LLOYD’S REGISTER Rail carried out an independent review of Hong Kong MTR’s asset management practices in 2005, after public concern about high-profile incidents.

Asset management was assessed through verification of processes and inspection of asset condition, with the international cross-sector BSI PAS 55 asset management standard as a benchmark. Maintenance was reviewed against system-specific guidance for signalling, rolling stock and power infrastructure, with asset condition assessed by Lloyd’s Register Rail specialists.

Overall it was found that MTR operated a robust asset management system in line with international best practice. Lloyd’s Register Rail concluded that a competent maintenance regime was in place, along with well-developed long-term plans for asset replacement.

The consultancy’s final report made 16 recommendations. None related to safety, instead setting out possible enhancements to existing asset management practices.