There were 98,645 new local companies registered in 2008, a 2.1% fall on 2007, the Companies Registry announced today.

The total number of live local companies registered under the Companies Ordinance at the end of last year was 710,766, up by 55,728 on 2007.

There were 872 non-Hong Kong companies registered under Part XI of the Companies Ordinance during the year, a 16.58% rise from 748 in 2007. The total number of non-Hong Kong companies stood at 8,487, up by 406 on 2007.

There were 153 prospectuses, including those from 44 mutual funds, registered last year, compared with 259 prospectuses, including 82 from mutual funds, in 2007.

The total number of documents received for filing fell 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, a 3.78% rise.

The number of searches of the computerised Index of Directors grew by 26.97% to 237,764, from 187,264 in 2007, while the number of Company Particulars Reports issued rose 16.86% to 157,325.

The total number of summonses issued by the Registrar of Companies last year against firms for breaches of the Companies Ordinance, mainly for failure to file annual returns, was 5,442, a fall of 11.15% from 6,125 in 2007. Of these, 448 cases remained to be heard by the courts at the end of 2008. Of the cases heard, 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.