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149 Macao companies dissolved in Q1, up 41.9% y-o-y

(Xinhua)
Updated: 2009-05-08 13:48

The number of dissolved companies in Macao reached 149 in the first quarter of 2009, up 41.9 percent year-on-year, with the total value of registered capital amounting to 26 million patacas ($3.3 million), according to the figures released on Thursday by the city's Statistics and Census Service (DSEC).

Among the companies in dissolution, 53 were operating in Wholesale and Retail, 26 in Business Services and 26 in Construction, the DSEC said.

Due to the global economic recession and weakened investor confidence, the number of new companies incorporated in the Special Administrative Region (SAR) dropped by 25.3 percent year-on-year to 547 in the first quarter of 2009, and the total value of registered capital decreased notably by 73.8 percent to 44 million patacas ($5.7 million). Among these new companies, 212 were operating in Wholesale and Retail, 99 in Business Services and 82 (MOP5 million) in Construction.

Some 420 new companies, or 76.8 percent of the total, were incorporated with registered capital of 50,000 patacas ($6,329) or less in the period, while three new companies were incorporated with registered capital of more than one million patacas ($127,000), the corresponding capital value of which accounted for 21.5 percent of the total, according to the DSEC.

Capital of the new companies came mainly from Macao, Hong Kong and the Chinese mainland, the DSEC also said.