38
HAW PAR CORPORATION LIMITED
CO R P O R AT E GOV E R NAN C E R E P O R T
(CONTINUED)
The Directors’ fee
(1)
structure for services on the Board and Board Committees is as follows :
Board
$
- Chairman
80,000
- Member
40,000
Audit Committee
- Chairman
20,000
- Member
10,000
Nominating and Remuneration Committee
- Chairman
10,000
- Member
5,000
The Group remunerates its employees at market competitive levels, commensurate with their performance and contribution
to the long-term interests and success of the Group. The remuneration package comprises fixed and variable compensation,
provident fund and share options (for eligible employees). A variable bonus scheme is in place for each business unit. The bonus
scheme takes into consideration working capital efficiency, productivity, current year earnings and long-term sustainability.
In the annual review of the remuneration of the Executive Directors, the RC takes into consideration performance of the
individuals and comparative remuneration of similarly placed persons in the market as well as the findings of Mercer. The
performance criteria include achievement of financial objectives using financial indicators such as overall profitability and
return of assets over a period of time. Their remuneration is reviewed annually by the RC and includes a variable bonus
component which is performance based. The level and structure of remuneration for executive directors are aligned with the
long term interest of the Group.
Share options are granted to the Executive Directors and eligible key executives, based on their performance during the
year. These share options are granted at market price around the date of grant and can only be exercised after a vesting
period of usually one year to ensure that employees’ interest gel with the longer term performance of the Group. In the
event of misconduct on the part of a participant in the share option scheme, the RC may in its absolute discretion treat any
outstanding option as lapsed and null and void. More information on the Haw Par Corporation Group 2002 Share Option
Scheme can be found in the Directors’ Statement and notes to the financial statements.
Disclosure of Remuneration
The details of the remuneration of each Director for FY 2015 are as follows:
Table 2:
Name
Directors’
Fees
(1)
Base or fixed
salary
Variable
bonus
Benefit-in kind
and others
Total
Total Share
options granted
$’000
$’000
$’000
$’000
$’000 No. of shares
Wee Ee Lim
-
669
600
85
1,354
-
Han Ah Kuan
-
291
238
108
637
66,000
Wee Cho Yaw
90
-
-
-
90
-
Sat Pal Khattar
60
-
-
-
60
-
Hwang Soo Jin
55
-
-
-
55
-
Lee Suan Yew
48
-
-
-
48
-
Chew Kia Ngee
60
-
-
-
60
-
Peter Sim Swee Yam 43
-
-
-
43
-
Gn Hiang Meng
47
-
-
-
47
-
Wee Ee-chao
40
-
-
-
40
-
(1) Directors’ fees are subject to shareholders’ approval at the forthcoming annual general meeting on 29 April 2016.
