According to a new survey by the accountancy firm, Ernst & Young, over half the companies they contacted in India are willing to provide “entertainment” to win business. Sixty percent of Indonesian firms are also ready to make cash payments in order to win or retain contracts. And an alarming 28% of Indonesian chief financial officers interviewed considered there was nothing wrong in mis-stating their company’s financial performance. E&Y singled out mining, defense, oil and gas, companies when making their appraisal.
Numerous UK listed mining companies are active in both India and Indonesia.