The CEOs should be paid top dollars for the responsibility they undertake.
They can drive index movements and hence are important pillars of our economy. The 3 banks took up 38% of the entire Straits Times Index (STI) weightage. It isn’t surprising to see the 3 local banks’ CEOs topping the remuneration charts. It is a far cry from his original pay package. As an entry level minister, his salary would have been $935000, of which 65% is fixed and the rest are variable.
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He was featured prominently after being named a full minister in PM Lee Hsien Loong’s 2020 cabinet immediately after winning his first electoral contest. Examples include Dr Tan See Leng of IHH (SGX:Q0F) who earned $12.7M and Mike Wells of Prudential (SGX:K6S) who earned $12M in 2019.īut Dr Tan See Leng deserves some mention – he retired from IHH in 2019. There’re a couple of companies that were secondary listings on Singapore Exchange and I have excluded them in the following rankings. Here’s the list of the top 10 CEOs ranked by the total remunerations. 10 highest paid CEOs / Key Directors in 2019 He has the rights to pay himself high salary. However, one can argue that Ching is the major shareholder of Oxley with a 42% stake. With that comparison in mind, it does seem that Oxley’s CEO is pretty well paid. Oxley is a sub-billion ($910M) market capitalisation company while DBS has a $52 billion market cap, more than 52 times larger.
132 CEOs or key directors had remunerations between $1M and $5M.13 CEOs or key directors had remunerations between $5M and $10M.7 CEOs or key directors had remunerations more than $10M.The remunerations will be a lot higher if we had included every executive.)ġ14 companies didn’t provide remuneration details or they did not have 2019 annual reports ( most are suspended). (Do note that I report remunerations of one executive from each company. Remunerations for CEO / Key Director of SGX-listed companies in 2019 Some CEOs may appear to have high remunerations but the cash paid out are likely only a fraction of it. I have taken all into consideration but do keep in mind that it isn’t all cash. Hence, the data presented here isn’t for the entire board but only one key personnel per company.ĭetermining the exact remuneration was tricky too – it can be broken down into salary, bonuses, stock options, vesting, and benefits in kind. Some examples are Hong Fok, Cortina, Rex and Wing Tai, which reported multi-million dollar remunerations for a handful individuals on the board.įor this article, I was only interested about the remuneration for the key executive.
Some boards are larger with more executive directors and may pay higher salaries in general. I will label such people as CEOs or key directors throughout this post. In such cases, I can only try my best to determine who the leader is. It can also be problematic when a company has no executive directors but has “general managers” or “vice-presidents” instead. Another instance is where non-executive directors get a higher pay than the CEO ( for e.g. For example, although it’s clear to us that the “CEO” and “Managing Director” are head honchos, there are companies that do not use such such titles.
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How I wish I had the programming skills to do it! That said, this information isn’t presented consistently and I would have to spend time cleaning the data even if I knew how to run scripts. I downloaded every annual report and fish out the data with my eyeballs manually. It took me many weeks to collect remuneration data of all the SGX-listed companies. Update: 2020 Hi ghest Paid CEOs in SGX listed companies
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