CORRUPTION is an accepted business practice in many parts of Asia, and few organisations have taken steps to fight it.
On Tuesday, 17 multinational companies operating in the region pledged to make a difference - and stamp out graft.
They signed the region's first anti-corruption declaration of its kind at a conference on governance and anti-corruption.
Witnessing their undertaking was Law Minister K Shanmugam, who said: 'Corruption is a cancer that has been eating away at many societies in the world. It leeches out the structures and institutions of states and allows a small number of individuals to suck the blood out of the corpus of a state.'
He added: 'Everyone, both in the public and private sectors, has a responsibility to fight this and safeguard integrity and create a clean, corruption-free environment.'
Under the declaration, the companies - from food and beverage company APEX-PAL to consumer goods manufacturer Unilever - agree to comply with laws and regulations on corruption and unfair competition.
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