SinkTel CEO pay jumps 23% to $4.15m. FAPee TRAITORS' to follow suit?

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<TABLE border=0 cellSpacing=0 cellPadding=0 width=452><TBODY><TR><TD vAlign=top width=452 colSpan=2>Published June 30, 2010

</TD></TR><TR><TD vAlign=top width=452 colSpan=2>SingTel CEO pay jumps 23% to $4.15m
Company's FY2010 profit soars 13.3% to $3.91b on strong business rebound

By WINSTON CHAI
SINGAPORE Telecom has given its management team an across-the-board pay rise on the back of a strong business rebound last year, with group chief executive Chua Sock Koong collecting her biggest pay cheque since landing the top job three years ago.

<TABLE class=picBoxL cellSpacing=2 width=100 align=left><TBODY><TR><TD></TD></TR><TR class=caption><TD></TD></TR></TBODY></TABLE>According to the company's annual report released yesterday, Ms Chua was paid $4.15 million for the financial year ended March 31.
This amount is 23 per cent more than what she got the year before, thanks to a fatter bonus payout of $2.7 million this time around.
It is also her biggest package since taking over from former SingTel group chief executive Lee Hsien Yang in September 2006.
In her first year as CEO, Ms Chua was paid $3.57 million. But this eased to $3.38 million in 2008 as a result of lower bonuses during the recessionary year.
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</TD></TR><TR><TD bgColor=#fffff1><TABLE border=0 cellSpacing=0 cellPadding=0 width=124 align=center><TBODY><TR><TD vAlign=top>In her first year as CEO, MsChua was paid $3.57m. But this eased to $3.38m in 2008 as a result of lower bonuses during the recessionary year.
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</TD></TR></TBODY></TABLE></TD></TR></TBODY></TABLE>However, favourable regional currency movements, coupled with improved performances across key overseas markets such as Australia and India, have helped SingTel return to boom times, with its 2010 profit soaring 13.3 per cent to $3.91 billion.
Besides Ms Chua, other members of SingTel's management team also received pay rises as a result of the improved performance.
Paul O'Sullivan, CEO of Australian subsidiary Optus, received $3.48 million last year, 43 per cent more than the year before. However, this was partly due to the appreciation of the Aussie dollar in the past year.
SingTel's Singapore helmsman Allen Lew was paid $2.88 million for FY2010, 17 per cent more than the year before.
Chief of international operations Lim Chuan Poh, who is retiring at the end of this year, got a 23 cent increase to $2.25 million. And chief financial officer Jeann Low was paid $2.39 million last year, 6.3 per cent more than the year before.
SingTel chairman Chumpol NaLamlieng also reveals in the company's annual report that three non-executive directors - Heng Swee Keat, John Powell Morschel and Deepak S Parekh - will step down at the upcoming annual general meeting on July 30.
Mr Heng, who is managing director of the Monetary Authority of Singapore, sits on SingTel's corporate governance, nominations and compensation committees.
Mr Morschel, non-executive chairman of Australia and New Zealand Bank, chairs the Optus advisory committee, while Mr Parekh is chairman of India's Housing Development Finance Corporation. Both directors are members of SingTel's compensation committee.
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