Top ringgit for head honchos
The top 20 companies on Bursa Malaysia forked out RM455.6 million to directors last year in terms of total payout, up 22 per cent from 2009.
KUALA LUMPUR: Directors in public-listed companies got paid more last year compared to the year before.
Malaysian Business, in an annual survey of the "highest paid directors" published in its August 16 issue, said the top 20 companies on Bursa Malaysia forked out RM455.6 million last year in terms of total payout, up 22 per cent from 2009.
Out of more than 600 companies surveyed, close to 270 directors raked in more than RM1 million in remuneration in 2010.
The survey lists a total of 630 companies with remuneration band of RM300,000 and above as stated in their respective annual reports.
Malaysian Business noted that only a handful of the companies were transparent in stating the exact remuneration of their top executives.
"Interestingly, several companies with huge losses still rewarded their directors with huge payouts," it said in a press release yesterday.
Genting Bhd topped the list with a big payout of RM111.48 million to its board, 21 per cent higher from the previous year.
IOI Corp Bhd came in second with a total payout of RM56.29 million, 71 per cent more from the year before.
Genting also had the highest remuneration band of RM106.65 million to RM106.7 million for a single director but did not name who the director was. The top executive listed is its executive chairman/chief executive officer Tan Sri Lim Kok Thay.
Other companies with the highest remuneration band for a single director were IOI Corp, which paid out a remuneration band of RM53.05 million to RM53.1 million to its highest ranking director. This was higher compared to RM25 million to RM30 million it paid out in 2009, presumably to its director and founder Tan Sri Lee Shin Cheng.
Genting's subsidiary, Genting Malaysia Bhd, which paid out more than RM42 million to its top executive, took the third spot.
By Roziana Hamsawi
Malaysian Business, in an annual survey of the "highest paid directors" published in its August 16 issue, said the top 20 companies on Bursa Malaysia forked out RM455.6 million last year in terms of total payout, up 22 per cent from 2009.
Malaysian Business noted that only a handful of the companies were transparent in stating the exact remuneration of their top executives.
"Interestingly, several companies with huge losses still rewarded their directors with huge payouts," it said in a press release yesterday.
Genting Bhd topped the list with a big payout of RM111.48 million to its board, 21 per cent higher from the previous year.
IOI Corp Bhd came in second with a total payout of RM56.29 million, 71 per cent more from the year before.
Genting also had the highest remuneration band of RM106.65 million to RM106.7 million for a single director but did not name who the director was. The top executive listed is its executive chairman/chief executive officer Tan Sri Lim Kok Thay.
Other companies with the highest remuneration band for a single director were IOI Corp, which paid out a remuneration band of RM53.05 million to RM53.1 million to its highest ranking director. This was higher compared to RM25 million to RM30 million it paid out in 2009, presumably to its director and founder Tan Sri Lee Shin Cheng.
Genting's subsidiary, Genting Malaysia Bhd, which paid out more than RM42 million to its top executive, took the third spot.
By Roziana Hamsawi
Comments
Post a Comment