Anti-corruption crusade in full force in Corporate Malaysia

Enough time: Ruslan says there should be adequate time for corporates to implement the guidelines by June 1, 2020.

THE Pakatan Harapan government envisions a corruption-free Malaysia in five years’ time, but the journey towards the ambitious objective will be a bumpy one – especially for Corporate Malaysia.

According to PricewaterhouseCoopers’ Global Economic Crime Survey 2018, about 35% of the Malaysian companies surveyed have suffered as a result of bribery and corruption in their daily operations. This marks a sharp increase from just 19% in 2014.Speaking with StarBizWeek, Transparency International Malaysia (TI-M) president Muhammad Mohan cautions that “corruption is rampant and has worsened in the Malaysian business sector over the last few years”.Despite the worrying trend in Corporate Malaysia, preventive anti-corruption measures among local companies remain limited.As at end-May 2019, only 59% of listed companies in the country had an internal anti-corruption policy, according to the Securities Commission (SC).