LONDON: Malaysia is ranked 15th when it comes to companies most likely to pay bribes when doing business abroad, a survey suggests.Malaysia, Hong Kong, Italy and South Africa were in 15th place out of 28 countries in a poll of 3,000 business executives conducted by anti-corruption group Transparency International (TI).
Companies from Russia and China are the most likely to pay bribes and were the top two ‘bribers’.
The Netherlands and Switzerland came top, while the UK ranked eighth, just ahead of the US and France.
Bribery was reportedly most common to win public sector works and construction contracts.
“It is of particular concern that China and Russia are at the bottom of the index,” said TI in its report.
“Given the increasing global presence of businesses from the countries, bribery and corruption are likely to have a substantial impact on societies in which they operate and on the ability of companies to compete fairly in these markets.”
Other major developing economies came much higher up the rankings. India was 19th, while Brazil, in 14th place, was one spot ahead of Italy.
The report called for more international action to outlaw companies from paying bribes in foreign countries.
“G20 governments must tackle foreign bribery as a matter of urgency,” said Huguette Labelle, chair of TI, who said that more resources must be dedicated to investigations and prosecutions.
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