Singtel chief earns more as telco's profit holds steady

The boss of Singtel - the largest Singapore-listed company by market capitalisation - earned slightly more this year as the group's earnings held steady despite a "challenging business environment".

Chief executive Chua Sock Koong took home a remuneration package of $6.56 million for the 12 months to March 31, up on the $6.39 million she reaped in the previous year.

About $5.89 million of this year's package has been paid out, including a base salary of $1.65 million, Singtel disclosed in its annual report yesterday.

Like Ms Chua's pay, Singtel's earnings were mostly stable from a year earlier. The telco made a net profit of $3.85 billion in the 2017 financial year, holding stable from a net profit of $3.87 billion the year before.

Although full-year revenue slipped a little, Singtel was "resilient" overall, owing to strong core businesses, higher associate earnings and lower tax expenses.

Ms Chua said in the annual report: "Singtel today is markedly different from the traditional telco we were five years ago. We've strengthened our competitiveness, and we're also more diversified and resilient."

A version of this article appeared in the print edition of The Straits Times on June 29, 2017, with the headline 'Singtel chief earns more as telco's profit holds steady'. Print Edition | Subscribe