(3 August 2010, Hong Kong) Octopus Holdings
Limited (OHL) today announced that the Special Committee of
the OHL Board has given approval for the appointment of DeloitteToucheTomatsu
(Deloitte), an international professional services firm, to
carry out an independent review of the data protection policies
and practices of OHL and its subsidiaries. Deloitte is also
engaged to submit an independent auditor report on Octopus
Cards Limited, a subsidiary of OHL, as required by the Hong
Kong Monetary Authority under section 59 (2) of the Banking
The Special Committee, chaired by OHL Non-Executive Director
Roger Luk, BBS, JP, has also commissioned Deloitte to survey
international best practices with a view to assisting the
Special Committee in recommending enhancements to ensure that
all aspects of OHL's operations not only comply with relevant
laws, but also continue to meet the high expectations of customers.
The other two Committee members are Professor Andrew Chan
Chi-fai and Mr. Alexander Hamilton, who are also OHL's Independent
Deloitte is expected to complete the review in 10 weeks.
The findings and recommendations will be submitted to the
Special Committee and OHL Board for consideration and will
be shared with the Hong Kong Monetary Authority, the Office
of the Privacy Commissioner for Personal Data, other stakeholders
and the public.