Summary
DESPITE the slow economic conditions, many companies saw it fit to bestow huge payouts upon their top directors. Yet, some of these payments may have been justified. Others, though, are debatable.
WHILE Malaysia's corporate sector has turned largely cautious over growth and salaries of its rank and file, the remunerations of its boardroom directors do not seem to have been significantly affected.See the full content of this document
Extract
The Taprunneth Over ...
Our latest annual survey of Malaysia's highest-paid directors shows that many were still well paid in financial year 2009 (FY2009) despite the challenging economic climate. The most notable, in terms of increase in payout, was that of Datuk Seri Nazir Razak of CIMB Holdings Group Bhd, whose RM14.5 million received represented a 283% increase from the RM5.12 million he drew in 2008.
Nazir had not only outshone his peers in the banking sector but also towered above the other government-linked companies (see `GLC Pay: Still An Issue' on page 52). But while Nazir leads veteran banker Tan Sri Teh Hong Piow of Public Bank Bhd (PBB) two-fold, if one takes into account the dividends Teh receives from his 24.08% stake in PBB, he would outshine Nazir anytime.Observers point out that CIMB's payo...See the full content of this document
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