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New kid on the block

The incorporation of a single large fund capital company led to a 5,104 per cent year-on-year spike in the total value of registered capital in the second quarter of this year to MOP7.3 billion

The incorporation of just one fund company led to a massive 5,104 per cent yearly increase in the total value of registered capital in the second quarter of this year to MOP7.3 billion, up from MOP123 million in the same period last year, official data from the Statistics and Census Service (DSEC) showed on Friday.
At the beginning of June, the US$1 billion (MOP8 billion) fund for cooperation and development between China and Portuguese-speaking countries officially launched its headquarters in Macau, with the creation of a locally registered company in May named Fundo de Cooperação e Desenvolvimento China-Países de Língua Portuguesa de Sociedade Limitada to manage the fund.
The name of the fund company wasn’t disclosed in the DSEC data and the Commercial Registration department of the Legal Affairs Bureau (DSAJ) wasn’t able to confirm if the newly incorporated large fund company was the Lusophone fund by the time this newspaper went to print.

Newcomers to the city
The number of new incorporations in the MSAR between April and June also went up considerably by 88 per cent year-on-year in the second quarter of this year, with 1,229 newly incorporated companies.
In terms of the amount of registered capital, 72.5 per cent of the new companies registered in the MSAR had capital under MOP50,000 in the second quarter of this year, with their total value of capital accounting for only 0.9 per cent of the total, or MOP23 million.
Meanwhile, only 27 new companies were registered with capital of MOP1 million or above, however their total capital value reached MOP7.2 billion or 99.1 per cent of the total value.
The majority of registered capital came from Hong Kong, almost MOP4.2 billion or 57.5 per cent of the total capital, with MOP3 billion or 41.1 per cent originating in the MSAR.
According to the DSEC, the origin of capital for 196 of the new companies registered between April and June was mainland China, totaling almost MOP60 million.
Of this total, some MOP39 million came from 152 companies from the nine provinces of the Pan-Pearl River Delta.
Analysed by industry, there were 378 new companies operating in the wholesale & retail industry, and 309 providing business services, with the value of registered capital amounting to MOP45 million and around MOP50 million, respectively.
Of the new companies, 849 were set up with solely local shareholders, while 223 were by foreign shareholders of just one country.
Some 135 new companies had a combination of shareholders from Macau and other countries, and 22 had other combinations of shareholders.
In the second quarter of this year a total of 195 companies were in dissolution, with the total registered capital in dissolution amounting to MOP30 million.

The year so far
In the first half of 2017, the number of newly incorporated companies went up by almost 20 per cent yearly to 2,701, with the total value of capital going up 2,737 per cent yearly to MOP7.5 billion.
In the first six months of this year, 418 companies were in the process of being dissolved, with the value of registered capital of companies in dissolution amounting to MOP86 million.