A total of 338 companies were in the process of closing down in H1

A total of 338 companies were in dissolution on the first half of this year, representing a total value of registered capital of some MOP106 million (US$13.2 million), data published today (Wednesday) by the Statistics and Census Bureau (DSEC) reveals.

However, that number was still 20 per cent lower than the 421 companies that were in the process of closing down by the same period of last year.

Still, during the same period – which coincided with the first stage of the Covid-19 pandemic – the number of newly incorporated companies fell down by 25.6 per cent year-on-year, with 2,438 new companies created and with the total value of newly registered capital falling by 89.4 per cent to MOP360 million.

At the end of the second quarter of 2020, the number of registered companies in Macau totalled 73,540, an increase of 4,498 from a year earlier.

Just yesterday, the Macau SAR Legislative Assembly approved legislation authorising the Government to contract debts up to MOP2.2 billion, to guarantee credit to small and medium-sized enterprises (SMEs) affected by the Covid-19 pandemic