Learn about what we do and journey towards sustainability. The pay cut came as Singtel's underlying full-year net profit, shorn of one-offs, fell by 21.4 per cent year on year to S$2.83 billion. What is the Singtel share price? Singtel group chief executive Chua Sock Koong's salary was nearly halved, after she oversaw what she … Her total “paid” package was S$4.63 million, just slightly lower than the S$4.9 million she received for FY19 and that’s what she actually took home for the year ... (click on link for full story on theedgesingapore.com). Chua Sock Koong, the long-time CEO of Singapore Telecommunications (Singtel), is feeling the heat amid intensifying competition in the telco sector. Ms Chua's package came to S$3.5 million in cash and benefits, down from S$6.1 million the year before. T&Cs apply. Singtel CEO takes 43% pay cut. SINGAPORE: Singapore Telecommunications (Singtel) CEO Chua Sock Koong saw her annual pay package nearly halved in what the telco said was a … Singtel’s digital businesses are gearing up to seize opportunities created by an increasingly connected world. The Edge Communications Sdn. The pay cut came as Singtel's underlying full-year net profit, shorn of one-offs, fell by 21.4 per cent year on year to S$2.83 billion. Singapore Airlines (SIA) Chief Executive Officer, Goh Choon Phong announced yesterday (28 Feb) that the management of SIA will be taking a pay cut effective 1 March. Bhd. Across the transport group’s three listed companies, ComfortDelGro, SBS Transit and VICOM, all directors will reduce their fees by 20 per cent until the end of 2020. SINGAPORE (July 1): Singapore Telecommunications Ltd (Singtel) group chief executive officer (CEO) Chua Sock Koong suffered yet another year of pay cut after the telco reported lower earnings for the most recent financial year ended March 31, 2020 (FY20). Singtel CEO’s pay slashed by half In an effort to cut down costs and reinvest in digitalisation and automation, Singtel reduced the CEO’s wages by about half in addition to other staff cuts. You have an existing account, please log in instead. Check your email for more details. Calhoun earns $1.4 million a … Published on Wed, Jul 01, 2020 / 11:05 AM GMT+8, Unlimited access to all stories from $99.9, 'Buy' Singtel now and get its core business for free, 'Stable' home demand set to carry into 2021, support property sector: CGS-CIMB, Oxley enters into strategic partnership with Pavilion Group for development of Oxley Towers at Kuala Lumpur City Centre, Riverstone Holdings subsidiary acquires land in Selangor for RM5 mil, Pilgrim Partners-managed VCC assumes control of Fu Yu Corp in $58.3 mil deal, Get a free Gift Box worth $50 delivered to your doorstep when you subscribe*, Weekly print edition delivered to your mailbox, Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login), *For annual subscription plan only. With a 44% drop in net profit in what was deemed as a year hit by “a perfect storm”, Singapore Telecommunications (Singtel) CEO Chua Sock Koong’s saw her annual pay package dip to nearly half. Singtel CEO Chua Sock Koong's pay nearly halved to $3.5m. Southwest Airlines CEO Gary Kelly, who had a base salary of $750,000 in 2018, had his pay cut by 10%. SINGAPORE (July 1): Singtel group CEO Chua Sock Koong suffered yet another year of pay cut after the telco reported lower earnings for the most recent year FY2020 ended March 31 2020. He has overall responsibility for the Group’s businesses. BY Nurhuda Syed 02 Mar 2020. Bursa Malaysia: Sustainability agenda a key lesson from the pandemic, Powering The Digital Economy With Advanced Enterprise Network, Jaya Grocer raises the bar in hygiene and safety, Toga looks towards the future with new apps and partnerships. According to TODAYonline, Singapore Telecommunications (Singtel) chief executive officer Chua Sock Koong has had her annual package nearly halved in what’s believed to be a year hit by “a perfect storm”, a notion that caused the telco to face a 44 per cent drop in net profit. From March 1, Singapore Airlines’s (SIA) executives will be given a pay cut