Companies Registry 2010-11 profit reaches $226mn

The launching the e-Registry has seen 143,797 new companies being incorporated.

The Companies Registry earned an after-tax profit of $226.8 million in 2010-11, according to its annual report tabled in the Legislative Council Wednesday.

The Registrar of Companies who is also Companies Registry Trading Fund General Manager Ada Chung said 143,797 new companies were incorporated in 2010-11 after the registry launched an electronic portal, the e-Registry, according to a government report.

The one-stop electronic service allows companies to be incorporated in less than a day.

Ms Chung said the registry received the 2011 Best SME's Partner Award in facilitating a conducive business environment for the growth of small and medium enterprises in Hong Kong.