SHOCKER! Malaysia tops in business ... that was LOST TO BRIBERY!

A global survey by Transparency International has placed Malaysia at the top of a list of 30 of countries where business was lost due to corruption.

27 percent of the 3000 businessmen interviewed for the survey answered yes when asked whether their company failed to win a contract or gain new business in Malaysia in the last 12 months due to a competitor's act of bribery.

50 percent of them said they suffered losses in Malaysia, followed by Mexico (48 percent) and Indonesia (47 percent).

Singapore ranked second lowest where only 9 percent of those interviewed answered in the affirmative, while only 2 percent thought so about Japan. [See full results here]

“The survey suggests that the problem is most acute in Malaysia and Mexico. One person in two of those surveyed said that he or she had lost business because of bribes,” wrote Transparency International's Susan Côté-Freeman who overseas the organisation's Private Sector Programmes.

Acute

She said the culture would cause honest businesses to suffer, governments and citizens to lose out and could lead to serious social and political costs including the government being toppled through popular protests such as those in the Arab world.

When classified according to the nature of businesses and contracts, public works contracts and construction sector ranked worst among respondents, followed by utilities and telecommunications

The survey results brings to mind the recent fiasco over the awarding of the Ampang LRT extension project.

George Kent, a company dealing with water metres and which is said to have close ties with prime minister Najib Razak, was awarded the lucrative project under a joint venture with Lion Pacific consortium. This was despite PKR strategic director Rafizi Ramli exposing confidential documents showing George Kent failing an independent evaluation of its suitability for the massive job.

-Harakahdaily