SMRT CEO Desmond Kuek gets S$500,000 Pay Cut

Posted on Jun 4 2016 - 10:13am by Redwire Singapore

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SMRT CEO Desmond Kuek has gotten his pay slashed to S$1.87 million for the financial year ending 31 Mar, down from S$2.31 million the year before.

His basic salary was S$830,955, while his variable performance pay was S$1,040,759, making a total of S$1,871,714.

This was revealed in SMRT’s newly-released annual report

The number of SMRT shares awarded to him however, remained unchanged at 260,000.

Kuek was receiving the highest amount of salary that SMRT has ever paid any of its CEOs, but this pay cut brings his salary down to the level of his predecessor, Saw Paik Hwa.

SMRT didn’t explain why Kuek’s salary was slashed.

The company defended his record and said that his pay was benchmarked against the pay of CEOs of peer companies, and that it was competitive and at a responsible level.

 

1 Comment so far. Feel free to join this conversation.

  1. Sohibo June 4, 2016 at 10:59 am - Reply

    Even if he goes to another job, he will not be able to get wat he’s now getting, u tink so?

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