Lloyd's Register delivers its first PAS 55 asset management certificate to rail industry

Lloyd's Register Rail (Asia) has certified Hong Kong's Kowloon-Canton Railway Corp (KCRC) against the BSI Publicly Available Specification 55 (PAS 55-1), a stringent standard for best practice in asset management. This is the first PAS 55 certificate that the Lloyd's Register Group has awarded to a railway company and is also the first certificate awarded by the Group in Asia.

Iain Carmichael, Managing Director, Lloyd's Register Rail (Asia) presented the certificate to James Blake, Chief Executive Officer of KCRC.

Alex Lau, Safety & Quality Manager, KCRC said: "KCRC's mission is to provide safe, reliable and quality transport services to Hong Kong people following prudent commercial principles. By achieving an internationally acclaimed PAS 55 certification of its asset management system, KCRC can demonstrate to its stakeholders that the railway assets are optimally managed from cradle to grave to maximize their life-cycle contribution to the business.

"KCRC chose Lloyd's Register as the auditor for certifying its AMS because they have been well recognized as a pioneer in developing the PAS 55 standard and a robust approach to certification. In addition, Lloyd's Register has a long history of working with railways around the world, and we trust that Lloyd's Register can understand our operating needs and help us through the assessment process in the most effective manner."

Ian Carmichael said: "This achievement demonstrates KCRC's commitment to continuing safe and reliable railway operations in Hong Kong, by following international practice in asset management. Lloyd's Register has a worldwide reputation for independence and integrity, and our asset management assessments provide a real test. We are only too happy to recognize KCRC's efforts as it strives to deliver a high quality railway services to the people of Hong Kong."

The certification represents an important stepping stone in confirming Lloyd's Register as the world leader in PAS 55 certification across several business sectors. It follows other certifications in the power and gas industries in Europe and North America. It also positions Lloyd's Register as a key player in the development of good industry practice in the management of railway operations and maintenance activities worldwide.

Ends

Notes to editors

1. Lloyd's Register is an independent risk management organisation. The Lloyd's Register Group works to help improve its clients' quality, safety, environmental and business performance throughout the world, because life matters. Its expertise and activities cover shipping, railways, other land-based industries and oil and gas. The Group comprises charities and non-charitable companies, with the latter supporting the charities in their main public benefit goal. The Lloyd's Register Group has an impressive track record in verification and related activities. The PAS 55-1 certificate was awarded to Kowloon-Canton Railway Corp by Lloyd's Register Rail (Asia) Limited, a member of the Lloyd's Register Group.

2. The Lloyd's Register Group used its worldwide experience of management systems and asset management expertise in a variety of industries to support the Institute of Asset Management (IAM) in the development of PAS 55. Published by the British Standards Institution (BSI) PAS 55 is a leading management systems framework upon which effective asset management strategies can be based. It was developed as a quality benchmark for management practices in asset-intensive industries such as power, oil and gas and transportation. Many organisations are adopting the PAS 55-1 principles to increase the confidence of regulators and shareholders in their management activities. PAS 55 is strongly encouraged by regulatory bodies such as Ofgem (UK), Dte (Netherlands), ORR and OPPPA (UK) for its ability to provide assurance to wider stakeholders that risks associated with complex asset systems are being appropriately managed. The Lloyd's Register Group has seen considerable interest from organisations around the world seeking to develop their asset management systems to be compliant with PAS 55 and has carried out verification activities in many sectors, including rail, electricity and gas. It has also seen interest from regulators, and national and local governments.

3. An electronic image of the certificate award ceremony is available from news@lr.org

4. For further information on asset management and PAS 55 related services from members of the Lloyd's Register Group contact Rhys Davies, Lloyd's Register, Electra House, Electra Way, Crewe, CW1 6GL, UK
T +44 (0)1270 270 165
E rhys.davies@lrrail.com

For further information contact:
Rhys Davies
Lloyd's Register
Electra House, Electra Way,
Crewe, CW1 6GL, UK
T +44 (0)1270 270 165
E rhys.davies@lrrail.com

Lloyd's Register
71 Fenchurch Street
London EC3M 4BS, UK
T +44 (0)20 7709 9166
F +44 (0)20 7488 4796
E news@lr.org

www.lr.org

Services are provided by members of the Lloyd's Register Group.
Lloyd's Register, Lloyd's Register EMEA and Lloyd's Register Asia are exempt charities under the UK Charities Act 1993.

Left to right: Left to right: Lloyd's Register Rail (Asia) - Asier Sinde, Senior Consultant and Iain Carmichael, Managing Director; Kowloon-Canton Railway Corp - James Blake, Chief Executive Officer; Li Yun-tai, Senior Director - Transport; and Alex Lau, Safety and Quality Manager.