348.

+

THE NUMBER OF NEW OVERSEAS COMPANIES

PER

THAT HAD ESTABLISHED A 250, AN

PLACE OF BUSINESS IN HONG KONG UNDER PART XI DURING 1988 WAS INCREASE OF FOUR PER CENT OVER THE NUMBER OF SUCH COMPANIES IN 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.

EXISTING COMPANIES INCREASED THEIR NOMINAL CAPITAL BY $45,052 MILLION, A DECREASE OF EIGHT PER CENT FROM THF INCREASE OF $48.995 MILLION EN 1987, WHILE THF NOMINAL CAPITAL OF NEW COMPANIES INCORPORATED DURING THE YEAR INCREASED BY SIX PER CENT FROM $4,133 MILLION TO $4,400 MILLION.

THE TOTAL AMOUNT SECURED BY CHANGES REGISTERED ON THE ASSETS OF COMPANIES INCREASED BY 17 PER (NET FROM $65,187 MILLION TO $76,515 MILLION WHILE THE AMOUNT REPAID ON CHARGES, AS EVIDENCED BY CERTIFICATES OF SATISFACTION, DECREASED BY 19 PER CENT FROM $9.349 MILLION TO $7,539 MILLION.

A

DURING THE YEAR,

TOTAL L ** 153 PROSPECTUSES OF PUBLIC COMPANIES, INCLUDING 67 IN RESPECT OF MUTUAL FUNDS, WERE APPROVED COMPARED WITH 155 PROSPECTUSES, INCLUDING 68 IN RESPECT OF MUTUAL FUNDS, DURING THE PREVIOUS YFAR.

THE TOTAL NUMBER OF DOCUMENTS RECEIVED FOR FILING DURING THE YEAR INCREASED BY 22 PER CENT FROM 566,815 TO 692,571.

THE NUMBER OF APPLICATIONS FOR THE RESERVATION OF NEW COMPANY NAMES DURING 1988 WAS 240,679 WHICH WAS A 28 PER CENT INCREASE OVER 188,360 IN 1987.

/ON THE