ANNUAL REPORT 2014
39
Remuneration of Key Executives
The remuneration of each of the top six senior executives of the Group (who are not Directors), in no order of quantum sum,
is as follows:
Table 3:
Name / Position
Base or fixed
salary
Variable bonus
Benefit-in-kind
and others
Total
Share options
granted
$250,000 - $500,000
%
%
%
% No. of shares
Goh Bee Leong, GM – Manufacturing
54
33
13
100
35,000
Jasmin Hong, GM – Marketing
57
31
12
100
33,000
Keeth Chua, DGM – Marketing
60
28
12
100
20,000
Kwek Meng Tiam, Regional GM
77
6
17
100
26,000
Tarn Sien Hao, Group GM
60
23
17
100
33,000
Zann Lim, CFO
58
27
15
100
33,000
The total remuneration paid/accrued to the top six senior executives is about $1,963,000.
The aggregate amount of termination, retirement and post‑employment benefits that may be granted to Directors, the CEO
and the top six key management personnel is around $500,000.
There is no employee (other than the CEO) who is an immediate family member of a Director or the CEO. A relative of the
CEO, Mr Kelvin Whang, who is the General Manager of Underwater World Pattaya, received annual remuneration of between
$150,000 to $200,000.
ACCOUNTABILITY AND AUDIT
Accountability
The Board provides shareholders with a balanced and clear assessment of the Group’s performance through announcements of
its quarterly and full-year results. Internal guidelines are in place to comply with legislative and requlatory requirements and
Management provides the Investment Committee with monthly management accounts of the Group, to enable the Investment
Committee to review, monitor and highlight to the Board any material information which may have a material impact on the
Group’s performance and prospects.
Risk Management and Internal Controls
The Group has established a formal risk management framework across the entire organisation to provide a structured approach
for managing risks. The framework enables management to have a formal structure in risk management assessment. The
framework is designed to ensure that risks are identified, assessed, monitored and effectively managed. It is in line with the
best practices as contained in the Risk Governance Guidance for Listed Boards, issued by the Corporate Governance Council
in May 2012.
The Risk Management Committee is chaired by the CEO and comprises an Executive Director, the Chief Financial Officer
(“CFO”), the Internal Audit Manager and Group General Manager. It performs the following roles:
• oversees the development of risk management policies;
• provides overall leadership, vision, framework and direction for risk management;
• promotes a risk management culture through human resources, use of technology and organisation structure;
• monitors the effectiveness of risk management and makes refinements as and when necessary;
• ensures that any risks are properly addressed; and
• reports to the AC and the Board twice a year on risk management activities and attestation undertaken (if any).
CORPORATE GOVERNANCE REPORT
(CONTINUED)
