Fewer new companies registered on economic slowdown

Only 2,978 companies registered last month, while 901 companies shut down operations, down by 5.65 per cent from 955 firms in May 2008.

During the first five months, 15,752 firms were registered, down from 18,837 companies during the same period last year.  A total of 4,854 firms were closed in the same period, down 2.31 per cent year on year.