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| Sunday, 18 January 2004 |
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| News Business Features Editorial
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Record number of company registrations The Department of Registrar has been successful last year in incorporating the highest number of companies under the Companies Act since 1982, Registrar of Companies D.K. Hettiarachchi said. The Department, at the end of 2003, had incorporated 4526 companies, a growth of 29.24 per cent compared to the 3502, the previous best recorded in 2002. When considering the type of companies registered last year, the highest number fell under the private category at 3630. In the previous year, this stood at 2885. The trend has been the same since 1982. During 2003, the incorporation of associations and public companies ranked in second and third place respectively with 111 and 91 incorporations. The Institution also earned a massive income of Rs 135.91 million during 2003 with March bringing the highest monthly income with Rs 14.39 million while February ranked second with Rs 12.17 million. Meanwhile, Minister of Commerce and Consumer Affairs Ravi Karunanayake commended the officials of the Department of Registrar for this achievement and instructed them to see ways and means of simplifying the procedure of incorporation, so that it will help the public immensely. |
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