The Malaysian Anti-Corruption Commission (MACC) has issued five Anti-corruption Principles for corporations requiring companies to sign a pledge making a unilateral declaration that it will not commit corrupt acts, will work toward creating a business environment that is free from corruption and will uphold the Anti-corruption Principles for corporations in Malaysia in the conduct of its business and in its interactions with its business partners and the government.

The Anti-corruption principles are:

  1. Committing to promoting values of integrity, transparency and good governance
  2. Strengthening internal systems that support corruption prevention
  3. Complying with laws, policies and procedures relating to fighting corruption
  4. Fighting and form of corrupt practices
  5. Supporting corruption prevention initiatives by the Malaysian Government and the MACC

The long-term program is intended to see companies gradually moving towards self-assessment and reporting on anti-corruption measures.  The pledge is a voluntary tool, to aid companies which recognize the importance of anti-corruption measures in being a competitive business and operating in increasingly competitive and globalized markets.  These measures will also create a level playing field for SMEs.

Source:  Malaysian SME News