When numbers are Pure Nonsense!
The saga of Liew Mun Leong is still on going. Another article by Lee Su Shyan in ST today questions the logic and ridiculous nature of the way numbers are being used to justified pay and think that it is reasonable and acceptable. Liew Mun Leong's bonus is equivalent to 0.7% of the company's profit which is very, very reasonable. Compare to Kwek Leng Beng's in percentage term, his $20.7m is smaller and thus fairer. Kwek Leng Beng's is 1.1% of his company's profit. Wow, too much! Such use of numbers as comparison and justification is an insult to the shareholders intelligence. And it make a mockery of Obama's pay compare to the US economy of US$10 trillion. Obama should be paid many times more. And closer at home, Hsien Loong's pay is ridiculously low in percentage term to the GDP or whatever national data one wishes to use. When would such cock reasoning be slammed as bullshit and a reasonable compensation formula become the norm in industries? Yes, the shareholders have a lot of questions to ask in the next AGM. They should also ask what the top twenty employees' bonuses were to be fair to Liew Mun Leong. If the top twenty employees are getting several millions each, then Liew Mun Leong should not be the one that is under the spotlight.