As a Singtel shareholder, I was surprised to read that despite the dip in both top line and bottom line, Singtel thought it appropriate to reward its chief executive officer with a bigger pay package, which had increased from $6.39 million to $6.56 million, a rise of about 2.65 per cent (Singtel chief earns more as telco's profit holds steady; June 29).
Seeing the multi-million-dollar pay packages of CEOs of Singapore companiesmakes one wonder whether their job responsibilities are much greater than that of our Prime Minister and his Cabinet.
It is time all shareholders demand that before top executives are awarded hefty pay increases, the following be asked:
- Has the company bettered the previous year's top and bottom lines?
- Is growth due to acquiring new assets or organic growth?
- Are the junior staff getting the same or better percentage increase in their pay packages?
- Are shareholders awarded a similar or better increase in their dividend?
- Is the share price of the company higher than the same period last year?
Roland Chia
