For what it is worth, the Canadian conversions have now appeared on the Asiamiles and Krisflyer websites:
Asiamiles is charging 1.1 HSBC rewards points per mile.
Krisflyer is charging 10000 HSBC rewards points for 9000 miles
Does anyone know if there are any other airline programs as part of the program?
The roughly 10% devaluation seems a bit nasty and petty to me. But this is a step in the right direction at least.