A BHP Billiton mining deal being investigated for alleged corruption was personally overseen by Cambodian strong man Hun Sen, diplomatic cables reveal. The mining giant’s aborted attempt to establish a bauxite mine in Cambodia and its hospitality program for Chinese officials at the 2008 Beijing Olympics are at the centre of a foreign bribery probe involving the Australian Federal Police and the US Justice Department.
Diplomatic cables, several marked ‘sensitive’ and ‘protected’, show for the first time Cambodian Prime Minister Hun Sen’s close involvement in 2006 negotiations with BHP executives. The cables show Hun Sen told a private audience in Cambodia that he would give ‘BHP 1 million hectares of land’ weeks before the 2006 agreement was signed. He also promised the company ‘a possible tax holiday’ and chaired a committee examining legal issues associated with the BHP proposal.
The cables reveal how BHP decided to stop all mineral exploration in Cambodia in 2009 just months after a British-based non-government organisation exposed its ‘tea money’ payments of US$3.5 million to Cambodian government departments and raised concerns some of the money had gone missing. There is no evidence suggesting any of the money went to Hun Sen, who has dismissed reports suggesting BHP was involved in bribery in Cambodia.
The cables, released under FOI by the Department of Foreign Affairs and Trade, show BHP in 2006 took what Australian officials regarded as an unusual step of asking them to directly approach Hun Sen for a meeting to ‘go to the next level and close the deal’. Although Australian officials rejected the request to approach the Cambodian leader on BHP’s behalf in order to ‘preserve our political capital’, embassy staff in Phnom Penh contacted Hun Sen’s office to get a contact name and number to pass to BHP.
In September 2006, Hun Sen and BHP executives signed an agreement granting the firm and joint venture partner Mitsubishi rights to explore a huge area of land for bauxite deposits. The deal was ratified by Hun Sen and then prime minister John Howard weeks later.
The cables make clear that although BHP’s exploration process was progressing slowly during 2007 and 2008, the company’s Cambodia-based executives were optimistic about the project’s success. However, the diplomatic cables show a change in BHP’s stance on Cambodia shortly after the February 2009 release of the Global Witness report.
In April 2009, Australian diplomats sent a ‘confidential’ cable to Canberra raising doubts about BHP’s long-term commitment to Cambodia, blaming the global financial crisis and the country’s ‘own poor financial management’. The cable stated that any withdrawal by BHP would ‘not only breach BHPB’s MOU with the Cambodian government (signed in the presence of prime ministers Hun Sen and Howard in Canberra in 2006)’, but would also ‘diminish Australia’s influence in this major sector’.
Australian diplomats in Phnom Penh also sent a cable to Canberra in response to the claims by Global Witness stating that ‘the specific references [to] Australian companies are very concerning’. However, they remained confident BHP had done nothing wrong.
BHP told the Australian government in June 2009 that it would pull out of Cambodia because the bauxite deposit was not worth mining due to global financial conditions.
A. Provide an overview of ethical decision-making model
B. Provide an overview of ethical principles
C. Identify the stakeholders in this situation.
D. Determine the ethical issues (if any) involved.
E. Comment on the ethics of bribing officials in a country where you are conducting business given that such actions are part of the country’s normal business practice, but they are unacceptable in your own country.
To export a reference to this article please select a referencing stye below:
My Assignment Help. (2021). Financial Accounting. Retrieved from https://myassignmenthelp.com/free-samples/accting2501-financial-accounting/the-principle-of-respect-for-autonomy.html.
"Financial Accounting." My Assignment Help, 2021, https://myassignmenthelp.com/free-samples/accting2501-financial-accounting/the-principle-of-respect-for-autonomy.html.
My Assignment Help (2021) Financial Accounting [Online]. Available from: https://myassignmenthelp.com/free-samples/accting2501-financial-accounting/the-principle-of-respect-for-autonomy.html
[Accessed 20 April 2021].
My Assignment Help. 'Financial Accounting' (My Assignment Help, 2021) <https://myassignmenthelp.com/free-samples/accting2501-financial-accounting/the-principle-of-respect-for-autonomy.html> accessed 20 April 2021.
My Assignment Help. Financial Accounting [Internet]. My Assignment Help. 2021 [cited 20 April 2021]. Available from: https://myassignmenthelp.com/free-samples/accting2501-financial-accounting/the-principle-of-respect-for-autonomy.html.
MyAssignmenthelp.com has become one of the leading assignment help provider in New York City and Boston. We provide top class auditing assignment help. Not only auditing, but we also cover more than 100 subjects and our writers deal with all types of assignments with utmost expertise. To make writing process faster and accurate, we have segmented our assignment experts' teams as per their expertise on writing different types of assignments. We guaranteed that students who buy our assignment online get solutions worth their investment.
Answer: Introduction The Tesco Plc. Company operates as a British Multinational grocery Company and as a general Merchandise Company. The company is located in Welwyn Garden City, England United Kingdom. The company is the largest grocery and general merchandise company measured in the terms of gross revenue produced by the company. The company is having its presence in the major countries of the Europe and Asia and is also having a substanti...Read More
Answer: The main aim of this presentation is to emphasise the importance of the CRM system. In pursuance of doing so all the implications along with the kind of industry suited for it along with its corresponding justification has been given. In today’s competitive world it is of utmost importance that the company focuses both on absorption and retention of customer (Hao et al., 2015). In order to do that there are various methods th...Read More
Answer: Introduction As per Friedman “The main aim of any business is to increase its profit”, it highlights the fact that businesses operate and perform their work to make profit. It uses it resources and engages in such activities that they can make profit out of the same (Friedman, 1970). Every business is competing in the market in order of terms of revenue and making profit, that is the basic parameter based on which the...Read More
Answer: With regards to the given choice between deferred compensation and advance payment, there are two main factors which need to be considered. One of these is the underlying tax implication as deferred compensation is usually practiced when the employee wants to lower the tax outflow and thereby intentionally delays the receipt of salary by opting for deferred compensation. Thus, based on the marginal tax rate that is currently applicable...Read More
Answer: Introduction The main objective of the assessment is to analysis the financial report of Flight Center ltd for the purpose of evaluating whether the business follows conceptual framework of reporting. The conceptual framework is basically a guideline which all accounting professionals are expected to follow in order to accurately report the financial status of the business. Company background The business of Flight center ltd is sel...Read More
Just share requirement and get customized Solution.
Our writers make sure that all orders are submitted, prior to the deadline.
Using reliable plagiarism detection software, Turnitin.com.We only provide customized 100 percent original papers.
Feel free to contact our assignment writing services any time via phone, email or live chat. If you are unable to calculate word count online, ask our customer executives.
Our writers can provide you professional writing assistance on any subject at any level.
Our best price guarantee ensures that the features we offer cannot be matched by any of the competitors.
Get all your documents checked for plagiarism or duplicacy with us.
Get different kinds of essays typed in minutes with clicks.
Calculate your semester grades and cumulative GPa with our GPA Calculator.
Balance any chemical equation in minutes just by entering the formula.
Calculate the number of words and number of pages of all your academic documents.
Our Mission Client Satisfaction
Commendable work by the expert and the team, i was really worried about my online test, but it was really nicely and timely done by the professional expert of my assignment help, I\'m really thankful and hoping for coming again in the future.
Again a great work by my assignment help, i always come here for my assignment work, they are the best and the most trusted company I have ever encountered, so thanks heaps for your help.
Awesome work by the expert, was really happy with my results as well, was perfectly done as i wanted it to be, thanks again for a great help.
Assignemnt was good. And really helpful that they could do it in last minute. Thanks a lot to the company