Macao records 657 newly incorporated companies in Q2

MACAO, Aug. 7 -- A total of 657 new companies were incorporated in the second quarter of 2009, dropping by 20.4 percent year-on-year, with the total value of registered capital amounting to 81 million patacas (10.3 million U.S. dollars), according to the figures released on Friday by the city's Statistics and Census Service (DSEC).

Among these new companies, 248 were operating in wholesale and retail, 113 in business services and 92 in construction, according to the DSEC figures.

Some 73.1 percent of new companies were incorporated with registered capital of 50,000 patacas (6,329 dollars) or less, while nine new companies incorporated with registered capital of more than one million patacas (126,582 dollars). Over eighty percent of the new incorporations were limited companies.

Capital of the new companies came mainly from Macao, the Chinese mainland and Hong Kong, the amounts of which reached 57 million patacas (7.2 million dollars), 10 million patacas (1.3 million dollars) and five million patacas (632,911 dollars) respectively, according the DSEC.

Meanwhile, number of dissolution of companies in the second quarter of this year was similar to that of a year ago, at 102, with the total value of registered capital amounting to 1.93 billion patacas (244 million dollars).