ANNUAL REPORT 2015
39
CO R P O R AT E GOV E R NAN C E R E P O R T
(CONTINUED)
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
55
33
12
100
35,000
Jasmin Hong, GM – Marketing
56
33
11
100
39,000
Keeth Chua, DGM – Marketing
57
33
10
100
20,000
Kwek Meng Tiam, Regional GM
78
6
16
100
26,000
Tarn Sien Hao, Group GM
55
30
15
100
44,000
Zann Lim, CFO
57
30
13
100
33,000
The total remuneration paid/accrued to the top six senior executives is about $2,103,000.
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 $524,000.
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 as well as timely announcement of any price-sensitive information. Internal guidelines
are in place to comply with legislative and requlatory requirements and Management provides the Board with monthly
management accounts of the Group. The management reports containing sufficient details and comparisons to planned
budgets, provide the Directors with a means to monitor the Group’s performance.
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.
