International Business & Economy Despite cut in income SMRT CEO remains transport operator's highest paid head...

Despite cut in income SMRT CEO remains transport operator's highest paid head in history

Author

Date

Category

- Advertisement -

In its latest Annual Report for fiscal year ended 31 March 2016 (FY 16) SMRT revealed that the basic salary of its CEO had increased by about $37,000, from $793,170 he earned in the previous financial year to, $830,955 he earned in the last one. The public transport operator has however cut the variable income of its CEO, Mr Desmond Kuek.
In the financial year ended 31 Mar 2015 (FY15), Mr Kuek earned $1,517,853 in variable income which is tied to performance. In FY16 however he earned $1,040,759, or about $500,000 less than FY15. Mr Kuek, 53, also holds 260,000 shares awarded to him by SMRT.
Despite Mr Kuek’s total income for the last financial year dropping by about $500,000 compared to FY15, he still earned a whopping $1.87 million, and is SMRT’s highest paid chief executive in its history. The transport operator’s previous CEO Ms Saw Phaik Hwa drew about $1.85 million when she left SMRT in 2012.
SMRT has two other senior staff in the million-dollar-income category, but it failed to disclose further details of the two saying, “given the wage discrepancies in the industry, and the competitive pressures that may result from such disclosure.”

Send in your scoop to news@theindependent.sg 

- Advertisement -

Almost 8 out of 10 vote PN can’t survive GE 15 without UMNO

Almost eight out of 10 respondents on a Twitter survey voted that Bersatu will not survive GE-15 without UMNO, according to BFM radio survey held this morning (22/2/2021) during its Morning Run programme. Of the 206 voters (respondents) in the final countdown,...

Foodpanda rider called “Blur Sotong” by netizen

Singapore — A Foodpanda rider shared his unfortunate experience with a customer. He took to Facebook on Saturday morning (Feb 20), sharing screenshots of the conversation. Posted by Chan Okada SJ on Friday, 19 February 2021 The rider shared that the customer had asked...

Journalist claims Karen Mok is the only woman Stephen Chow has ever thought of marrying

Hong Kong -- Last year, comedian Stephen Chow's public and ugly legal battle with his former girlfriend over their finances gave a rare peek into the personal life of the fiercely private 58-year-old. It was reported that out of all the women...

Send in your scoop to news@theindependent.sg 

Theindependent