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According to the annual statistics released by the Companies Registry today (January 23), the number of new local companies registered in 2008 decreased by 2.1%, from 100,761 in 2007 to 98,645. By the end of 2008, the total number of live local companies registered under the Companies Ordinance was 710,766, up 55,728 from that in 2007.
As regards non-Hong Kong companies that have established a place of business in Hong Kong, 872 had registered under Part XI of the Companies Ordinance in 2008, an increase of 16.58% from 748 in 2007. The total number of non-Hong Kong companies stood at 8,487 at the end of last year, 406 more than in 2007.
The number of charges on the assets of companies received for registration in 2008 was 38,933, an increase of 1.11% from 38,506 in 2007. The number of memoranda of satisfactions and releases received for registration increased by 17.44% to 28,504 in 2008.
In 2008, a total of 153 prospectuses, including those from 44 mutual funds, were registered, compared with 259 prospectuses, including 82 of them from mutual funds, in 2007.
The total number of documents received for filing last year decreased by 4.1% to 1,859,205.
A total of 3,015,954 searches of document image records were conducted through the Companies Registry's Electronic Search Services in 2008, an increase of 3.78% from 2,906,186 in 2007. The number of searches of the computerised Index of Directors in 2008 increased by 26.97% to 237,764, from 187,264 in 2007. The number of Company Particulars Reports issued increased by 16.86% to 157,325 in 2008.
The total number of summonses issued by the Registrar of Companies last year against companies for breaches of the Companies Ordinance, mainly for failure to file annual returns, was 5,442, a decrease of 11.15% from 6,125 in 2007. Of these, 448 cases remain to be heard by the courts as at the end of 2008. Of those cases heard in the courts, 1,797 convictions were obtained, compared with 2,190 in 2007. The total amount of fines imposed for convictions in 2008 was $15,907,505, compared with $13,516,239 in 2007.
Ends/Friday, January 23, 2009
Issued at HKT 15:00
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