between 10% to 15%. It was her lowest pay-out since 2009, when she made nearly S$3.4 million. Shares of Singapore Telecommunications (Singtel) (SGX: Z74) are down 4% since the company reported lower earnings for the first quarter of fiscal 2020/2021 earlier this week.. As at 11:00 SGT on Wednesday 19 August 2020, Singtel shares are trading at S$2.33 each on the IG platform – 4.5% lower than last week’s closing price of S$2.44. SINGAPORE (July 1): Singapore Telecommunications Ltd (Singtel) group chief executive officer (CEO) Chua Sock Koong suffered yet another year of pay cut after the telco reported lower earnings for the most recent financial year ended March 31, 2020 (FY20). In a press release announcing its full-year financial results, CapitaLand said that “as a show of togetherness and solidarity” with its stakeholders, board members and senior management will take a cut in their board fee and base salary of between 5 per cent and 15 per cent from April. Goh himself personally volunteered to take a 15 per cent pay cut. SINGAPORE (July 1): Singtel group CEO Chua Sock Koong suffered yet another year of pay cut after the telco reported lower earnings for the most recent year FY2020 ended March 31 2020. SINGAPORE (THE BUSINESS TIMES) - Sats on Monday (March 9) announced a 15 per cent pay cut for its president and chief executive Alex Hungate amid a … However, a 5% increase is more in line with historical norms. Group CEO Yang Ban Seng will take a 15 per cent pay cut, while all vice presidents and above will have a 10 per cent salary reduction. The latest reporting and analysis from business and investments to news and views on social issues. An annual report published Wednesday has revealed that Chua was paid a total “earned” package of S$3.5 million for the most recent FY19, some 42.1% lower than the total “earned package” of S$6.1 million a year ago. SINGAPORE (July 1): Singtel group CEO Chua Sock Koong suffered yet another year of pay cut after the telco reported lower earnings for … The counter closed up S$0.02, or 0.58 per cent, to S$3.50 on its cum-dividend date on Wednesday, after the company report was released. Download our mobile app to bring our news with you on the go. Facebook. Singtel’s Covid-19 pay freeze heaps pressure on tech firms and banks to follow suit by Simon Mortlock 09 March 2020 The decisions of two iconic Singaporean employers, Singtel and Temasek, to freeze pay in response to the coronavirus crisis suggests other large firms in the finance and technology sectors may eventually follow suit. You are not eligible for Gift Box redemption as your subscription expiry is more than 90 days away or delivery address is not Singapore. Ms Chua’s annual package now stands at S$3.5 million and it include bonuses and benefits such as car benefits, medical coverage and club membership. Click ‘Next’ if you still wish to continue with purchase. Goh’s announcement came as Deputy Prime Minister Heng Swee Keat also announced in Parliament yesterday that the President, all Cabinet ministers – including … Singtel is Asia’s leading communications technology group, operating in one of the world’s fastest growing and most dynamic regions. Singtel’s underlying net profit for the 12 months, when shorn of one-off events, fell by 21.4 per cent year on year to S$2.83 billion. ... FY 2020 was a challenging year for our businesses. Here’s a trading idea before Bursa opens. Ms Chua Sock Koong's package of S$3.5 million was about 43 per cent lower than the S$6.1 million she made the financial year before. Singtel group CEO Chua takes pay cut again. Singtel closed up by S$0.02, or 0.58 per cent, to S$3.50 on its cum-dividend date on Wednesday, with more than 59.1 million shares changing hands. Mr Yuen Kuan Moon, 53, was appointed Group CEO on 1 January 2021. His executive team will take a 50% pay cut. SHARES. 