The Establishment of the Coalition for Business Integrity (CBI)
Recent reports by the big four accounting and auditing firms on the level of fraud and bribery in the private sector in Malaysia indicate a real and tangible problem that has not been addressed collectively by any party in the business domain. An example is the survey conducted by KPMG which indicates 71% of respondents believed that bribery and corruption is an inevitable cost of doing business in Malaysia and Ernst & Young polls showed similar results.
With the emergence of anti-bribery legislations on commercial operations around the world including Malaysia, it is timely to form a coalition of companies and make a clear collective stand against fraud and bribery so as to raise the level of integrity in the marketplace and to lower the cost of doing business for a better Malaysia.
CBI was formed on 26 September 2014 by a group of concerned professionals who witnessed decades of erosion of integrity in both private and public domain that has undeniably impeded productivity growth and driven up the cost of living. We aspire to see changes on the ground by engaging with the people, government of the day, civil societies, business councils, trade associations, missions etc.
1. To champion a culture of business integrity in Malaysia mitigating business risks.
2. To combat fraud and leakages in the market place in order to reduce costs of doing business.
3. To gather like-minded business entities to stand together as a voice and conscience in the market place
4. To engage the government of the day to deal with fraud and corruption in the market place
5. To bring Malaysian business entities in line with current national and international anti-bribery legislation.
6. To promote business growth through positive work culture, improved productivity, business networking and business matching.
To promote a market place of integrity, good management practice, and positive work attitude with enhanced productivity in MALAYSIA.
- Assist member companies to comply with current anti-corruption laws and obtain certification of international integrity management standards in order to realise zero tolerance to corruption in their business dealings.
- Train company employees to assimilate positive work culture in discharging their duties.
- Facilitate healthy dealings with the government where appropriate through Pemandu and other government agencies.
- Promote growth through business dealings among member companies and as well as non-member companies.
- Form a united voice against fraud, malpractices, bribery in the market place.
CBI advocates the following core values:
- Integrity in business management – with righteousness, truth and honesty doing what is right rather than what is expedient.
- Zero tolerance to corruption and bribery at all levels of management.
- Commitment to excellence in the delivery of goods and services.
- Greed should not be in the equation for the pursuit of profitability.
- Equitable compensation to all levels of employees.
- Treat stakeholders equally with utmost of respect regardless of position, title, race, religion and nationality.
- Be responsible corporate citizens with full compliance to prevailing laws.