India is perceived as Asia`s fifth most corrupt while the Philippines as most corrupt economy by foreign businessmen according to a survey, by the Hong Kong-based Political and Economic Risk Consultancy (PERC), which provides advice to private firms and governments.

In a grading system with zero as the best possible score and 10 the worst Singapore at 1.20 and Hong Kong with 1.87 were ranked as the cleanest economies among the 13 Asian economies.

The Phillipines with a score of 9.40, worsening up from 7.8 last year, was ranked as the most corrupt. Perception of corruption in Thailand worsened after the military seized power in September, though PERC, said it had not noted a worsening in the actual situation in the Philippines despite its deteriorating score.

Thailand and Indonesia, both on a grade of 8.03, were tied as Asia`s second most corrupt nations, even as Thailand`s image worsened slightly since last year while Indonesia`s improved.

India, though improved its score from 6.76 last year to 6.67 this year, was at the fifth place. PERC said the Indian government must accelerate reforms; warning that corruption can limit companies` expansion plans.