19
Straco Corporation Limited • Annual Report 2014
The Executive Chairman does not receive director’s fee. The Executive Chairman entered into a service agreement with the Company on 7 January 2004 for a
period of three years, renewable automatically thereafter. The service agreement provides for termination by either the Executive Chairman or the Company
upon giving no less than three months’ notice. The Executive Chairman’s compensation consists of his salary, bonus, share options granted, and benefits.
The remuneration of non-executive directors shall be determined by his contribution to the Company, taking into account factors such as efforts and time spent
as well as his responsibilities on the Board. Generally, directors who undertake additional duties as chairman and/or members of the Board Committees will receive
higher fees because of their additional responsibilities. The Board will recommend the remuneration of the non-executive Directors for approval at the AGM.
Principle 9: Disclosure on Remuneration
The following table sets out the quantum of Directors’ Remuneration for the year ended 31 December 2014, together with a breakdown (in percentage
terms) of each directors’ remuneration earned through base/fixed salary, variable or performance related income/bonuses, share options granted, and director
fees/attendance fees proposed to be paid to each Director subject to the approval of shareholders at the AGM:
Percentage (%)
Total
(round off to nearest
thousand dollars)
S$’000
Remuneration earned through:
Base / fixed
salary
Variable or performance
related income/
bonuses/ share Options
granted
Director Fees /
Attendance
Fees
Wu Hsioh Kwang
50%
50%
-
1,679
Chen Hong Sheng
-
66%
34%
89
Xu Niansha
-
-
100%
3
Li Weiqiang
-
67%
33%
75
Fu Xuezhang
-
70%
30%
84
Chua Soh Har
-
64%
36%
92
Tay Siew Choon
-
49%
51%
120
Lim Song Joo
-
54%
46%
109
Choong Chow Siong
-
57%
43%
104
Neo Poh Kok David
-
57%
43%
104
Wu Xiuyi
43%
57%
-
366
Wu Xiuzhuan
45%
55%
-
229
Note: Base/fixed salary includes the 13th month payment or the annual wage supplement, fixed bonus and allowances. The variable or performance related bonus of Mr Wu Hsioh Kwang, Ms Wu
Xiuyi and Mr Wu Xiuzhuan were paid in 2015.
Of the remunerations, including share options granted, of the top five key management personnel who are not Directors, Alternate Directors, or the Chief
Executive Officer of the Company for the financial year ended 31 December 2014, the remunerations of two executives fell within the remuneration band
of $250,000 and below, the remunerations of two executives fell within the remuneration band of between $250,000 and $500,000, and the remuneration
of one executive fell within the remuneration band of $500,000 and $750,000. The names of these employees are not set out in the interest of maintaining
confidentiality of staff remuneration matters.
CORPORATE GOVERNANCE
