Hong Kong Exchanges and Clearing Limited (HKEx) is pleased with the corporate governance score of 8.3 (out of a possible maximum score of 10) assigned by Standard and Poors in the latters corporate governance evaluation of HKEx.

"I was particularly pleased with our score of 9.3 out of 10 for financial transparency and information disclosure," said Charles Lee, chairman of HKEx. "We are also pleased with the scores of 8 out of 10 for Ownership structure and influence, Financial stakeholders relations, and Board structure and process. Though they show that there is still room for improvement, the scores are to some extent constrained by the unique constitution of HKEx given its public interest role in the maintenance of an orderly and fair market," he said.

In the evaluation, Standard and Poors acknowledged the outstanding performance of HKEx in financial transparency and information disclosure.

"Details of investments and indirect holdings in its subsidiaries are disclosed thoroughly and there is adequate disclosure of related party and internal transactions," Standard and Poors reported. "Good disclosure is particularly important for HKEx as some of its directors are also directors or shareholders of brokers, Hong Kong listed companies, exchange or clearing participants. There is clear evidence that the company aims to provide information in a timely and efficient manner.

"The companys website is a good source of information. Its Investor Relations Corner provides existing and potential investors the data necessary to make an informed decision. In addition, the website includes news releases, publications and information products," the Standard & Poor's report said.

Mr Lee said this was the first independent assessment of HKExs corporate governance. "And as far as I am aware, it is also the first evaluation of any Hong Kong company. It was a useful experience for us as it is always helpful to have an independent third party assessment of your strengths and weaknesses. Such assessment helps to stimulate our further development.

"Standard and Poors noted the high priority we give to good corporate governance, and our clear interest in setting a good corporate governance example to the market.

"I hope our example will encourage other companies to seek an objective assessment of the quality of their corporate governance," Mr Lee said.

The full analysis of HKEx and additional information regarding corporate governance scores and evaluations is available on the Standard & Poor's website.