63
ANNUAL REPORT FY2015
Senior Executives
The remuneration package of senior executives consists of four parts:
1.
Base or fixed remuneration
This element reflects the scope of the job and the level of skill and experience of the individuals.
2.
Variable for performance related income/bonuses
This is paid depending on the contribution of the senior executives of the Company and its subsidiaries. It
usually takes the form of an end of the year ex-gratia payment.
3.
Benefits
These benefits are mainly meals in the hotel and car benefit.
4.
Directors’ Fee
Some of the executives are directors of subsidiaries and receive directors’ fees from the subsidiaries.
Incentive payment to the CEO and key management personnel takes the form of an ex-gratia payment at
the end of the year and forms a small portion of their total remuneration. Hence, the Company does not
use contractual provisions to allow the Company to reclaim incentive components of remuneration from the
CEO and key management personnel in exceptional circumstances of misstatement of financial results, or of
misconduct resulting in financial loss to the Company.
2.3 Disclosure on Remuneration
Principle 9: Each company should provide clear disclosure of its remuneration policies, level and mix of
remuneration, and the procedure for setting remuneration, in the company’s Annual Report. It should provide
disclosure in relation to its remuneration policies to enable investors to understand the link between remuneration
paid to directors and key management personnel, and performance.
The breakdown of remuneration of the directors of the Company for FY2015 is as follows:
Annual Remuneration Report
Remuneration of Directors for FY2015
(in S$)
Name of Director
Director’s Fee
Total
Company*
Subsidiaries
Dr Lee Keng Thon
48,000
12,407
60,407
COL (Ret) Rodney How Seen Shing
36,500
-
36,500
Ng Kok Lip (Retired 25 April 2015)
6,800
-
6,800
Professor Pang Eng Fong
33,500
-
33,500
Dr Tan Kim Song (Appointed 2 March 2015)
29,500
-
29,500
Lee Khin Tien
29,000
17,814
46,814
Lee Kin Hong
24,000
13,814
37,814
Total
207,300
44,035
251,335
* Subject to shareholders’ approval at the Annual General Meeting.
