"The overall score was unchanged from last year. Despite a tightening in S&P's scoring standard, HKEx achieved a higher score in Board & Management Structure & Process (8.3 out of 10 against 8.0 out of 10 of last year), and a marginal reduction in score in Financial Transparency and Information (9.0 out of 10 against 9.3 out of 10 of last year). This marginal reduction results from a tightening of the criteria used by S&P in the scoring process and is not a reflection of any deterioration in the financial transparency or information of HKEx. There is no change in the score for Ownership Structure & Influence, and Financial Stakeholder Relations," said Charles Lee, chairman of HKEx.
"Our overall score of 8.3 out of 10 reflected HKEx's continued efforts to maintain and build upon its already strong corporate governance standards," he said.
S&P said HKEx had further reinforced its governance processes, and the unchanged overall score reflected its strong corporate governance practices under the rapidly evolving nature of corporate governance global best practices.
Katrina Tai, S&P's director, Governance Services, said HKEx had adopted a number of corporate practices since last year which confirmed its strong commitment to good corporate governance practices.
This is the second year that HKEx has invited S&P to give an independent assessment of its corporate governance. "We are gratified by the outcome," said Mr Lee. "We have noted the comments in the S&P report and will take action in areas where we may need to improve," he said.
The full analysis of HKEx is available on the Standard & Poor's website http://www.standardandpoors.com/Forum/RatingsAnalysis/CorporateGovernance/index.html. The full analysis of HKEx is available on the Standard & Poor's website http://www.standardandpoors.com/Forum/RatingsAnalysis/CorporateGovernance/index.html .
