As an R&D centre funded by the SAR government, Hong Kong Applied Science and Technology Research Institute (ASTRI) is committed to the highest standards of corporate governance in the interest of its stakeholders and, in general, the people of Hong Kong.
ASTRI ensures good corporate governance by adhering to a Corporate Governance Manual that has been adopted by the organisation with clear articulation of its policies and principles. The Manual supports the Board and management’s efforts to operate and oversee ASTRI’s business in a transparent and accountable manner.
Taking into account changes and developments required to improve ASTRI’s operations, sections of the Manual are updated, modified and strengthened. Changes in the Manual reflect the changing terms and conditions of the business environment ASTRI operates in.
The contents of this Manual are based mainly on the existing Memorandum and Articles of Association of The Hong Kong Applied Science and Technology Research Institute Company Limited, the Memorandum of Administrative Arrangements on the Administration of Government Subvention, the Memorandum of Administrative Arrangements on the Administration of the Funding from the Innovation and Technology Fund signed between the HKSAR Government and ASTRI in 2002, the prevailing policies and procedures approved by the Board of Directors, and the existing ASTRI practice and guidelines.