Heavy hand of tycoons hold back corporate reform

The heavy influence of tycoons and a lack of government direction pushed Hong Kong below Singapore and Australia in a highly regarded regional corporate governance survey.

The "Corporate Governance Watch" report issued yesterday by investment firm CLSA combed the financial reports of 864 listed firms in the Asia-Pacific, ranking them on corporate governance according to their level of disclosure and board composition. This is its ninth report since 2000.

Hong Kong companies ranked third overall, above nine of the 12 markets surveyed, including Japan and Taiwan.

via Business feed http://www.scmp.com/business/economy/article/1041027/heavy-hand-tycoons-hold-back-corporate-reform