Singtel: All get big pay rise despite small net profit

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An honorable member of the Coffee Shop Has Just Posted the Following:

http://www.tremeritus.com/2015/06/22...ll-net-profit/

Singtel: All get big pay rise despite small net profit


June 22nd, 2015 |
Author: Editorial



According to Singtel’s annual report released today (22 Jun), the company
posted a 3.5% rise in net profit to $3.782 billion for the financial year which
ended 31 March 2015:



Group revenue increased 2.2% to $17.2 billion in the same financial year.

However, Singtel’s chief executive officer Chua Sock Koong took home about
$5.6 million in total remuneration, comprising a variable bonus of $3.83 million
and her salary of $1.68 million for the year.

This is an increase of 19% from the previous year when Ms
Chua received $4.71 million in total.

The telco’s 5 other key management staff took home a total of $14.42
million:

1. Allen Lew – $4.97 million
2. Bill Chang – $2.91 million
3. Jeann Low – $2.51 million
4. Hui Weng Cheong – $2.24 million
5. Yuen Kuan Moon – $1.78 million

In the previous financial year ended March 2014, the key management staff
took home only $12.6 million:

1. Allen Lew – $3.31 million
2. Bill Chang – $1.94 million
3. Jeann Low – $2.13 million
4. Hui Weng Cheong – $1.74 million

That is to say, the key management staff have all taken home more money in
FY2015 compared to FY2014:

1. Allen Lew – 50% increase
2. Bill Chang – 50% increase
3. Jeann Low – 18% increase
4. Hui Weng Cheong – 29% increase

In his review, Singtel’s chairman Simon Israel said, “Looking ahead, we see
the mobile data revolution gaining further momentum. The need for people,
businesses and objects to be interconnected will drive higher demand for
connectivity and data services.”

“The challenge, and the opportunity, for Singtel is to continue to lead and
shape this data-driven digital world with services that are important to our
customers and create sustainable value for our shareholders,” he added.

In any case, it seems that despite a meager 3.5% increase in Singtel’s net
profit, all the key management staff including the CEO had a big increase in
their remuneration package ranging from 18% to 50%.

Do you think this is fair?


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