Registrar-Generals-Department-Annual-report-1965-1966 — Page 31

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One of the main reasons for such changes is that many companies are incorporated by solicitors and others and held in stock' for issue to clients when required. The clients then choose a name to their liking and have the old name changed. Similarly the names of real estate companies are often changed when control passes from one syndicate to another. One licence to keep a branch Share Register was granted under Section 103 of the Ordinance.

78. 935 charges were registered by companies securing a total of $715,591,892 and 587 certificates of satisfaction were submitted in re- spect of charges totalling $154,732,289. There was therefore an increase of over $560,000,000 in the amounts of charges subsisting. This does not mean that the amount actually owed by companies and secured by charges increased by that sum, because in many cases charges are granted to secure banking facilities, which may not be utilized up to the full amount for which the property is charged. Over the last four years the apparent increase in the amounts of charges subsisting has been $2,201,000,000.

Companies incorporated outside the Colony

79. 49 companies incorporated outside the Colony established a place of business within the Colony and complied with the provisions of Part XI of the Ordinance. At the end of the year there were 567 such companies registered as compared with 547 the year before. Table XIII shows the countries in which these 567 companies are incorporated. The United States leads with 135 companies, and is followed by the United Kingdom with 98, Japan 59, Federation of Malaysia 58, Panama 35, China 26, Switzerland 24 and Australia 21.

80. Table XIV gives an analysis of the 567 companies to which the preceding paragraph refers according to the nature of their business. This shows that the total includes 129 import and export companies, 83 insurance companies, 43 banks, 40 shipping etc. companies, 30 religious bodies, 26 carriers (air and land), 23 engineering etc. com- panies, and 22 land and building companies.

Liquidations in Progress

81. At the end of the year 191 companies were in the course of being wound up as follows:

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