The Malaysian Reserve, 19 August 2014 - Genting Bhd Tops highest Paid Director's list

The Malaysian Reserve, 19 August 2014

A survey of 626 companies in 2013 said 62.14% paid their directors more despite the economic slowdown by KAVITHAH RAKWAN GENTING Bhd paid RM140.9 million remuneration to its board of directors from RM117 million in 2012, topping the Malaysian Business magazine's highest paid directors list. According to the magazine, the highest paid director is Genting's executive chairman and CEO Tan Sri Lim Kok Thav (picture) who received a remuneration in the range of RM136.45 million to RM136.5 million from RM111.55 million to RM111.6 million previously. In its survey of 626 companies for 2013, the magazine found that 62.14% or 389 paid their directors more despite the slowdown in the Malaysian economy. The 626 companies were found to have paid their directors RM2.52 billion cumulatively with 549 of them paying more than RM1 million to each board member compared to 540 companies in 2012. As for individual payouts, based on remunerations of individual directors, 314 directors were receiving more than RM1 million cash compared to 296 in year 2012. The ranking for remuneration of individual directors is tops highest ' list Bloomberg based on the director with the highest executive position on the board. As for Genting Malaysia Bhd, a unit of Genting Bhd, the highest paid executive is assumed to be Lim who took home between RM57.4 million and RM57.45 million, compared to RM48.6 million to RM50 million in 2012. Meanwhile, TOI Corp Bhd's ED Tan Sri Lee Shin Cheng took home the amount in the range of RM52.1 million to RM52.15 million, from RM47.7 million to RM47.74 million in 2012. Among the other top five highest paid directors are Tropicana Corp Bhd's group executive chairman Tan Sri Tan Chee Sin and YTL Corp Bhd's group executive chairman Tan Sri Yeoh Tiong Lay. According to the list by the magazine, the total directors' payout for the Top 20 paymasters amounted to RM683.9 million, compared to RM569.5 million in 2012..