<TABLE border=0 cellSpacing=0 cellPadding=0 width=452><TBODY><TR><TD vAlign=top width=452 colSpan=2>Published September 18, 2009
In other countries, this butch would have been pulled down from her throne and decapitated! Only the 66% Sporns are still happy licking his CB and listening to his fcuk shit!
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>Temasek managers to live with paycuts
Bonuses have also disappeared, says CEO Ho Ching
By SIOW LI SEN
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</TD><TD>Feedback</TD></TR></TBODY></TABLE>(SINGAPORE) Temasek's paycut of up to 25 per cent will remain, on top of a second year of lower bonuses, said chief executive Ho Ching yesterday.
<TABLE class=picBoxL cellSpacing=2 width=100 align=left><TBODY><TR><TD>
</TD></TR><TR class=caption><TD>Temasek will not change its compensation framework which was designed to align with sharing the pains and gains with the shareholder.
- Ms Ho </TD></TR></TBODY></TABLE>Since January this year, the 380-strong company has imposed a pay cut, with senior management taking the lead of up to 25 per cent reduction in their base pay.
'We haven't talked about that yet,' said Ms Ho, in response to a question on reinstatement of salaries cut. 'On top of that we've had bonuses which have disappeared.'
Earlier, she said that the negative wealth added (WA) for March last year resulted in the clawback of long-term deferred bonuses for staff sometime in the second half of 2008.
'The negative wealth added for March this year will translate to additional clawbacks this year of the remaining deferrred staff bonuses,' she said.
Apart from the base salaries and family friendly benefits, Temasek's variable incentives include annual performance target bonuses, and longer term incentives linked to WA and or total shareholder return.
Since 2004, senior management have had the bulk of their bonuses and incentives deferred between three and 12 years, and subject to sustained performance, she said.
The company's WA is a negative $68 billion for the latest financial year while in the previous year, it was a negative $6.3 billion.
According to the annual report, the base salaries and benefits of key managers rose to 60 per cent of total compensation, the highest since 2005.
In 2008, base salaries made up only 15 per cent of total compensation.
Cash bonuses were the highest since 2004 at 20 per cent while deferred compensation fell to 20 per cent from 67 per cent in 2008.
Cash bonuses paid during the year include annual individual performance incentives for prior year and the paid-out portion of sign-on or guaranteed bonuses, if any.
Negative WA bonus amounted to 43 per cent.
Key managers include executive directors, senior managing directors, managing directors and management directors.
Ms Ho also said that Temasek would not change its compensation framework, which was designed to align with sharing of pains and gains with the shareholder.
</TD></TR></TBODY></TABLE>
=> After talking so much cock and fudging with the nos., each Papaya and FTrash dog will still be paid millions of dollars despite their losses?
In other countries, this butch would have been pulled down from her throne and decapitated! Only the 66% Sporns are still happy licking his CB and listening to his fcuk shit!
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>Temasek managers to live with paycuts
Bonuses have also disappeared, says CEO Ho Ching
By SIOW LI SEN
<TABLE class=storyLinks border=0 cellSpacing=4 cellPadding=1 width=136 align=right><TBODY><TR class=font10><TD width=20 align=right>
</TD><TD>Email this article</TD></TR><TR class=font10><TD width=20 align=right>
</TD><TD>Print article </TD></TR><TR class=font10><TD width=20 align=right>
</TD><TD>Feedback</TD></TR></TBODY></TABLE>(SINGAPORE) Temasek's paycut of up to 25 per cent will remain, on top of a second year of lower bonuses, said chief executive Ho Ching yesterday.<TABLE class=picBoxL cellSpacing=2 width=100 align=left><TBODY><TR><TD>
</TD></TR><TR class=caption><TD>Temasek will not change its compensation framework which was designed to align with sharing the pains and gains with the shareholder.- Ms Ho </TD></TR></TBODY></TABLE>Since January this year, the 380-strong company has imposed a pay cut, with senior management taking the lead of up to 25 per cent reduction in their base pay.
'We haven't talked about that yet,' said Ms Ho, in response to a question on reinstatement of salaries cut. 'On top of that we've had bonuses which have disappeared.'
Earlier, she said that the negative wealth added (WA) for March last year resulted in the clawback of long-term deferred bonuses for staff sometime in the second half of 2008.
'The negative wealth added for March this year will translate to additional clawbacks this year of the remaining deferrred staff bonuses,' she said.
Apart from the base salaries and family friendly benefits, Temasek's variable incentives include annual performance target bonuses, and longer term incentives linked to WA and or total shareholder return.
Since 2004, senior management have had the bulk of their bonuses and incentives deferred between three and 12 years, and subject to sustained performance, she said.
The company's WA is a negative $68 billion for the latest financial year while in the previous year, it was a negative $6.3 billion.
According to the annual report, the base salaries and benefits of key managers rose to 60 per cent of total compensation, the highest since 2005.
In 2008, base salaries made up only 15 per cent of total compensation.
Cash bonuses were the highest since 2004 at 20 per cent while deferred compensation fell to 20 per cent from 67 per cent in 2008.
Cash bonuses paid during the year include annual individual performance incentives for prior year and the paid-out portion of sign-on or guaranteed bonuses, if any.
Negative WA bonus amounted to 43 per cent.
Key managers include executive directors, senior managing directors, managing directors and management directors.
Ms Ho also said that Temasek would not change its compensation framework, which was designed to align with sharing of pains and gains with the shareholder.
</TD></TR></TBODY></TABLE>
=> After talking so much cock and fudging with the nos., each Papaya and FTrash dog will still be paid millions of dollars despite their losses?
