BUILDING LANDMARKS, CHARTING GROWTH
151
Annual Report 2015
Guideline
Questions
How has the Company complied?
Guideline 9.4
Is there any employee who is an immediate
family member of a director or the CEO, and
whose remuneration exceeds S$50,000
during the year? If so, please identify the
employee and specify the relationship with
the relevant director or the CEO.
No. There is no such employee.
Guideline 9.6
a) Please describe how the remuneration
received by executive directors and key
management personnel has been
determined by the performance criteria.
b) What were the performance conditions
used to determine their entitlement under
the short-term and long-term incentive
schemes?
c) Were all of these performance conditions
met? If not, what were the reasons?
The total remuneration mix comprises
four key components: fixed compensation,
variable
compensation,
share-based
compensation and market-related benefits.
The fixed component comprises the base
salary,
which
is
determined
by
benchmarking
against
similar
and
comparable industries. The variable
compensation is tied to the Company’s
and individual employee’s performance.
The share-based compensation refers to
the Employee Share Option Scheme 2014
approved by the Shareholders. The
Employee Share Option Scheme 2014 is a
long-term incentive plan whereby share
options are granted based on the
achievement of corporate and individual
performance targets.
The compensation structure is directly
linked to the achievement of performance
targets for the Company and individual
employees, with emphasis on both short
and long-term objectives. The short-term
incentives are based on the fulfilment of
corporate targets involving business
performance, operational growth and value
creation as well as individual performance
targets that are aligned to the overall
strategic, financial and operational goals of
the Company. Long-term incentives consist
of share options that were granted based on
the achievement of corporate and individual
performance targets.
Yes. The RC is satisfied that the quantum
of performance-related bonuses and the
value of share options granted and vested
under the Employee Share Option
Scheme 2014 was fair and appropriate,
taking into account the extent to which
their performance conditions for the
Period were met.
