With the implementation of the PAS55 certified Asset Management System in Hong Kong in 2007, we also introduced a new Corporate Risk Management Manual. In 2008, we took a crucial step forward, issuing this Risk Management Manual to all our JVs on the mainland together with the conducting of regional workshops and crisis management drills. With our policy to apply the same standards across the Group, we have started to promote our asset management concepts to JVs through group-wide management meetings and other channels.
The Corporate Safety and Quality Management Steering Committee, chaired by the Executive Director and Chief Operating Officer, is responsible for the direction and development of Towngas’ risk-based asset management approach, as well as the regular review of the Group’s asset-related risks. The safety and quality of our assets are measured, monitored and benchmarked against our international peers through 30 key performance indicators (such as the total number of gas seepage incidents per km of pipeline). These KPIs, together with key statistics, such as serious gas incidents and corporate business risks, are reviewed on a quarterly basis by the senior management and every six months by the Corporate Safety and Quality Management Steering Committee.
This system, together with our existing HSE and quality management systems and innovation initiatives such as SQS (Superior Quality Service), underpin our Towngas corporate strategic plan.