SINGAPORE – Singapore has not lost its reputation for fighting graft despite a spate of high-profile corruption cases in recent months, says a new report.
In fact, the convincing way in which the courts prosecute such cases shows that the country’s renown for being tough on malfeasance is deserved, said the Hong Kong-based Political and Economic Risk Consultancy (Perc).
Perc, which advises companies on doing business in Asia, still scores Singapore higher than other Asian countries in its assessment of corruption. It said the high score reflects the way corruption is dealt with systematically here and how steps are taken to discourage it in the first place.
However, Perc raised its grade assessment of “cultural risks”, given the continuing debate over the extent of foreigners being allowed to come here to work. (more…)