Corporate Asia told to air its dirty linen

comments     Bernice Han     Published     Updated

SINGAPORE Asia needs to air its corporate dirty linen in public, even if that means losing face, if it wants to clean up the standard of its business practices, according to prominent Asia watcher Michael Backman.

Backman, the author of several books on the region including "Asian Eclipse: Exposing the Dark Side of Business in Asia", published in 1999, said although the quality of corporate governance in Asia has improved since the 1997-1998 financial crisis there is room for improvement.

And solutions should be sought from the United States the land of the Enron and WorldCom scandals, he said.

"Because of WorldCom and Enron, the US is even better," said Backman, in Singapore to promote the book "Big In Asia" which he co-authored.

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