Temasek Holdings clarified yesterday (Apr 19) that claims that its chief executive Ho Ching’s annual salary is “around S$100 million” are false.
In a statement published on its website titled, ‘Temasek Compensation Framework’, the state investment firm wrote that there has been “chatter based on an Asian talk show commentary, which claims that Ho Ching’s annual salary is around S$100 million”.
“This claim is false”, it added.
Mdm Ho Ching is the Chief Executive Officer (CEO) of Temasek Holdings. She is married to the current prime minister of Singapore, Lee Hsien Loong.
There has been vast speculation about Mdm Ho’s salary, with netizens guessing, speculating and attempting to calculate the elusive number.
Under the guise of anonymity, yet another netizen thought that they had cracked the code and figured out the CEO of Temasek Holdings Mdm Ho Ching’s salary. However, this time, the netizen claims to have done so with the ‘help’ of Mrs Goh Chok Tong.
Read related: Netizen claims to have figured out Ho Ching’s minimum salary with some assistance from Mrs Goh Chok Tong
“313000mil/100 * 2.3 = 7.2 mils Excluding perks, allowances and bonuses” was the final calculation by the netizen, guessing that Mdm Ho Ching’s annual salary minimally came up to $7.2million.
Another netizen, Philip Ang, after looking at the doubling portfolio value of Temasek Holdings, speculates that she earns “about $300,000 a day”.
Read related: The secret that is Ho Ching’s salary – will we ever know?
Even Mr Lee Hsien Yang, PM Lee’s brother, was not privy to this information. He took to Facebook last year (July 9) to point out “Temasek announced its results yesterday. No surprise that it still didn’t disclose Ho Ching’s salary”.
In its statement, Temasek, without disclosing a specific number, revealed: “Ho Ching’s annual compensation is neither the highest within Temasek nor is she amongst the top five highest paid executives in Temasek”.
Temasek’s full statement can be found here. /TISG