Graft fighters hope to add to their ranks

Graft fighters hope to add to their ranks

The Private Sector Collective Action Coalition Against Corruption (CAC) aims to raise the number of companies in the group to 600 in 2015.

The CAC will stress business involvement in public procurement and push its members to put internal anti-corruption mechanisms in place.

As of year-end 2014, some 406 companies (including 212 listed firms) had joined the CAC, up from 268 at the end of 2013.

Of the total, 78 companies have been certified by the CAC for their policies and compliance standards to prevent corruption, up from 22 at the end of 2013.

"In the past year, the Thai business sector became more alert about corporate governance and anti-corruption, as evidenced by a significant rise in the number of companies joining the CAC and those certified by the CAC," said secretary-general Bandid Nijathaworn.

"This was due partly to the shifting social and political contexts that emphasise transparency and the government's strong stance in tackling corruption," he said.

"Besides setting ambitious coalition expansion targets for this year, the CAC will focus on getting sectors prone to corruption risk, such as those involved in bidding on government projects, to sign up."

Another factor that helped elevate consciousness was the Securities and Exchange Commission's support of the Anti-Corruption Progress Indicator, which shows the strides made by listed companies in putting anti-graft policies in motion.

The indicator will be another tool to help investors understand listed companies' commitment to fighting corruption.

The CAC was founded in 2010 to introduce anti-corruption mechanisms.

The scope of the CAC focuses specifically on the private sector. It works closely and in parallel with the Anti-Corruption Organization of Thailand (ACT).

The CAC was co-founded by eight private sector groups: the Thai Chamber of Commerce, the Joint Foreign Chambers of Commerce in Thailand, the Thai Listed Companies Association, the Federation of Thai Industries, the Federation of Thai Capital Market Organizations, the Thai Bankers' Association, the Tourism Council of Thailand and the Thai Institute of Directors Association, which serves as the secretariat and takes a lead role in driving the programme.

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