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THURSDAY, JANUARY 10, 1991

1990 COMPANIES REGISTRY FIGURES RELEASED

FIGURES RELEASED BY THE COMPANIES REGISTRY OF THE REGISTRAR GENERAL'S DEPARTMENT TODAY (THURSDAY) INDICATED INCREASES OF ACTIVITY IN SOME AREAS AND DECREASES IN OTHERS FOR THE CALENDAR YEAR 1990 COMPARISON WITH 1989.

SAID

BY

THE REGISTRAR GENERAL, MR NOEL GLEESON,

THE COMPANIES REGISTRY FIGURES SHOWED THAT THE TOTAL NUMBER OF COMPANIES NOW REGISTERED UNDER THE COMPANIES ORDINANCE HAD INCREASED BY NINE PER CENT FROM 242,709 TO 265,452 WHILE THE NUMBER OF NEW COMPANIES REGISTERED DURING THE YEAR HAD DECREASED BY 17 PER CENT FROM 31,674 TO 26,147.

THE TOTAL NUMBER OF OVERSEAS COMPANIES WHICH HAD AN ESTABLISHED PLACE OF BUSINESS IN HONG KONG UNDER PART ΧΙ OF THE COMPANIES ORDINANCE AT THE END OF THE YEAR INCREASED BY SEVEN PER CENT FROM 2,464 TO 2,635.

THE NUMBER OF NEW OVERSEAS COMPANIES ESTABLISHING A BUSINESS IN HONG KONG UNDER PART XI DURING 1990 WAS 350, AN OF 32 PER CENT OVER THE NUMBER OF SUCH COMPANIES IN 1989.

NO

SEPARATE STATISTICS ARE MAINTAINED ON HOW MANY COMPANIES INCORPORATE LOCAL SUBSIDIARIES OR TAKE UP A SHAREHOLDING IN A HONG KONG COMPANY.

PLACE OF INCREASE

OVERSEAS MAJORITY.

$33,122

EXISTING COMPANIES INCREASED THEIR NOMINAL CAPITAL BY MILLION, AN INCREASE OF 21 PER CENT OVER THE INCREASE OF $27,406 MILLION IN 1989, WHILE THE NOMINAL CAPITAL OF NEW COMPANIES INCORPORATED DURING THE YEAR DECREASED BY SIX PER CENT FROM $3,371 MILLION TO $3,163 MILLION.

THE TOTAL AMOUNT SECURED BY CHARGES REGISTERED ON THE ASSETS OF COMPANIES DECREASED BY SIX PER CENT FROM $89,334 MILLION TO $84,100 MILLION WHILE THE AMOUNT REPAID ON CHARGES, AS EVIDENCED BY CERTIFICATES OF SATISFACTION, DECREASED BY 10 PER CENT FROM $13,415

MILLION TO $12,022 MILLION.

DURING THE YEAR A TOTAL OF 154 PROSPECTUSES OF PUBLIC COMPANIES, INCLUDING 88 IN RESPECT OF MUTUAL FUNDS, WERE APPROVED COMPARED WITH 127 PROSPECTUSES, INCLUDING 65 IN RESPECT OF MUTUAL FUNDS, DURING THE PREVIOUS YEAR.

THE TOTAL NUMBER OF DOCUMENTS RECEIVED FOR FILING DURING THE YEAR DECREASED BY FIVE PER CENT FROM 842,763 TO 797,180.

THE NUMBER OF APPLICATIONS FOR THE RESERVATION OF NEW COMPANY NAMES DURING 1990 WAS 155,569 WHICH WAS A 20 PER CENT DECREASE OF 194,765 IN 1989.

THE DECREASE IN THE NUMBER OF APPLICATIONS IS PARTLY BECAUSE SECTION 11 OF THE COMPANIES (AMENDMENT) (NO.5) ORDINANCE 1990 CAMB INTO OPERATION ON NOVEMBER 30, 1990 AND NO NAME ACCEPTED FROM DECEMBER 1, 1990.

APPLICATIONS

WERE

/THE FIGURES