AN anti-corruption conference jointly-organised by the Coalition for Business Integrity (CBI) and various chambers of commerce and industry on May 18 will help the private sector to address issues of corruption in the supply chain in the era of globalisation.
This, according to its organising chairman Mark Chay, is in response to a recent survey by CBI and the Institute for Democracy and Economic Affairs (IDEAS) which showed how cost of goods and services in the country escalate as a result of corruption in the supply chain.
The study also demonstrated that there is a strong correlation between the level of corruption and the per capita income of a nation.
“For example, the income and corruption level of the Asian Tigers of the 1960s are tracked till 2020 and the contrast is evident (see Fig 1),” he pointed out in a media statement.
“In Malaysia, most business practitioners are still oblivious to the damaging effect of bribery and corruption to the livelihood of the public and image of the country (see Fig 2). Besides, corruption and mismanagement of resources in Malaysia also impacted investors’ confidence (see Fig 3).”
This, Chay said, contributes to Malaysia’s gross domestic product (GDP) over a period of 20 years (2000-2020) falling behind other ASEAN nations such as Indonesia, Thailand, the Philippines, Vietnam and Singapore.
“In the era of globalisation, jurisdictions around the world have already put in place legislations to address cross border corruption in line with the United Nation Global Compact.”
Following the escalating prices of food in recent times, the B40 community is the worst hit.
“Therefore, addressing the governance and integrity issues affecting the supply chain is key to solving the problem of inflation,” Chay added.
Meanwhile, the half-day CBI conference to be held on May 18 at Dream Centre in Petaling Jaya, Selangor will provide an insight into this arena with the sharing of success stories that will inspire the business operators in the marketplace.
Among the key speakers are global entrepreneur Sim Choo Kheng who is both founder and CEO of the Sim Leisure Group. The group has developed and operates more than 300 theme parks around the world.
Sim will share how he defied extortion for bribes when developing the world’s longest tube water slide set in a natural forest environment at the Penang Escape Theme Park.
“We are most honoured to have Drago Kos, chair of the Organisation for Economic Co-operation and Development (OECD) Working Group on Bribery, to share his perspective on this subject,” Chay added.
Other speakers include at the UN Global Compact Network Malaysia & Brunei’s director of programmes Shanta Helena Dwarkasing; Malaysian-German Chamber of Commerce and Industry’s board member Daniel Bernbeck; the Malaysian International Chamber of Commerce and Industry’s executive director Shaun Edward Cheah; Corporate Research and Investigations Group and the ABAC Center of Excellence’s CEO Zafar Anjum; and Thumbprints Utd Sdn Bhd’s chairman Tam Wah Fion.
Established in 2014, CBI is a non-profit apolitical business organisation championing business integrity and anti-corruption in the marketplace for a better Malaysia.
It has been providing services to the corporate sector by engaging with the Government of the day and the relevant authorities which include the Malaysian Anti-Corruption Commission (MACC) as well as working closely with international organisations such as ASEAN CSR, United Nations Office on Drugs and Crime (UNODC), Organisation for Economic Co-operation and Development (OECD) and the United States Agency for International Development (USAID).
For more information on the half-day CBI conference which shall run from 2pm to 8pm, kindly visit https://bit.ly/3s0k6Om or contact Bee Chooi for more information at +6017- 477 0729 or drop an e-mail to [email protected]. – May 4, 2022
