Statement on
Corporate governance
2. DIRECTORS’ REMUNERATION
The remuneration of the Board Members is broadly categorised into those paid to Executive Directors and Non-Executive Directors.
The Executive Directors are remunerated in cash and in kind by way of salary, performance bonus and other benefits and entitlements; taking into consideration their
experience, responsibilities, length of service, their individual performance and contribution as well as the overall performance of the Group and the Company. Non-
Executive Directors are paid fees based on their experience and level of responsibilities.
The Remuneration Committee is responsible to make any recommendation to the Board on the remuneration package and benefits extended to the Executive Directors;
whereas, Non-Executive Directors’ remuneration is a matter to be decided by the Board as a whole. The individual concerned must abstain from deliberations and voting
on decisions in respect of his individual remuneration.
For purposes of security, instead of presenting the remuneration details of each Director individually, the Board is of the opinion that such information will not add
significantly to the understanding and evaluation of the Company’s standards of corporate governance and that the same can be disclosed as follows:
The details of the remuneration for the Directors of the Company during the financial year ended 31 December 2014 are as follows:
Executive
Directors
(RM’000)
Non-Executive
Directors
(RM’000)
Total
(RM’000)
Salaries and Other Emoluments
4,535
63
4,598
Bonus
1,044
-
1,044
Directors’ Fees
60
225
285
5,639
288
5,927
Benefits-in-kind
- Leave passage
238
-
238
- Others *
289
11
300
Total
6,166
299
6,465
*Others under benefits-in-kind include motor vehicles, club subscription, etc.
The number of Directors whose total remuneration falls within the following bands:
No. of
Executive
Directors
No. of
Non-Executive
Directors
Total
Less than RM50,001
-
2
2
RM50,001 to RM100,000
-
3
3
RM2,500,000 to RM2,600,000
1
-
1
RM3,600,000 to RM3,700,000
1
-
1
Total
2
5
7
35
Wah Seong Corporation Berhad • Annual Report 2014
