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On Sunday (April 19), the state investment management company Temasek Holdings denied claims that its CEO Ho Ching earns an annual salary of S $ 99 million.
This happens several days after a Taiwan news program claimed that Mdm Ho, who is also the wife of Prime Minister Lee Hsien Loong, earns around TWD2.1 billion (S $ 99 million) a year or around S $ 300,000 per day as acting CEO. and CEO of Temasek Holdings.
Although he rarely addressed the issue of his senior management’s compensation, this time Temasek addressed Ho Ching’s salary claims directly in a statement, simply saying that the claim is “false.” Temasek also noted that Ho Ching’s annual compensation is not the highest within the company, nor is it among the top five highest-paid executives.
The statement went on to develop the company’s compensation framework that says “it aligns the interests of employees and shareholders during business cycles.”
The statement said: “Incentives focus on long-term performance and ensure employees share profits and pain with the Temasek shareholder during business cycles.”
“Deferred compensation is an integral part of our compensation and claims have been applied for years when performance requires it.”
Netizens on the CNA Facebook page with more than 700 comments, however, were less than satisfied with Temasek’s statement, and many called for transparency from the company, asking them to disclose Mdm Ho’s salary and that of his seniors. executives.
However, a user named Barley asked why the salary should be disclosed, and proposed that it is “silly” to know a boss’s salary.
But others pointed out that Temasek Holding is the exclusive property of the government and is a sovereign wealth fund, which means that employees’ wages are paid by public funds. Netizens emphasized that this means that the public has a right to know how the company is using its money, even in terms of compensation for employees.
A couple of users even asked why Mdm Ho, who is the wife of Prime Minister Lee, is the CEO of Temasek, suggesting that this should be addressed for the sake of responsibility.
