Asia's transparency improves

Asia's transparency improves

HONG KONG (Dow Jones): Asian countries have generally improved their perceived transparency over the past year, which probably has a lot to do with the regional financial crisis, according to a survey by Political and Economic Risk Consultancy.

However, some of the countries hardest hit in the financial downturn -- namely Indonesia, Malaysia and Thailand -- scored worse, according to the results of a survey publicly distributed Friday by the Hong Kong consulting firm. The consulting firm didn't attempt to define transparency, which it said carries several definitions and is now in danger of becoming a buzzword.

Only three Asian countries are graded as having an above- average level of transparency. Hong Kong scores best by far, followed by Singapore and Taiwan.

Indonesia and Vietnam scored worst, and "the situation in these two countries is so bad that companies are close to flying blind."