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Wall Street Journal : Malaysia Ranked No 1 Most Corrupted Country In The World For Doing Business

Despite Malaysia’s high-profile anticorruption crusade, half of the corporate executives surveyed by a global corruption watchdog believe that competitors have obtained business through bribery.

It asked about 3,000 executives from 30 countries whether they had lost a contract in the past year because competitors paid a bribe—and in Malaysia, 50% said yes.

Japan ranked as the world’s least-corrupt place to do business, with just 2% of respondents saying they had lost out due to bribery; Malaysia’s neighbor Singapore was second-cleanest, at 9%. Even Indonesia, with a long-standing reputation for corruption, fared better than more-developed Malaysia: Southeast Asia’s largest economy came in at 47%. By comparison, 27% of respondents in China said they thought bribes had cost them business.

“It shows the attitude of private companies in Malaysia, indicating that bribery in the public sector could be systemic and in a sense institutionalized,” said Paul Low, president of the Malaysian chapter of Transparency International.

Source : WSJ

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