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Hong Kong among Asia's best for corporate governance

Hong Kong ranks second in Asia for corporate governance.

Hong Kong ranked second in Asia for corporate governance, according to a joint report by brokerage CLSA and the Asian Corporate Governance Association (ACGA).

The biannual report is based on surveys of fund managers and institutional investors who evaluate more than 1,000 companies across 12 markets in the Asia Pacific region on issues related to corporate governance, ranging from accounting and auditing, corporate governance culture, enforcement, regulatory environment and rules and practices.

Jamie Allen, secretary general of ACGA, said Hong Kong received a high rating in part due to its Securities and Futures Commission not allowing dual class shares.

Hong Kong scored 65 on the survey. Singapore, with a score of 67, topped the league table.

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