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10/28/2009

More feel good factors needed

Read in the ST, Vivian Balakrishnan said, 'If someone needs help and isn't getting it, tell me.' And another headline, CEOs' shrinking pay, telling the story that CEOs of Singapore listed companies are collecting lesser pay, ie, less than $5million. In the Vivian case, the people should feel better that the minister cares and will extend a helping hand to those who are in need of help. In the second headline, there is a report on the comparative salaries of some of the top honchos. Lim Cee Onn, Keppel Corp, $10m - $10.25m, Tang Kin Fei, Sembcorp Industries - $8.85m, Kwek Leng Beng, City Dev, $7.75m - $8m, Hsieh Fu Hua, SGX, $7.18m, Wee Ee Cheong, UOB, $5.5m - $5.75m, Tan Kwi Kin, Sembcorp Marine, $5.12m. Down the ladder were those getting around $3m - $4m, were David Conner, OCBC, Wong Ngit Liong, Venture Corp, Chua Sock Koong, Singtel, Chew Choon Seng, SIA, Kuok Khoon Hong, Wilmar and Cheng Wai Keung, Wing Tai. What is interesting is that those that are part owners or majority owners of their respective companies appear to be more stingy in paying themselves huge salaries. I thought they should reward themselves more, after all they are the majority owners and built the companies themselves, with their own monies. Kwek Leng Beng is only the third highest paid and Wee Ee Cheong is the fifth. Then Wong Ngit Liong, Kuok Khoon Hong, Cheng Wai Keung paid themselves a miserly $3m - $4m. The worst paid majority owners is Olivia Lum who paid herself only $250k - $500k. And this amount is even lesser than most employees in the public sector. Very unbecoming. One notable absentee is Liew Mun Leong who was rewarded with a $10m bonus on top of his salaries. Shouldn't he be number One? My conclusion is that it is more rewarding to be just an employee and not an employee cum major shareholders.

5 comments:

Matilah_Singapura said...

VB has ling since stopped working for a living. He now gets his money (I refuse to use the word 'earn') from the taxpayer -- who is FORCED to pay VB and his fellow gangsters.

Millionaire-Aspiring Citizen said...

How many millions $$$ are Ho Ching and Lee Hsien Yang paid? More than Lee Hsien Loong, I bet.

How much is LKY paid taking into account all sources of income, e.g. salaries, bonuses, allowances, pensions, chairmanship fees, directorship fees, consultancy fees from the City Group, etc.; not forgetting income from the law firm L&L?

Anonymous said...

Not more feel good factors needed but more honesty and transparency needed.

Ministers and people related to the FamiLee should be made to declare all their incomes and sources of incomes, including the Old Man.

The fat cats are thinking that they can hide their secrets forever because they can rule forever.

They think that the commoners have been squeezed by the balls through the "rule of law" all these while until they become so stupid, kiasu and kiasi, so much so that they will never rise up and be strong enough to challenge, to upturn and to downturn the PAP rule.

PAP can never rule forever. One day they will be toppled. This is a fact that the fat cats seemed to disregard totally. They think they are the present day kings and princes and can call the shorts any how they like.

It will be very ugly for them when that one day comes. The rot has already set in. All people need to do is just wait and give them enough ropes to hang themselves. It is just a matter of time.

The Day of Accountability must surely come!

redbean said...

hi Millionaire Aspiring Citizen, welcome to the blog. i also aspiring to be millionaire.

if one includes the value of hdb flats, we will have the highest number of millionaires per sq ft. and if they can raise the price of 3rm flats to $1m, 80% of singaporeans will be millionaires. we will be the envy of all countries.

but then only billionaire will mean something and millionaire will be considered the new poor.

Anonymous said...

This means that they will be talking about benchmarks again. I can feel it in my bones!