Domestic Trade and Consumer Affairs Minister Tan Sri Muyiddin intends to introduce business ethics. Can he succeed?

Tan Sri Muyiddin's business ethics include showing honesty in business practice, responsibility towards customers, society and environment and humanitarianism to all humans. If we can instill these values at home, in kindergartens, schools and universities, then we shall see some results. There will be fewer unscrupulous traders.

The Malaysian Government must show a good example. 900,000 civil servants must be clean, efficient and trustworthy. When applying for licenses and seeking approval for development plans mean bribery and corruption, businessmen may be less willing to follow ethics. How do they get back the money paid under the counter?

CRONYISM

For example, the Government uses tens of billions of ringgits to bail out
troubled companies such as Bank Bumiputera, Perwaja, MAS, UEM/Renong and New Straits Times Group.

As Lim Kit Siang has suggested, we need a Royal Commission to investigate these companies: their background, assets, liabilities, profits, losses, political connection and political donations. How has MAS acquired a debt of over RM9 billion and how does the Government pour in tens of billions of ringgits to save the company, including RM4.1 billion to buy and lease back eight MAS aircrafts?

Malaysia has the resources and capacity to create a sound economy. It can have foreign reserves of US$100 billion instead of about US$30 billion. If Singapore can have that type of reserves, why can't Malaysia? As it is, Taiwan has about US$140 billion and China over US$210 billion. With a sounder economy and better business atmosphere, there will be better ethics.

Enforcing business ethics is difficult. But, if the Government shows a good example, then it will be easier.