2020. The new MSN – your customisable collection of the best in news, sports, entertainment, money, weather, travel, health and lifestyle, combined with Outlook, Facebook, Twitter, Skype and more. Singtel has also said that its digitalisation and automation efforts are expected to save some S$490 million in the fiscal year to March 31, 2020. [39] On December 4, 2020, it was announced that the Singtel and ride-hailing firm Grab consortium had been awarded a digital banking licence and would start operating in 2022. Gary Kelly, the CEO of Southwest Airlines, announced that he will voluntarily take a 10% pay cut in response to the dramatic drop in air travel. Singtel CEO takes 43% pay cut June 26, 2019 admin 0 Comments. In an employee email, chief executive Goh Choon Phong said he will take a 15% pay cut… While CEO pay rose 5% from 2019 to 2020, this was lower than the 9% increase from the year prior. Singapore, 29 July 2020 – Singtel today launched its annual National Day film tribute, celebrating the Singapore spirit of tenacity and perseverance as the country navigates its way through the unprecedented challenges of COVID-19. 6. According to the company’s annual report published earlier today, Chua’s “earned” pay was just below S$3.1 million (RM9.53 million), down 11.4% from S$3.5 million for FY19. READ: Singtel CEO takes 43% pay cut in challenging year hit by 'perfect storm' Underlying net profit, which excludes exceptional items mainly from Airtel, fell 22 per cent to S$575 million. The Edge Singapore Published on Wed, Jul 01, 2020 / 11:05 AM GMT+8. Additional charge will be applied for delivery outside Singapore. EVENING 5: LAD calculated from date booking fee is paid, EVENING 5: Govt unveils RM25bil PERMAI package, EDGE WEEKLY: Decade long slippery slope for private investment, BNM keeps OPR at 1.75% amid continued recovery of global economy but downside risks remain, Pavilion KL ends ‘painful’ 2020 on a high, Maybank Kim Eng says to keep some glove stocks in your portfolio, INIX to take legal action against The Edge, Widad to develop project worth RM40 billion GDV in Langkawi. The steps announced include CEO Dave Calhoun and Board Chairman Larry Kellner both forgoing all pay until the end of 2020, Boeing said. 05 October 2020 - 13 November 2020 On Thursday (Oct. 1), Singtel announced that in a media release that Singtel group CEO Chua Sock Koong will be retiring next year, Jan. 1. Share. Funds Tantallon sees V-shape recovery and opportunity for Bharti Airtel Your billing information must match the billing address for the credit card entered below or we will be unable to process your payment. Rise and shine! Unlimited access to all stories from $99.9/year*. For the first quarter ended 30 June 2020, Singtel’s performance reflected softening economic and market conditions, exacerbated by COVID-19 and ongoing price competition. © All rights reserved. He joined Singtel in 1993 and has held several leadership roles in Singtel including CEO Consumer from June 2012 to December 2020 as well as Group Chief Digital Officer role from 2018 to December 2020. By agreeing the Terms & Conditions, you will receive our daily e-newsletter and marketing messages. Group Digital Life’s CEO Samba Natarajan shares insights on the digital landscape and how the Group’s digital investments will continue scaling in Asia. A 2011 survey by GMI Ratings found that half of all CEOs earned a base pay of at least $657,884 a year. SingTel’s Chief Executive Officer Chua Sock Koong’s income also took a dive of 43.1 percent from the year before. For Chua Sock Koong, Singtel’s group chief, the salary package has come down nearly by half--from S$ 6.1 Mn last year to S$ 3.5 Mn this year. On October 1, 2020, Singtel announced the appointment of Yuen Kuan Moon as group CEO to replace current chief Chua Sock Koong after her retirement in January 2021. The measure is part of wider efforts to help the airline cope with the ongoing COVID-19 outbreak. * You can cancel your auto renewal preferences at any time by emailing our Customer Service, For bulk or corporate subscriptions, please submit your enquiry. Singtel CEO’s Pay Has Dropped to $3.5m a Year. The world’s largest hotel chain, Marriott, reported that CEO Arne Sorenson will relinquish his salary for 2020. 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