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#1
27-05-2014, 01:50 PM
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This is how much PAP MPs and Ministers make from directorships
An honorable member of the Coffee Shop Has Just Posted the Following:
SINGAPORE - Stricter regulations and a lack of qualified people sent fees for non-executive directors here up last year, according to Hay Group. The global management consultancy said median annual fees hit $56,000 per year for the 12 months to Sept 30 last year, a 9.8 per cent increase over the same period in 2012. Mr Kevin Goh, director of executive rewards at Hay Group Singapore, said the challenges of the job mean "non-executive director remuneration will continue to grow at a steady rate of 7 to 10 per cent annually" for the next three years. Companies with a market capitalisation below $500 million led the way on the increases, said the report. Their median fees were $50,000, up from $47,000 a year earlier, while medium companies with market caps between $500 million and $3 billion raised fees from $64,000 to $65,000. The median compensation for companies with market caps above $3 billion was $123,000, similar to the preceding year. The report was based on data from annual company reports of 246 listed companies on the Singapore Exchange. It showed conglomerates - firms with a number of different business units - had the highest median annual fee of $83,000, attributed to directors needing the expertise to lead different operations. The biggest increases in median fees were in the hotels and restaurants industry, with rises of 25 per cent, and property firms, where payouts advanced 18 per cent. Mr Peter Lee, managing consultant with wage consultancy firm Remuneration Data Specialists, warned not to read too much into the report as it captures only two financial years. "What about the fees for the past few years?" he said. Other trends also emerged, including less use of stock options while more firms disclosed their remuneration structure for non-executive directors. More boards also complied with the revised Code of Corporate Governance. This requires at least 50 per cent of the board of directors to be independent if the company's chairman is not independent by 2016. Last year, 47 per cent of such companies met the requirement, up from 42 per cent the year before - See more at: http://business.asiaone.com/news/non....HQ906Ies.dpuf Click here to view the whole thread at www.sammyboy.com. 
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