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TI-M signs MoC with Minconsult Group of Companies press-releases

Press Releases

Transparency International Malaysia (TI-M) signs Memorandum of Collaboration to Promote Integrity and to Combat Corruption with Minconsult Group of Companies

Transparency International Malaysia (TI-M) and Minconsult Group of Companies are proud to announce the signing of a memorandum of collaboration on an Integrity Pact outline the areas of partnership to promote greater integrity, transparency, accountability and ethics in business and other professions.

There will be a formal signing ceremony to mark the event on Wednesday, 18th November, 2008, 10am, Minconsult Boardroom at Lot 6, Jalan 223/51A, 46100 Petaling Jaya.

TI-M will be represented by its President, Yang Berbahagia Tan Sri Ramon Navaratnam while Minconsult Group of Companies was represented by its Chairman Yang Berbahagia Tan Sri Wan Abdul Rahman.

What is an Integrity Pact?

Developed by TI, The Integrity Pact (IP) is a tool aimed at preventing corruption in public procurement in public contracting. It consists of a process that includes an agreement between a government or a government department (at the federal, national or local level) and all bidders for a public contract. It contains rights and obligations to the effect that neither side will: pay, offer, demand or accept bribes; collude with competitors to obtain the contract; or engage in such abuses while carrying out the contract. The IP also introduces a monitoring system that provides for independent oversight and accountability.

Purpose

The purpose of the MOC is to effectively put in place structures and processes to eliminate corruption by advocating and promoting accountability, transparency and integrity, in all business dealings and transactions with government and the private sector. It also aims to create a culture of intolerance towards corruption and seeks to build institutional integrity in both the government and the private sector.

To help meet this objective and to support the mission of the MOC, TI-M and Minconsult, a leading engineering consulting firm have agreed to formalise their collaboration on programs for outreach, advocacy and capacity building that would greatly benefit Minconsult members.

It is also to maximise TI-M’s and Minconsult’s ability to review and comment on specifications and standards being advanced through their respective processes.

The key areas identified are, among others, the renewed commitments to Transparency, Accountability and Good Governance in their daily operations and having a code of conduct for ethics and good corporate governance.

Programmes and frameworks such as Integrity Pacts (IP) and Code of Ethics will be put into practice to promote a culture of integrity amongst their members and associates.

Expectations

It is hoped that this important signing ceremony will pave the way for other consulting firms to also sign similar Integrity Pacts as soon as possible.

Companies that sign these IP’s are expected to build special brand names for integrity that will them more acceptable and welcome as business partners in integrity and transparency and accountability.

This arrangement will benefit all parties in the transaction as it will raise efficiencies and reduce costs of doing business consumers will also gain these Integrity Pacts.

Issued by
Tan Sri Ramon Navaratnam
President
Transparency International Malaysia