By Hana R. Alberts
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Asia's Most Corrupt Countries
A new report shows business executives look down on Indonesia in favor of Singapore and Australia.
HONG KONG--Investors seem to have a love-hate relationship with Indonesia. Many are confident, boosting the country's benchmark stock index 115% in 2009. At the same time, Asian business executives just voted it the most corrupt country in the region.
The world's largest archipelagic nation ranks worst on the list of 16 Asia-Pacific regions, according to a report released Wednesday by the Hong Kong-based Political & Economic Risk Consultancy (PERC).
PERC asked 2,174 middle and senior executives--both expatriates and those who hail from Asia--to rank the behavior of their political, civil and economic agencies, including leaders, police, courts, stock markets, taxation systems and militaries.
Indonesian President Susilo Bambang Yudhoyono, commonly known as SBY, was overwhelmingly re-elected for a second term last July by a populace that craved not only economic stability but growth. And he delivered: Global demand for the nation's natural resources fueled the uptick in many fortunes on Forbes' ranking of Indonesia's richest people. (See the complete list.)
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